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How to Import Actuals and Reconcile Financial Data from ERP Systems

Step by step guide for uploading Actuals from your ERP system to Mastt

 

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
  • Make sure you can access the 'Actuals' module with import permissions. Contact Mastt Support if unavailable.

What are Actuals?

Actuals are the real, recorded expenditures that have occurred on a project to date. These figures represent the money that has actually been spent — not what was budgeted or forecasted.

In most organisations, actuals are sourced from financial systems such as accounting software or ERP platforms. They are typically provided by your finance team, such as a Financial Controller, Project Accountant, or Accounts Payable function.

Uploading accurate actuals into Mastt ensures your project cost tracking is up to date, aligns with internal reporting, and supports effective financial decision-making.

Understanding ERP system compatibility

Mastt supports spreadsheet uploads for Actuals. However, spreadsheets from most ERP systems will need slight column heading modification before upload. Future versions will offer more automated solutions for seamless integration.

How to upload Actuals for a Project

Step 1: Prepare your ERP export file

  1. Export your financial data from your ERP system. It should be a spreadsheet.
  2. Modify column headings to match Mastt's requirements exactly (see below).

Example:

In the column of your spreadsheet where the dollar amount of each transaction is listed, change this column heading to be 'Val/COArea Crcy'

Minimum required headings:

Mastt Required Column Name What this field contains
Val/COArea Crcy The dollar amount of each transaction line item
Posting Date The date the transaction occurred (appears in cash flow module after reconciliation)

Recommended headings for automatic matching:

Purchase order text Name field for the purchasing document or transaction
Purchasing Document Number for the purchasing document unique to the vendor, agreement, or contract (e.g., PO number entered in Mastt contract form)
WBS element Unique code for each project that helps link transactions to projects when uploaded at program level
Cost Element Description of the service (e.g., project management, travel) - optional but helpful for categorisation

Step 2: Import data to Mastt

  1. Navigate to Cost from your project dashboard
  2. Click Actuals from the top navigation
  3. Click the Import Modified 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.

Step 3: Review automatic matches

Mastt will automatically associate Actuals transactions with existing payments and contracts in the system on the reconciliation screen.

  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

Step 4: Reconcile remaining 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

Step 5: 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

Step 6: Verify reconciliation status

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

Using bulk reconciliation for efficiency

  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

For uploading actuals across multiple projects simultaneously, see: How to Upload Actuals for Multiple Projects Using WBS Codes

 

Troubleshooting & FAQ

Q: What if i have Incorrect suggested matches?

If automatic matches aren't suggested, check that the correct file has been uploaded or double check that unique numbering can be found on transactions and contracts.

Q: What if my import files aren't recognised?

If the system doesn't accept your file, return to Step 1 and ensure column header is properly modified

Q: What if i have duplicates?

If duplicate items appear in import, Navigate to Needs Attention view, review quarantined items, then either click Unquarantine if incorrectly flagged or resolve confirmed duplicates
 

Pro tips

  • Perform monthly imports with attention to data quality for optimal financial tracking accuracy
  • Use consistent naming conventions in your ERP exports to improve automatic matching
  • Regular reconciliation prevents project cost discrepancies from accumulating

Measuring success

Look for reduced unmatched items over time and improved automatic matching rates to confirm your process is optimising.