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.