Effortlessly Attach Receipts to Concur Credit Card Transactions

Managing business expenses can be a cumbersome process, especially when it comes to tracking and documenting each transaction. With the advent of modern tools like Concur, this task has become considerably more manageable. One of the critical features of Concur is the ability to effortlessly attach receipts to credit card transactions, ensuring that expense reports are complete, accurate, and easily verifiable. This guide will walk you through the steps to utilize this feature efficiently, enhancing your organization's expense management process.

Why Attach Receipts to Credit Card Transactions?

• Compliance: Many companies have strict policies requiring receipts for all transactions. This helps in maintaining compliance with both internal and external audit requirements.
• Expense Verification: Attaching receipts allows for verification of the expense, reducing the chance of discrepancies or errors in reporting.
• Reimbursement: To ensure employees are reimbursed promptly, the process needs clear documentation. Receipts serve as proof of purchase.
• Tax Deductions: For business purposes, attaching receipts can support tax deductions, minimizing the need for additional documentation during tax season.

Steps to Attach Receipts to Concur Credit Card Transactions

1. Import Transactions:

   Start by importing your credit card transactions into Concur. This can be done by syncing your credit card with Concur or manually entering the transactions.

2. Select Transaction:

   Go to the list of imported transactions and click on the specific transaction for which you need to attach a receipt.

3. Attach Receipt:

   Within the transaction details, there will be an option to attach a receipt. Click on this, and you can either:

   • Upload the image of the receipt from your computer or device.
   • Use the Concur mobile app to take a photo directly.
4. Confirm and Save:

   After attaching the receipt, ensure all details match the transaction (amount, date, merchant) before saving the changes.

       <p class="pro-note">💡 Note: Make sure the receipt is legible and captures all necessary information including merchant name, date, amount, and itemized list of purchases if applicable.</p></li>
   <li><strong>Submit for Approval:</strong>
       <p>Once the receipts are attached, complete your expense report and submit it for approval. Concur's workflow will guide you through any additional steps required by your company's policy.</p></li>
   

Tips for Efficient Receipt Management

• Use OCR Technology: Some versions of Concur come with Optical Character Recognition (OCR) which can extract data from receipts, reducing manual entry.
• Save Receipts Immediately: Attaching receipts as soon as possible after the transaction helps maintain accuracy and reduces the chance of missing receipts.
• Organize Receipts: Develop a system to categorize and organize receipts for easy retrieval during audits or for future reference.
• Backup Digital Receipts: Keep digital copies in a cloud storage service or on your local system for backup purposes.
• Implement a Receipt Policy: Establish guidelines on what constitutes an acceptable receipt and when they need to be attached to transactions.

Common Challenges and Solutions

• Lost Receipts:

  If a physical receipt is lost, you might need to:

  • Contact the merchant for a duplicate.
  • Use credit card statements as supporting documentation.
  • Use Concur’s missing receipt affidavit feature.
• Technical Issues:

  Issues with uploading receipts can often be resolved by:

  • Checking the file size and format of the receipt image.
  • Ensuring there’s enough memory on the device or internet connection for uploading.
  • Contacting Concur support for technical assistance.
• Non-Compliant Receipts:

  If receipts do not meet the company’s standards:

  • Revise the company policy and communicate changes to all employees.
  • Provide training on what constitutes a valid receipt.
  • Set up workflows in Concur to flag non-compliant receipts for review.

By utilizing Concur's capability to attach receipts to credit card transactions, businesses can streamline their expense reporting process. This practice not only simplifies expense tracking but also enhances transparency, reduces errors, and facilitates audit readiness. As you become familiar with these steps, integrating this process into your regular workflow will become second nature, ensuring that every expense report is comprehensive, compliant, and ready for approval.

What happens if a receipt is lost?

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If you lose a receipt, try to contact the merchant for a duplicate. If that’s not possible, use your credit card statement or Concur’s missing receipt affidavit feature.

How can I ensure the quality of the receipts?

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Ensure that the receipts are legible, contain all necessary details, and follow company policy. If possible, use OCR technology for better readability and data extraction.

Can I attach receipts via the Concur mobile app?

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Yes, the Concur mobile app allows you to take photos of receipts directly from your device and attach them to transactions.