Bank Feeds on Sole Trader Free Account

Question asked by Garry Nutting 4 weeks ago

Hi, I'm one of the "lucky" few to have had a letter from HMRC telling me I need to MTD from next year. To get a head start, I've been testing out ClearBooks with my current tax year's data.

One of those tests was the bank feeds, I was under the impression (from some googling) that there was no restriction on the Bank Feeds allowed - but the free tier seems to be restricted to only one?

It's only a mild annoyance but I have a Business current account along with a Business savings account that I dump money into for paying HMRC. It'd be great if two bank feeds could be supported.

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4 Replies

Hi Garry,

The Free plan is restricted to one bank feed. If you require 1 or more bank feeds, this is supported on our Sole Trader paid plan at £5+VAT per month.

Tommy

Best answer
4 weeks ago

Hi Tommy, thanks for the quick response. I do have a question on this - if I do upgrade to a paid Sole Trader plan, can I downgrade if I find that it doesn't work for me?

(Without having to set everything back up again, getting the Reporting Periods set up was not easy ... the "Start date must be an earlier date than other reporting periods" error was annoying AF. Until I figured that I needed to add last year's period to add this year's period and then I could remove that previous period and all set .. not intuitive at all).

4 weeks ago

Hi Garry,

Unfortunately, there is not a downgrade path from the paid plans to the free plan without having to start again as the paid features that become available aren't compatible with the free plans once used.

I would advise using one bank feed for the meantime and testing out the rest of the features on the Free plan to decide if you would like to upgrade before doing so. You can manually import bank statements for your savings account, please see: How to import a statement file

Tommy

4 weeks ago

Thanks Tommy, sounds a plan :)

4 weeks ago

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