Generate Expenses for Credit Card Transactions
Explanation
This activity is used to register credit card transactions as expenses by
automatically generating the expenses. That is, the default expense code connected
to the credit card transaction will be used to register the expense records.
You can use the Credit Card Transactions field in the Expense Sheet to
view the credit card transactions of the employee. It will show filtered information
for the travel period in the expense sheet and if you need to view all the credit
card transactions of the employee use All Credit Card Transactions
option.
The below options are also available in the expense sheet related
to credit card transactions:
- Generate Expenses - fetches credit card transactions made by
the employee during the period entered in the header.
Note: Transactions
classified as partially balanced (one transaction that can be potentially
listed on several expense sheets) will not be automatically fetched.
- Add as Expense - copies selected transactions to the Expenses
type. It also selects the Expense option for selected records to
distinguish them.
- Add as Entertainment - copies selected transactions to the
Entertainment type. It also selects the Entertainment
option for selected records to distinguish them.
- Add as Compensation - copies selected transactions to the
Compensations type. It also selects the Compensation option
for selected records to distinguish them.
Note: All the credit card transactions of the employee available in
the Expense Sheet/ Credit
Card Transactions (which are configured to be balanced with the expense
sheet in full) will be included in this automatic expense generation.
Prerequisites
In order to perform this activity:
- Employee is required to have credit card transactions in which the transaction
code should be connected to the employee's default expense rule. This connection
is created in the
Credit Card Configuration.
- Also, one expense code (belonging to the employee's default expense
rule) is required to be connected to the transaction code as the default
expense code (for the expense rule).
System Effects
As a result of this activity, an expense will be created for each credit
card transaction (with the specified prerequisites) listed in the Expense Sheet
as different Expense types.
Also, the Credit Card option will be selected for the registered expense.