Explain a bank transaction
Adding a category or ‘explanation’ for bank transactions helps FreeAgent keep your accounts up to date and populate your tax returns. If you haven’t enabled a bank feed yet, you’ll need to do that first.
Why do I need to explain bank transactions?
It’s all about saving time. FreeAgent will learn and then start to automatically explain new transactions based on your previous explanations.
- It helps FreeAgent populate tax returns, like Self Assessment
- If you’re VAT-registered, it helps build your VAT returns
- You can explain transactions on the go with the FreeAgent mobile app
Getting Started webinar

Designed especially for new customers, this live webinar will give you the lowdown on FreeAgent’s key features, and our support team can answer any questions you might have.
What is FreeAgent?
FreeAgent is tailor-made for small businesses to help them manage their finances, taxes and more.

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