The Bank Explain screen allows you to explain payments and receipts in multiple different ways. 

You can reach the Bank Explain Screen by either importing/re-creating a statement or using the manage money options on the Money > Bank accounts menu.

The Bank Explain screen overview

This guide helps demonstrate how to explain a payment or receipt as a transfer from one bank account to another on the Bank Explain screen. Both bank accounts must be set up in Clear Books.

To streamline the process of explaining recurring transactions on an imported statement, you can set up bank import rules and explain transactions in bulk.


How to explain transactions in bulk on an imported statement (Mass update)

Step 1.

On the Bank Explain screen click on the Transfer tab. 

Step 2.

i. Select the bank account the money is being transferred from for receipts 

ii. Select the bank account the money is being transferred from for receipts 

Hit the Confirm transfer button to complete.

Explaining transfers in Clear Books updates the balance on the account receiving money and the account sending money. 

If you import statements for different bank accounts you will find that transfers between these bank accounts will appear as a receipt on one statement and a payment on another. Explaining both the payment and receipt on both separate statements will result in a duplicate. Please delete one of these transactions.

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