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Create a “Refund to Company” expense

Learn how to input a refund or credit

Written by Anna Allen

Purpose

This article provides the steps for creating a Refund to Company expense in U.S. Bank NextView™. It also discusses how to submit Refund to Company expenses and Personal Card/Reimbursable expenses in the same expense report.

Audience

This article is directed toward employees with a NextView account who need to submit expense reports.   

Overview

Sometimes you may need to enter an expense that credits back to the company. For example, you may have purchased an item, received a reimbursement for it, and later needed to return the item. This could also happen if an earlier expense is prorated or partially refunded.

In this case you can enter an expense that credits back the company by creating a Refund to Company expense. (See the linked video for a visual of the steps.)

Create a Refund to Company expense

Note: Review our expenses user guide to learn more about expenses.

To create a Refund to Company expense, take the following steps in either the mobile app or web app.

Use the NextView mobile app

  1. From the mobile app home screen (that is, the Expenses & Transactions page), select the "+" (plus) icon. This brings up a drop-down menu.

  2. Select “Refund to Company” (see Figure 1).

    Figure 1. Mobile app Expenses and Transactions page, the plus icon has been selected and a dropdown menu appears with Refund to Company outlined for emphasis

    Figure 1. Mobile app, Refund to Company option when adding an expense
    ​
    This redirects you to a Refund to Company screen where you can add additional information about your expense (see Figure 2).

    Figure 2. Mobile app Refund to Company page showing several fields, including merchant, total, category, and allocation

    Figure 2. Mobile app, Refund to Company form
    ​

  3. Complete the form fields, including adding allocations and itemizing your receipt if needed (see Figures 3 and 4).
    ​
    ​Note: OCR (optical character recognition) does not scan images or receipts for refunds. To ensure the accuracy of Refund to Company receipts, enter the information manually.

    Figure 3. Mobile app Allocate Expense page, including Department, Percentage, and Amount fields

    Figure 3. Mobile app, Allocate Expense form
    ​
    ​

    Figure 4. Mobile app Itemized Expense page, including Item Amount, Category, and Description fields

    Figure 4. Mobile app, Itemized Expense form

  4. Select “Save” to complete your expense.

Use the NextView web app

  1. On your NextView dashboard, select “Add an Expense”, or, if you’ve already added at least one expense, then the blue plus sign at the top-right of the My Expenses & Reports section. This brings up a drop-down menu.

  2. Select "Refund to Company" (see Figure 5).

    Figure 5. Web app Dashboard page; the Add an Expense button has been selected and a dropdown menu appears with Refund to Company outlined for emphasis

    Figure 5. Web app, Refund to Company option when adding an expense
    ​
    This redirects you to a Refund to Company screen where you can add additional information about your expense (see Figure 6).

    Figure 6. Web app Refund to Company page showing several fields, including merchant, amount, category, and payment method

    Figure 6. Web app, Refund to Company form
    ​

  3. Complete the form fields, ensuring that you select the original payment method from the "Payment Method" dropdown menu.
    ​
    ​Note: OCR (optical character recognition) does not scan images or receipts for refunds. To ensure the accuracy of Refund to Company receipts, enter the information manually.
    ​

  4. Select “Create Expense” to complete your expense.

Submitting both Refund to Company and Personal Card/Reimbursable Expenses in one expense report

If your expense report has a mix of Refund to Company expenses and Personal Card/Reimbursable expenses, the amount to be refunded to the company is deducted from the reimbursement you would receive.
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Getting a reimbursement from the company

If the Personal Card/Reimbursable expense amount is more than the Refund to Company expense amount, you receive a reimbursement.
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For instance, in the following Figure 7, the Personal Card/Reimbursable expense is $100.00 and the Refund to Company expense is -$50.00, so the Total Amount for these two expenses is $50.00. In this example, $50.00 is the amount that will be reimbursed to you when the expense report is approved.

Figure 7. Web app, Expenses and transactions page showing two expenses totaling fifty dollars to be paid from the company to the employee

Figure 7. Web app, Reimbursement from company

Paying back company expenses

If you are not submitting for reimbursement, or if the Personal Card/Reimbursable expense amount is less than the Refund to Company expense amount, you need to make the full or partial payment back to the company outside of NextView.

Note: Consult with your manager or a member of your company's finance team to confirm your company’s policy on how to pay back money owed.

For example, in the following Figure 8, the Personal Card/Reimbursable expense is $50.00 and the Refund to Company expense is -$100.00, so the Total Amount for these two expenses is -$50.00. In this example, your company will not refund you at all and $50.00 is the amount that you need to pay your company when the expense report is approved.

Figure 8. Web app, Expenses and transactions page showing two expenses totaling negative fifty dollars, or fifty dollars to be paid from the employee to the company

Figure 8. Web app, Paying back company expenses

Note: You may want to consider creating an expense category for users to choose in order to help identify accidental personal charges on a corporate card. Users should not use a Refund to Company expense if there was an accidental personal charge on a corporate card.

Frequently asked questions

If I accidentally use my company credit card for a purchase and then have the merchant process a return, can I use Refund to Company to report the return?

Your company may want you to handle the transaction in this way, but you’ll need to consult your manager or a member of your finance team to confirm your company’s policy.

Do I need to upload a receipt when I create a Refund to Company expense?

NextView does not require receipts for Refund to Company expenses. We recommend, however, that you consult with your manager or a member of your company's finance team to confirm your company’s policy on this.

If I create a new Personal Card/Reimbursable expense, can I change it to a Refund to Company expense later?

Personal Card/Reimbursable expenses cannot be changed to Refund to Company expenses, and vice versa. If you create a Personal Card/Reimbursable expense by mistake, you can delete it and then create a Refund to Company expense.

For Admins and Finance users

When the employee owes money, how does NextView process the refund?

Nextview expense management does not facilitate employee payments to the company; employee payments to the company must be handled outside the system. Consult with your manager or a member of your company's finance team to confirm your company’s policy on how to pay back money owed.

How are Refund to Company expenses synced over to the General Ledger?

Refund to Company expenses are always synced as “Credits” rather than “Debits” journal entries.

Note: This is only for NetSuite and QuickBooks Online integrations, as shown in the following example (see Figure 9).

Figure 9. QuickBooks Online journal entries spreadsheet showing two expenses, one of which is the Refund to Company expense and marked as a credit

Figure 9. QuickBooks Online journal entry as credit

Need help?

If you need help, contact the NextView support team:

Publish date: December 30, 2024

Last update: NA

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