Importing data (generic excel spreadsheet into v2)

Hi

Given the beta status at the moment, I have postoponed any design work streams until the final version is out and am focusing on content only.

I’m currently putting together the content / listings in Excel and would need to know how I would have to format the spreadsheet so that the file can be imported later. In v1 I have, in addition to the general listing data (name, address, etc), c. 40 custom fields for each listing..

I presume the best way would be
(1) create all these custom fields in the beta to give GD a template structure,
(2) export the data to a csv (?) file which will have the above template structure by way of headings
(3) copy and paste all the content from the existing xlsx spreadsheet into the csv file and arrange data to respective columns

Would that be a possible and the best approach?

Thanks
David