Handling credit card expenses w/o integrating with Credit Card Processor
Hi Guru's
My Client has a policy of reimbursing credit card expenses incurred by employees. They are very few transactions every month and none of them are personal. Integrating with master card is an overkill.
I have the following solution in mind. Need your feedback on the same.
1. Receive the credit card statement and record in AP with supplier as Master card and appropriate coding
2. Pay this Invoice
3. Create a prepayment Invoice in name of employee for the same amount
4. Pay using a dummy bank account
5. Employee enters expense report- including cr card exp and submits recipts
6. He has an advance available and he sets off this advance.
My Client has a policy of reimbursing credit card expenses incurred by employees. They are very few transactions every month and none of them are personal. Integrating with master card is an overkill.
I have the following solution in mind. Need your feedback on the same.
1. Receive the credit card statement and record in AP with supplier as Master card and appropriate coding
2. Pay this Invoice
3. Create a prepayment Invoice in name of employee for the same amount
4. Pay using a dummy bank account
5. Employee enters expense report- including cr card exp and submits recipts
6. He has an advance available and he sets off this advance.
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