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How-to: Enable Monthly Settlement

Sheena Trepanier
Sheena Trepanier Approved! Accountant Posts: 1,361 Expensify Team
edited November 1 in How-to Docs

The Expensify Card is set to settle daily by default. Any domain admin can change this and settle Expensify Card transactions monthly instead.

Note: If you switch to Monthly Settlement, we'll settle any existing unsettled transactions from the current day before fully switching to Monthly.

To change your settlement frequency:

  1. Have a domain admin will log into their Expensify account using their preferred web browser,
  2. Head to Settings > Domains > [Domain Name] > Company Cards
  3. Click the Settings tab near the right side of your screen,
  4. Click the Settlement Frequency dropdown and select Monthly,
  5. Choose your settlement date,
  6. Click the Save button to confirm the change,

If your bank account is not connected with Plaid, you'll just need to connect it under Settings > Account > Payments by clicking Connect on the Settlement Account.

Side Note: If you want to settle the Expensify Card on a specific day of the month, you can keep the settlement as Daily until that day of the month, then toggle on Monthly. The date you toggle Monthly determines the date the Expensify Cards will settle each month.

Remember, if you need help with product support or troubleshooting please reach out to Concierge via the chat in your account or by emailing [email protected] and we'll be on hand to help 24/7.