Reconciling Corporate Card Transactions

Ensure accurate accounting for corporate card spending by reconciling card payments against submitted employee expenses. Zudello's Card Reconciliation screen provides a dedicated interface for this process.

Best practices

• Ensure corporate card feeds are set up correctly to import payment transactions into Zudello.
• Encourage employees to submit corresponding expense documents (receipts) promptly.
• Reconcile transactions regularly (e.g., weekly or monthly) to maintain accurate records.
• Investigate any discrepancies between card payments and submitted expenses.

Prerequisites

• Your organisation must have corporate card feeds configured to import payment data into the Expenses > Payments submodule.
• Employees must submit expenses paid for with the corporate card, marking them as "Corporate Card Spend" (or similar designation).

Accessing Card Reconciliation

1. Navigate to the Expenses and Travel module.
2. Click the Card Reconciliation submodule.

Understanding the Reconciliation Screen

The Card Reconciliation screen displays:

• Filters: Options to filter by Card (Payment Method), Employee, Date Range, and Status.
• Left Side (Payments): Lists unreconciled corporate card payment transactions imported from your card feed.
• Right Side (Expenses): Lists submitted expense documents marked as "Corporate Card Spend" that have not yet been reconciled.
• Matching Interface: Similar to statement reconciliation, coloured lines may indicate potential automatic matches based on amount, date, and merchant.

(Conceptual Example - UI may differ)

Reconciliation Process

1. Filter: Select the specific Corporate Card (Payment Method) and/or Employee you want to reconcile. Adjust the date range if necessary.
2. Review Auto-Matches: Examine any lines automatically linked by Zudello (indicated by coloured lines). Verify the match is correct (Amount, Date, Merchant details).
3. Manual Matching: For unreconciled payments on the left:
   • Identify the corresponding expense document on the right.
   • Click the Match icon or button associated with the payment and/or expense.
   • Confirm the link between the payment transaction and the expense document.
4. Handle Discrepancies:
   • Missing Expense: If a card payment exists but no corresponding expense has been submitted, follow up with the employee.
   • Amount Mismatch: Investigate why the card payment amount differs from the submitted expense amount. There might be currency conversion differences, tips, or errors. Adjust the expense record if necessary (requires appropriate permissions and potentially reverting the expense).
   • Missing Payment: If an expense exists but no corresponding card payment is found in the feed, investigate the card transaction history.
5. Mark as Reconciled: Once a payment and expense are correctly matched, they are typically marked as reconciled (this might happen automatically upon matching or require a confirmation action). Reconciled items are usually hidden from the default view.

Completing Reconciliation

• Continue matching payments and expenses until all items for the selected period/card/employee are reconciled.
• Depending on your workflow, reconciled expenses might move to a Completed status or trigger integration steps with your ERP.

Need help?

Contact your organisation administrator or Zudello support if you have issues with card feeds, accessing the reconciliation screen, or matching specific transactions.