Creating Spend Data

This article describes the process for creating Spend Data both via the User Interface and via Bulk Import.

Safeguard Compliance

Estimated Read Time: 4 Minutes

Introduction

Capturing spend data against vendors and contracts is essential for any organization looking to manage its expenses effectively. This data helps organizations gain a better understanding of how much they are spending on goods and services, whom they are spending it with, and whether they are getting the best value for their money. 

In this article:

💡Did you know that you can create Custom Data Fields against Spend records? Please, see our article on Configuring Custom Data Fields to find out how!

Create Spend Data via the User Interface

To create Spend against your Vendor records:

  1. Select your Vendor repository from the left-hand navigation menu
  2. Select the Vendor that you wish to apply spend to 
  3. Select the green Add button > Spend
  4. Populate the fields according to your requirements, then select âœ…Save

Spend Field Descriptions

Field Description
*Date The date that the spend occurred on
*Currency The currency the spend value is in
*Amount The value of the spend
*Vendor If you are adding via the UI, you will not need to select the Vendor from a list, however, if you are importing data, be sure to enter the Vendor
Contract If you also wish to associate this spend with a contract, select the contract from the dropdown list (the contract must be allocated to the vendor)
**Indirect Vendor If you would like to capture spend against any indirect vendors, select the vendor from the list
External ID If you would like to match the spend item with an ID from an external system, you can do so here
Account Code The account code of the spend item
Description A description of the spend item

*denotes mandatory fields

**An example of an Indirect Vendor

If you were to buy an Apple Mac from your local computer store, the local computer store would be the direct vendor, and Apple would be the indirect vendor.

Bulk Importing Spend Data

To bulk import Spend Data:

  1. Select your Vendor repository from the left-hand navigation menu
  2. Select the green Add button > Import Spend
  3. Read through the Spend Import Instructions & expand the Field by Field Import Rules
  4. Download the Spend Import Template by selecting Download Template
  5. Populate the template with your Spend Data (ensuring that you follow the Field by Field Import Rules )
  6. When happy with your Import Sheet, return to the Spend Bulk Import screen by repeating Steps 1 and 2 above
  7. Select Choose File and locate your completed sheet
  8. When ready to proceed, select ✅Upload
  9. If your import has any errors, you will be notified now to rectify these errors in your work sheet, before returning to reattempt the import
  10. If no errors are present, select ✅Import Data