Q: How long does a cardholder have to reconcile transactions and submit an Expense Report in Concur?
A:
- Creation/submission of either Procurement or Travel and Entertainment Expense Reports should be no more than semi-monthly or monthly
- Cardholders should create a monthly Expense Report and submit at the end of the month
- Each individual transaction does not require an Expense Report, cardholders should combine multiple transactions onto one monthly Expense Report
- Cardholders should reconcile transactions in the month the charge to the card was made, the month the transaction becomes an Available Expense in Concur
- As transactions become available in Concur, the cardholder should:
- review transactions for accuracy
- upload receipts
- add those transactions onto that saved Expense Report
- In the last week of the month, the cardholder would Submit the Expense Report, which routes to approver
- The goal is to capture the majority of transactions during the month they are generated
- Account for the time needed for the Expense Report to be routed for approval by your Financial Unit Approver
Example of monthly process:
- A transaction posts in Concur on July 5, 2020
- Cardholder creates an Expense Report Titled: July 2020
- Cardholder reviews the transaction, adds the Available Expense to the July 2020 Expense Report and attaches receipt(s)
- Cardholder Saves expense to Report, but doesn't Submit
- A second and third transaction post in Concur on July 10, 2020
- Cardholder reviews the transaction, adds the Available Expense to the July 2020 Expense Report and attaches receipt(s)
- Cardholder Saves expense to Report, but doesn't Submit
- A fourth and fifth transaction post in Concur on July 25, 2020
- Cardholder reviews the transaction, adds the Available Expense to the July 2020 Expense Report and attaches receipt(s)
- Cardholder Saves expense to Report, but doesn't Submit
- Cardholder Logins to Concur on July 27, 2020, last week of the month, reviews the saved Expense Report and submits July 2020 Expense Report
- The Expense Report will be routed for approval
- Approvals should be completed no later than the last day of the month, to ensure the transactions post to the Oracle financial system