Import confirmation screen
Decide which accounts to import as monthly or as excluded
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.
Hint: As part of the confirmation process users have the ability to determine how transactions within the import are treated in each of the general ledger accounts. Users have the ability to choose if either of the following actions should be applied across each of the general ledger accounts:
- Import Monthly Totals Only - Users have the choice if transactions are consolidated to a monthly total amount or if they should be imported as each of the individual transactions separately. Importing monthly totals will reduce the amount of transactions that need to be coded in the Carbon Ledger, however this approach generally results in less detailed data being available on that ledger account. Where transactions are routine, repetitive and high volume (bank fees as an example) this approach can be applied successfully.
- Reconcile as Excluded - Some transaction in a business’ accounting file are not relevant for carbon accounting purposes and as a result need to be excluded. General ledger accounts such as salaries, GST and balance sheet accounts like accounts receivables will be excluded from the GHG Inventory consistently. In order to save time, transactions in these accounts can be marked as excluded and those amounts will automatically be coded through to excluded in the reconciled transactions screen. Some common examples are:
- Income and revenue
- Salaries and Wages
- Superannuation/Pension payments
- VAT/GST payments
- Leave and other provisions
- Prepayments
Most balance sheet accounts can be excluded - an important one to note are asset additions to account for capital goods purchased during the year.
- By default there are several GL accounts that the system recognises as generally excluded. These include depreciation and accumulated depreciation. The system recognises these GL accounts on import and makes the suggestion that these should be included as totals and then excluded. This saves users time on import and streamlines the coding process in the carbon ledger. Often through these actions users experience that between 20-40% of their transactions have already been reconciled on import.
- Once the import confirmation is complete transactions will be imported from Xero and transactions will automatically be pulled through into the Carbon Ledger for you to start on the Carbon Bookkeeping process.
- Feature Name: Excluding transactions
- Product Location: Data Entry
- 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