New feature: Sole trader/self employed personal transactions

We have released a new feature that allows users of sole trader/self-employed Clear Books accounts, to explain bank transactions as personal transactions with a single click.

Enabling the personal transactions feature on a bank account

If you have a bank account that is used for both personal and business transactions, you can enable this feature by using the "Edit" link for that account from the bank accounts page.

Select the "Settings" page and set the "Used for personal and business transactions" option to "Yes".

One-click personal transactions

When viewing a bank statement, any transaction can be explained as a non-business transaction with a single click, by using the new "Personal transaction" icon.

When viewing All transactions, these will be show "Personal transaction" in the details column.

They will also be listed in a new "Personal" view.

And a new "Personal" section in the Summary view.

When an unexplained transaction is selected, you can still use the personal transaction icon, or use the new "Personal" transaction type option.

Note: Personal transactions are coded to a new "Personal transactions" account code in the drawings section of the balance sheet. They are also assigned to a new "Personal transactions" contact.

Import rules

Import rules also have a new "Personal" action option, so future transactions can easily be explained, or automatically explained by Clear Books using the Auto explain feature.