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Importing your transactions

Last Updated: Jun 23, 2014 02:23PM PDT
After you have connected your financial institution account to your WorkingPoint bank account, you can import transactions from your bank directly into WorkingPoint to save time and cut down on common data entry errors.

WorkingPoint supports two options for import: regular and auto-sync. Our regular import is super easy: download the transactions and check which ones you want to import. Simple, right? It's a great option if you want to review or edit things before they become part of your WorkingPoint records.

Want to skip even that simple process? Enable Auto-sync and WorkingPoint will download and import transactions for you while you sleep. Wake up and your WorkingPoint account records are updated with your latest financial institution transactions.

To download financial institution transactions:

  1. Go to Accounts.
  2. Click Manage Your Financial Institutions in the right hand sidebar.
  3. Locate the account you want to download transactions from and click the View link in the far right column.

    Your Financial Institution Account page will display. On the right-hand sidebar, you will see the Account Details widget (like below) and the Auto Sync widget. After you download transactions the first time, the page will also display your transactions in the main body area.
  4. Click Download New Transactions to see the list of transactions available to import. 
    WorkingPoint will display all of the transactions available to import. If this is your first import, we'll bring over transactions from as far back as we can (typically 90 days or so). Going forward, each time you import we'll show you all of the new transactions dating back to your last import. 

    A Note on Downloaded Transactions
    Transactions are pre-categorized by your financial institution according to vendor and transaction type. WorkingPoint will match the category to the default bookkeeping accounts in your Accounts List. If the account does not exist in WorkingPoint, it will be created for you on import. The Schedule C category will also be assigned to the bookkeeping account, when possible. We recommend that you review each downloaded transaction prior to import to verify the accounts and Schedule C categories and identify any transactions you may want to edit after they are imported.

Importing Transactions
You have a few options for importing transactions: use the import checkboxes on the download list to import transactions as displayed on the Download List; click the description link to customize the transaction before importing; match the transaction to activity already in your WorkingPoint account; or enable Auto-Sync and WorkingPoint will download and import all the transactions for you. Continue reading for more on each of these cool features.

Importing using the Download List Checkboxes
To import a transaction using the checkboxes on the download list:
  1. Click the checkbox to the right of each transaction you wish to import or click the Import checkbox at the top of the list to import all of the transactions viewable on the page. Navigate to the next page to import the transactions viewable on that page. 
  2. Click Import Transactions.
  3. Once the transactions have been imported, the checkbox field will read "Imported" 

Importing Customized Transactions
If the pre-selected category doesn't quite work for you, you can change it prior to importing it into your account. Likewise, you can change the date of a transaction: this is helpful if you actually made the purchase in one reporting period, say March 31, but it didn't clear your bank until April 3, you can change the date of the transaction prior to importing so it shows up on your March reports, not April's.

To customize a transaction and import it:
  1. From the download list, click the link in the Description column. This will take you to the Financial Institution Transaction details page. 
  2. Under Import Transactions, a form will display with the editable details of the transaction. You can change the date of the transaction, the import to account - which is the financial institution account, the bookkeeping account  - which is the how you want to categorize the transaction, and the amount. 

    If you would like to spread your transaction over multiple categories (aka bookkeeping accounts), you can divvy-up the total of the transaction and import specific amounts to as many categories as you like, up to the max amount of the transaction. For example, say the transaction below for 64.09 includes 24.00 in telephone expenses and 40.09 in internet charges. I could select the telephone account under Record in Bookkeeping Account and then change the amount to 24.00 and click Import Transaction. The transaction is now partially imported. If I left now and came back later, I would see on the download list that I still have a balance on this transaction that I need to import. Then I could choose the Internet Services account as the Record in Bookkeeping Account and click Import Transaction to import the balance of the transaction to the last account. 
  3. Once the transaction is how you like it, click Import Transaction.
Matching Transactions
If the transaction is already in your WorkingPoint account, you can match the activity downloaded from your financial institution to the transaction already in WorkingPoint. 

To match a transaction to activity already in your WorkingPoint account:
  1. Click the link in the Description column. This will take you to the Financial Institution Transaction detail page. 
  2. Under Matching Transactions, all possible matches will be displayed.
  3. Click Match next to the transaction that matches what you are importing.
    The transaction in your Download List will be linked to the matched transaction and the transaction on the Download List will be updated as matched. Also, your transaction will also automatically be marked as reconciled.

    If a payment or deposit matches the amount of a bill or invoice, the bill and invoice will be listed as possible matches. Clicking match will apply the payment to the bill or invoice and mark the transaction reconciled.

    NOTE: You can unmatch a transaction by clicking Unmatch. The Matched label on the Download List will be removed. 

Importing Transactions with Auto-Sync
When enabling Auto-Sync, ALL transactions will be imported automatically for you. If you are setting up your connections for the first time, you may have transactions in your download list that are already in your account. You can use the matching feature to match those transactions to transactions already in your account or you can disable the transactions you don't want imported so that they will not be imported automatically with Auto-sync.

Auto-sync does not match to existing activity. If you enter a lot of transactions manually, including invoice and bill payments, we recommend using the download then import process: this way, you can review and import only the transactions you do not have already entered in your account. 
  • Click Enable Auto-Sync below the Account details widget, and each night, your transactions will be downloaded and imported for you while you sleep.
  • Click Disable Auto-Sync to stop the automatic download and import of transactions.

To disable importing of a specific transaction:
  1. From the download list, click the Description link for the transaction you want to disable.
  2. In the right hand sidebar, click Disable Importing

    The transaction will be marked Disabled and will not automatically import with Auto-sync.

To edit transactions imported via Auto-Sync:
  1. Go to the bookkeeping account to view all your imported activity.
  2. Hover over the transaction and click Edit to make and save changes.

Tip: Click the Bookkeeping Account link in Account Details to quickly view the imported transactions in your WorkingPoint bookkeeping account.

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