Recently, we introduced the much-awaited feature called Transaction Feeds on Moorr. This allowed our user to download their transactions with their banks through a CSV file and upload it to the platform, making managing their household finances easier and more accurate.
These are some of the Key Benefits of this feature below:
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Track & Compare – Sort, manage, and report on all your financial transactions in one place. You can compare your planned (budgeted) spending against actual results.
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Budget vs Actual Insights – See how your real spending compares to your planned budget at the card level.
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MoneySMARTS Integration – Existing MoneySMARTS users can migrate provision data and avoid duplicates with smart import filters.
Recently though, we had a case where a user uploaded a CSV file on the platform that’s coming from his bank, Amex. This unfortunately, put all the details of transactions backwards, i.e. Money out = Money in, which not only messed up the figures but also caused problems with matching payments. We found out that Amex always produces its CSV files with amounts in reverse order. For example, expenses will show up in the CSV file directly recorded as positive values, whereas income would show up as negative values. This inverse treatment is sometimes the case when it comes to how banks represent their statements from their own accounting perspective, rather than the consumer.
For now, the quickest remedy for this would be as follows:
- Bulk delete the existing transactions under the AMEX Card directly (by navigating to the Financial Card’s Transaction tab and deleting them from there).
- In your CSV file, add a column next to ‘amount’ and for the first transaction line, do a formula for =-D2 as an example, referencing the existing Amount column.
- Copy the formula down the list so you now have the inverse value for each transaction.
- Copy the entire new column for amount and ‘Paste Values’ over the previous column (you can select the new column, ‘Copy’ then highly column D and press ‘Ctrl +shift+ V’ to paste values.
- Delete Column E and re-save the file.
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Reimport the file. If you’ve already got rules set up, it should move things in automatically quite nicely.
This is just a temporary solution for now but we’ll surely get a long-term fix for this along the way.
