Corporate Card Expenses – How Does the System Debit and Credit the Liability Account?

Summary:

Hello,

We are currently working on corporate card expense processing in Oracle Fusion and need more clarity on how the system handles the liability account when reconciling corporate card statements.

We understand that the Expense Clearing Account is used temporarily to hold corporate card transactions before they are matched with an expense report and processed in AP. However, we would like to know more about how the liability account (Corporate Card Liability or AP Liability) is debited and credited during this process.

Can someone provide a detailed breakdown of how the system knocks off the liability when:

1. The corporate card statement is imported.