Each month, between the statement date and the payment date printed on your card statement, go through the statement line by line. Give every line a bill, what it was for and who used the card, then mark it matched, bill missing, not recognised or refund awaited. Download missing bills the same day, raise lines nobody recognises with your bank through its own process, carry refunds awaited to next month's sheet, and give any personal spends to your accountant as a list.
Why the total is not the check
The statement total is what the bank says was spent on the card. Whether each line was the business's, was for something you meant to buy, and has a bill behind it is a check only you can make. Bills for card spends sit in several email inboxes and vendor portals, and once the statement is paid, a line nobody recognised is easy to forget.
When to do it: between statement and payment
Your statement shows a statement date and a payment date. The days between them are the natural window: the lines are fixed, and nothing has been paid yet. The dates are the bank's, as printed on your statement; this page sets none.
One row per line: bill, purpose, who
Make one sheet per statement, with one row for each line:
- date, as printed;
- merchant, as printed;
- amount;
- bill found (the file name, or "missing");
- what it was for;
- who used the card (main card or add-on card);
- status.
Decide who holds an add-on card, and who checks its lines.
Four statuses
Every business line gets one of four statuses:
| Status | Meaning | What you do |
|---|---|---|
| matched | A bill is found and filed | Nothing more |
| bill missing | The spend is known, but no bill is filed | Download it from the vendor's portal, or ask the person who used the card |
| not recognised | Nobody can explain the line | Raise it with your bank (below) |
| refund awaited | A booking was cancelled or an item returned, and the refund has not yet appeared | Carry it to next month's sheet until it does |
Not recognised: take it to the bank
Raise lines nobody recognises with your bank through its own process, the same week. Write the date you raised it and the bank's reference on the row. What happens next is set by your bank's own card terms.
Personal spends and subscriptions on the card
A personal spend on the business card is not a business line, so it does not get one of the four statuses: mark it personal instead, and give the list of personal lines to your accountant. Ask your accountant how to record each line.
The other way round, when staff pay a business cost with their own money, they claim it back.
For subscriptions paid on the card, tick each charge against your list of renewals. A charge for something you thought was cancelled is a not recognised line until someone explains it.
When the card bill is paid, that payment appears on your bank statement, where it is matched with the rest of the bank account.
Worked example: a translation agency in Thiruvananthapuram
Illustrative example: a fictional translation and localisation agency in Thiruvananthapuram; October statement, amounts as on the statement. The agency has 11 staff and one business credit card, held by the owner, with one add-on card for the office manager. All details are invented.
The October statement has 38 lines. The office manager fills in the sheet:
| Line | Lines |
|---|---|
| matched | 30 |
| bill missing | 4 |
| not recognised | 2 |
| refund awaited | 1 |
| marked personal (no status) | 1 |
| Total | 38 |
30 + 4 + 2 + 1 + 1 = 38: 37 business lines with one of the four statuses, and 1 personal line.
The 4 missing bills are downloaded the same day from two software portals and one airline booking site. The personal line goes on the list for the accountant.
The 2 lines nobody recognises are for ₹1,250 and ₹2,890, ₹4,140 in all. The owner raises them with the bank before the payment date and writes the date and the bank's reference on each row.
1,250 + 2,890 = 4,140.
The refund awaited is a cancelled train booking of ₹2,400. It is carried to November's sheet.
Statement sheet (template)
Monthly statement sheet:
| Date | Merchant (as printed) | Amount (₹) | Bill found (file name or "missing") | What it was for | Who used the card (main / add-on) | Status (or "personal") | Raised with bank on / reference |
|---|---|---|---|---|---|---|---|
Carry-forward list:
| From statement | Date | Merchant | Amount (₹) | Waiting for | Cleared on |
|---|---|---|---|---|---|
Checking your card statement each month?
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