How FreeAgent automatically matches receipts to bank transactions

This article explains how FreeAgent automatically matches receipts captured using Smart Capture to bank transactions. It also explains how to disable the functionality.

Receipts added using Smart Capture will be saved to the Smart Capture area, with the date and amount automatically extracted. The Smart Capture lightning bolt symbol will be displayed to the left of the extracted data.

If there is a ‘Money out’ bank transaction that is marked ‘For approval’ or has already been approved or explained, with a matching date and value, the receipt will also automatically be assigned to that transaction. The ‘Bank transaction’ column will indicate which Smart Capture files have been matched to a ‘For approval’ bank transaction or a transaction that has already been approved or explained. If we match a Smart Capture to a previously ‘approved’ or explained transaction, the transaction will need to be re-approved to approve to file attachment.

Please note that Guess will need to be enabled on the relevant bank account before the bank transaction is imported, in order for the bank transaction to have the status ‘For approval’.

If the receipt isn't automatically matched to a transaction, FreeAgent will try to suggest a file when you attach a file to a bank transaction.

The bank transaction must be dated between the receipt date and two business days after in order for the receipt to be matched to it. If there is more than one possible matching bank transaction, FreeAgent will assign the receipt to the transaction with the closest matching date.

FreeAgent will automatically check once each day, for up to seven days from the date that the receipt is uploaded into Smart Capture, 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.

Before the bank transaction is approved, the receipt may still be added to a different transaction, bill or out-of-pocket expense, or converted to an out-of-pocket expense or bill. 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.

Once the matched bank transaction is approved, the receipt will be removed from the Smart Capture area and exist only on the bank transaction. The Smart Capture symbol will be removed from the transaction and the attachment logo will appear instead.

Suggested matches

If the receipt isn't automatically matched to a transaction, FreeAgent will try to suggest a file when you attach a file to a bank transaction. Files with matching captured data will be presented at the top of the list.

How 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 'Smart Capture’.

Select the ‘Settings’ button 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’.