#Which bills to pay off first how to#
#Which bills to pay off first manual#

Regardless of which way you enter the bank transaction manually, a record will appear in your Audit Trail report. Select ‘Create and Finish’ at the bottom of the screen to complete the process. Select ‘Bill Payment’ from the ‘Type’ drop-down menu, enter the date and the amount of the payment and select the relevant bill from the ‘Bill’ drop-down menu. Navigate to the ‘More’ button and select ‘Add Transaction’ from the drop-down menu in the top-right.

#Which bills to pay off first manual#

Choose which date you want the manual payment to be recorded in your accounts from the ‘Dated On’ field and select 'Create and Finish' at the bottom of the screen to complete the process.Īdding a manual bank transaction in the ‘Banking’ areaĪlternatively, you can add a bank transaction manually to any of your bank accounts in FreeAgent. This will bring up a screen where you can enter a manual payment to pay this bill from your primary bank account, with the compulsory fields filled in for you. Once you pay off the credit card with the highest interest rate, move on to the card with the next highest interest rate. Then, pay off the credit card with the highest interest rate first by making high lump sum payments to that card each month. Select the reference number of the relevant bill. Make a list of your credit cards, ranking them in order from highest to lowest interest rate. Navigate to the 'Bills' tab at the top of the screen. Therefore, if you’ve not paid this bill from your primary bank account, don't use this option. Please note that this will add a manual bank transaction in your primary bank account in FreeAgent. If you don’t have a bank feed enabled and you're not uploading bank statements, you can either add a bank transaction manually to the bill or in the ‘ Banking’ area of your FreeAgent account. Select ‘Explain Transaction’ to complete the process.Ī record of the bank transaction being explained will appear in your Audit Trail report. Please note that ‘Bill Payment’ will only appear as an option if you have a bill which is open or overdue. Select ‘Bill Payment’ from the ‘Type’ drop-down menu and select the relevant bill from the ‘Bill’ drop-down menu. Select the transaction that relates to the supplier payment. Navigate to the 'Banking' tab at the top of the screen and select 'Bank Accounts' from the drop down menu.Ĭhoose the relevant bank account from the list. Once the relevant bank transaction for the supplier payment has been imported into your FreeAgent account via a bank feed or uploaded from a bank statement, you’ll need to explain it using the appropriate ‘Type’ and ‘Category’ as detailed below.

#Which bills to pay off first how to#

If you’ve paid off more than one bill in a single payment, find out how to pay off multiple bills with one payment.

Types of bills you should make at least the minimum monthly payment on include: Mortgages and rent. To mark a bill as paid, you can either explain a bank transaction or enter a bank transaction manually. Before deciding which debts to pay off, make sure you can first pay for necessities like housing, food and transportation, as well as any dues you are legally obligated to pay, like child support or taxes. This article explains how to record a payment that you've made to a supplier against a bill that you've added in FreeAgent.