FreeAgent have recently introduced a new user interface for bank explanations and it’s even quicker to work with than before.

The old way meant you had to click into each transaction , one at a time, to explain what the item was for, which then took you into a new page. The new way lets you explain all the transactions on the same screen.

FreeAgent Accountants

So for example, on the below screenshot let’s say you want to explain the £1,291 payment out to Apple, you would first click on the red text line.

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This then opens up the quick explanation fields (below) where you can explain the VAT rate and what the item is for.

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You might sometimes need more detailed analysis than this, for example if the payment needs to be split out into more than one line or you need to allocate to a project. In this case you would click on the ‘More Options’ button, per below.

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Which then opens up the traditional bank explanation screen which was used before this update.

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So there you have it, FreeAgent continues to improve!