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Using PEX Cards with Tallie

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PEX Card is a prepaid business card that replaces the need for cash advances or petty cash. With Tallie & PEX Card integration, all purchases will appear immediately within Tallie so you can authorize and monitor employee spending in real-time. To learn more about PEX Cards, visit their website. This article will show you how to create Other Current Asset accounts, record the funds used, and deduct/offset PEX card balances after exporting to QuickBooks. 
 
Create an Account in QuickBooks

To create a cash advance account in QuickBooks:

  • Open the Lists menu and click Chart of Accounts. pex1.png
  • Click the Account button in the lower-left corner and click New. pex2.png
  • Select Other Account Types, choose Other Current Asset, and then click Continue. pex3.png
  • Complete the details for your account. We recommend naming it “PEX Card Expenses.”
  • Click Save when completed.

Record PEX Card Funds in QuickBooks

  • To record PEX Card funds, first, create a bill in QuickBooks and enter the following:
    • Vendor = PEX Cardholder’s vendor name
    • Account = PEX Card Expenses
    • Amount = funds loaded on the PEX Card
    • Memo = [Employee Name] PEX Card pex4.jpg
  • Pay the bill to cut the check once the bill is created:
    • Click Pay Bills in the Main Menu. 

pex5.jpg

    • In the Pay Bills window, make sure the newly created bill is selected, and click Pay Selected Bill. pex6.jpg
  • And then, create a credit:
    • Click on Vendors.
    • Click on Enter Bills.
    • Select Credit and enter the following:
      • Vendor = PEX Cardholder’s vendor name
      • Account = PEX Card Expenses
      • Amount = funds loaded on the PEX Card
      • Memo = [Employee Name] PEX Card pex7.jpg
  • Check your work:
    • Go to Chart of Accounts and view the PEX Card Expenses account.
    • Make sure that the Bill and Vendor Credit are both present.
    • The account should have a zero balance. pex8.jpg

Apply PEX Card Funds Towards Employee's Expense Reports

Once the employee’s expenses have been exported to QB, follow the steps below to apply the debit memo towards the user’s reimbursement.

  • In Tallie, configure your settings to export reimbursements as bills
    • Go to Settings.
    • Click on Integration & Sync.
    • Click on Export Settings.
    • Select payment export type: Bill.
    • Save. pex9.jpg
  • Export an expense report.
  • Once the bill has been exported to QuickBooks, go to Pay Bill:
    • Click on Set Credit. pex10.jpg
    • Select a credit a click Done. pex11.jpg
    • Click on Pay Selected Bills.

Please Note: The credit balance is the remaining funds on the PEX Card, which can be kept to use later. If your employee spent more than the total funds, the excess will be paid with the bill.

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