FreeAgent: Nominal Ledger

Previous Lesson: Getting Started

Introduction

You need to set up Nominal Accounts.

Linking Nominal Accounts in FreeAgent with Accounts in Commusoft tells the software where to put the data. Without this stage, attempting to send data from Commusoft to FreeAgent will fail, because it does not know where to send it.

Go to 'Purchasing' in the top right corner of your screen.  Then click on Setup Account.

You will be shown a list of the default nominal accounts that Commusoft provide you.  By default Commusoft will provide you with an Accounts Receivable (Sales) account and a Bank account.  You can add additional Sales, Bank and Expense accounts by clicking on the + icon:

 

Linking Bank Accounts

Firstly we need to link our Commusoft Bank Accounts with our FreeAgent Bank Accounts.

You need the Account ID, so that you can then add this to the corresponding account within Commusoft.

To open the desired bank account in FreeAgent go to Banking:

 

Select the Bank Account you wish to link with Commusoft, in this case we are linking our Test Account so we will click on Test Account.

The following screen will open. 

To get the Bank Account Code required by Commusoft, copy the number in the URL (Address Bar) as circled below.

 

With this code go to Purchasing > Setup Accounts

 

On the following page, find the account you wish to link. Here we are linking our FreeAgent Test Account with our Commusoft Test Account.

Click Edit.

 

 

Type in the code gathered in the steps above and click Save.

 

 

These Accounts will now be linked.

 

Linking Sales Accounts

 

We need to link our Commusoft Sales Accounts with our FreeAgent Sales Accounts.

You need the Account ID, so that you can then add this to the corresponding account within Commusoft.

To open the desired Sales account in FreeAgent go to Settings in the top right corner.

FreeAgent4.png

 

In the following screen, click Income & Spending Categories

 

FreeAgent5.png

 

Under the Income tab, you will see the income accounts such as Sales, that you have set up in FreeAgent.

Copy the code in the left column under Code. 

 

 

With this code go to Purchasing > Setup Accounts

 

On the following page, find the Sales Account you wish to link. Here we are linking our Sales Accounts.

Click Edit.

 

Type in the code gathered in the steps above and click Save.

 

 

Linking Expense Accounts

 

We need to link our Commusoft Expense Accounts with our FreeAgent Expense Accounts.

You need the Account ID, so that you can then add this to the corresponding account within Commusoft.

To open the desired expense account in FreeAgent go to Settings in the top right corner.

FreeAgent4.png

 

In the following screen, click Income & Spending Categories

 

FreeAgent5.png

 

Under the Admin Expenses (and Cost of Sales) tab, you will see the Expense Accounts such as Office Costs and Mileage, that you have set up in FreeAgent.

From the appropriate Account, copy the code in the left column under Code. 

 

 

 

With this code go to Purchasing > Setup Accounts

 

On the following page, find the Expense Account you wish to link. Here we are linking our Mileage Accounts.

Click Edit.

 

In the next screen type in the code you found in the process above in the field marked Third party accounting code.

Click Save

 Your Expense accounts will now be linked. 

Repeat this process for all sales and bank accounts.

 

Next Lesson: Link Existing Customers

Have more questions? Submit a request

0 Comments

Article is closed for comments.