Period management

Period Management is the functionality used by an administrator to extract output files for your finance system. It is also the function that allows for approval rules and transaction defaults to be reapplied/refreshed by the system against transactions in each period.

To access this functionality, select Administration > Period Management > Statement Periods from the main menu. In the Statement Periods screen, you can generate extract files from Shared Travel Services for uploading into your organization's finance system.

Extract files you create depend on your organization's setup and account types, eg. card (from one or more issuers), out of pocket expenses, phone or requisitions. Shared Travel Services supports the following extract types:

• Final (and optionally) Accrual). After a statement period has ended, it is manually closed and a final extract (also known as a period extract) is run to permanently extract all transactions (regardless of their coding and approval status) from the system. An accrual extract can be optionally run before the period is closed (and a final extract is run) to temporarily load financial commitments into your finance system for analysis. An accrual extract only extracts transactions that have been correctly coded (ie. those with green check or green question mark status), and it requires a specific file format that tells your finance system the transactions are reverse transactions (ie. not permanent).
• Drip Feed. A drip feed extract is used to extract all fully coded, approved transactions many times during a period, preferably until nothing is left to extract. If incomplete transactions do exist, the drip feed flush extract option can be used to clear (and close) the period. An accrual drip feed extract can be run before the standard drip feed extract to temporarily load financial commitments into your finance system for analysis.

Typically, organizations aim to complete transaction coding and approvals during the monthly cycle so that period closure and posting against their financial system is aligned with the necessary settlement payment to the card provider.

Note: Extract files may be encrypted using PGP (Pretty Good Privacy) technology. This requires some customer configuration. For more information, contact your helpdesk.