This article explains how corporate credit card expenses flow from Sage Expense Management to Sage Intacct as Credit Card Transactions (Cash Management module), and how those transactions are matched with bank transactions and reconciled in Sage Intacct.
Note: This article only highlights the process of reconciling credit card expenses exported from Sage Expense Management into the Cash Management module in Sage Intacct.
Step 1: Importing corporate card transactions into SEM
There are multiple ways to import corporate card transactions to SEM, such as VISA RTF, Mastercard RTF, AMEX direct feed, Bank feed, and Statement upload. Please refer to this article for more information on importing card transactions to SEM.
Step 2: Completing a corporate card expense
Once corporate card transactions are imported into SEM, the system automatically creates a corresponding corporate card expense for each transaction. The expense includes details such as the amount, date of spend, and merchant.
Employees complete the expense by coding required fields such as category, project, and other relevant dimensions, and by attaching a receipt.
Dimensions such as GL accounts, projects, and locations can be imported directly from Sage Intacct into SEM fields (for example, categories, projects, and cost centers), ensuring alignment between systems.
Step 3: Exporting corporate card expenses to Sage Intacct
The corporate card expenses that are completed are added to an expense report and submitted for further processing, such as approvals by the supervisor and verification by the accounting team
Once the corporate card expense reaches the configured state of export, the integration exports the corporate card expenses to Sage Intacct as Credit card transactions. Please refer to this article to learn the various ways of exporting expenses to Sage Intacct
The exported corporate card expenses can be found under Cash Management > All > Credit card > Credit card transactions in Intacct
Step 4: Reconciling the exported corporate card expenses
Once exported, credit card transactions in Sage Intacct can be reconciled using either bank feeds or manual reconciliation.
Reconciling a corporate card account using bank feeds
Log in to Sage Intacct and switch to the appropriate entity.
Navigate to Cash Management > All > Reconciliations > Credit card.
Select the credit card account.
Enter the statement ending date and ending balance, then click Continue.
Match transactions
The reconciliation summary displays matched and unmatched transaction counts and amounts.
All unmatched credit card transactions are listed.
For each unmatched transaction, click Match.
Select the corresponding bank feed transaction
Filters and column sorting can be used to locate transactions quicklyClick Match or Match and go to next.
Multiple transactions can be matched together if needed
Complete reconciliation
Continue matching transactions until the Amount to reconcile shows 0.
Click Reconcile to complete the process.
Reconciling a corporate card account manually
If bank feeds are not enabled, reconciliation can be completed manually using the statement balance.
Log in to Sage Intacct and switch to the appropriate entity.
Navigate to Cash Management > All > Reconciliations > Credit card.
Select the credit card account.
Enter the statement beginning date, ending date, and statement ending balance.
Click Continue.
Verify and clear transactions
All transactions within the selected statement date range are listed as unmatched.
Review each transaction against the credit card statement (verify amount, date, and merchant).
Use filters and sorting to simplify review.
Select verified transactions and click Clear transactions.
Complete reconciliation
Clearing transactions reduces the unmatched transaction count and the unmatched amount.
Once the Amount to reconcile shows 0, click Reconcile to complete the reconciliation.
💡You can view the reconciliation report by going to Cash Management > All > Reconciliation > Reconciliation histories