For the Visa Real-Time Feed and Mastercard Real-Time Feed transactions, we usually receive two calls from the card network: authorization (when the card is swiped) and settlement (when the bank processes/settles the transaction) to Fyle. The transaction status for the authorized transactions is Pending, and for the settled transactions, it is Posted. Learn more about the transaction status here.
On Fyle, we auto-create the expenses for every transaction. This lets your employees view the expenses, fill in the mandatory fields, and submit them. Sometimes, there will be transactions that are just authorized (pending) and waiting for the bank to settle them. And before the transaction is settled, your employees may submit the expenses in an expense report. Or split the expenses into multiple expenses based on category or project and submit them for approval. In some cases, the authorization amount may differ from the settlement amount (for taxi charges, fuel station charges, etc).
If you have an accounting integration with Fyle, the expenses will be exported to your accounting software after approval. The export of expenses that have yet to receive a settlement leads to a mismatch between the data present on Fyle and the data coming in from the bank on your accounting software. As an admin, you may need clarification on the incorrect data. Hence, to address this problem, Fyle allows the admin to control the workflow of such expenses with pending transactions.
This is an optional setting for your organization. You will see this option only if you have the Corporate Cards module enabled.
Enabling the toggle
Please follow the steps mentioned below to enable the restriction:
Go to the Admin Settings page.
Click on Account > Advanced.
Scroll below to the Reports section, where you can see the toggle "Restrict Expenses with Pending Transactions from Split and Adding to a Report."
Enable the toggle.
Now, your employees can neither split nor submit the expenses with pending transaction status to expense reports.
What happens after the toggle is enabled?
After the toggle is enabled, for the expenses with Pending transactions status, your employees:
Can't split those expenses.
Can't add those expenses to expense reports.
Automate expense report submission will also skip those expenses.
On Web App
On the expense form, the "Add to Report" field won't be visible for the expenses with Pending transactions.
This is how it looks like when your employees try to add the expenses to expense reports.
This is how it looks like when your employees try to split the expenses.
On Mobile App
On the expense form, the "Add to Report" field won't be visible for the expenses with Pending transactions.
This is how it looks like when your employees try to add the expenses to expense reports.
This is how it looks like when your employees try to split the expenses.
What can I do if we see the transaction status as Pending on Fyle, but the bank has settled the transaction?
At times, we may not receive the settlement call from the card network (Visa or Mastercard) due to various issues on their end. If you are towards the end of the accounting cycle and want to close the books on time but find a few of these expenses stuck in Pending transaction status, you can turn off the toggle and submit/split the expenses for your employees. This way, you can proceed with closing the books on time.
Please inform your employees to update the mobile app to the latest version available on the App Store and Play Store to see the changes associated with this feature. Feel free to reach out to us at [email protected] for any clarifications or issues.