There are two different ways DoubleAgent can find the appropriate invoice to settle:
either you specify specific text to match in the transaction's description, and then a specific contact the payment is from; – DoubleAgent finds the invoice "by contact";
or you tell DoubleAgent to look for the invoice whose reference appears in the transaction's description: – DoubleAgent finds the invoice "by reference".
Here's an example of "by contact": let's say you have invoiced Acme Ltd and that whenever Acme Ltd pays you, they put ACME in the payment reference. You can tell DoubleAgent that when a credit's description includes ACME, it should explain it as an Invoice Receipt against Acme Ltd's earliest unpaid invoice(s).
And here's an example of "by reference": let's say when you invoice people you ask them to give the invoice's reference in their payment reference. You can tell DoubleAgent to look at every unpaid invoice and settle the earliest whose reference is included in the transaction's description.
Find invoice by contact
DoubleAgent finds the earliest unpaid invoice for your contact. If the credit is enough to pay the invoice, DoubleAgent will do so.
If there is money left over from the credit, the process starts again: DoubleAgent looks for your contact's earliest unpaid invoice and pays it if possible.
Example
Let's say:
you have invoiced your contact Acme Ltd twice: first for £100 and then for £50;
payments from Acme look like Acme ref ABC123/// on your bank statment.
You could set up a rule like this:
When a credit from Acme for £100 appears in your bank account, DoubleAgent will find your first invoice and pay it with this transaction. The credit is used up so DoubleAgent stops there.
If instead you had a credit from Acme for £150, DoubleAgent would find your first invoice and pay it; and then find your second invoice and pay that too.
On the other hand, if your first invoice had been for £50 and your second for £100, and you received a £100 credit, DoubleAgent would pay off the first invoice and stop there, leaving £50 of the credit unreconciled.
Find invoice by reference
DoubleAgent finds your earliest unpaid invoice (across all your contacts) whose reference appears in the transaction's description and where the credit is enough to pay the invoice.
Any money left over from the credit is left unexplained.
Example
Let's say:
you have invoiced Arthur Dent for £100 via invoice 1234;
you have invoiced Ford Prefect for £100 via invoice 5678.
You could set up a rule like this:
And now let's say a credit of £100 appears in your bank account with the description, "REF INV 5678///".
DoubleAgent will see the credit and use it to settle Ford Prefect's invoice.
We always recommend doing a dry run (by clicking the Dry Run button) to see whether your rule does what you want.
Start my free trial
First we need to connect your FreeAgent account.
When you click the button, DoubleAgent will send you to FreeAgent.
FreeAgent will ask you to log in and whether to allow DoubleAgent to access your account.
You need to have access to the tax, accounting & users level in FreeAgent. If you are your FreeAgent account owner, you are all set.
If your change your mind later, you can disconnect DoubleAgent like this:
On FreeAgent's Connections & Add-ons → Banking, bank feeds and approved applications page, click the Revoke Access button for DoubleAgent.
