This article explains what Guess is, and how to turn it on for your bank accounts or bank feeds.
Guess is a FreeAgent feature that attempts to automatically explain your transactions, based on existing information in your FreeAgent account.
Guess is designed to save you time manually explaining all of your bank transactions, by suggesting relevant explanations for you to approve. Find out how Guess explains your transactions here.
Why should I turn on Guess?
If you’ve got a large number of bank transactions coming through, either from your bank feed or a statement upload, explaining them all individually can be a bit time-consuming.
Guess uses its knowledge of your banking history to suggest these explanations for you, so all that's left for you to do, is approve those explanations. This is easy to do and we recommend approving your transactions on a regular basis. Find out more about this here.
How to turn on Guess
Setting up a new bank account
When you’re setting up a new bank account, you’ll see the checkbox (shown below), which will allow you to enable Guess.
Edit an existing account
Navigate to the 'Banking' tab, go into the relevant bank account and select 'Edit Details'. Check the box (shown below) to enable Guess and save your changes.
Setting up a new bank feed
Bank feeds automatically import transactions from your bank account into your FreeAgent account.
When you set up a third-party Yodlee bank feed, you’ll see a checkbox with the text 'Guess explanations for my bank transactions', right before you select the green ‘Enable Bank Feed’ box to finish setting up your feed.
Editing an existing bank feed
Navigate to the 'Banking' tab, go into the relevant account, select 'More' and then choose 'Edit Bank Feed’ from the drop-down.
Check the box to enable Guess and select 'Update bank feed'.
Upload a bank statement
You can also use Guess when you upload a bank statement. Every time you upload a statement, you’ll see a prompt to enable Guess. Simply check the box, and FreeAgent will guess the explanations of those uploaded transactions.
If you enable Guess, FreeAgent will continue to guess explanations for your bank statement uploads, until you uncheck this box.