0800 140 4644
There are lots of cloud-based accounting software solutions out there. They can be a key tool to help individuals and Small and Medium sized-enterprises (‘SMEs’) get better information to make the right decisions for their future anywhere they can find a wi-fi connection. This better information can also be available more efficiently at your fingertips. Making Tax Digital is making it compulsory for some to use such solutions and as this rolls out, more individuals and businesses will have to take them up.
Here we focus on the 10 reasons we love FreeAgent, a key HMRC approved software which we at Black and White Accounting are partners of. We’d love to hear your feedback and thoughts.
These are the top 10 reasons we LOVE FreeAgent, although we could have added a lot more…
1. Simple and User-friendly
Our team understands being a small business owner comes with challenges unique to the size and function of the business. As the owner you have to handle the works – from selling, marketing, financing to managing and growing the business. Being stretched in all directions leaves little time to be spent poring over accounting software to understand the nitty gritty details. That is why we believe FreeAgent is a great tool. It’s easy to use and the best part is you need little – if any – accounting knowledge to navigate the software. Some of the software solutions on the market are just too complicated for simple businesses, which is why FreeAgent can be a great solution.
FreeAgent is the total package for small businesses such as freelancers, contractors and consultants. From admin tasks such as to-do lists to submitting vat/tax returns. You can do everything in one place. Simple and efficient.
2. Great value for money
3. Overview of your business’ finances
As soon as you log in to your FreeAgent account you have a clear summary of your business account balances, Cashflow for the year, Invoice timeline and any recent expenses/bills. No messy spreadsheets or confusing accounting jargon. Just a simple, easy-to-read overview.
4. Get a clear view of project profitability
Scribbling your to-do lists and notes on Post-its and scraps of papers? It is so easy to lose them, right? That’s a thing of the past with FreeAgent. You can manage complex projects with ease – build to-do lists for your projects and then track your time against each task. Recording all project income, time and expenses in one place allows you to manage and have a clear view of project profitability.
5. Access your business records from anywhere, at anytime
You can take care of business wherever you are with FreeAgent’s mobile accounting app that is available on iOS and Android. The mobile app has handy features such as Capture for later, tracking time on the go (for important meetings), tracking mileage whilst on the road and creating, sending and managing invoices, as well as many more. Managing your finances has never been easier, where you have wi-fi you can know exactly how your business is performing.
6. Bank feeds allow efficient and accurate data-entry
FreeAgent has various different features which allow you to automate data-entry. By setting up a bank feed, you can import transactions through daily. This allows our team to keep up to date with your banking without having to chase you for statements.
FreeAgent also has a Guess feature which attempts to automatically explain your bank transactions. Guess has been enhanced with machine learning algorithms which can automatically categorise new transactions. This enables us to spend less time on explaining transactions and more time on saving you money!
7. ‘Capture for Later’ feature makes recording expenses a whole lot easier!
So picture this … you popped out to grab a coffee yesterday with a potential client. Accidentally paid with your personal card instead of your business card. But not to worry, you can claim that back as a business expense. Just remember to hold on to your receipt. Oh wait. Now where has that receipt disappeared to? Ah, probably crumpled and soggy … in the washing machine.
Next time, use the ‘Capture for Later’ feature on the FreeAgent mobile app. You can capture and store receipt images on the go so that all of your out-of-pocket expenses are safe and sound in one place. No need to panic the next time you misplace a receipt!
8. Create and Send Invoices with ease
Invoicing from within FreeAgent enables you to have full visibility of when invoices were raised and sent. There are templates provided that can be tailored to your needs and customised to your business. The best part of all is you can set up recurring invoices, automatic reminders emails, automatic thank you emails for paid invoices and even create invoices in a foreign language.
9. FreeAgent Support has your back!
There is nothing worse than finally getting down to work on your records and hitting a snag. Then spending what seems like hours trying to fix the issue! We understand that time is precious – especially when you have a business to run. The great thing with FreeAgent is there are numerous ways to get in touch with their Support Team. The primary way being via email. However, they also have a Knowledgebase which has a plethora of in depth how-to articles, getting started guides, FAQs and webinars. There is also a community forum where you can ask questions, make feature requests and view FreeAgent announcements. If you are one of our clients you will also get our teams expertise to ensure you get the most out of your investment in FreeAgent, we are always on hand to support you.
10. Award- winning software
Don’t just take our word for it. Read the reviews. And if that is not enough, then know that FreeAgent has won the following awards, to name but a few:
- Winner of the 2020 Accounting Excellence Awards, Best Small Business Accounting Software;
- Winner of the 2020 Accounting Excellence Awards, Best Small Business Accounting Software: Practitioners’ Choice; and
- Winner of the 2020 Accounting Excellence Awards, Best Data & Expense Management Software.
We could go on. We didn’t even have chance to mention the great integrations it offers with other applications, making it even more powerful for your SME.
Black and White Accounting
We LOVE FreeAgent, it is a great solution for small businesses such as freelancers, contractors and consultants, especially as Making Tax Digital unfolds. This is why we are partners of it. If you are interested in hearing more, if you want to setup accounting software on your business for the first time, or if want to change your current accounting software provider to FreeAgent, get in touch with us today by contacting Black and White Chartered Certified Accountants, populate the “Got a Question” form on the right, or call us on 0800 140 4644.
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