Expert FreeAgent Accountants: Your Perfect Business Partner

What is FreeAgent software?

FreeAgent accounting software is a powerful product designed specifically for small businesses, contractors and freelancers. It is a cloud-based solution that offers a range of features to help businesses manage their finances efficiently including invoicing, VAT returns, expense tracking, and project management.

One of the key advantages of FreeAgent is its user-friendly interface, which makes it easy for users to navigate and access important features quickly. The software is designed to be intuitive, with simple workflows that help users manage their daily admin and finances effectively without any prior accounting knowledge, all from a mobile app or desktop portal.

FreeAgent also offers a range of automation features that help businesses save time and reduce the risk of errors. For example, users can set up automated reminders for overdue invoices and automatically reconcile bank transactions with accounting records. This automation helps businesses stay on top of their finances and ensures that their accounting records are up-to-date and accurate which ensures business owners stay on top of cashflow.

Another advantage of FreeAgent is its powerful reporting capabilities. The software offers a range of reports that provide valuable insights into a business’s financial performance, including profit and loss statements, balance sheets, and cash flow statements. Users can customize these reports to meet their specific needs, allowing them to make informed decisions about their finances and identify areas for improvement.

FreeAgent also offers advanced project management features that allow businesses to manage their projects effectively from start to finish. Users can create and track project timelines, set project budgets, and track project expenses, all within the same software. This integration helps businesses keep track of their project finances and ensures that they stay within budget, without incurring any extra cost.

FreeAgent integrates with many other resources

In addition to its core accounting features, FreeAgent also offers a range of add-ons that can be integrated with the software to extend its functionality. For example, users can add payment solutions, such as PayPal and Stripe, to the software to accept payments directly from invoices. FreeAgent also integrates with popular apps such as Trello, Slack, and Google Calendar, allowing businesses to streamline their workflow and save time.

Part of the advantages of this kind of software is the integrations with your bank. As part of the Natwest Group the full version of FreeAgent, seamlessly ties in to your business bank account with Natwest so all of your incomings and outgoings are automatically tracked by the software. It also integrates with other banks such as Royal Bank of Scotland and Ulster bank among others, you can see a full list of compatible banks here.

Making Tax Digital (MTD) compliant and can handle multiple currencies and multiple bank accounts

FreeAgent is very proactive in preparing for Making Tax Digital (MTD) and the product is constantly updated to ensure it remains fully compliant with MTD requirements. For those businesses registered for VAT, FreeAgent can be extremely useful in helping you to submit compliant MTD VAT returns.

One of the unique features of FreeAgent is its support for multiple currencies, making it an ideal tool for businesses that operate internationally. Users can set up multiple bank accounts and track transactions in multiple currencies, helping them to manage their finances more effectively and accurately.

A high level of support and security

Another advantage of FreeAgent is its excellent customer support. Users can access live support via email, phone, or chat, and there is a vast library of articles and tutorials available online. FreeAgent also offers free training courses and webinars, making it easy for users to learn how to use the software effectively. Additionally, FreeAgent’s UK-based support team can provide assistance in migrating from another accounting software, ensuring a smooth transition for users.

FreeAgent is known for its excellent security features, which ensure that users’ financial data is always safe and secure. The software uses bank-level encryption to protect data, and users can set up two-factor authentication for multiple layers of security. FreeAgent also offers automatic backups of financial data, ensuring that it is always safe and accessible.

Is it the right software for me?

Overall, FreeAgent is a powerful bookkeeping software that offers a range of features to help businesses manage their financial transactions efficiently. Its user-friendly interface, automation, reporting, and project management features make it an ideal tool for small businesses and freelancers. Its flexibility, support for multiple currencies, and excellent customer support make it a popular choice for businesses of all sizes. With its robust security features and cloud-based architecture, FreeAgent is a secure and accessible tool for businesses that want to simplify their accounting processes and focus on growing their business.

Sherwin Currid Accountancy are platinum partners with FreeAgent which recognises not only our depth of knowledge of the software but also the number of clients that we help that use the software. We are ideally placed to advise on whether FreeAgent is the right choice for you. Please do not hesitate to get in touch to find out more.

Accounting software for contractors

FreeAgent is one of the leading software providers for contractors and freelancers. It’s simplicity and low subscription costs mean its a great option for those businesses who record expenses infrequently or in small volumes. Sole traders and personal service companies will both benefit from online accounting software as it can help you and your accountant review your income and establish the most efficient way for you to be paid as to minimise your liability on your self assessment tax return.

At Sherwin Currid we have numerous contractors who use their FreeAgent account to undertake basic bookkeeping tasks, in fact we have so many that we include FreeAgent subscriptions in all of our contractor package offerings. This helps you provide us up to date information in real time so that we can take care of the rest of your needs.