Record Keeping overview

What is this?

The Record Keeping Section helps you keep  track of your transactions in a digital format. Transactions can be automatically uploaded directly from your bank feed, imported by CSV-file or manually added.

What can I do in Record Keeping?

Adding transactions manually

You can add individual transactions to their Record Keeping to ensure all transactions are digitally logged and included in the tax return. 

How to add a manual transaction

1. Go to Record Keeping and select Add Transactions Manually

2. Select Income or Expense

3. Enter the description, recipient, business source and category

4. Choose the Account and input Date and Value

5. Mark as refund if applicable by changing the slider

6. Attach receipt/ invoice and add notes if required

7. Select Add transaction to save

Importing a CSV-file (spreadsheet)

If you don't have a bank feed or have a record of transactions from a spreadsheet you can import your spreadsheet on bank CSV statements directly into the software.

CSV-file checklist

1. Save the spreadsheet as CSV-file, this is possible from most devices

2. Ensure all cells are formatted as text

3. Ensure no rows are empty

4. Delete any ‘Total’ rows or rows where the transaction value is ‘0’

Use the software spreadsheet template

1. Download the software CSV template

2. Copy and paste your transactions into the structure

3. Save the file as a CSV

How to import

1. Go to Record Keeping and select Import CSV-file

2. Select the transaction source from the dropdown

3. Select Choose File to upload your CSV, then click Continue

4. Map the fields by matching your file headers to software column headers

5. Select Import to finalise the upload

The data will be added to your unassigned transactions.

Assigning Transactions 

Once your bank feed is connected and the transactions are fed into the software, you can allocate them to the correct categories which will update the correct boxes on your tax submission form. This will allow you to keep on top of your income and tax-deductible payments such as business expenses, charitable donations and pension contributions.

1. To view Unassigned Transactions: Go to the Record Keeping section and select View All to see the unassigned transactions.

2. Select Transactions to Assign: Select the circle next to the transaction(s) you want to assign. You can assign them individually or group them together by selecting multiple transactions. You can filter the unassigned transactions by name, date, bank account, income or expense.

3. Choose Business Source & Category: From the dropdown menus in the bottom right corner, select the appropriate Business Source and Category for the transaction(s). Select Apply to confirm and assign the transactions. 

4. By selecting the 3 dots on the transaction and selecting Edit you can also add notes and upload an invoice/ receipt to a transaction by uploading via browse files or dragging and dropping your file into the upload box.

Splitting a transaction

If you have a transaction that falls into multiple sources or categories you can split the transaction appropriately. By selecting the 3 dots on the transaction and selecting 'Split' you can then assign the correct proportions to each category including splitting transaction into income and expenses eg. split a single transaction from a letting agent into gross rent and their management fee.

Private Transactions

If your transaction doesn’t relate to your Self Assessment Tax Return, or they don’t want it included, you can either delete the transaction or set the Business Source and Category to Private.

Export Data

1. You can export a data file of your reviewed transactions which will include all the transaction information from the Date, Account Business, Income and Expense category and transaction value. 

2. You can export the reviewed transaction data by going to Record Keeping and selecting Export Data under reviewed transactions. You can use the search bar or filter button if you wish to create an export of certain transactions like expenses or by date period, when the desired filters have been set select Export Data.