This article explains how to start accepting debit and credit card payments for your FreeAgent invoices using Tyl by NatWest via the FreeAgent mobile app.
You can also collect invoice payments online using PayPal or Stripe.
Please note that:
- if you have an existing accounting integration with Tyl to reconcile your transaction data and charges, following the below steps to allow online payments with Tyl by NatWest for your FreeAgent invoices will create duplicate transactions in your FreeAgent account. Therefore, you should only follow the steps below if you don’t have an existing accounting data integration with Tyl set up in FreeAgent
- you won't be able to use the FreeAgent mobile app if you have an unincorporated landlord account
- you’ll need to have enabled the invoice payments for the Tyl by NatWest integration using the desktop version of FreeAgent before following the steps below
- any changes you make using the FreeAgent mobile app will be reflected in the desktop version of FreeAgent
Taking invoice payments using Tyl by NatWest
Open the FreeAgent mobile app on your iOS or Android device and log in using your FreeAgent login details if prompted. If you’ve accessed the app recently, you may be logged in automatically.
Tap the three-lined 'hamburger' icon at the top-left of the FreeAgent mobile app and select 'Invoices'.
Tap the ‘+’ at the top-right of the screen and follow the steps for creating an invoice using the FreeAgent mobile app.
In the ‘Payment options’ section, toggle the ‘Tyl’ option.
Select ‘Create invoice & add line items’ and enter the necessary details for the invoice.
When you’re sending the invoice to your customer, toggle ‘Include online payment button’ if you’d like to add a payment button to your invoice email.
How this works for your customers
This will add a button to your invoice that allows your customer to pay the invoice by card via Tyl.
Please note that your customer may need to go through 3D Secure 2 Strong Customer Authentication before they can make a payment for your invoice.
As soon as a payment is made by your customer, you should receive a confirmation email. This confirmation email will be sent to the email address of the registered FreeAgent account owner. Payments made with Tyl on a Monday, Tuesday, Wednesday or Thursday should appear in your bank account the same evening. Payments made on a Friday, Saturday or Sunday should appear in your bank account on Monday.
While payments are pending or being processed, FreeAgent will stop sending automatic email reminders.
How to explain Tyl payments and fees in FreeAgent
The way you’d explain any payments and fees in your FreeAgent account will depend on whether you’ve set up your Tyl account to deal with fees via the gross method or net method.
If you’ve set up your Tyl account to deal with your fees via the gross method, you’ll receive the full value of your invoices into your FreeAgent bank account if you’ve enabled a bank feed. Once the payments have been imported into FreeAgent, you can explain them as an ‘Invoice Receipt’ and allocate them to your invoices. Find out more about how to mark an invoice as paid.
Tyl will automatically take any fees that have been accrued out of your bank account at the end of each month. These will need to be explained to the appropriate cost category, such as ‘Bank/Finance Charges’. If you’re unsure which category to select, please ask your accountant.
If you’ve set up your Tyl account to deal with your fees via the net method, you’ll receive the value of your invoices into your FreeAgent bank account with the fees already deducted. Therefore, once the payments have been imported into FreeAgent, you’ll need to manually increase the value of the transactions to ensure that the invoices are fully paid and fees recorded. Find out how to split a transaction for charges deducted.