Since becoming a certified FreeAgent partner (which basically means FreeAgent have tested us and agreed that we know how to use the software like a pro). We’ve decided to do a little independent review project here. We are so glad to see some stonking good accounting software become available to the everyman (especially with Making Tax Digital looming on the horizon). Generally speaking, they are all so much more straightforward to use and a lot more powerful than their stuffy predecessors. But with a lot of choice comes, well, a lot of choice. Stay with us while we talk about our experience with FreeAgent and see if it might be the right fit for your operations. We’re not the first people to do this, and if you’re interested to see FreeAgent’s own comparison to the competition, you might find this page interesting.
FreeAgent: Highlights
Just like that low-drama work colleague, we’ve personally found FreeAgent to be friendly, responsive, and very easy to get on with. It’s actually a UK-based accounting software (Edinburgh) that was created way back in 2007 by three forward-thinking freelancers who were frustrated by the fussy accounting systems and overcomplicated record-keeping of existing programs. This history really shines through to their focus today. Small businesses, freelancers and contractors are clearly the main characters in FreeAgent’s world. Here are a few of the highlights we’ve noticed:
- User-friendly interface: No over-technical jargon or head-scratchingly difficult navigation here. Right from the start you’ll find the layout clean and intuitive; even the newest of noobs can find their way around.
- Automation: It’s impossible not to love this about modern accounting software. Things like bank feeds, recurring invoices and transfers can easily be set up to occur automatically. Yes, please, thank you.
- MTD compliant: Making tax digital is a big deal, and in order to file your taxes, you will need to be using an approved UK accounting software.
- Bank integration: This really is a bookkeeping hero. Simply connect your bank account to the software, and you’ll be rewarded with real-time transaction imports.
- Free usage for some: Some banks offer free access to FreeAgent (NatWest, RBS, Ulster Bank NI, Mettle) if you have an account with them.
FreeAgent: Lowlights
Nothing in this world is perfect, and despite being brilliant, FreeAgent does have one distinct quirk: Limited scalability: Larger businesses may feel a little frustrated at the lack of advanced features or integrations needed for complex organisations; we’ve had at least one client who’s needed to switch to a different system to better support their growth.
Accounting and bookkeeping tips to get the best out of FreeAgent
Here are a few things you should put to use straight away after you have signed up to FreeAgent:
- Set up automatic bank feeds. This is the best thing since the pocket calculator! Once you’ve connected your bank account to the software, you’ll be rewarded with automatic transaction imports. Win back time and be more accurate.
- Make use of the Tax Timeline feature: a very nice little tool that gives you a live projection of upcoming tax payments and filing deadlines. No more nasty tax surprises.
- Integrate the “Invoicing Tools”. This feature allows you to create professional digital invoices which can be accompanied by automated payment reminders. Another depressing job taken off your hands.
- Explore the Training Resources. FreeAgent has a wealth of how-to instructions and mini-courses which are so helpful if you’re new to accounting and bookkeeping software. Easy to follow and easy to implement.
If you’ve decided that FreeAgent is the software you need in your life but feel uninspired with the messy process of transitioning from your current system (or lack of one) to the new one, why not get in touch? We’re pretty friendly with the FreeAgent platform, and we haven’t met a sticky project we couldn’t make quick work of. WhatsApp us here for a no-obligation chat.
