Banking

Banking essentials

• Deal with cash
• Search for bank transactions
• What's the difference between personal and business bank accounts in FreeAgent?
• Why can't I see 'Money Paid to User' or 'Money Received from User'?

FreeAgent bank accounts

• Add a new bank account
• How to edit a bank account
• Company credit cards

Uploading bank transactions

• Which bank statement formats does FreeAgent support?
• How to upload bank transactions from a bank statement
• Format a CSV file to upload a bank statement
• Undo a bank statement upload

Explaining bank transactions

• Explain bank transactions
• Explain multiple bank transactions in bulk
• Choose the appropriate type and category when explaining a bank transaction
• Explain money received into your bank account
• Explain money paid out of your bank account
• Categorise a business cost

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Splitting bank transactions

• Split a bank transaction between two categories
• Allocate fees or commission to a bank transaction
• Pay off multiple invoices with one payment
• Pay off multiple bills with one payment
• Pay off multiple credit notes with one payment
• Pay off multiple bill credit notes with one payment

Explaining income

• Record income without creating invoices
• Record till takings for shops
• Explain a bounced cheque received

Explaining payments to and from FreeAgent users

• Entering money in and out of the business (sole trader or partner)
• Explain transactions using the director’s loan account

Dealing with bank loans

• How to deal with a loan received
• How to deal with a loan provided to a business or employee

Dealing with underpayments and overpayments

• Deal with small underpayments
• Explain an overpayment from a customer

Dealing with e-commerce transactions

• Record Shopify transactions
• Record WooCommerce transactions

Editing bank transactions

• How to edit a bank transaction explanation
• Remove a bank transaction explanation
• Reviewing explanations for manually uploaded statements
• Reverse money in and money out
• How to delete bank transactions
• Reinstating deleted bank transactions

Bank reconciliation

• How to match your FreeAgent bank balance to your bank account balance
• Match a manual entry to an imported bank transaction
• Enter bank transactions manually

Guess

• How does Guess explain your transactions?
• How FreeAgent automatically matches receipts to bank transactions
• How to approve explanations for bank feed transactions
• How to enable Guess
• How to manage Guess

Foreign and multi-currency

• How multi-currency banking works in FreeAgent
• Receipt for a foreign currency invoice - uploaded transactions
• Receipt for a foreign currency invoice - manual transactions
• Explain funds transferred to or from a foreign currency bank account
• Record cryptocurrency transactions
• Migrate to a foreign currency bank account in FreeAgent