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FreeAgent: Quickstart Guide

What do you once you're connected

Now that you've connected your FreeAgent account to Equali, you can start posting your eCommerce and PSP settlements directly to FreeAgent: automatically or manually. Here's how to get started. 

 

Step 1 - Set your default posting settings: The first step to automating your settlement posting to FreeAgent is setting your default posting settings on the Settings -> Settlement Settings page:

  • a) We automatically create suggested mappings for your FreeAgent categories, but you should discuss these with your accountant before posting. You can update these on the Settings -> Settlement Settings page, and your changes will be saved for future postings. Find out more here. 

  • b) You'll also need to set a default bank account, which must be created in Equali on the Settings -> Settlement Settings page or the Settlements page. Find out more here. 

  • c) To automatically post settlements to FreeAgent, your defaults must be set and you must enable automated settlement posting. You can do this by ticking the "Enable automated settlement posting" box on the Settings -> Settlement Settings page. Find out more here. 

Step 2 - Review backfill and reconciliation results: 

  • a) Backfill: If you're connected to an eCommerce platform or payment provider, we've automatically started backfilling your data. During your trial, you can access one month of backfilled data. This extends to the backfill length associated with your subscription once you trial ends and your subscription is activated. 

  • b) Reconciliation: Equali automatically reconciles your orders, payments and payouts. You can review the results of these reconciliations by clicking "Reconciliation" or "Settlements" from the navigation bar, respectively. Find out more about settlement reconciliations here. 

Step 3 - Post to FreeAgent: As soon as you've set your default settings and we've processed, reconciled and categorised your data, you can start posting to FreeAgent. 

  • a) Posting automatically: If you set up your defaults and enabled automated settlement posting in step 1c, you're all set for automated settlement posting. We'll attempt to post your settlement to FreeAgent at or around 2pm the day we see your settlement for the first time. If the settlement does not meet all criteria to be automatically posted to FreeAgent, we will email you and you can post manually from the Equali dashboard.
  • b) Posting manually: You can post any settlement manually from the Settlements page on the dashboard. We still provide categorised breakdowns and reconciliation results, but you can view the results before posting. Best if you're looking for more control at the final stage in the flow. Find out how to use the Settlements page here.