Overview
Expense policies may require certain items that cardholders submit to have the expense approved. You may enable auto-lock on spend for your expense policies, which will give cardholders a selected number of days to submit their required items before their virtual card or allocated fund automatically locks. These items include receipts, memos, and QuickBooks/Sage/NetSuite/Xero requirements.
How it works
Once auto-lock is enabled, the virtual card or allocated fund is automatically locked if a transaction with the submission policy is missing any required item after the allotted time.
If a cardholder needs more time to submit their required items, as an admin or the cardholder's manager, you may adjust the period in certain increments for the cardholder, which will unlock their spend for a selected number of days, allowing them to gather and submit their requirements. Admins and managers can always make adjustments to their own spend.
Currently, you can adjust the auto-lock period in the following increments outside of your set auto-locked period:
- 7 days
- 14 days
- 30 days
- 60 days
How to make incremental adjustments
To modify the auto-lock period for expense requirements, follow these steps:
- Go to the Settings tab and select Expense Policy
- Choose Expense Requirements
- Click on Edit next to any requirement you wish to adjust the auto-lock period for.
- A modal will appear, presenting you with various incremental lock periods to choose from.
- You can easily revert to the original auto-lock period if needed.
The virtual card or allocated fund will be unlocked for the selected number of days. It will lock again in the selected number of days if it is still in violation.