Corporate Card Expenses

You can designate expense lines as paid by a corporate credit card on expense reports. If you have more than one credit card account, you can select the default account in Accounting Preferences. You can also select the account on the employee record and on individual expense reports. For OneWorld accounts, you can select the default account for Corporate Card Expenses on the Human Resources subtab of the employee record. Keep the same subsidiary for an employee and the credit card account. In Accounting Preferences, you can also select a default account for personal expenses paid with a corporate card. For more information, see Time & Expenses Accounting Preferences. For OneWorld accounts, see Set Subsidiary Preferences.

Note:

If you have one credit card account, the Default Account for Corporate Card Expenses preference field does not appear. For OneWorld accounts, the preference field does not appear on the Subsidiary record if only one credit card account is associated with the particular subsidiary.

Important:

If you did not use non-reimbursable expenses prior to NetSuite 18.2, they are no longer available. If you used non-reimbursable expenses prior to NetSuite 18.2, you can choose to disable the availability when entering expense reports. For more information about non-reimbursable expenses, see Non-reimbursable Expenses.

To use corporate card expenses, you must first customize your expense report form to include the relevant fields. For more information on customizing forms, see Creating Custom Entry and Transaction Forms and Configuring Sublist Fields.

There are two optional fields you can add to the body of your expense reports and one required field for expense line items:

Account for Corporate Card Expense – optional field to enable the default account to be overridden at the expense report level
Corporate Card by Default – optional field to enable all entered expenses to automatically be marked as corporate card expenses
Corporate Card – required field to enable expenses to be marked as corporate card expenses on your expense reports

Corporate card expenses can also be marked as billable. If you use non-reimbursable expenses, when expense lines are marked as corporate card expenses they can no longer be marked as a non-reimbursable expense. You can disable non-reimbursable expenses. Go to Setup > Accounting > Accounting Preferences. On the Time & Expenses subtab, under Expenses, clear the Allow Non-reimbursable expenses box.

Expense reports including corporate card expenses debit the Expense account while crediting the selected credit card account. When reconciling a credit card statement in NetSuite, corporate card expenses show up automatically as a journal entry.

Employees whose companies pay corporate credit card bills directly can differentiate personal expenses charged to a corporate card using expense categories.

To use personal corporate card expenses, check the Personal Corporate Card Expense box on expense category records. When employees enter expense reports, they can select any personal corporate card expense category to indicate that the line item is not a company expense. Only one personal expense category may be used on a single expense report.

Note:

Corporate card expense categories can only use other asset accounts. If your company does not use expanded account lists, the corporate card field on expense categories is disabled. Any expense category attached to an other asset account is automatically designated a corporate card expense. To enable the expanded account list preference, go to Setup > Accounting > Preferences > Accounting Preferences > General Ledger.

For more information about expense categories, see Expense Categories.

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