Keep timely on expense submission

For those of us who are holders of association credit cards, this is a reminder of the importance of timely submission of expense reports, via Expensify.

Why is this important? First, all expenses must be validated and reconciled before the credit card statement is paid. This is prudent and necessary and cannot be done without cardholder submission of the expense with coding and explanation. Second, expenses that are not substantiated end up on the income statement as "unidentified expenses." This is not responsible financial reporting and our reports are delivered to our Budget & Finance Committee monthly and audited annually. Please help

For those of you who get everything in promptly, a huge thank you. For those of us who occasionally, or more often, need help, here are a few tips that can help.

• Submit expense reports frequently via Expensify. The quicker I get them in, the less likely I am to miss anything.

• Create an an online account with American Express or Chase, depending on which card you carry. You can see all expenses for your card there and check against what you have submitted.

• Link your credit card to your Expensify account. Here's how. By doing so, all credit card transactions are imported into your Expensify account as expenses and helps you keep track of charges that have been made.

It's completely understandable to miss an expense or two from time to time. Accounting can help with that. The point is to help move away from a reliance on an extremely inefficient process.

As a reminder, credit card statements release around the 9th of the month and are paid by the 20th. That's the window where everything must have been received via Expensify. For more information, including a Q&A, please refer to the Credit Card Policy which was signed upon receipt of each card.