Daily bank feeds and automatic receipt matching with Zetadocs Expenses

Automatic import of payments and matching to receipts

Editor’s note: This post was originally published in May 2023 and has been revamped and updated for accuracy and comprehensiveness.

Corporate credit cards make it easy for employees to pay for business‑related expenses, but the follow‑up task of explaining each charge and matching it with the correct receipt often becomes a burden for both cardholders and finance teams.

Employees frequently find themselves hunting for misplaced receipts and carving out time each month to manually log and justify every transaction. Meanwhile, finance teams must reconcile card statements, check expenses comply with company policy, and ensure every purchase is accurately documented with the right receipt—a slow and labour‑intensive process when handled manually.

Zetadocs Expenses offers a solution.

Captured receipts automatically matched to card payments

Zetadocs Expenses, a comprehensive expense management solution designed for use with Microsoft Dynamics 365 Business Central, eases the whole process of managing corporate credit expenses, with features that include:

• Daily bank feeds: to automatically import card payments meaning they are quickly visible to cardholders for submitting their expenses, with no manual action needed by finance teams to upload these transactions. Integration is supported with most banks that issue AMEX, Mastercard and Visa credit cards.

• Easy receipt capture: photograph receipts using the phone app, which Zetadocs Expenses then analyzes to extract information (e.g. the vendor, amount, date and tax) before creating a new expense with the key information populated and the receipt attached automatically, with no manual rekeying of the receipt information needed.

• Automatic matching of receipts and payments: cardholders can capture their receipts using Zetadocs Expenses at their convenience, knowing that Zetadocs will then link the expense receipt to the relevant payment transaction automatically. 

Benefits for both cardholders and finance teams 

• Time savings: There is no need to manually rekey receipt data or manually import monthly bank statements. Additionally, there is no need to manually match expenses to credit card payments. This accelerates the statement reconciliation process, which can focus on those unmatched exceptions only rather than go line-by-line.

• Convenience: It is easy and quick to capture receipts and submit expenses, which is very important for corporate cardholders who often have little incentive to submit expenses on time where no reimbursement is due.

• Accuracy: The automatic capture of receipt and credit card transaction data ensures the inevitable mistakes that occur with manual data entry are avoided, so that expenditure is always recorded accurately.

How it works? 

1. Create a new expense: the cardholder can choose how they do this: 

• By uploading a new receipt which Zetadocs Expenses then analyzes, using smart OCR technology, to extract the receipt information and create a new draft expense automatically. 

• By selecting a card payment which Zetadocs Expenses will then use to create and populate a new draft expense, and the cardholder then needs to attach the relevant receipt.

2. Expense is matched to a payment automatically: this happens immediately if the payment is already available, otherwise it will happen later at the point when the transaction is imported as a new payment (via the bank feed, or a manual upload of the monthly statement if using that option instead). 

3. Submit for approval: the cardholder can add additional information to the expense if they wish (such as a note to justify the expense) and then bulk select all their expenses to add to an expense report (including any other reimbursable expenses they may have such as mileage and daily allowances) and submit for approval.

4. Export to Business Central: approved expenses are exported automatically, all coded with the correct GL account, tax code, dimensions etc.  

5. Bank statement reconciliation: this can be done within Zetadocs Expenses using a Payment Card Report, which separates out those expenses that haven’t yet been matched to an approved expense. Alternatively, the reconciliation can be done in Business Central, in which case Zetadocs Expenses will export approved expense reports directly to a Business Central Journal with the balancing account set as a bank account, GL account or vendor. 

Want to find out more?

If you would like to know more about Zetadocs Expenses, please browse our website or Microsoft Marketplace for more information.

Please don’t hesitate to contact us directly or speak to your Dynamics partner if you would like to know more and discuss your requirements further.