Exploring the Basics of Payment Types

This unit explores the essential components of payment types. Throughout this unit, you gain a comprehensive understanding of payment types, including insights into how to access and manage them.

After completing this unit, you are able to:

• Access payment types and corporate card programs.
• Add corporate cards.
• Deactivate corporate cards.
• Rename out-of-pocket payment type.
• Set up a default payment type.
• Deactivate a default payment type.
• Access references.

Understanding payment types in Concur is critical as it clarifies the method used for each expense, aiding in tracking and reconciliation processes. It helps differentiate expenses paid directly by the company (such as company credit cards) from out-of-pocket expenses paid by the employee.

This distinction is essential in managing reimbursements, ensuring accurate reporting, and maintaining a clear and transparent financial record.

Also, the Payment Types page lets you manage company card programs and their associated data imports. Card programs can be added, removed, or modified for cards paid by employees and cards paid by the company. Each card program type can be configured with accounting information and a payment batch schedule. You can also manage the default payment type used to classify employee spending.