Context

  • The admin or the finance head of an organization uploads the bank statement of the corporate credit cards in Fyle and assigns the card transactions to their respective employees.

  • The employee then manually creates expenses for the card transactions assigned to them. Alternatively, if an expense is already created by them before the card transaction is assigned to them, they will then just have to match the transaction with the corresponding expense. 

  • In light of this, we have two features to help employees match the expenses with the card transactions: Auto-match and Automatic expense creation for corporate card transactions.

Auto-match

  • Auto-match is an intelligent feature that helps in automatically matching Expenses with their corporate card transactions. Auto-match works in two ways. 

  • First, if there is an expense that is already created in Fyle for a business spend made using a corporate card, then when the card transaction is later assigned to the employee, Fyle-bot automatically matches the corresponding transaction to the expense using Auto-match.

  • Second, let’s say the card transactions are already assigned to the employee. Now if the employee creates a new expense for a business spend made using a corporate card, then Fyle-bot first looks for a possible match among the assigned transactions and automatically matches the transaction with the expense, if found. 

  • In both cases, the matched expenses will look like this in the My Expenses page.

Matched expenses on the 'My Expenses' page
  • Auto-match compares the date of spend, currency and amount to find the possible matches between Expenses and card transactions. 

Automatic expense creation for corporate card transactions. 

  • Although Auto-match ensures that the matching takes place even if the employee forgets to do it manually, it still cannot solve one problem. That is, what if the employee forgets to create expenses for the card transactions? Matching doesn’t even make sense then. Fortunately, this is taken care of by our newest feature - Automatic expense creation for corporate card transactions.

  • Now, when the admin assigns a set of card transactions to an employee, Fyle-bot looks for possible matches among expenses that are already created. Whenever a match is found, it goes ahead and auto-matches the expense with the card transaction. 

  • For transactions without any possible matches, Fyle-bot will automatically create the corresponding expenses. These expenses can directly be found in the My Expenses page under the Ready to report tab or the Draft expenses tab (depending on whether all the mandatory fields required by your organization are filled or not). 

  • The corporate card transactions for which expenses were created automatically will show up under the In progress section of the Corporate cards page. 

  • Automatically created expenses will show a message saying “Automatically created expense for corporate card transaction” to distinguish it from manually created expenses. 

Expense form of CCC transactions on web app
  • Here’s how it looks like on the mobile app:

Expense form of CCC transactions in mobile app

     

These features save the employees from having to put any manual efforts in creating expenses for card transactions or for matching them. Everything is taken care of by Fyle to make one-click expense reporting truly more powerful!

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