Delete a bank transaction

This article explains how to delete bank transactions from FreeAgent.

Once a bank transaction has been deleted it cannot be recovered and deleting a bank transaction in FreeAgent may result in a balance mismatch alert as part of the 'Balance at bank' feature.

Deleting a bank transaction that has been explained as an ‘Invoice Receipt’ may also result in reminder emails being sent to your customer if the invoice isn’t marked as paid with the correct bank transaction.

You’ll need level 6 access or above to your FreeAgent account to delete bank transactions.

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

To make changes to a bank transaction explanation, find out how to edit a bank transaction explanation.

Navigate to the relevant bank transaction

Navigate to the 'Banking' tab at the top of the screen and select 'Bank Accounts' from the drop-down menu.

Choose the relevant bank account from the list.

You can either delete a single bank transaction or multiple bank transactions in bulk.

How to delete a single bank transaction

Imported transaction

If the transaction has been imported into FreeAgent via a bank feed or uploaded via a bank statement and has been explained, tick the checkbox to the left of the transaction that you’d like to delete.

Select ‘Remove 1 explanation’ from the ‘Remove explanations’ panel on the right-hand side.

Select ‘Yes, remove the explanation’ in the pop-up window.

If there is a file attached to the bank transaction that was automatically matched to the transaction by FreeAgent, it will automatically be moved to the ‘Smart Capture’ tab in your Files area. If the attachment wasn’t captured using Smart Capture, you’ll have the option to either permanently delete the attachment or move it to the ‘General files’ tab of your Files area manually. Choose the relevant option from the pop-up window.

Once the explanation has been removed, select ‘Delete 1 transaction’ from the ‘Delete transactions’ panel on the right-hand side.

Select ‘Yes, delete the transaction’ in the pop-up window to complete the process.

Manually entered bank transaction

If the bank transaction was entered manually, tick the checkbox to the left of the transaction that you’d like to delete.

Select ‘Delete 1 transaction’ from the ‘Delete transactions’ panel on the right-hand side.

Select ‘Yes, delete the transaction’ in the pop-up window to complete the process.

If there is a file attached to the manual bank transaction, you will have the option to either permanently delete the attachment or move it to the ‘General files’ tab of your Files area. Choose the relevant option from the pop-up window.

A record of the transaction being deleted will appear in your Audit Trail report.

How to delete multiple bank transactions

Imported transactions

If the transactions have been imported into FreeAgent via a bank feed or uploaded via a bank statement and have been explained, tick the checkbox next to each transaction you want to delete. To select all the transactions listed on a page, tick the checkbox for one transaction and then tick the box that appears to the left of ‘Date’, just below the time period drop-down menu. This will select all the other transactions listed on the page.

Please note that you can't delete ‘Money In’ and ‘Money Out’ transactions at the same time. Instead, you'll need to delete one type of transaction first, then the other.

Select ‘Remove [X] explanations’ from the ‘Remove explanations’ panel on the right-hand side.

Select ‘Yes, remove the explanations’ in the pop-up window.

If you have any files attached to the bank transactions that were automatically matched to the transaction by FreeAgent, they will automatically be moved to the ‘Smart Capture’ tab in your Files area. If the attachments weren’t captured using Smart Capture, you’ll have the option to either permanently delete them or move them to the ‘General files’ tab in your Files area manually. Choose the relevant option from the pop-up window.

Once the explanations have been removed, select ‘Delete [X] transactions’ from the ‘Delete transactions’ panel on the right-hand side.

Select ‘Yes, delete the transactions’ in the pop-up window to complete the process.

Manually entered transactions

If the bank transactions were entered manually, tick the checkbox next to each transaction you want to delete. To select all the transactions listed on a page, tick the checkbox for one transaction and then tick the box that appears to the left of ‘Date’, just below the time period drop-down menu. This will select all the other transactions listed on the page.

Please note that you can't delete ‘Money In’ and ‘Money Out’ transactions at the same time. Instead, you'll need to delete one type of transaction first, then the other.

Select ‘Delete [X] transactions’ from the ‘Delete transactions’ panel on the right-hand side.

Select ‘Yes, delete the transactions’ in the pop-up window to complete the process.

If you have any files attached to the manual bank transactions, you will have the option to either permanently delete the attachments or move them to the ‘General files’ tab in your Files area. Choose the relevant option from the pop-up window.

A record of the transactions being deleted will appear in your Audit Trail report.