FreeAgent review
Founded in 2007, FreeAgent has quickly built a reputation as a leading provider of accountancy software (SaaS) to help small businesses. The software firm has helped over 100,000 small businesses manage their finances, and they are partnered with plenty of accountants around the UK. Their headquarters is in the beautiful Edinburgh, Scotland.
In 2016, FreeAgent Holdings plc was welcomed to AIM by the London Stock Exchange.
In 2018, FreeAgent was acquired by the NatWest Group (formerly TBS) – a testament to how far this business has come in such a short space of time.
Award-winning accountancy software
FreeAgent is no stranger to winning awards for its accountancy software. On the 3rd December 2020, they announced on their website that they had won three Accounting Excellence awards:
- Best Small Business Accounting Software – 2020
- Best Small Business Accounting Software: Practitioners’ – 2020
- Best Data & Expense Management Software (FreeAgent mobile app) – 2020
FreeAgent’s CEO Ed Molyneux expressed his delight at winning the trio of awards and said:
“During such a demanding year, we’re proud to have been able to support our accounting and bookkeeper partners and small business users and look forward to working with them in 2021.”
Congratulations to the FreeAgent team on their hattrick.
What does FreeAgent offer?
FreeAgent’s offering is broad, and is sure to help most business owners with everything they need to properly take care of their business’ finances. If you’re considering using FreeAgent, we really recommend you check out their website for the full picture of their offerings. But to help you out, we’ve summarised the key features below – we hope you find this useful.
Tailored packages
There are packages for limited companies, partnerships and sole traders.
Dashboard
A simple to understand overview of your business’s finances – available as soon as you login to your FreeAgent account.
Live banking
View your live banking information directly on the FreeAgent app or portal (if accessed via a web browser).
Templates
FreeAgent has a load of pre-designed templates that you can use for your official business documentation – such as invoices, purchases, estimates, etc. These are really awesome – and will help your business look professional in the eyes of your clients. Using these templates will also save you a load of time too.
Expenses
Tracking expenses can be a nightmare because receipts are so easy to lose. Not with FreeAgent. There is a section of the software platform dedicated to expenses and this allows you to add expenses easily, and monitor what expenses you’ve uploaded in the past. This makes it easy to understand what tax you’re allowed back at the end of the tax year. You can simply photograph receipts and they’ll be stored on your FreeAgent – available when you need them.
Live diary to help you understand what you’re working on, and when
Enter the hours you work on each project so that you know how long it’s taken you. This is really handy to help you determine whether you priced a job correctly.
Self-assessment tax returns are easy with FreeAgent
FreeAgent allows you to gather all the information you need to submit an accurate personal tax return.
Understanding what you owe
Easy to use interfaces for VAT and corporation tax means that it’s easy to keep on top of the more complicated things associated with running a small business. FreeAgent will help you get accurate information to HMRC – and on time!
