As an administrator on Fyle, you can upload a .csv or an excel format of your organization's corporate card statements. Uploading a statement directly imports all the cards and transactions associated with each card onto Fyle.
Before you proceed to upload a statement to import corporate card transactions, it is required to have the below details on the statement to ensure successful upload:
Bank/Card Name - Enter your bank name from which you're uploading the statement here, like Bank of America.
Card Network - Select the card network of your corporate card. Your banks would have provided you with VISA, MasterCard, American Express or another card network.
Statement Period - This field represents the period of the statement provided by the bank. Usually, the statement period is one month long, and it may not match up with the calendar month. Please select the Statement Period (From date & To date).
Amount: This field represents the transaction amount.
Sign of the Debit Amount: In this field, you are expected to mention whether your statement's debit amount is denoted with a positive (+ve) sign or not.
If you select Yes, all the debit transactions will be represented with a positive sign and credit transactions with a negative(-ve) sign. Read more about the sign convention here.
Transaction Date: This field represents the transaction date, i.e., the date of spend.
Merchant: This field represents merchant information of the transaction.
Card Number: This field represents the specific card number.
Description: This field represents the description of the transaction.
Transaction ID: This field represents the unique ID for each transaction.
Post Date: It is the date on which funds are taken or added to an account, and it may or may not match up with the Transaction Date.
While Fyle manages to map the fields on the statement with the fields present on Fyle automatically, you can change the field mappings in case of discrepancies or mismatches.
Follow the steps below to upload the statement onto Fyle:
On the Organisation mode, you can upload the statement from two places:
Drag and attach the CSV or xlsx file from your device or click on the
+icon to browse the statement file from your device.
Proceed to select a statement from your device and upload it onto Fyle.
In the next step, you can select a Saved Mapping, if any. If not, Fyle automatically takes care of the mapping. Ensure all the fields present on the Statement are perfectly mapped with the system fields present on Fyle.
Please verify the Bank/Card Name, enter the name in the field, and select the Statement Period (From date & To date of that statement).
While you change any mapping (like Transaction Date, etc.,) you can see the preview section present on the right side of the screen to verify how the transactions will flow into Fyle.
Review the fields and click on Import Statement to import the statement and all transactions into Fyle.
If your statement has cards/transactions that are not assigned, you can assign the cards to your employees after the statement is uploaded, as shown here.
Saving a Mapping
If you're enrolled with a bank, the mappings of all columns from your statement can be the same every time. If you wish to save that mapping which can make your job easier next time, please enable "Save above mappings for later use."
You can name the mapping as per the bank program name (or) statement configuration.
Avoiding duplicate statements & transactions
While you upload the statements, there might be cases where the same statement or the transactions can be uploaded twice. Don't worry. We have got you covered.
Fyle intelligently identifies the duplicates to the transaction level and allows you to import only the new transactions without uploading the duplicate transactions. Here is what Fyle can do in case of duplicates.
Soon after attaching the statement file, if Fyle identifies a similar statement on the system, it shows you the statement details (Name, Date of upload and size of the file) along with the number of transactions. You can choose to:
Cancel: Clicking this will cancel the statement upload.
Proceed Anyway: Clicking this will upload the statement and import the transactions on Fyle.
While uploading a statement, if Fyle identifies a set of transactions from a previous statement(s) on the system, it shows you the statement details (Name, Date of upload and size of the file) and the number of duplicates. You can choose to:
Upload without duplicates: Clicking this will ensure only the new transactions are imported to Fyle, and the duplicate transactions aren't imported.
Upload All: Clicking this will upload the statement and import all transactions on Fyle, including the duplicates.
Note: If your organization has saved bank parsers (already mapped fields for the bank), you can directly import statements to Fyle by attaching the statement file from your device.
Feel free to contact our support team at [email protected] for further information or issues with uploading the statement.