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One Corporate Card Statement but Many Cards Numbers

  • 18 April 2023
  • 5 replies
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When you have one corporate credit statement, but each salesperson has a card under this umbrella, e.g., the last four digits of the card are different, do you still create one corporate credit card and add each user to this master card?

Or do you make a separate corp card for each user? Then by pointing to the same cash account, will all cards end up pulling into the one credit card statement for reconciliation?

Thank you. 

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Best answer by jessicaASA 19 April 2023, 15:33

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That is what we did and it works great. We have 7 credit cards that roll into one master statement. We created one credit card payment method in Acumatica and named it after the issuing bank (such as “CHASEVISA”). We also have a matching cash account that we use for the statement reconciliation. The cash account has the same name. All of these transactions flow in and out of a GL we titled Credit Card Charges Clearing. When we navigate to the bank reconciliation screen and select the proper cash account, all released transactions that used the CHASEVISA payment method populate for reconciliation, regardless of which individual card was used.

Note that in addition to using the statement on the Banking reconciliation screen, we also enter it as a bill in the Payables module. We enter the total amount due as one line and code it to the Credit Card Charges Clearing GL.

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@jessicaASA I like this approach.  Did your integration work through bank feeds or did you set something up directly with CHASE?  I’m wondering whether Chase is a good option - whether direct or through Plaid.

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@andrewh22 We don’t utilize Acumatica’s bank feed feature. The activity I described above is handled manually through expense claims, vendor bills, and bank reconciliations.

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Thanks for clarifying that @jessicaASA.  Is there any reason you did not or could not integrate with the bank feed for the chase credit card?  Reason I ask is for a client I'm working with who is wanting to know if card brands that "worked well" through Plaid?  Then he would want to structure it similarly on the back end like you did with multiple cards and a single cash account/payment method.

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@andrewh22 The decision to not integrate with Chase was made before my time, but I suspect it was because (a) we were new to Acumatica and getting our bearings, and (b) we are a small company with not much credit card activity. We have since moved our credit cards to a different bank and it is manageable without a bank feed integration. 

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