How to Import and Reconcile Financial Data

This guide covers the complete process of importing financial data from ERP systems and reconciling it with planned payments in Mastt. Use this workflow monthly to maintain accurate project cost tracking.

Before you start:

• Export financial data from your ERP system in CSV, XLS, or XLSX format
• Ensure data includes PO numbers, WBS codes, and detailed descriptions for best matching results
• Access the Actuals module with import permissions

Import financial data

1. Navigate to Cost from your project dashboard
2. Click Actuals from the top navigation
3. Click the Import Spreadsheet button (top left corner or centre if no data exists)
4. Select your financial data export file from SAP or similar ERP system
5. Click Import

Result: The system processes your data and displays a confirmation showing how many actuals were imported and any duplicates flagged.

Review automatic matches

1. Check the Reconcile view where items with suggested matches are highlighted
2. Review suggested matches based on PO numbers, amounts, and WBS codes
3. Click on any item with a suggested match to open the detail form

Reconcile matched items

1. Review the suggested match details in the reconciliation form
2. Verify the corresponding contract and payment information
3. Click the matching contract to select it
4. Click Link to confirm the match

Handle unmatched items

1. For items without automatic matches, either:
   • Manually search for appropriate matches, or
   • Mark items for investigation
2. Add notes explaining what investigation is needed (e.g., "verify PO number with procurement team")
3. Place items in the investigation bucket until properly reconciled

Process duplicates

1. Navigate to the Needs Attention view
2. Review quarantined duplicate items
3. Either:
   • Click Unquarantine if incorrectly flagged, or
   • Resolve confirmed duplicates

Use bulk reconciliation

1. Go to the Register view for bulk actions
2. Select multiple related line items using checkboxes
3. Click Bulk Reconcile
4. Match all selected items to the same contract or payment simultaneously

Verify reconciliation

1. Return to the Reconcile view to confirm all items are properly matched
2. Review any remaining unmatched items for next steps

Troubleshooting

• Problem: Automatic matches aren't suggested  Solution: Check that PO numbers and amounts match exactly between systems
• Problem: Import files aren't recognised Solution: Ensure proper export format from your ERP system with required data fields

The Actuals Module streamlines financial reconciliation whilst providing real-time project visibility. Regular monthly imports with attention to data quality will significantly improve your financial tracking accuracy.