Editing and removing bank transaction explanations

If you want to change an explanation, or simply remove it, just follow these steps.

If you've made a mistake while explaining a bank transaction, don't worry. So long as the transaction isn't in a locked VAT period, you can easily edit or remove the explanation.

How to edit an explanation

Find the transaction by selecting the bank account in ‘Banking’ and navigating to the month it falls in, using the ‘Show’ drop-down menu. You'll see that the transaction is green, with a tick, to show that it has been explained.

Select the name of the transaction, and it will expand. Simply edit the relevant information and select ‘Save Changes’.

How to remove a single explanation

Select the name of the transaction, then choose 'More Options’ to access the 'Edit an Explanation' screen.

From there, select the button labelled ‘Remove this Explanation’.

FreeAgent checks that you're sure you want to go ahead, and then removes the explanation.

You’ll see the transaction is now displayed in red with a question mark beside it, to show that it is unexplained.

How to remove multiple explanations

You can remove multiple ‘money in’ explanations or multiple ‘money out’ explanations at the same time - but you can’t remove a combination of the two.

To remove multiple explanations, begin by navigating to the ‘Banking’ tab and select the relevant bank account from the list of accounts.

Check the boxes of all the explanations you’d like to remove and then select ‘Remove X Explanations’ in the ‘Remove multiple transactions’ panel on the right-hand side of the screen.

A pop-up will then appear, asking if you’re sure. Select ‘Delete Transactions’ to proceed.

Bear in mind that once an explanation has been deleted, it cannot be recovered. This includes any associated attachments, such as receipts, so please exercise caution when removing explanations.

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