FreeAgent Accounting Software Review: Simplify Your Finances with an All-in-One Solution

FreeAgent is a highly-regarded accounting software designed to streamline financial management for small businesses, freelancers, and sole proprietors. It provides a user-friendly interface and an array of features that cater to various accounting needs, from invoicing and expense tracking to payroll and tax management.

FreeAgent Key Features and Functionalities

FreeAgent Effortless Estimates and Invoicing

FreeAgent simplifies the process of creating and managing estimates. Users can generate professional estimates quickly, track their approval status, and convert them into invoices once the work is complete. The software supports over 25 languages and currencies, with daily exchange rate updates to ensure accuracy.

Invoicing is equally straightforward. FreeAgent offers customizable templates that can be branded with your company logo. Invoices can be sent in multiple currencies and languages, with payment options including credit/debit cards, direct debit, and PayPal. Automated email reminders help chase overdue payments, and you can set up recurring invoices to save time.

FreeAgent Streamlined Expense Management

FreeAgent makes expense tracking easy with its mobile app, allowing users to snap photos of receipts and upload them directly. Expenses can be categorized, and recurring costs can be planned for, providing a clear view of your financial commitments.

Features include:

• Receipt Capture: Upload receipts via smartphone.
• Expense Categorization: Organize expenses into various categories.
• Mileage Claims: Record and claim mileage for business travel.
• Multi-Currency Support: Track expenses in different currencies.

FreeAgent Project and Time Tracking

For businesses managing multiple projects, FreeAgent offers robust tracking features. Users can monitor project profitability by analyzing income, time spent, and expenses. Projects can be budgeted with fixed or time-based parameters, and notes can be added to keep a detailed log of progress. Time-tracking tools allow you to capture billable and non-billable hours, and generate timesheet reports for clients.

Key aspects include:

• Task Management: Define and track project tasks.
• Budgeting: Set and monitor project budgets.
• Timesheet Reports: Generate and send detailed timesheets.

FreeAgent Integrated Payroll Management

FreeAgent’s payroll functionality is seamlessly integrated, including Real-Time Information (RTI) submissions to HMRC. The software handles PAYE and National Insurance calculations, generates payslips and P60s, and supports various employee benefits such as student loans and maternity pay.

Banking and Cashflow Insights

FreeAgent Automated Bank Feeds

Connecting your bank account to FreeAgent enables automatic tracking of transactions. The software syncs with your bank feeds, categorizes transactions based on past descriptions, and provides clear visuals of your account balances. Multi-currency support and easy transaction searches enhance its utility.

Cashflow Forecasting

FreeAgent offers a cashflow forecasting tool that provides a 90-day outlook on your finances. The system updates predictions automatically based on your account data and alerts you to potential cashflow issues. Custom scenarios can be created to plan for various financial situations, and the software offers actionable suggestions to address any shortfalls.

Comprehensive Accounting and Tax Filing

FreeAgent Automated Bookkeeping

FreeAgent simplifies bookkeeping by automatically generating real-time business accounts from your bank statements, invoices, and expenses. Users can create financial reports such as profit and loss statements, balance sheets, and more.

FreeAgent VAT Returns and Self Assessment

FreeAgent streamlines VAT returns by generating MTD-compatible returns and allowing direct online submissions to HMRC. It supports various VAT schemes and handles VAT deregistration and reverse charges for EU services.

For Self Assessment, FreeAgent helps calculate your tax liability and submit your tax return online. The software provides a clear breakdown of your tax obligations and helps ensure you never miss a deadline.

FreeAgent End-of-Year Filing

FreeAgent excels in end-of-year filing with functionality for filing Final Accounts and Corporation Tax returns directly to Companies House and HMRC. The software generates reports in compliance with FRS 105 for micro-entities and supports CT600 form submissions.

Customer Support and Accessibility

FreeAgent offers robust customer support through multiple channels, including email, phone, and a dedicated support center. This ensures users have access to timely assistance and guidance.

FreeAgent Special Offer:

At MoneyZoe, we love FreeAgent for its simplicity and efficiency. It has significantly saved us time and money. If you are a Sole Trader or managing a Limited Company, FreeAgent is the ideal choice for you.

Sign up using our FreeAgent discount code to receive a 10% lifetime discount on your subscription! Try it out with a 30-day free trial—no credit card required. FreeAgent Discount Code: 4ip82cra