Confirming your input details
Once you have imported data via the CSV Upload or Xero Integration, you will now be presented with the Import Confirmation screen which will summarise the date range, number of transactions, number of suppliers and the transactions associated with each of the accounts as part of the import.
As part of the import confirmation process, you can decide how transactions in each account are handled. You have two options:
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Import Monthly Totals Only
- Choose to consolidate transactions into a monthly total or import them individually. Importing monthly totals of the account reduces the number of entries in the Carbon Ledger, simplifying coding. However, this may lead to less detailed data for that account. This option works best for high-volume, routine transactions (e.g., bank fees).
- Reconcile as Excluded
- Certain accounts, like salaries, GST, and balance sheet accounts (asset and liability accounts - e.g., accounts receivable), aren’t relevant for carbon accounting and should be excluded from the emissions assessment. Marking these transactions as “excluded” means they’ll automatically appear as excluded in the reconciled transactions screen.
- Most balance sheet (asset & liability) accounts can be excluded; an important exception is asset additions, which account for capital goods purchased during the year (e.g. vehicle purchases).
Common examples for exclusion:
- Bank accounts
- Income and revenue accounts
- Salaries and wages accounts
- Superannuation/pension payments accounts
- VAT/GST payments accounts
- Leave and other provisions accounts
- Prepayment accounts
Pre-Recognised Exclusions: The system automatically recognises several accounts as commonly excluded, like depreciation accounts. Upon import, it suggests including these as totals and excluding them, which can pre-reconcile 20-40% of transactions, saving you time.
Once the import confirmation is complete, all transactions will import and flow into the Carbon Ledger.