Account Holder Report and Financial Activity and Balances (FAB) Report updates

Correction as of March 22, 2023: This enhancement is being postponed to the near future to ensure no adverse impact on the quarterly close. Additional information will be provided via Business Update once a new date has been set.

Update as of May 10, 2023: This enhancement has been scheduled for May 22, 2023, a new Business Update was published.

Summary

• The merchant field from Expense Reports will be available on the Account Holder Report (AHR) and Financial Activity and Balances Report (FAB) starting on March 27.
• Previously, the merchant’s name on the Expense Report (ER) displayed as “Expense Report” in the payee field on the AHR and FAB reports. The merchant’s name will now be displayed in the payee field for expense lines on the AHR and FAB reports.
• This improves the visibility for account holders to review merchants associated to expense items charged to their account(s), along with improved expense trend reporting and analysis for spending reviews and budget analysis.

Details

The merchant name, which will display on the Payee Trend and Transaction Detail sections of the reports, will be derived in the following ways:

• When a standardized merchant name is available, that merchant will appear in the Payee field. This will reduce or eliminate instances where a single merchant appears on expense reports in multiple ways (e.g., Stop and Shop #588, Stop and Shop #43) or with extraneous information (such as individual ticket numbers).
• Where a standardized merchant name is not available, the merchant name entered on the expense report will appear in the Payee field.
• In specific circumstances where the merchant is left blank, the report will display “No Merchant Name” in the Payee field.
• Accounting Adjustments for Expense Reports will continue to reflect the employee name associated with the adjustment in the Payee field as they do today.

In general, feedback from business community representatives who previewed the change was positive, particularly on the Transaction Detail pages, where a more complete picture of that transaction will now be found.

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