FreeAgent is accounting software that can help you track your business’s cash flow. When a company is bogged down by endless paperwork, it often inhibits growth. This is especially the case for smaller businesses, who don’t have extra employees to tackle the additional accounting and administrative workflow. This software was designed to help free up your time so that you can focus on more important parts of your business.
Who Uses FreeAgent?
Small companies, startups, sole traders, freelancers, and other singularly owned businesses use the FreeAgent software to maximize efficiency.
- Dashboard: The software provides you with snapshots of your business in a central location. The FreeAgent dashboard gives you updates concerning cash flow, invoice and tax timelines, as well as profit and loss statements. Having all this information in one location allows you to make educated decisions quickly.
- Mobile: Users can connect to the software in the office, or on the go with the mobile app. This helps keep your business goals and tasks on track no matter where you are.
- Security: FreeAgent keeps your personal information and financial data safe, with multiple layers of security.
- Estimates: Create a professional estimate easily with the software’s built-in templates. All you’ll have to do is attach your logo, and plug in the necessary information. Then you’re ready to send it off to potential clients.
- Time tracking: A built-in stopwatch and manual time entries ensure that users track every billable minute.
- Invoicing: The software comes equipped with Her Majesty’s revenue and customs (HMRC)-compliant templates to bill clients. You’ll no longer have to struggle remembering the legal requirements needed to make invoices valid.
- Payroll: Businesses can run their monthly payroll through FreeAgent. You can also file PAYE and NI to HMRC in real-time.
- Banking: Syncing with bank feeds allows for the import of all business transactions, which lets users search for any transaction by category, amount, or description.
- Expenses: Users can track all of their company's costs, either at the office, via a web browser, or through the mobile app. You can even snap and upload receipts directly on the app.
- Project management: The FreeAgent project management module includes features for monitoring and managing project income, expenses, and profitability.
- Accounting: This dashboard generates profit and Loss, balance sheets, and financial reports. You can grant users access to view and print dividend vouchers. It also provides support to accountants for journal entries, and offers a comprehensive overview of transactions for all accounts.
- Self-Assessment: This option takes the headache out of tax preparation. This feature allows users to complete their tax returns online, and FreeAgent software can auto-populate most of the information needed to file. Reminders can be set within the program to keep important dates and transactions visible, in order to be handled appropriately.
- VAT: Submit VAT directly to HMRC online. Reverse charges, and handle VAT deregistration from one screen. Support for invoice and cash basis returns are handled within this feature as well.
FreeAgent software has three plans available at different price points: Sole Trader, Partnership/LLP, and Limited Company. The Sole Trader provides features such as self-assessment filing. The Partnership/LLP plan offers profit share calculations, while the more inclusive Limited Company edition offers self-assessment filing alongside dividend vouchers and corporate tax forecasts. There are free trials available for all three tiers. For more information regarding their software and prices, you can contact them via their website.
If you are looking for a comprehensive accounting software solution for your small business, AgentFree should suit all of your needs from invoicing to payroll.