As an administrator on Fyle, one way of importing the card transactions on Fyle is by uploading the corporate card statements issued by your bank or card provider. As each statement contains numerous transactions which are imported to Fyle, it is absolutely crucial to have the right mapping fields from your statement to Fyle to import transactions correctly.
Throughout this article, we will cover the representation of the debit and credit amount on your bank statement and in your organization.
Sign of the debit amount
While uploading the statement on Fyle, you need to mention if the debit amount in your statement is denoted with a negative (-ve) sign or not.
NOTE: The debit amount is indicated with DR and the credit amounts with CR on Fyle.
If you select No, all the debit transactions will be represented with a positive sign, and the credit transactions with a negative(-ve) sign on Fyle
$67.00 or $67.00 DR for the debit amount, -$67.00 or $67.00 CR for the credit amount.
If you select Yes, all the debit transactions will be represented with a negative (-ve) sign, and the credit transactions with a positive sign on Fyle.
-$35.09 or $35.09 DR for the debit amount, $35.09 or $35.09 CR for the credit amount.
This covers the sign of debit and credit transactions.
To learn more about how to upload a statement, click here.