The Corporate Cards section on the mobile application will allow you to view your corporate card spends' complete history and help you identify the states of the transactions incurred on your respective corporate cards.
The transactions that you see in the Corporate Card tab are the ones that came in via your bank's data feed or through the bank statements that are uploaded on Fyle by your organization's Fyle administrator.
The reconciliation process begins once the transactions incurred on a corporate card get assigned to you. To view the details of transactions assigned to you, you may follow the steps below:
1. Click on Corporate Cards.
2. The transactions incurred on your corporate cards will reflect in either the Unclassified or Classified tab, depending upon whether they are matched to an expense or not.
The transactions shown here are matched with their respective expenses. Expenses can be matched in 2 ways:
Auto-match - Auto-match is a feature that helps in automatically matching expenses that are previously created with corporate card transactions.
Automatic expense creation for corporate card transactions - For transactions without any possible matches, Fyle creates the expenses automatically for each of them and automatically assigns them against a matching card transaction
Actions that can be taken on Reconciled/Classified Transactions:
Unmatch expense - Un-matching a corporate card transaction with a matched expense will remove the classification.
Note: Unmatching is allowed when the expense is in Fyled, Draft, or Reported state.
Once an expense is unmatched with a transaction, it would reflect under the Unclassified tab. The transactions that show up in this tab are the ones that are awaiting reconciliation with their respective expenses. You will still be able to see the possible expense match after unmatching the transaction.
If your organization doesn't have automatic expense creation enabled and you have not created an expense with supporting details against a transaction, you may spot the incoming transaction showing up in the Unclassified tab as there is no expense present for Fyle to auto-match it with.
Actions that can be taken on Unclassified Transactions:
Create an expense manually: If a possible expense match(expense worth 17.92$ as per the below-attached image) is not a correct expense match, or there is no expense created for the transaction, you can add the expense manually by selecting the Create Expense option.
Mark a transaction as personal: If you have any personal transactions that were made through your corporate credit card, you can mark them as personal. To do so, click on any transaction under the Unclassified tab which you wish to mark as personal and click on Classify as Personal. Please refer to this article here to know more about marking a transaction as personal.
Select a matching expense(Possible expense match) when you click on the Unclassified transaction. If the suggestion is correct, you may go ahead and confirm the match. Please refer to this article here to know more about matching a CCC transaction against an existing expense.