One-time Virtual Cards can be used to pay your vendor for the expense in one lump sum.
Here are some examples:
- A one-off marketing expense (renting a space for an event).
- A gift card from Apple online store.
- A one-time purchase of furniture by the office manager.
Another way to think about a One-time Virtual Card is giving an employee a budget on a card for a limited amount of time.
The person who creates the card is the spend owner and will be contacted for any developments.
Here’s how you create a One-Time Virtual Card-
- Go to the Dashboard or Virtual Cards page.
- Click on the Create button on the top-right corner.
- Search for the Service or Item to purchase.
- Add the Cost.
- Select One-Time.
- Add the following details:
|Expiry Date||Set a date for the card to expire. The Expiry Date on the card can be set up to six months from the day of creation.
If the transaction date falls on the same month as the card Expiry Date, the transaction may get declined for some vendors. Create a new Virtual Card to pay for the expense.
|Number of Transactions||Number of Transactions can be set to one, two, three or unlimited. Setting the transaction to Unlimited will help you make extra spend on a card with the set budget before the card expires.
This option can be used for one-time expenses, like an event that you expect to have multiple transactions.
|Category, Tags (Line Level), Tags (Transaction Level)||To help the accounting team to book your expense in the General Ledger. If you're unsure of the Category, pick one that's closely related to the vendor. The Accounting team can change it later.|
|Notes||Leave notes about the expense.|
|Create GL Entry after card is charged||Based on the Categories and Tags set, sync the transactions to the General Ledger automatically.|
Airbase system timezone is in UTC
If the vendor is not available in the pre-existing list, you can key in your vendor name and select the option that says (New Service) in the dropdown list. When a new service/vendor is selected, a new field called 'Service Website URL' will appear, where you can add the website of this new vendor/service.