Confirm your import details
Decide which accounts to import as monthly or as excluded
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 General ledger accounts as part of the import.
As part of the import confirmation process, you can decide how transactions in each general ledger (GL) account are handled. You have two options:
- Import Monthly Totals Only
- Choose to consolidate transactions into a monthly total or import them individually. Importing monthly totals 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 GL accounts, like salaries, GST, and balance sheet accounts (e.g., accounts receivable), aren’t relevant for carbon accounting and should be excluded from the GHG Inventory. Marking these transactions as “excluded” means they’ll automatically appear as excluded in the reconciled transactions screen.
- Income and revenue
- Salaries and wages
- Superannuation/pension payments
- VAT/GST payments
- Leave and other provisions
- Prepayments
Common examples for exclusion:
Most balance sheet accounts can be excluded; an important exception is asset additions, which account for capital goods purchased during the year.
Pre-Recognized Exclusions: The system automatically recognizes several GL 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, allowing you to start the Carbon Bookkeeping process.
- Jobs to be done: Reconcile transactions to exclude for those that are not applicable for carbon accounting
- Summary: This video will show you how to reconcile transactions as excluded through the import confirmation screen as well and within the Carbon Ledger.
Last updated on September 4, 2024