Sid M's dashboard

Sid M replied on November 09, 2008 20:14 to the problem "Duplicate entries appearing in my credit card account" in FreeAgent Central:

I seem to be having this issue again, coincidentally it happens to be the FreeAgent monthly fee that is appearing twice!

Here are the entries as they appear in the transaction list:

FREEAGENT CENTRAL +44 773301099 GBR//OTHER/£23.50
Freeagent Central 44 773301099 Gbr

Both appeared as transactions for 25th June 2008. Unfortunately, as I didn't see this at the time, I am now several imports down the history, so I can't undo without undoing a lot of imports.

Is there any way you can just delete this individual transaction for me please?

James Barlow replied on September 22, 2008 20:21 to the problem "Duplicate entries appearing in my credit card account" in FreeAgent Central:

I've belatedly noticed a couple of duplicate transactions from an HSBC QIF upload, so I also need to find some way to remove them. Currently I've got them listed as my only two "unexplained transactions".

Is there a fix available?

James Barlow started following the problem "Duplicate entries appearing in my credit card account" in FreeAgent Central.

Charles Verrier replied on September 08, 2008 16:31 to the question "We sell products as well as services, how would I manage that in FreeAgent?" in FreeAgent Central:

OK - and I understand you need to keep focussed.

A 'stock' account would certainly help - In my specific case, I've got about £8K worth of stock, which will skew my end of year accounts if I cant recognise this as an asset.

Hopefully, this won't be a regular thing, so I won't need to muck about with journals too much.

A comment on the question "We sell products as well as services, how would I manage that in FreeAgent?" in FreeAgent Central:

Charles - hmmm, there's a good reason we've not done this yet, and it's to do with how we account for when that stock is actually sold. We'd need to link a given invoice item to a particular cost value of stock.

This is pretty clearly outside our stated focus of service-based micro-businesses, but as I say we'll include a Stock category for you to journal to/from if that's enough for you... – Ed Molyneux, on September 07, 2008 22:19

Richy C. started following the question "We sell products as well as services, how would I manage that in FreeAgent?" in FreeAgent Central.

Charles Verrier replied on September 06, 2008 09:33 to the question "We sell products as well as services, how would I manage that in FreeAgent?" in FreeAgent Central:

Actually, to be accurate - you have 'Assets' (in the sense that there's a balance-sheet heading) - so I suppose we actually need a 'Stock' account, which appears under the 'Assets' section of the Balance Sheet.

;-)

Ed Molyneux replied on September 04, 2008 12:12 to the question "We sell products as well as services, how would I manage that in FreeAgent?" in FreeAgent Central:

Charles,

You're right - there isn't one. We'll add one.

Charles Verrier replied on September 04, 2008 11:52 to the question "We sell products as well as services, how would I manage that in FreeAgent?" in FreeAgent Central:

As a start - can we have an Assets account set up? - at least that way, I could do a manual journal.

As far as I can tell - there isn't one at present (at least not in the pick list on the journal screen).

Charles Verrier replied on September 03, 2008 19:12 to the question "We sell products as well as services, how would I manage that in FreeAgent?" in FreeAgent Central:

From an accounting perspective - if I buy stuff to sell, shouldn't this appear on my balance sheet as an asset (not a capital asset)?

If I buy to order, then it probably won't hang about long enough to matter, but if I hold stock for sale to future (unknown) clients.....

I have this situation with a software house I am an agent for - part of the agency contract is that I commit to purchasing an initial stock.

nui started following the problem "Duplicate entries appearing in my credit card account" in FreeAgent Central.

Sid M replied on June 23, 2008 23:33 to the problem "Duplicate entries appearing in my credit card account" in FreeAgent Central:

Thanks for your speed replay, as usual (you guys work too late!). I've actually just used the undo feature to remove my last 6 statements, re-exported them from HSBC and re-imported them all. While a couple of instances of duplication are now gone, there are still a couple of examples of duplicate entries. They may existing in the .qif files themselves, but I certainly can't find them, and when I export as a .csv from HSBC they don't appear either.

I'll email the .qif files. Thank you!

Olly replied on June 23, 2008 23:26 to the problem "Duplicate entries appearing in my credit card account" in FreeAgent Central:

Hi Sid

Sorry to hear you're having problems. We do support HSBC Credit Card QIF files, but it wouldn't surprise me if there were variations in the QIF format even from the same bank!

If you could send the QIF file (anonymizing the data if you prefer) to olly at freeagentcentral dot com we'll provide a workaround as soon as possible.

Also, if you haven't spotted it, you can undo the previous statement upload by clicking the Undo Last Upload button on the Bank Account Show page. Not that this helps you get your transactions in right now, sadly.

Sid M reported a problem in FreeAgent Central on June 23, 2008 23:16:

Duplicate entries appearing in my credit card account

It appears that I'm seeing duplicate entries being imported into my credit card account. Same transaction amount, same date, but with slightly different descriptions (usually a special character missing, or similar).

I'm using .qif statement files, downloaded from HSBC business banking. Seems to work fine importing into all my other accounts.

As there is no delete button for these transactions, I was going to create a manual adjustment, but I thought I'd better flag it to you guys instead. Let me know if you need to see the .qif files.

Mike Wilson replied on April 01, 2008 17:18 to the question "We sell products as well as services, how would I manage that in FreeAgent?" in FreeAgent Central:

Yes. That would have a similar effect to adding a line of type "product" to your invoice manually. It saves only a few seconds of your time, but it's a useful feature nonetheless.

Sid M replied on March 31, 2008 22:02 to the question "We sell products as well as services, how would I manage that in FreeAgent?" in FreeAgent Central:

I see, so I could go into an existing expense and just select to rebill that expense to another project without having to create an expense from scratch?

I'm starting to add in our records at the moment, so I'm guessing these points will become clearer once I've used it in anger.

Mike Wilson replied on March 31, 2008 21:59 to the question "We sell products as well as services, how would I manage that in FreeAgent?" in FreeAgent Central:

Hi Sid,

Don't forget that you can automatically rebill expenses directly to projects. This feature really comes in handy when working for clients on a "Time and Materials" basis.

Cheers,

Mike

Sid M replied on March 31, 2008 21:55 to the question "We sell products as well as services, how would I manage that in FreeAgent?" in FreeAgent Central:

Wow.. the quickest response I think I've ever received to a product query! Thanks!

I think I get what you mean... I'll have a go and see if that fits my requirements. Adding a markup is a nice idea, as is automatically marking the expense as a product, if "expensing" your product is currently the way you do it... although it doesn't feel quite right for some reason.

As with quite a few of my initial experiences of using FreeAgent, it does what you need, but comes at it from a slightly different (often more logical) angle, you just have to unlearn the way that other system would do it.

Having said that, in this particular case, having a list of products that isn't tied to a particular project that I could add to invoices would be really useful though...

Ed Molyneux replied on March 31, 2008 21:35 to the question "We sell products as well as services, how would I manage that in FreeAgent?" in FreeAgent Central:

In your bank accounts, the products you buy for resale to your client would be explained as 'Cost of Goods Sold'.

You could still rebill these to your projects (so that you actually remember to rebill them, for example) but you would just need to change each invoice item type to 'Products' rather than 'Expenses' once the 'expenses' had been added.

We could probably automatically do this if your expense was categorised as a 'Cost of Goods Sold' rather than some kind of admin expense, and now that you mention it we may just go ahead and do that.

Thanks for the great idea!

(We don't yet allow a markup to be automatically added, but presumably would you like to be able to do that?)

Sid M asked a question in FreeAgent Central on March 31, 2008 21:28:

We sell products as well as services, how would I manage that in FreeAgent?

I don't really want to mark this down as an expense as it isn't a cost incurred while working for a client, but a physical product they can purchase (e.g. a server).