Specific Free Agent questions

[radish2008]

Think you may be referring to directors loan, if you have gone over £10k during the year and not charged interest. No Divi section on the P11D.

I may have been thinking about accommodation and subsistence expenses - I tend to do my accounts every 6 months and it was always a pain to get everything up to date to fill out the form. Glad it's simpler to do now.

[radish2008]

Thanks to everyone for the posts and info.

Final questions.

I'm 8 months into my financial year - would transferring 8 months of details be a pain ? Should I wait until the end of year in Oct ?

Also, regarding transactions, sometimes (and I know this is bad practice) I transfer say £1k at the end of the month and then split this on the SJD excel into £860 salary and the £140 declared as a dividend. My bank account would show a transfer of £1k. Can I amend this in the FA ledger so that historical data is accurately tagged ?

[Michael at BI Accountancy]

Thanks to everyone for the posts and info.

Final questions.

I'm 8 months into my financial year - would transferring 8 months of details be a pain ? Should I wait until the end of year in Oct ?

Also, regarding transactions, sometimes (and I know this is bad practice) I transfer say £1k at the end of the month and then split this on the SJD excel into £860 salary and the £140 declared as a dividend. My bank account would show a transfer of £1k. Can I amend this in the FA ledger so that historical data is accurately tagged ?

If you are on the SJD spreadsheet then this is a rather straightforward process to get the data transferred onto FreeAgent for the current year, therefore no reason not to switch part way through the year.

https://www.freeagent.com/support/kb...wo-categories/

With regards to the transactions, you can split these on FreeAgent by going to more details then entering the amount which needs going to salary, the system will then create an additional transaction for you to allocate elsewhere.

[SeanT]

Ooh, I didn't know you could split the transactions, I've been using a journal entry to transfer 243 from salary to childcare vouchers...

[FrontEnder]

Personally, I seriously recommend you do NOT use the FreeAgent bank account integration since it involves disclosing all your log on data to a third party that you may know almost nothing about in reality. The (Santander for me) bank and FA download and upload function using a Quicken .qif file takes seconds to do. However, the choice and the risk is yours to choose or not.

This is not quit true.

I use Barclays and they have a data feed specifically for this kind of thing. I don't give my log in details, just added the account and then I got some communication from Barclays asking me to authorise it (can't remember the exact process, think I had an authorisation code sent in the post).

It's a read only feed.

[SuperLooper]

Personally, I seriously recommend you do NOT use the FreeAgent bank account integration since it involves disclosing all your log on data to a third party that you may know almost nothing about in reality.

The third party is Yodlee. They've been around for ages, they are the de facto standard for bank integration, and they have an extremely strong reputation for security. They are not a fly-by-night organisation. (I have no connection with FreeAgent or Yodlee.)

[radish2008]

The third party is Yodlee. They've been around for ages, they are the de facto standard for bank integration, and they have an extremely strong reputation for security. They are not a fly-by-night organisation. (I have no connection with FreeAgent or Yodlee.)

I suspected this was true- I have no problem with read only access, I don't want anyone else being able to access my account though.

[ContrataxLtd]

I suspected this was true- I have no problem with read only access, I don't want anyone else being able to access my account though.

There is a specific FAQ on the Freeagent site in relation to this:

https://www.freeagent.com/support/kb...faqs-security/

Might be worth a read...

Martin
Contratax Ltd

[northernladuk]

There is a specific FAQ on the Freeagent site in relation to this:

https://www.freeagent.com/support/kb...faqs-security/

Might be worth a read...

Martin
Contratax Ltd

Blimey, so there is. We should have pointed that out to the OP earlier... Like in post 4

[ContrataxLtd]

Blimey, so there is. We should have pointed that out to the OP earlier... Like in post 4

Late to the party as usual, maybe I should ask my accountant before posting anything on CUK in future...