Credit Card Reconciliation is the process of matching every credit card transaction on the statement to an internal record (receipt, expense report, or GL posting). It is essential for accurate cash flow management, fraud detection, and ensuring 100% compliance for tax and audit purposes.

We implement continuous monitoring and exception reporting. We flag duplicate charges, personal expenses, charges above policy limits, and transactions from unusual vendors, allowing for immediate action.

We reconcile all types: corporate credit cards, purchasing cards (P-Cards), virtual cards, and even personal cards used for business, provided the expense data is supplied.

Basic bookkeeping records the transaction; reconciliation validates it. Our service ensures the charge is correct, supported by a receipt, properly categorized, and compliant with company policy.

We require access to your General Ledger (GL), the Bank/Credit Card Statements, and the employee-submitted expense reports/receipts (e.g., via Expensify, Concur, or similar platform) .

By comparing receipts to policies daily or weekly, we generate a formal Policy Violation Report that flags expenses exceeding limits (e.g., meal caps) or those lacking proper pre-approval.

Yes. We specialize in reconciling cards used globally, correctly converting foreign currency transactions into your base currency (USD, CAD, AUD, GBP, EUR) and accounting for exchange rate differences.

It is vital for all businesses, particularly those with 5 or more cardholders. Scale determines frequency, but the need for control and accuracy remains the same .

We flag the transaction immediately. We then follow a defined escalation process, contacting the cardholder or manager to prompt them for the missing receipt to ensure the expense is properly substantiated for tax purposes.

Onboarding usually takes 2 to 4 weeks, including setting up secure access, integrating with your expense software, and defining the customized reconciliation rules and reporting format.

Yes, we are proficient in working with the statements and data formats of all major international and regional credit card providers.

Tax authorities globally (IRS, HMRC, ATO) require adequate documentation for deductions. Our service ensures every expense is substantiated by an official receipt, minimizing risk during an audit.

Yes. We handle reconciliation across multiple card programs and currencies, standardizing the expense reporting process for your global workforce.

The outcome is a zero-discrepancy Statement of Reconciliation, clean transaction data ready for GL posting, and a formal report summarizing policy compliance and any unreconciled items.

We only require access to transaction history (statement data) and do not require full card numbers (only masked numbers or internal references). All data transfer is via secured, encrypted connections and portals.

Daily service involves monitoring transactions as they post, performing real-time receipt matching, daily categorization, and flagging suspicious or non-compliant expenses within 24 hours.

Companies with high transaction volume, large sales teams, high fraud risk, or those using cards for daily purchasing (P-Cards) that require immediate visibility and control.

A Weekly Reconciliation Report showing all matched vs. unmatched transactions, a summary of spending by department, and a detailed list of missing receipts or policy violations from the past week.

It provides sufficient time for cardholders to submit receipts while ensuring that discrepancies and compliance issues are addressed quickly, preventing a backlog at month-end.

Month-end Financial Close Support. We provide the final, fully reconciled data file and summary journal entries required to accurately post the month's spending to the GL before the close deadline .

It ensures the balance sheet liability for the credit card account perfectly matches the GL balance, which is a required step for all internal and external financial reporting.

A review of quarterly trends, a detailed analysis of spending by vendor category, and a formal report on the cumulative compliance rate over the three-month period .

Smaller companies or organizations with low transaction volumes that still require formal periodic oversight and compliance reporting without the cost of a monthly engagement.

Mid-Year Spending Review and Policy Assessment. We provide a deep-dive analysis of card usage to recommend improvements to spending limits, categories, and policy language.

Year-End Audit Support. We provide the auditors with a complete, indexed file of all reconciled statements, receipts, and GL postings for the entire year, significantly reducing audit time .

Yes. We prepare the necessary detailed journal entry, debiting the appropriate expense accounts and crediting the liability account, ready for management review and posting .

We implement a clear Cutoff Policy, ensuring transactions are recorded in the GL in the period when the liability was incurred, regardless of the statement date.

Yes. We can provide a Weekly report tracking the total outstanding balance and available credit limits across all cards to aid in proactive cash and liquidity management.

We track pending items and manage them as a temporary reconciling item, ensuring they are automatically matched and cleared during the next reconciliation cycle.

Yes, we provide a categorized list of vendors, aggregated by cardholder and department, useful for identifying opportunities for bulk purchasing discounts or supplier consolidation .

We track the 
1) Foreign Currency Amount
2) Card Issuer's Base Currency Amount
3) Our Client's Functional Currency Amount, ensuring proper conversion and accounting for the gain/loss.

We use the bank's conversion rate for the actual transaction amount. We then calculate and post the resulting Foreign Exchange Gain or Loss that arises when the expense is settled in the client's functional currency.

Yes. We are experienced with leading EMS platforms like Concur, Expensify, Rydoo, and SAP Travel. We pull transaction data from the card feed and receipt data from the EMS .

We use your defined Chart of Accounts (COA) and apply consistent rules based on the vendor type and receipt description, ensuring expenses are posted to the correct GL account.

Yes. If a cardholder submits a receipt with notes for cost allocation, we split the transaction and prepare the journal entry to charge the appropriate accounts or cost centers.

We check for key details: Vendor Name, Date, Currency, and Amount. We also look for evidence of policy violations (e.g., alcohol charges, personal items.

A declined transaction is an attempted charge that was rejected by the bank. We track these for management reporting but do not post them to the GL, as no liability was incurred.

Yes. We flag expenses that exceed a client-defined threshold (e.g., $75 for US tax compliance) that require additional levels of documentation or formal approval .

We identify the personal charges, move them to an Employee Receivable account, and track the repayment, reconciling the subsequent payment against the receivable.

Yes. By categorizing and allocating transactions, we can provide a Monthly report comparing actual departmental card spending against the approved budget limits.

We prefer to receive data via a secure, direct bank feed connection (read-only) or through the secure download portal provided by your card issuer in a standardized format (e.g., CSV, OFX) .

We utilize advanced reconciliation software, specialized modules within ERPs (e.g., NetSuite, SAP), and custom Excel/Google Sheets templates optimized for complex matching and variance analysis.

We prioritize automation for initial matching (matching amounts and dates) but perform a manual review for exceptions, unmatched items, categorization, and policy checks, ensuring high accuracy.

No. For control reasons, we prepare the final, validated entry in a secure format. Your authorized internal finance manager reviews and posts the batch entry to the live GL system.

We immediately flag the disputed charge, move it to a temporary suspense account, and provide the cardholder with the necessary documentation to initiate the formal dispute process with the bank.

Yes. We can consult on optimizing your expense reporting process, from receipt capture (e.g., mobile app) to management approval, ensuring a smooth flow of data to our reconciliation team.

A Suspense Account holds transactions that are temporary anomalies (e.g., funds in dispute, unidentified deposits) until they are properly classified or reconciled, ensuring the main GL remains clean.

Late receipts are posted as a prior-period adjustment or, if the variance is immaterial, included in the subsequent month's GL posting, clearly flagged for audit trail.

Yes. We often recommend adjustments to your COA to better segment credit card spending for enhanced management reporting and tax compliance.

We verify the card number (masked) against the officially issued list provided by your finance department, ensuring all activity belongs to an authorized user.

This indicates a deeper problem, often due to unposted journal entries or misclassified transactions. We perform a forensic review to find the root cause, clear the discrepancy, and establish controls to prevent recurrence .

Refunds are matched to the corresponding statement credit and posted as a negative expense, ensuring the accounting reflects the recovery of the original cost.

Yes. Our Yearly service includes preparing all auditor requests related to credit card liabilities, expense support, and expense policy enforcement, acting as a resource during the audit fieldwork.

Unverified charges (no receipt, suspicious vendor) are immediately flagged and escalated. After the escalation deadline, they are typically posted to a non-deductible expense account for tax purposes.

Yes. We offer a one-time backlog clean-up project where we process months or years of statements, identify liabilities, and bring your records current for a separate fixed fee.

We classify expenses to ensure recoverable VAT/GST is correctly identified and separated, providing the foundational data required by your tax advisor for potential foreign tax reclaim.

The most common error is the failure to reconcile the statement balance to the GL balance, leading to misstated cash and liability accounts, often caused by missed journal entries .

While we focus on expense reconciliation, we can track the value of rewards earned based on provided card statements, ensuring the reward revenue is properly recognized in the GL.

We review the receipt and apply the correct category based on the actual goods/services purchased, correcting the cardholder's misclassification before posting to the GL.

Bank fees, interest charges, and late payment penalties are properly classified and posted to the appropriate non-operating expense accounts in the GL.

We use our experience with best practices globally to help draft clear, enforceable policies related to spending limits, approved vendors, and documentation requirements.

Yes. We apply the specific T&E rules (e.g., required guest lists for meals, lodging limits) during the reconciliation, ensuring expenses are compliant and properly documented.

Cash advances are tracked separately, recorded as a temporary asset (Receivable from Employee), and subsequently cleared when the employee submits corresponding receipts or repays the cash.

Yes. Our Quarterly review includes an executive-level report identifying repeat offenders, departments with high violation rates, and common types of policy breaches.

We follow the tax rules of your jurisdiction (e.g., certain small expenses may be deductible without a receipt). For high-value items, we flag them as potentially non-deductible until documentation is provided .

We review your workflow to ensure the cardholder is not the same person who approves the expense report, flagging any breakdown in segregation of duties as a critical control failure.

Yes. We treat these like P-Cards, reconciling the smaller, diverse transactions against a running log of receipts and ensuring the total cash withdrawn is accounted for .

We provide the final, verified balance of the credit card liability account, which is a key figure required for accurate debt disclosure in the footnotes of your financial statements.

By providing objective, documented expense compliance reports, we support the governance function by confirming that corporate assets are used appropriately and according to board-approved policies .

We track and report on the total foreign transaction fees paid, providing data that can help your finance team justify switching to a card provider with lower or no foreign fees.

Pricing is based on a transparent model factoring in 
1) the volume of monthly transactions
2) the number of active cardholders
3) the required frequency (Daily, Weekly, Monthly).

We typically offer a fixed monthly fee for ongoing reconciliation, providing budget predictability. Project-based work (e.g., backlog cleanup) is usually quoted on a fixed-fee basis.

There is a one-time setup fee to cover the initial investment in setting up secure connections, customizing the reconciliation rules, and defining the GL posting templates .

Our SLA guarantees a specific turnaround time for reconciliation (e.g., 3-5 days after receiving the statement) and a specific accuracy rate for the matching process.

We can structure an initial engagement as a paid pilot project for one month's reconciliation to demonstrate our process and capabilities before committing to a long-term contract .

We provide a detailed Engagement Letter outlining the scope, service frequency, reporting deadlines, confidentiality clauses, and defined pricing model.

Our agreement includes volume tiers. If transaction volume consistently exceeds the defined tier, we initiate a discussion to adjust the monthly fee, always maintaining transparent pricing .

The service begins immediately upon contract execution and successful completion of the secure data exchange setup (typically within the first week of the onboarding phase).

Yes, we offer flexibility for temporary service adjustments, provided we are given appropriate notice, and any outstanding reconciliation backlogs are cleared before the pause.

Yes, you will be assigned a dedicated Reconciliation Specialist and a senior Reviewer who will serve as the primary points of contact for all questions and reporting.

Focus on maximizing the use of direct card feeds and implementing a "no receipt, no reimbursement" policy to force employees to submit documentation promptly.

We offer a powerful combination of cost efficiency, access to highly qualified professionals (CAs, CPAs-equivalent), 24/7 productivity via time zone advantage, and robust data security protocols—all tailored for global compliance.

We advise processing payment immediately after the Monthly reconciliation is complete and the GL balance is confirmed, optimizing cash flow and avoiding late fees .

Yes. Cardholder coding provides the initial categorization, which we review and refine. This leverages cardholder knowledge and improves the speed of our reconciliation process .

We recommend a Quarterly or Half-Yearly review of EMS settings to ensure spending limits, approval hierarchies, and integration settings are current and effective .

The wash rule refers to the principle that the net effect of transactions should equal zero after all receipts are matched and the final payment is posted, leaving no outstanding liability .

We can provide a report on spending patterns and compliance by employee, giving management the data needed to evaluate card necessity and trustworthiness.

We recommend mapping expense categories directly to a limited set of GL accounts, minimizing the risk of cardholders using incorrect or obscure codes.

We classify interest and late fees as a non-operating expense. We advise minimizing these through proactive payment scheduling, which we can help optimize.

Yes. We recommend a multi-tier approval system where the direct manager approves the expense policy compliance, and a finance team member approves the GL coding accuracy.

We flag recurring charges and verify them monthly. If a subscription is canceled, we track the charges to ensure they cease, catching unauthorized renewal charges.

These are moved to a restricted Suspense Account and only released back into the GL (as either expense or loss) upon the final resolution of the internal or external investigation.

Yes, we can compile the data required for annual reviews with your card provider, often leading to better rewards programs or lower interchange fees.

We have a defined offboarding protocol, ensuring the card is immediately suspended, all outstanding charges are reconciled, and any personal charges are repaid before final payroll.

Unreconciled balances cloud the true cash position and liability figures, adding risk and uncertainty, which can lead to a lower valuation during due diligence .

We integrate with software that scans inboxes for digital receipts and automatically links them to the corresponding card transactions, maximizing efficiency .

We track the full liability amount but match each installment payment as it clears the bank account, ensuring the GL balance reflects the actual outstanding debt.

The most significant sign is a consistently large, uncleared reconciling item in the GL balance, indicating transactions are being posted without proper bank verification.

We generally recommend corporate credit cards as they offer better fraud protection and simplify reconciliation by providing transaction feeds directly to the finance team.

The Official Monthly Statement from the credit card issuer, as this document forms the legal basis for the liability and is required for audit verification.