We have a potential new client who has an online business with all payments being made by credit cards. They sell 3 products (small, medium and large) which retail for £5, £10 and £20 respectively. Each day they sell about 100 of each. The significance of this is that there are lots of invoices for the same amount e.g. £10
The day after the sale the company receives all the income as one lump sum into the bank account. The payment service provider who handles all the card payments provides a list of all transactions.
The company has been using FreeAgent but I cannot see any way for the company to carry out an efficient daily bank reconciliation. It is being done manually at the moment. I can see other threads lamenting that you cannot easily match invoices to a single receipt in FreeAgent.
The client needs the ability to match a single bank receipt to multiple raised invoices by date raised.
I am well versed in how this can be done with Xero and, say, Stripe, but am not a FreeAgent user (other than the basics). Surely this can be done in a more efficient way. I should also say, the client is not keen to switch software.