Convert a Smart Capture file into an out-of-pocket expense
This article explains how to convert a file from the Smart Capture area, for example a receipt, into an out-of-pocket expense.
Please note:
- Only a file in the Smart Capture area can be converted into an out-of-pocket expense.
- When you convert a file from the Smart Capture area into an out-of-pocket expense, FreeAgent’s Smart Capture functionality will attempt to automatically extract key details from the file.
- When you convert a file from the Smart Capture area into an out-of-pocket expense, the file will be removed from the Smart Capture area and exist only on the out-of-pocket expense.
You can also convert a file into a bill, or use the FreeAgent mobile app to convert a file into an out-of-pocket expense or attach an image file to an out-of-pocket expense, bill or bank transaction.
Navigate to the relevant file in the Smart Capture area
Navigate to the drop-down menu at the top-right of the screen and select 'Smart Capture’.
This will bring up a list of all your Smart Capture files. Files which have had the data extracted will have a lightning bolt icon next to it. Find out how to share a file to Smart Capture using the FreeAgent mobile app.
If you would like to edit the name of the file before you convert it to an out-of-pocket expense, select the three dots to the right of the total value and select ‘Edit name & privacy’.
Once you’ve made the relevant changes, select ‘Save changes’.
Convert the Smart Capture file to an out-of-pocket expense
Select the three dots to the right of the total value and select ‘Create expense’.
A new out-of-pocket expense will be created with the file as an attachment.
If you’ve converted a file from the Smart Capture area, Smart Capture will attempt to extract key details from the file.
Next, complete any additional relevant fields for the out-of-pocket expense.
If you're below the VAT threshold and not VAT-registered, you can leave the VAT rate as 'Auto' when adding the expense or change it to 'Out of Scope'. If you leave the VAT rate as 'Auto' and then register for VAT in the future, FreeAgent will automatically reclaim the VAT on these purchases on your first VAT return if required.
Review the details and select ‘Create New Expense’ at the bottom of the screen to complete the process.
You can also email files directly to Smart Capture if you’ve activated Smart Capture Unlimited as an add-on. If you email a file directly to Smart Capture, you can convert the file into an out-of-pocket expense by selecting ‘Create expense’.
If you're interested in learning more tips and tricks to save time on your daily admin, watch our webinar on FreeAgent efficiency hacks for busy businesses.