Is your company is in process of enabling credit card functionality within Oracle Internet Expense?
If answer is yes
It means, once the credit card functionality is enabled in i-Expense, then its allows users to select open credit card transactions and include them in their expense report. The only pre-requisite for your organization would make an agreement with the credit card company to import an electronic file of credit card transactions that summarizes employees' expenses for a period. Once the electronic file is imported and validated, employees would be able to see their credit card transactions and then select them for expensing on their expense report.
AMEX (American Express) Corporate card is most popular one normally companies providing there employee who have requirement to frequent travel or other similar requirement.
American Express Corporate Service does provide these services to there corporate customer:
- KR/KP-1205 Cardmember Listing Report
- KR-1600 Corporate Express Cash Billed Data
- KR/KP-1300 Monthly (Cyclic) Aging Analysis
- KR/KP-1301 Interim Aging Analysis
- KR/KP-1100 Industry Summary
- KR-1022 Monthly (Cyclic) Billed Reconciliation Data
- KR-1025 Daily Unbilled Reconciliation Data
- KR-1072 Line Item Detail
- KR-1075 Line Item Detail-Daily Unbilled
Once your company is decided, to go for AMEX Corporate Card, then Finnace IT/ERP team tries to find out the way to do integration within Oracle.From the above mentions list Oracle does only provide the direct integration for Items #7, which is KR-1025 Daily unbilled Reconciliation Data.
Item #8, 9 are treated as level 3 data, and important to know these kinds of data is not currently supported in Oracle.
Level 3 transaction data refers to the detailed transactions that constitute a single transaction line on the credit card statement. For example, a single hotel transaction can contain the detailed transactions of room charge, meals, and room service.
Not only Amexm there are few more for which Oracle does support credit card transactions data file formats in EBS:
- American Express KR-1025 format (file name is Card Daily Data Feed)
- Diner's Club Standard Data File format (file name is TRANS.DAT)
- Master Card Common Data Format, version 2.0
- Master Card Common Data Format, version 3.0
- Visa VCF4 format
- US Bank Visa format
- Bank of America Visa TS2 format
What is offered as a feature in EBS Suite:
- Import Credit Card Transactions :As discussed above, if employees in your company use corporate credit cards, you can set up Internet Expenses to enable users to automatically import credit card charges from the card issuer into an expense report. Employees can also categorize each charge as either Business or Personal and, depending on your implementation, place items in dispute.
- Flexible Credit Card Payment and Reimbursement Setup: Internet Expenses supports several different scenarios for paying the credit card company and reimbursing employees for corporate credit card charges. You can set up your system to indicate how payment must be remitted to the card issuer. Your choices are:
- from your organization
- from the employee
- from both your organization and the employee
Next will share some setup activity to enable this functionality.