PA Essentials Customer Year-End Reconciliation Support
IN THIS ISSUE: White Paper Preview: Preparing for Sarbanes-Oxley New Features for ExpenseLink: Fax Imaging New Features for ExpenseLink: Intelligent Workflow PA ESSENTIALS: Year-End Reconciliation Year-End Checklist Self Help for Quick How-To’s UPCOMING NEWS AND EVENTS: PERSPECTIVES Customer Conference March 20-23, 2005 New Orleans Hold the Date! International Accounts Payable Professionals (IAPP) April 24-28, 2005 San Diego Financial Executive International (FEI) May 19-22, 2005 Chicago October SmartTalks Web Seminar SOX: Taking Control Through Expense Management Have a comment or a suggestion for a Gelco Advisor Article? Contact Us >	As the Program Administrator for your company’s expense management program, there are many tasks to perform as the calendar year ends. One of the ways Gelco can help is with your period-end reconciliation. Gelco Reporting and Analysis Services or Gelco Scheduled Reports support your reconciliation efforts and help tie-in to your general ledger. We can also provide you with a monthly balancing form available to help you with this task. Reporting and Analysis Reporting and Analysis reports that display an "Amount" column (rather than "Expensed Amount" or "Paid Amount" column) will balance properly to a general ledger. The following reports are intended to balance to the general ledger: Distribution Expense Summary: Lists the total amount submitted for each expense category during the specified time period. The expense categories are grouped under the related distribution codes to which they are assigned. Expense Detail by Representative: This report details expenses grouped by representative. Starting at the first organization level, the report permits the user to drill down into an organization structure, ending with a specific representative and expense category. With Reporting and Analysis, you enter date parameters when you request the reports. You can request data for your fiscal calendar period or for any other period; for example, year-to-date. Note: The data in the Distribution Expense Summary and Expense Detail by Representative reports are driven by line-item payment initiation date. Scheduled Reports The following Scheduled Reports provide balanced totals that are intended for use in reconciliation: Payment Activity (TD90151R): Provides the daily total and detail of all ACH payments. It can be used to reconcile your back account statement. All corporate charge card payments will show up the week that payment is made to the corporate charge card. Account Distribution Expense Summary (TD90601R): Provides company-wide summary information for distribution/GL codes. It also provides statistical information such as average meal costs and average lodging costs. Other balanced reports you can use include: Expense Detail by Representative (TD90301R), Expense Detail by Distribution Code (TD90401R), and Distribution Expense Summary (TD90501R). Charge Card Payment Detail (TD91101R): Lists all charge card activity that representatives have accumulated over the month. It also lists which payments would be made that month and which ones would be paid in the next period because they were submitted after the cutoff. Report Cutoff Dates Report cutoff dates determine when your account data is captured for Scheduled Reports. Your cutoff dates are defined during account implementation. There are two cutoff date options: Calendar cutoff (last day of month): If the last day is a Monday, Tuesday or Wednesday, the reports begin processing that evening. Processing may take longer than one night due to volume. If the last day is a Thursday or Friday, the reports will process over the weekend. Customer specific date: The reports will include data up to and including the specified date. The reports will begin processing on the Saturday following the specified date. Note: The expense data in Scheduled Reports is based on the dates the expense reports were initiated for payment, not the dates they were submitted. Monthly Balancing Form Gelco has developed a spreadsheet tool to help you balance your Gelco payment activity to your expensed summary reports and to your bank statement totals. To obtain a copy of the Monthly Balancing Form, please contact customerservice@gelco.com.