Feature Focus: Importing Bills or Transactions?

Posted 28 January by Barb Easter in Case Studies, Cash Flow, Feature Focus, Tools and Resources

How to predict, manage and model your credit card bills AND transactions with Dryrun.

Feature Basics

Dryrun’s import settings pulls in expenses from the accounts you select – this data could be entered manually in Sage Intacct, Xero or Quickbooks Online, or could consist of reconciled bank feed data – either of which is then imported to Dryrun’s recurrings section.

User mindset

  • “What is most efficient?”
  • “What is most impactful to show my team?”
  • “How do I avoid duplication of data and my efforts while modeling in Dryrun?”

Sometimes we receive questions like this one:

Hi Barb, I’m concerned that Dryrun can’t distinguish between bills being paid and credit cards expenses vs credit card payments so manual adjs are required. If I pull in  pull in supplier bills as part of the expense part for forecasting and also pull in credit card transactions, it doesn’t distinguish between credit card expenses (receipts/charges) vs payments on bills – so potential for duplication and you would want to adjust out the bill payments via credit card to avoid duplicate forecasting on bills entered. How are your other users managing this issue?

Dryrun Partner

Short answer, nope.

New Users

When users start in the Dryrun platform they often import credit card as a bill to the Bills section of Dryrun.

Success Criteria

There’s a trend in user time-in-platform that experienced users tend to bring credit card bills into the first scenario and use a second blank scenario to track itemized transactions.

Use Case

Company credit card balance is approximately ~$2500.00 per month. Client makes payments at least once a month; sometimes partial and sometimes in full. There are some options for the bookkeeping.

  1. Wait till the payment hits the bank feed each month, and then I produce the transaction in the books.
  2. Set up an expense in my accounting software and make it reoccurring. It will show up in the recurring section.
  3. Enter the credit card bill as a bill every month and match it via the bank feed.

Confusion might occur if:
The bookkeeper sets up both a recurring expense in the accounting platform for the credit card and then adds a bill for the card again each month. However, this would be discovered quickly as no payment would be associated and it would be caught in reconciliations.

If the client needs to see the the credit card total bill as posted each month:

  • Allow Dryrun to import the credit card bill and place it in the Bills section (autoforecast optional), or
  • Manually enter the approximate value of the bill in Dryrun, use placeholder or auto forecast

If the client needs to see the the credit card transactions as posted each month:
In the import menu, toggle the credit card account ‘on’ under ‘recurring’.

Credit card expenses will automatically import to the recurring section of the Dryrun scenario in question.

**Note – choosing both of these options in the same scenario will result in duplicate information just as it would by bringing in both types of information to the accounting platform or to a spreadsheet.

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