MosoFin · credit card reconciliation, in plain words

Is every charge on the company card accounted for?

People who are not the bookkeeper use a company card dozens of times a month. This skill checks every charge on the card statement. It checks that the charge is in your books, sits under the right account, has a receipt, and is for the business.

The 20-second version

You give it the statement and the receipts. It reads every card charge from your books and ties the statement balance to the card account. It matches receipts to charges and lists what is missing, duplicated, personal, or coded to the wrong place. Then it drafts the entries your bookkeeper would post. It never posts them. It never pays the card.

Where the numbers come from

The statement and the books should land on the same figure

Your books carry a card liability: what the company owes the issuer. The statement says the same thing from the issuer's side. They differ at month end for ordinary reasons. Two examples are a charge posted on the 30th that the issuer records on the 1st, and a payment still on its way. They also differ for one bad reason: a charge nobody entered. The skill walks the two figures towards each other and names every step.

YOUR BOOKS Card liability at 30 September$8,240.60 + Charge posted 30 Sep, issuer records it 1 Oct+ 340.00 − Charge on the statement, never entered− 148.50 Adjusted books$8,432.10 The $340 is timing. The $148.50 is a charge the books don't have, and it needs a receipt and an owner. THE STATEMENT Closing balance $8,432.10 42 charges · 1 payment Cardholder: D. Reyes They meet, to the cent
Example figures. In QuickBooks Online, you reconcile a credit card account the same way as a bank account. You enter the statement's closing balance. You tick what appears on it. You finish at a difference of zero5. The skill goes further than that bridge, because a balance that ties can still hide a personal charge and a laptop in the wrong account.
The mistake it catches

"The total was paid, so it's done"

The quick way to handle a card is to post the statement total, pay it, and continue to the next task. The balance ties. Nothing looks wrong. The skill reads every charge instead. It usually finds three things on a card that people only ever checked in total.

What the skill does

Every charge, against the statement, the receipts and your thresholds
Charge on the statement, not in the books$148.50
Software renewed monthly, last opened in March$1,188 / yr
Laptop coded to office supplies, over the $2,500 line$2,900.00
Receipts missing above your $75 policy1 of 42
The skill finds four exceptions, each with a severity, a next step and a name. It proposes entries to move the laptop to fixed assets and to record the missing charge.

The common shortcut

Post the total, pay the card, file the statement
Statement total posted to expenses$8,432.10
Card paid in full✓
Unused software still renewing$99 / mo
$2,900 asset expensed in one monthhidden
The balance ties, but the expenses are too high. The subscription renews again next month.
Receipts$75The IRS generally does not require a receipt below this amount for travel and business expenses, except lodging. Above it, you need a receipt1
Assets, not expenses$2,500This is the IRS de minimis safe harbor per item for a business without audited statements. The limit is $5,000 for a business with audited statements2
Disputes60 daysThis is how long you have, from the statement, to dispute a charge in writing. The issuer has 30 days to acknowledge the dispute3

The skill applies your own policy thresholds. The figures above are the published rules it compares them against. The skill never chooses a threshold for you.

One honest limit

It can read your books. It cannot read the card issuer, or a receipt

With MosoFin connected, the skill reads every card charge posted in your books. It also reads the card liability and its movement, the payments made to the card, and whether each charge has a file attached. No accounting connection shows it the statement or the receipts, so it always asks you for both. An attached file is not the same as a matched receipt. The skill reports these as two separate facts.

Without the statement it still does useful work. It reviews every posted charge and runs the three monthly tests. The three tests cover duplicates, recurring subscriptions with their annual cost, and purchases over your capitalisation threshold. It also lists what sits in suspense or uncategorised accounts. It calls that a posted-charge review, not a reconciliation, because the books cannot test themselves.

How a run starts

It asks six questions before it looks at anything

  1. Use MosoFin as your data source, or upload the files yourself?
    MosoFin is the connection to your books (QuickBooks and the other platforms you link). With it, the skill reads the data from there. Without it, you upload the files. The checks are the same. You need no subscription.
  2. Which card, and whose?
    The skill does one reconciliation per card. For a programme with several cards, it reconciles each cardholder, then sums the results to the statement.
  3. Which statement period, and does it match your accounting month?
    A 16th-to-15th statement against calendar-month books is the most common reason a card won't tie. It's structural, not an error, and the skill cuts by your dates.
  4. The statement.
    The statement is the one thing no accounting connection holds. The skill asks early so you know whether the result will be a reconciliation or a review.
  5. The receipts.
    You give the receipts, or an export from your receipt tool. The skill does not count a file attached to a charge in your books as a matched receipt.
  6. Your policies: below what amount is no receipt needed, above what amount is a purchase an asset, and can you reclaim tax?
    Your policy decides which missing receipt is acceptable and which laptop belongs in fixed assets. The skill never sets a default value for the thresholds. If you can reclaim tax, a card slip is not enough evidence. The receipt has to show the tax.

Then it reads your answers back: "Reconciling Dana Reyes's card for the September statement against the statement and receipts you uploaded, $75 receipt policy, $2,500 capitalisation line. Go ahead?" It waits for your yes.

What you need

Connect once, or upload three things

Connected with MosoFin

Say yes, then add the statement and receipts

  • It reads every posted card charge with its merchant, amount, date and account
  • It reads the card liability, its movement, and the payments made to the card
  • It can see whether a charge has a file attached, and which tax code the charge uses
  • You still give it the statement and the receipts, every time
Uploading instead

Bring the statement, the receipts and an export

  • Card statement for the period (PDF, CSV or spreadsheet)
  • Receipts, or an export from your receipt tool
  • Your books' card activity: the card account's transactions and its closing balance
  • You type the cardholder, the receipt threshold, the capitalisation threshold and the tax rules
What you get back

A balance that ties, every charge with its status, and the entries to post

The tie-outIt ties the books to the statement and names each reconciling item. If you did not give a statement, it says it did not do the tie-out.
Every charge, with a receipt statusEach charge shows a status of matched, below threshold, missing, disputed or refunded. The skill also shows whether the charge has a business purpose recorded. "File attached" and "receipt matched" are separate columns.
Exceptions, by severityThe exceptions are missing receipts, possible personal charges, duplicates, and subscriptions with their annual cost. Others are purchases over the capital line, charges sitting in suspense, and tax reclaimed with no invoice.
Proposed entriesThe skill drafts the entries in your real account names and marks them as proposals. It also says which way you already post card activity, charge by charge or by statement total.
What it never does
  • Never posts an entry or pays the card. It drafts. A person posts.
  • Never calls a review a reconciliation. Without the statement, the output says so.
  • Never treats an attached file as a matched receipt.
  • Never names an employee on test data, and never stores card numbers or individual spending.
  • Never reads anything before you say yes.
Words you'll hear

Six terms, in plain English

Statement period
The issuer's billing cycle. It often runs mid-month to mid-month, which is why it rarely matches your accounting month.
Reconciling item
A named, legitimate reason the books and the statement differ at month end, usually timing. Anything without a name is an exception.
Receipt threshold
The amount below which your policy doesn't require a receipt. The IRS's own line for most business expenses is $75, with lodging always needing one1.
Capitalisation threshold
The amount above which a purchase is an asset to depreciate, not an expense. The IRS safe harbor is $2,500 per item for most small businesses2.
Dispute
Telling the issuer a charge is wrong. In the US you have 60 days from the statement to do it in writing3. The skill tracks the amount and doesn't book the credit until the issuer decides.
Tax invoice
The document a tax authority requires before you reclaim tax on a purchase. Under UK VAT rules, the amount you reclaim is the VAT shown on the supplier's VAT invoice. A card slip proves you paid, not what tax the supplier charged4.
Sources

Where the facts on this page come from

The sources are tax authorities, the US consumer-finance regulator and the accounting software's own documentation. This page uses them as published when checked on 22 October 2026. Thresholds and deadlines change, so follow the link for today's wording. What the skill does comes from the skill's own file.

  1. IRS: Publication 463, Travel, Gift, and Car ExpensesDocumentary evidence is adequate if it shows the amount, date, place and essential character of the expense. Documentary evidence is generally not needed for an expense under $75 other than lodging.
  2. IRS: Tangible property final regulationsThe de minimis safe harbor lets a business deduct items up to $2,500 per invoice or item, or $5,000 with an applicable financial statement.
  3. CFPB: How do I dispute a charge on my credit card bill?Send a written billing-error notice within 60 days of the statement. The issuer must acknowledge the notice within 30 days and, if the issuer agrees, remove the charge.
  4. HMRC: VAT guide (VAT Notice 700)You reclaim input tax as the VAT shown on the supplier's VAT invoice. HMRC allows a less detailed invoice for £250 or less if the invoice carries the supplier's VAT number and the rate.
  5. Intuit: Reconcile an account in QuickBooks OnlineThe same reconcile screen covers bank and credit card accounts. You enter the statement's ending balance and date. You tick matching items. You finish at a difference of $0.00.

No outside authority backs these items: the receipt-status categories, the three monthly tests and the "review, not reconciliation" labelling. They are the skill's own rules. They are sound corporate-card practice, not a published standard.

About this skill

This page explains credit-card-reconciliation, from the MosoFin finance skills library, MosoFin/mosofin-finance-skills on GitHub. Read the skill on GitHub → Want the worked examples? Learn it step by step →