annotate transactions

Annotating transactions on the FairFX Expense Platform

Keep track of staff spending by annotating cardholder transactions in the FairFX Expense Platform and get even more transparency over your staff expenses.

Annotate all of your transactions to see exactly how much staff spend, where staff use their cards, and build powerful reports.

Even better, save time by getting your cardholders to annotate their own transactions on a regular basis.

How annotations work

1. Annotating your transactions is a simple process. Once you’re logged into the FairFX Expense Platform click ‘Annotate transaction’ under the ‘Reports’ menu. You’ll then see a list of cardholder transactions for the current calendar month. Use the drop-down menus at the top to filter based on date range, name, card status, etc.

Annotate a transaction by selecting the relevant client code and transaction type from the corresponding drop-down menus. If you need to add any additional notes, use the freeform type field.
Once you’ve annotated all of your transactions, click the ‘Annotate’ button at the bottom left of the page to save your changes.

Cardholders can annotate their own transactions by heading to the same section of the platform using their own login details – they can only see their own card transactions.

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2. Once you’ve annotated your transactions, you can use the platform to review where individuals and your team as a whole are spending the majority of expenses.

Go to the ‘Transactions’ page under ‘Reports’ to view and filter your transactions based on the expenses type, client code, and various cardholder details.

You can also export your annotated transaction data by clicking the ‘CSV’ button at the top of the page. Exporting your transaction data allows you to produce regular reports on your company’s expenses and means that you can take a deeper dive into the data and check for any spending that seems unusually high.

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3. To make sure that all of your annotations provide accurate information you can add, edit, and remove clients and categories in the ‘Reports’ section under the ‘Business setup’ menu of the platform.

Create new categories and client codes by clicking ‘Add new’ in the top right corner of the page. You can also edit the name, add a description or deactivate an existing entry by selecting the category/client code name.

It’s important to use clear naming when creating your new categories so that your employees can accurately annotate your transactions, and so that you can get a clear understanding of where your money is being spent.

 

Download our platform userguide for tips on how to annotate transactions and how to get the most out of the platform.
Download our platform guide

 

Businesses working with FairFX can take the hassle out of expenses and focus on the things that matter most. Find out more about how we can help your business by clicking the link below.

If you are already a FairFX Business customer, find out more about annotating transactions by contacting your account manager.
FairFX Business

 

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Miles Hobson

Miles Hobson

Miles oversees marketing communications at FairFX. He has a passion for travel and loves to explore new cities on foot to find their hidden gems.

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