The monthly card statement - solved.
Credit card statements carry a balance, need classifying before close and have their own lifecycle. OmniPATH handles this natively - upload, classify, code, close.
Seven steps. One locked statement.
OmniPATH gives credit card reconciliation a first-class workflow - from statement upload to locked period, with a close gate that will not let finance proceed until every line is classified.
From statement to locked books.
Four capabilities combine to make credit card reconciliation a process finance can actually run in under an hour.
Every line gets a classification.
Each transaction on the statement is classified as Business, Personal or Unclassified. Business lines go to the GL. Personal lines are flagged for employee recovery. Unclassified lines block the close gate - finance cannot close the period until every line has a classification.
OmniPATH pre-classifies lines automatically using vendor history and category rules from the expense module. Lines the system is unsure about surface in a review queue for finance to handle - typically just a handful per statement.
- Business - posted to GL against the appropriate account
- Personal - flagged for employee recovery (deducted from next pay or invoiced)
- Unclassified - held in review queue, blocks close gate
- Auto-classification using vendor history and category rules
- Bulk-classify similar vendors in one action
No unclassified lines. No close.
The close gate is a hard check that runs before finance can lock the period for a card. All three conditions must pass: every line is classified, every business line has a reason code or GL account, and the variance between classified amounts and the statement balance is zero.
If any condition fails, the gate shows exactly which lines are blocking it. Finance can jump straight from the gate to the offending lines and resolve them inline - no hunting through the statement manually.
- Every line classified (no Unclassified status remaining)
- Every business line has a reason code or GL account
- Classified total equals statement balance (variance = zero)
- Gate failure links directly to the blocking lines
- Pass state triggers period lock and audit record
Rolling balance. Per card.
Credit cards carry a rolling liability - the balance you owe the card issuer at any point in time. OmniPATH tracks this balance per card as statements are uploaded and payments are recorded, so finance always knows the current liability position without opening a spreadsheet.
The liability balance feeds the card summary dashboard, which shows all registered cards side by side with their current balance, last payment date and next statement due date. Useful for cash flow planning and for making sure no payment is missed.
- Rolling balance per registered card
- Updated on statement upload and on payment confirmation
- Overdue balance flagged automatically
- Payment recorded and matched to the liability
- Historical liability trend available per card
What reconciliation looks like without the spreadsheet.
Reconciliation by the numbers.
Credit card reconciliation - answered.
Can I upload statements from multiple cards in the same period?
What happens to transactions the system cannot auto-classify?
How does the variance check work - what exactly does it compare?
Does the liability tracking connect to our accounting system?
Reconcile your first statement in 20 minutes.
Upload a card statement, classify every line and lock the period - all in one session. Book a demo and we will walk through a live statement together.