oboloo Glossary

Corporate Credit Card Reconciliation Process

oboloo Glossary

Corporate Credit Card Reconciliation Process

Corporate credit card reconciliation is a process that seeks to ensure that all expenses on a company’s corporate credit cards are valid and accurate. It involves reviewing each transaction to verify the accuracy of the details and ensure it was properly recorded in the organization’s financial records. This process ensures that the company does not incur unnecessary costs or be exposed to any fraudulent activity. It also helps the company make sure its statutory obligations, such as filing tax returns, are met. Ultimately, this process helps maintain internal controls and enables the company to accurately account for its financial situation.