What are the Pros and Cons of Using the Import Templates?

Below are some of the pros and cons of using the import templates. They may help you determine when it's appropriate to use the import tool rather than make entries manually.

In general, for individual entries, we recommend using the manual entry process. However, if you are just setting up your account and have a lot of entries to make (~10 or more companies) or are part of an Enterprise account and need to enter multiple transactions across a variety of investors, then we typically suggest that you use the import template. Based on these pros and cons, you can decide which approach might work best for you.

Pros

  • Save time! Once you learn how to properly use the imports, they will save you time since it is much quicker than making multiple manual entries.
  • Ensure accuracy by copying and pasting data in bulk directly from another program, such as Excel or CSV. And if manually entering data into the template, ensure accuracy by using Excel tools and calculations prior to importing.
  • Quickly and easily duplicate data using Excel tools and key strokes. This is especially helpful for Enterprise accounts when adding multiple transactions.
  • If you make a mistake, you can un-import the data and try again.

Cons

  • Must be detail-oriented and willing to read and follow instructions to be sure your data is entered correctly.
  • Prior knowledge of Excel is helpful.

Learn how to import multiple investments.

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