You can create an entity from transaction-level data, allowing you to view your financial reports and drill down into the underlying transactions.
A transaction list import on Syft consists of creating a transaction list import entity and uploading your transaction list to that entity. When uploading a transaction list, Syft will generate a template for you to populate with your data, making the uploading easier.
If you were navigated to this guide after adding your entity, then your entity has been created on Syft. This means it is time to move to Spreadsheet Link in either Excel or Google Sheets. Navigate to the Spreadsheet Link upload section in this article and follow the steps provided.
How to add a transaction list entity
To get started with your import, follow the steps below:
Click “Add entity”
You will be redirected to the add entity setup page, where you will select “Transaction List Import”
Syft will take you to the new entity setup page where you will fill in a name for your entity, the country, base currency, accounting basis and the financial year-end
Click “Next"
Your transaction list entity has now been setup on Syft! After this, you can upload your transaction list to the entity using Spreadsheet Link on Excel or Google Sheets.
Spreadsheet Link upload
Spreadsheet Link on Excel or Google Sheets will be used to upload your transaction list to Syft. Spreadsheet Link allows you to upload your transaction list directly from Excel or Google Sheets without having to download and manually upload the file. Get Spreadsheet Link:
For Excel: Download from Microsoft app store
For Google Sheets: Download from the Google app store
Create a transaction list template
Within Excel or Google Sheets, click on the Syft top tab or extension and follow these steps:
Click on "My Account"
Click "Upload data to Syft"
Click "Transaction List"
Select your newly created transaction list entity
Click "Upload Accounts" which is your Chart of Accounts
Choose the sheet you would like the template to generate in
Click "Generate Template"
Do your Chart of Accounts mapping (to tell Syft how it should treat each of these accounts in terms of classification and sub-classification) and populate your chosen sheet with your transaction list data. The "Classification" and "Account Example" sheets include helpful information to help you with populating your sheet.
📓 Note
Use the provided drop downs and refer to the "Classifications" sheet for the permitted classification and sub-classification pairings. You will see that there is an example for you to reference.
Upload to Syft
Next, you can do the following:
Return to the Transaction List Uploads page in the Spreadsheet Link side menu
Select "Upload Transactions"
Specify the entity and sheet
Select a template population option (which transaction data will be present in the template)
The population options include:
All time: all transactions you have for the selected entity on Syft
Custom date range: all transactions within a specific date range
Specific upload: previous upload you have made
None: a blank upload
Select how the template should populate (creating new transactions based off existing ones or modifying existing transactions)
Replicate as template: this means if you were to upload this template, it would upload the transactions in the template as new transactions
Modify existing transactions: this would pull through existing transactions with IDs, which means that any changes that are uploaded will apply to the existing transactions that are already on Syft
Once you have populated your sheet, click "Validate". This will indicate any errors in your data and you can jump straight to the errors by clicking on the pencil icon next to the error.
Once your upload has been successfully validated and you are sure you are uploading data for the correct entity, click "Upload".
Transaction Builder
With the Transaction Builder, you can add a single line to your transaction list by selecting all the details of the transaction, as well as an optional contra account and clicking "Insert".
Alternatively, you can add transactions in the sheet manually using the drop-downs. However, you don't have the same search functionality when adding transactions manually.
Upload History
Your Upload history shows uploads you've made previously. Here, you can change the name of the upload or download previous transaction lists.