Import Transactions

Importing transactions automates the data entry process, saving you time and reducing manual effort. This is especially helpful when dealing with a large volume of expenses. Additionally, importing transactions ensures data consistency in format and structure, making it easier to analyze, categorize, and report on expenses.

Benefits of Importing Transactions

• Consolidate Multiple Sources: You can combine transactions from various sources, such as credit cards and bank accounts, into one central hub, providing a unified view of all expenses.
• Direct Feed Integration: Through the Import Transactions menu, you can set up direct feed integration, where corporate card feeds are automatically imported from the card service provider. Submitters can then match these card transactions with existing expenses or create new expenses from them.
• Auto-Creation of Expense Reports: ExpensePoint can automatically generate expense reports based on your credit card statement cutoff dates. If your statement dates vary monthly, please contact support for a workaround.

Automated Processing Features

• Imported transactions are automatically added to expense reports. You only need to categorize the expenses and attach receipts.
• If you have SIC (Standard Industry Classification) mapping set up, the system can auto-categorize expenses based on the SIC codes from the statements. This auto-categorization works only if the category digits remain consistent each month.

Note: The four-digit category code from the statement cannot be assigned to multiple categories (e.g., both “Employee Meals” and “Meals and Entertainment Client”).
[image of import transactions menu option]

Steps to Import Transactions

1. Open the Transaction Manager
   Navigate to the Transaction Manager module at the top of the window.
   
2. Navigate to Import Transactions
   From the Tasks menu in the left-side navigation panel, select Import Transactions.
   
3. Select the Template
   The Import Transactions screen will open, prompting you to select the Template for your file import.
   Note: You must have a template set up prior to importing transactions. Learn more about creating a template from this article.
   The selected template will “translate” the imported file into the proper format for the ExpensePoint system.
   
4. Select the File
   Choose the file to import by clicking the Browse option.
   Note: Ensure the file matches the template format and is not already open on your desktop, as this will prevent the upload.
5. Reimporting
   If you are reimporting a file, check the box labeled Update existing transaction only (reimport).
   
6. Completed Import
   Once the import is complete, verify the results by going into the Expense Manager module, then selecting the Transaction option from the Entry Tasks navigation menu. The imported transactions should now appear in the Transactions list.