How FreeAgent automatically matches receipts to bank transactions
This article explains how FreeAgent automatically matches receipts captured using ‘Capture for later’ to bank transactions. It also explains how to disable the functionality.
Receipts added through the ‘Capture for later’ functionality on the FreeAgent mobile app will be saved to the ‘Files’ area and the date and amount will be automatically extracted. The ‘Auto Extract’ lightning bolt symbol will be displayed to the left of the 'Total value’ column.
If there is a ‘Money Out’ bank transaction that is marked ‘For Approval’ with a matching date and value, the receipt will also automatically be assigned to that transaction. The bank transaction must be dated between the receipt date and two days after in order for the receipt to be matched to it. If there is more than one possible matching bank transaction, FreeAgent will not assign the receipt to a transaction.
FreeAgent will automatically check once each day, for up to seven days, to find a bank transaction to match the receipt to. Please note that it can take up to 24 hours for FreeAgent to automatically match a receipt to a bank transaction if the receipt is uploaded before the bank transaction has been imported or uploaded into FreeAgent.
Once the matched bank transaction is approved, the receipt will be removed from the ‘Files’ area and exist only on the bank transaction. The ‘Auto Extract’ logo will be removed from the transaction and the attachment logo will appear instead.
Please note that before the bank transaction is approved, the receipt may still be added to a different transaction, or added to a bill or out-of-pocket expense. The receipt would then be removed from the bank transaction that it was assigned to and exist only on the chosen transaction, bill or out-of-pocket expense.
How to disable the auto-matching of files to bank transactions
To disable the auto-matching of files to bank transactions, navigate to the drop-down menu at the top-right of the screen and select 'Files’.
This will bring up a list of your files.
Select ‘Settings’ in the top-right.
Set the toggle to the right of ‘Auto-match files to bank transactions’ to ‘Off’.
If you would like to enable auto-matching of files to bank transactions in the future, follow the steps above and set the toggle to ‘On’.