Once you’ve linked your bank with Fyle, you can create expenses for transactions belonging to any of your linked accounts. This helps you claim reimbursement for any business expense made from your personal accounts or credit cards.
(Please refer here to learn how to link your bank with Fyle)
Follow these steps to create Expenses in Fyle for transactions made from your personal account.
- Select the Personal Cards tab on the navigation bar displayed on the left side pane. Now, select the account in which the business expense was made. (Note that your credit card is also considered as an account which is of type Credit).
- When you select an account, you will see all the transactions made from that account under the Personal section. A transaction is moved from the Personal section to the Fyled section after you have created an Expense for that transaction.
(If you do not see all the transactions inside a particular account, please click on the Sync Now button. This will fetch all the transactions from the last 60 days.)
- Now, click on a transaction for which you want to add an Expense in Fyle. Next, click on ‘Add Expense Manually’.
- The Expense form will open up with the amount and date pre-filled. Ensure to fill all the other mandatory fields in the form before clicking on Save. After saving, the expense can be tracked from Fyle like any other expense.
- If you’ve already created an Expense inside Fyle earlier, then when you select a transaction from one of your personal accounts, we will look for possible matches for that transaction among expenses that are already created. We predict possible matches (on the right-side pane) based on the date and amount of the selected transaction.
- If any of the possible matches on the right-side pane corresponds to the selected transaction, then kindly select that expense and click on the Match button. This will match the transaction to its corresponding expense and ensure that you Never Lose Track!