Set the various dropdowns to explain your transaction, just as you would in FreeAgent.

You have several options for the Description field:

  • Leave it blank: DoubleAgent will keep the transaction's original description.
  • Fill in some text: DoubleAgent will use that text for every matching transaction's explanation.
  • Extract and use all of the transaction's original description (via "{{*}}").
  • Extract and use part of the transaction's original description (via "... {{}} ..."). This is handy for quoting reference numbers.

Let's say you receive royalties for an online training course you have produced; from, in this case, Pluralsight.

Pluralsight is a U.S. company so the income is outside the scope of VAT.

I previously created Royalties as a new Income category in FreeAgent, which DoubleAgent imported.

You could set up a rule like this:

We always recommend doing a dry run (by clicking the Dry Run button) to see whether your rule does what you want.

Sometimes you need to split an explanation between two categories, for example to account for bank fees or commission payments. Read split payments to find out how.