1. The Bank Explain screen
The Bank Explain screen (shown below) provides a variety of ways to explain bank transactions. This screen can be accessed via two methods, either by explaining transactions from an imported bank statement or via the manage money options for each bank account.
1.2. Access Bank Explain via Imported Statements
An imported/re-created statement will usually contain multiple transactions to explain in a list. There are multiple ways of creating an imported bank statement:
- Import a CSV
- Re-create a statement
- Import a statement via bank feeds
- Connecting Paypal and using the auto import feature
- Connecting Stripe
Once the statement is imported, it will be listed under the 'Imported transactions that need explaining' table at the bottom of the Money > Bank accounts menu. Just click on the 'Explain' link to access the Bank Explain screen.
1.3. Access Bank Explain via Manage money
The manage money options allow you to explain one transaction at a time on an adhoc basis.
To access the Bank Explain screen just head to the Money > Bank Accounts menu and select 'Money in', 'Money out' or 'Transfer' under the 'Manage money' column for the appropriate bank account.
Next, you will be required to fill in a form to enter the date amount and description of the payment.
Clicking on the 'Explain' button will take you to the explain screen where you will be able to select a contact, account code, VAT rate, etc