Freeagent - The Book-keepers Forum (UK)

Elaine R · Senior Member

Freeagent

Telnkate · Veteran Member

Hi Elaine

When you have all the bank entries that you are adding explanations to, you would simply book the receipt to 'sales' in the drop down menu (when you're adding the explanation) which goes straight to the P&L. if you had booked invoices on then you would book it as an 'invoice receipt' and you would then identify the relevant invoice you are allocating payment to.

I love freeagent so any help I can give, just let me know x

Elaine R · Senior Member

Hi,

Thanks. I worked it out after I had put this post on. I hated it for the first few weeks but now it is growing on me.
May come back to you for more help once I get more invoices input and bank transactions allocated.

Elaine

Telnkate · Veteran Member

Hey that's fine - let me know - especially when you have one receipt to allocate to several invoices or one payment to allocate to several purchase invoices etc!

Donna CBK · Senior Member

Telnkate wrote:
Hey that's fine - let me know - especially when you have one receipt to allocate to several invoices or one payment to allocate to several purchase invoices etc!

Hi I may have a client coming on board that uses freeagent, can I email you if stuck please !!

Telnkate · Veteran Member

of course, have messaged you via your website x

FoxAccountancyServices · Expert

I am not a fan of Freeagent. No reverse charge tax code, and you cant enter supplier credit notes, you have to pay off the whole invoice and then post a bank receipt (that's how their website told me to do it, happy to be shown otherwise!!). Its very funny about letting you add nominal codes too, and is generally a little long winded.

I personally don't feel it warrants a fee of over £30 a month.

Elaine R · Senior Member

Hi Kate,

I am looking for some more help with freeagent. Before I realised about matching transactions using the dropdown box I actually went in to invoicing and created sales invoices.

Is there anyway of deleting these invoices as I have now matched the bank transactions that these relate to.

Elaine

Telnkate · Veteran Member

hiya

You go to the bank explanations that relate to the ones you have allocated to the invoices - you click on them - you select remove explanation (top rightish button) and then the bank entry remains as a red line that needs an explanation.
From here you go to invoicing and find the specific invoice you want to delete/amend and you click on it, then where it says make draft/mark as sent etc (just above the invoice to the left), you select the make draft option to revert it back to draft form. then you can select from the options on the right to delete it.

From there, you have no invoice and also the bank transaction to re-explain.

Hope this helps

Kate

Elaine R · Senior Member

Hi Kate,

That was very helpful. Think I will be back for more info. Want to get to grips with Freeagent so that I can get some more clients.

Elaine

Elaine R · Senior Member

Hi

A little more help on Freeagent needed.

I have to refund a client for a service that was cancelled. How do I match this in the bank?

Elaine

Telnkate · Veteran Member

do you mean you are trying to issue a credit note bill and then make a physical bank refund?

Elaine R · Senior Member

The bank refund has already gone through but I need to match it to a transaction.

It is for a rugby coaching session for children that was cancelled.

I cannot see anywhere that covers what I am trying to do.

Telnkate · Veteran Member

Create a credit note by going to 'bills' and entering the bill as negative figures both in amount and VAT.
Save.

Go to bank.
find transaction refund.

When selecting explanation
Select 'type' - money in/bill refund
Allocate to credit note.

This should sort it out if I have understood correctly.

If the original payment going out to the rugby coaching session (prior to cancellation and refund) was not against a bill (on the BS) but was just a 'payment' (on the P&L) then when selecting 'type' choose money in/refund and then make sure the category is the same as the category you used when you booked the original payment for rugby coaching sesh.

Hope this helps but if not, let me know and I will have another think.
Kate

Telnkate · Veteran Member

Hiya Fox Accountancy, I'm sorry, I was just scanning through the posts on this thread and realised I didn't respond to yours - I know you weren't necessarily looking for a response but I thought I would message you to say you can create credit notes by selecting bill and then putting in negative figures in the amounts to deal with this - but yes, you will need to create the contra bank transaction to ensure these are tidied up.

For the reverse charge VAT - you just create a journal between VAT charged and VAT reclaimed once you've calculated your EC stuff.

but you are right - it doesn't warrant £30 per month although the support is great the software does have limitations.

FoxAccountancyServices · Expert

Hi Kate, thanks for your reply :)