This article explains how to upload bank transactions from a bank statement in FreeAgent.
The quickest and easiest way to do this is to export your bank statement from online banking, upload it into FreeAgent, and then explain all the transactions. You can also enter your bank transactions manually.
1. Export a statement from online banking
Firstly, you'll need to go into your online banking account and export a statement – FreeAgent supports a range of bank statement formats. If you get stuck with exporting the data then you need to speak directly to your bank.
When you're exporting, make sure that you've included the correct dates for your statement. If you've already input any transactions into FreeAgent make sure that you start from the day after the last transaction's date, if you haven't then you might want to go back as far as your FreeAgent start date. FreeAgent will aim to spot any duplicate transactions and ignore them.
If your bank doesn’t support OFX or QIF bank statement formats when downloading a bank statement from your online banking, you’ll need to download a CSV file instead and format it before you can upload it into FreeAgent.
Information required in FreeAgent
You need to have your bank account and sort code entered into FreeAgent for the account for which you're going to upload transactions.
2. Import a statement into FreeAgent
Navigate to the 'Banking' tab at the top of the screen and select 'Bank Accounts' from the drop down menu.
Choose the bank account that you're going to upload a statement into.
Then, select 'Upload Statement'.
Alternatively, choose 'Upload a Statement' from the 'Quick Links' menu on the 'Overview' screen. If you use this option, FreeAgent will ask you to choose which bank account to upload to.
Once you've exported your statement from your online banking system and saved it to your computer in the correct format, use the Browse here option to select the file you've just saved and 'Upload Statement'.
3. Guessing transactions
If you want FreeAgent to guess which transactions belong in which category, by looking at transactions you've previously uploaded, then check the Guess box.
Once the box is checked, these will be explained automatically so please review the transactions before you upload the bank statement.
Select 'Upload Statement' to complete the process.
Once you've uploaded your transactions, the next step is to explain them.
What if I've uploaded the wrong statement?
You can undo the last upload.