View all transactions:
One of the main benefits of utilizing the purchase card feature is the ability to easily track your chapter's expenses and have full visibility on all of the purchases made on behalf of the chapter.
To view this information, go to the Banking Dashboard > Purchase Card Tile > Manage > View all transactions
Select the account you want more information for by clicking on the blue hyperlink/the purchase card name and last 4 digits listed. Adjust the desired date range and click 'Get Transactions'.
With every transaction made on the purchase card, greekbill will automatically add a line item on the system with the information below to the checks and deposit report:
- Posting Date
- Description
- Vendor – Comes over as Uncategorized Vendor – needs to be identified
- Chart of Accounts – Comes over as Uncategorized Expense – needs to be identified
- Type
- Check #
- Amount
You will be able to view these data points on various reports on the system.
This makes tracking your expenses very easy because every expense has been tracked and is listed. You do not need to add all the information manually. All you need to do is categorize your transaction vendor and chart of accounts.
If you click on the blue 'CHECK' hyperlink you will get a pop-up window to manage the transaction.
You will be prompted to assign:
- ·Vendor – If the vendor is not already listed, you can click + Add Vendor and put in the details of the vendor.
- Chart of Account – The sub bucket you would like to track this expense for, it will then link and show up in your expense reporting.
-
-
- you can choose to “Add another Line” and split the expense. This will allow you to more accurately assign the amount you spend based on the various budgets though it was all purchased through one transaction.
-
-
- Description - This will help you identify the transaction for internal recorded purposes.
- Amount - If you split the transaction, it will allow you to edit the amounts.
- Memo - Once the transaction has been updated correctly, click “Submit” to save.
If you go to the check module you will be able to search for any transaction, because they are tracked as a check on the system.
NOTE: The transaction check number will start with 'PC'. This will help you identify this is a purchase card transaction.
Pending charges – There is an option to search for any pending charges on the purchase card. This will load any transactions that have not yet been processed yet.
NOTE: Some vendors such as hotels or airlines can hold a deposit for up to 90 days and that can affect your purchase card balance.
NOTE: The balance on the transaction review dashboard vs. the balance on the purchase card dashboard could vary based on pending charges. The bank register report is a way to review this. Bank register report: your account history for the purchase card. This report should have the most real-time data on the balance of the card. You can always export this report to do your reconciliation or comb through the data.
NOTE: When you load funds to your purchase card, greekbill will automatically add a journal entry to track the movement of funds from one bank account to another. You don’t need to add any checks or deposits to be able to reconcile the accounts.