With the rise of corporate cards being used in the world, businesses face the daunting task to reconcile each expense at the end of month. Typically, this manual process will be done prior to sending any payment to the credit card merchant. Many accounting software programs allow you to reconcile the payments by matching the imported transactions with a dollar amount. These programs will only tell you how much the imported transactions are off by the amount entered in by the user. Most companies need more detail, like who has not submitted their expense reports, were the legitimate charges and lastly, where the expenses billable to any client.
The TriNet Expense Reconciliation tool allows company administrators to upload a .CSV file of all credit card transactions and see exactly which expenses have not been turned in (and who the culprits are failing to turn these expense in). The tool will compare all approved expense reports to the data downloaded from the credit card statement based on DATE, AMOUNT and MERCHANT NAME. If the CSV contains the cardholder name, this can be properly displayed in the Reconciliation module.
To get started with Reconciliation, please go to Reports > Reconcile.
1) Select “Import Payment Transactions” to upload the .CSV file.
2) Select the .CSV format and upload.
3) The uploaded .CSV file will show on the right column “Credit Card Transactions.”
4) Select the “Employee” field to compare the approved expenses from the employee to the uploaded .CSV file.
Select “match” to tie the approved expenses with the uploaded .CSV file. To view all match expenses, select “View Matched Expenses” at the top of the reconciliation page.
You can also individually choose approved expenses to match with the credit card transactions. To match the two together, select “OK.” The expenses will be shown in “View Matched Expenses.”
To remove a matched expenses, please go to “View Matched Expenses.” Select the approved expenses that you would like to remove and press the “X” symbol to send it back to “Unmatched Expenses.”
If you have completed the reconciliation for the credit card statement period, please select “finalize” to view or download the reconciliation report. Select “complete” to end the reconciliation period. Once "complete" any previously uploaded .CSV files for "Credit Card Transactions" will be cleared for the next reconciliation period.
The current CSV formats are:
TriNet Expense (Date, Merchant, Amount)
TriNet Expense Corporate (Date, Merchant, Amount, Cardholder)
American Express (Personal)
American Express Corporate Card
Silicon Valley Bank Credit Card
Barlcay's Business Card UK
When uploading the American Express Corporate Card .CSV, please uncheck the box to include additional information.