Credit Card Reconciliation

Our credit card has more of our typical day to day transactions like software. The process is pretty simple. You just go through each item and ascertain its purpose. Most of the transactions are recurring and you can find the prior transaction to double-check that it makes sense. Xero auto-populates the details for most transactions.

We currently have two credit cards active in Chase. The new one has a higher cash back %. Over time we are transitioning as much of our transactions as possible to the new card. They are separate bank accounts in Xero.

There are some lingering transactions where we pay for something on behalf of a client. These are logged under "Pending Reimbursable Client Expenses". Over time we should be ensureing that this account gets zeroed out by Expense line items on our invoices. However, as of now we are not very careful about that.

As of now, the credit card amounts in Xero and Chase do not match properly. There is a slight difference which we don’t have an explanation for and need to address long-term.