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Intacct Credit Card Reconciliation when using Expensify

Mikail
Mikail Approved! Accountant Posts: 1 Expensify Newcomer

Hello!

My name is Mikail and I have worked as an Accounting Software Consultant for 5+ years, recommending applications that focus on improving the technology stack for small to mid-sized businesses. I also implement the accounting software and configure most third-party integrations.

For years I have seen the difficulties of reconciling a credit card in Intacct when Expensify is connected and used for credit card expense management. When Expensify syncs credit card transactions into Intacct, it will ONLY sync the transactions using the TRANSACTION date - there is NO option to use the posting date. All of my clients reconcile against their credit card statement, which is always based on the posting date of the transaction. Although all of the expenses are pushed into Intacct, there are always discrepancies in the reconciliation because credit card expenses pushed into Intacct from Expensify often fall outside of the statement period. The only option to address this issue is to find the expenses that sync'd into the wrong statement period and manually update the date to match the posting date of the transaction on the credit card statement. I have clients with thousands of credit card transactions a month, so this becomes a huge task at month end. When a client starts to have high credit card transaction volume, I have no choice but to persuade my clients to use a different expense management system.

Expensify support has expressed that using the transaction date and providing no other option, is intentional. My last note from support regarding this issue was "We don't have any current plans to change this integration."

I am hoping that other Expensify/Intacct users out there are looking for a solution and maybe we can gain some traction through this discussion.


Please comment!! Thank you!

Mikail