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 the Smart Capture functionality will be saved to the ‘Smart Capture’ tab in the Files area, with the date and amount automatically extracted. The Smart Capture 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.

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. 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 Files area and exist only on the bank transaction. The Smart Capture logo will be removed from the transaction and the attachment logo will appear instead.

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 & Smart Capture’.

Select the ‘Smart Capture’ tab.

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’.