Are Expensify card expenses sent to Quickbooks?
I'm trying to reconcile my company's Expensify cards for the month. So far, I can just see that Expensify has withdrawn money from my bank account. I don't see any documentation about how to reconcile the Expensify cards except How-to: Reconcile your company cards statement in Expensify — Expensify Community, which is not helpful.
Are the card charges and categories sent to Quickbooks? Is there a video or other documentation describing how to reconcile Expensify cards?
Thanks in advance.
Answers
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Welcome to the Community @harold_anderson ! If you are using both QuickBooks Online and the Expensify Card, we will automatically reconcile your expenses daily in QBO. Check out this Community post for those details.
Deep Dive: Expensify Card and QuickBooks Online Auto-Reconciliation: How it works!
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I've read that article, but I really don't understand it. In any event, no accounts are being auto-reconciled in QBO, that's for sure.
What seems to be happening is that after the monthly settlement of the Expensify Cards, all the non-reimbursable expenses that were charged on the Expensify Cards and are on submitted reports are journaled to the Expensify Liability account, along with one line item for all the unsubmitted expenses.
However, there does not appear to be a way to reconcile all the submitted and unsubmitted expenses, which together add up to the amount that Expensify debits from our bank account at settlement.
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I see you've had a conversation with a Guide as well as in Chat and it seems that it's all worked out now. If you do continue to have any trouble, feel free to continue that conversation with Concierge where you are able to easily share screenshots and details we wouldn't ask you to share here in the Community.
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I'll just have to wait and see what it does with the Expensify Card Liability account as new reports are submitted. Right now, there is a big charge that represents all the unsubmitted expenses, which we obviously have to pay Expensify for at settlement.
I will follow up this post next month and try to describe the answer for any other community members that might be using Quickbooks Online with Expensify Cards and monthly settlement.
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I'm on the daily settlement with 60 cards and wondering if I should go to a monthly settlement. The reconciling process is a hot mess. The settlement only shows you what expensify charged you, not what was exported to QBO. If set up correctly, charges only get sync'd to QBO when the expense report is approved. You're right in that it is not auto reconciled in QBO. Curious what you find out. I made a post on here as well about reconciling. Hoping to find some help as well.
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I'll get back to you after the end of the month and let you know what happened.
