Card on File Monthly Funding Report

Modified on Fri, Mar 13 at 5:34 PM

Managing Monthly Funding for Card on File

Overview: To ensure seamless transaction processing and avoid payment failures, it is essential to maintain sufficient liquidity in your linked bank accounts, especially with the Card on File payment method. To support this, the Card on File Funding Report (found under the Reports tab) enables you to determine exactly how much capital to allocate to each location or linked bank account at the start of each month.

How it Works: The report calculates the Holistic Card Limit for all active cards across locations and accounts, and shows the Total Card Limit for all active cards within a specific location or account. By funding your bank accounts to match this limit, you ensure Ottimate can process transactions with available funds for withdrawal.

Key Report Columns:

Column Name	Description	Purpose
Company	The top-level legal entity associated with the accounts.	Identification
Location	The specific site or sub-entity where the cards are assigned.	Granularity
Active Cards	The total count of cards currently in an "Active" status for that location.	Asset Tracking
Total Monthly Spend Limit	The aggregate sum of all individual monthly spending limits for every active card in that location.	Funding Target: Use this total to allocate funds to your bank account on the 1st of the month.

Best Practices for Reconciliation: To transition from review to action, at the end of the month, compare this report with your Payment Register Report, filtering for the CoF payment method to see the actual spending.

Funding Report: Shows what you allocated (Total Limits).
Payment Register: Shows what you actually utilized (Actual Spend).