Does anyone have any preferred setups for handling expenses incurred on corporate credit cards?
For context: We have 40+ corporate cards held by employees, each of which tends to incur 1-3 charges per day due to the amount of travel involved in our business. A very large proportion of these charges are fuel but the rest could be anything from lodging to supplies to recurring subscriptions.
We implemented the Acumatica Time and Expense Module with bank feeds to import transactions so that employees could attach receipts and code what the purchases were for. However, this has proven to be an extremely clunky system and isn’t working particularly well for us because:
- The charge doesn’t import on the day it was made causing employees to have to wait 1-3 days to be able to attach receipts and then it can take another 1-3 days to route through the approvals process
- The fact that you have to claim a receipt then create a claim for the receipts in order to submit everything is essentially giving us double work
- The system does not recognize recurring charges forcing us to re-code them every time. And we can’t put them in as recurring transactions because then they’d be double entered - from the bank feed and the recurring transaction
- The system does not have a way to recognize that a receipt you uploaded yesterday matches the expense that imported today and tie them together forcing you to upload receipts only and directly to the expense after it imports into the system. Even QuickBooks can do this so it seems odd that Acumatica doesn’t have anything like that.
- Many of our employees are cowboys (literally, we run ranches) and don’t have the patience to deal with the multi-step process. I’m an accountant and I barely have the patience to deal with it.
Basically, the Time and Expense module is not working for us and we need an alternative process. Does anyone have any ideas?