Knowledge Base Getting Started Frequently Asked Questions

How to edit and remove bank transaction explanations

This article explains how to edit and remove bank transaction explanations in FreeAgent.

How to edit an explanation for a single bank transaction

Navigate to the ‘Banking’ section and select the relevant bank account. Next, navigate to the ‘All Transactions’ tab and then choose the month in which the transaction took place from the drop-down menu. You'll see that the transaction is formatted in green and marked with a tick to show that it has been explained.

Select the name of the transaction and it will expand. Edit the relevant information and select ‘Save Changes’.

bank_trans_1.png

How to remove an explanation for a single bank transaction

Navigate to the ‘Banking’ section and select the relevant bank account. Next, navigate to the ‘All Transactions’ tab and then choose the month in which the transaction took place from the drop-down menu. You'll see that the transaction is formatted in green and labelled with a tick to show that it has been explained. You have two options for removing the explanation.

Option 1: remove an explanation via the ‘Edit an explanation’ view

Select the name of the transaction and then 'More Options’ to access the 'Edit an Explanation' view.

Next, select ‘Remove this Explanation’ in the top-right corner.

bank_trans_2.png

A pop-up message will appear to ask you if you're sure that you want to remove the explanation. Select ‘Yes’.

The transaction will now be formatted in red and labelled with a question mark to show that it’s unexplained.

bank_trans_3_1.png

Option 2: remove an explanation via the bank account view

Tick the check box next to the explanation that you’d like to remove. Next, select ‘Remove 1 explanation’ from the ‘Remove explanations panel’ panel on the right-hand side.

bank_trans_4_1.png

A pop-up message will appear to ask if you’re sure that you want to remove the explanation. Select ‘Yes, remove the explanation’.

The transaction will now be formatted in red and labelled with a question mark to show that it’s unexplained.

bank_trans_5_1.png

You will also have the option to delete the selected transactions. Please note that once a transaction has been deleted, it cannot be recovered. This includes any associated attachments, such as receipts.

To delete the transactions, select ‘Delete X transactions’ from the ‘Delete transactions’ panel on the right-hand side.

bank_trans_6_1.png

How to edit multiple transaction explanations

Navigate to the ‘Banking’ section and select the relevant bank account. Next, select ‘All Transactions’ and then the month when the transactions took place from the drop-down menu.

If you need to change multiple transactions, select the tick boxes to the left of the relevant transactions. Next, edit the transaction explanations in the panel on the right-hand side and select ‘Explain X transactions’.

bank_trans_7_1.png

Please note, you can edit multiple ‘money in’ explanations or multiple ‘money out’ explanations at the same time, but you can’t edit a combination of the two. If you don't see the option you're looking for, you'll need to edit each transaction individually as outlined above.

How to remove multiple explanations

Navigate to the ‘Banking’ section and select the relevant bank account. Next, select ‘All Transactions’ and then the month when the transactions took place from the drop-down menu.

Select the tick boxes next to the explanations you’d like to remove. Next, select ‘Remove X explanations’ in the ‘Remove explanations panel’ panel on the right-hand side.

Please note, you can remove multiple ‘money in’ explanations or multiple ‘money out’ explanations at the same time, but you can’t remove a combination of the two.

bank_trans_8_1.png

A pop-up will appear to ask if you’re sure you want to remove the explanations. Select ‘Yes, remove the explanations’.

bank_trans_9_1.png

You will also have the option to delete the selected transactions. Please note, once a transaction has been deleted, it cannot be recovered. This includes any associated attachments, such as receipts.

To delete the transactions, select ‘Delete X transactions’ in the bottom-right corner.

bank_trans_10_1.png

If your business is VAT-registered and you change or delete any transactions that appear on a VAT return that you’ve either filed or marked as filed, the VAT return will be locked and FreeAgent won’t apply any changes to it. Instead, the effect of editing or deleting these transactions will be deferred to your next open VAT return.

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