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Posted on December 26th, 2007 by Sanjit Anand | Post Print This Post | Email This
Have you joined Hub Community Network Forums of OracleaApps professionals? Don't wait. Do it today 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: 1. 2. 3. 4. 5. 6. 7. 8. 9. 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: 1. 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. 2. 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
qualified transaction will ensure that the business gets the lowest qualified processing rate that they are signed up with. If the criteria for being qualified is not met, the transaction downgrades. When a transaction downgrades, an additional processing and/or transaction fee is also assessed on the transaction. Downgrade charges can be costly for some businesses do it is important to know what is required for a transaction to be qualified.
Level 1 transaction are your standard retail transaction. The card holder is using a personal credit card issued from an American bank. Level 2 transaction are normally corporate cards issued from an American bank. Level 3 transaction are government credit cards or corporate cards. Level 1 and 2 transactions can be run through a standard credit card terminal or PC processing program if setup correctly. Level 3 transactions require special software to transmit the extra information required to qualify the transaction. Businesses that have many downgrades due to corporate and government card acceptance should look into a level 2 or level 3 processing solution to avoid downgrading.
Level 3 itemizations only occur if they are provided at the time the transaction is imported and validated; and If level 3 itemizations are not available at the same time as the transaction, level 2 itemizations are used if they exist.
If you enable automatic itemization, then Transaction Detail Wait Days is not a required field. However, since it is possible to have long merchant wait periods, it is recommended that you assign a default wait period to each card program. See: Appendix C, Processing Corporate Credit Cards, Oracle Internet Expenses Implementation and Administration Guide.