FreeAgent was designed for small businesses and startups. however, the lack of payroll or a payroll integration may put FreeAgent out of the running for larger businesses.
FreeAgent offers the usual basic accounting features, project management, inventory, time tracking, international invoicing, and more.
The monthly subscription gives you access to unlimited users with no limits on features. The user interface is easy to use and the main dashboard is easy to navigate. Strong VAT support makes this ideal for UK business owners.
FreeAgent is a great accounting option, particularly for UK businesses.
Overview of Freeagent
FreeAgent has a good range of invoice templates. Each template can be customized. You can easily brand the templates.
You can easily create and send invoices. Converting estimates to invoices takes a second, and you can filter estimates by approved, rejected, or sent.
Contacts and vendors can easily be added to Freeagent in the content management section. Save basic contact details, tax settings, sales tax registration, and custom notes.
Contacts are laid out as an address book, and each contact is automatically marked as a customer when you send them an invoice or a supplier when you create a bill.
When you click on a contact, you can view their full history, including how much outstanding invoices, estimates, projects, or payments made. Additionally, you can send statements to customers as well.
Tracking expenses is easy. You can attach expenses to projects and invoice clients.
The inventory feature is called Price List & Stock. The Price List is your essentially your main items, and the Stock portion tracks inventory.
The platform supports a basic set of project management features. Create a project, add tasks, bill rates, start and end dates, and notes. You can attach expenses and bill time to projects and easily invoice costs to customers. FreeAgent also shows you your overall project profitability.
You can easily track both billable and unbillable time using FreeAgent’s built-in timer, or you can add hours manually. You can create daily or weekly time slips and attach them to projects.
FreeAgent has nine reports, but they do cover the main accounting requirements.
In terms of sales tax, you can create multiple sales tax rates and create sales tax reports with FreeAgent.
Other features include Mileage Deductions, Multiple Currencies, Importing & Exporting.
Key features of Freeagent
- Send estimates as well as proposals
- Beautiful invoice templates
- Customize invoices
- Send recurring Invoices
- Automated bank feeds
- Give profit and loss statements
- Do time tracking
- Expense tracking and management
- Timesheet reporting
- PayPal, Stripe, GoCardless Integrations
- Customizable sales tax rates options
- Multi-currency invoicing
- Balance sheet
- Tax timeline
- Sales tax reports
- Configure sales taxes
- Mobile app for Android devices
- Multi-language support
- Save or email invoices as PDF
- Give your accountant access
- Easy invoicing
- Expense management
FreeAgent demystifies accounting and will redefine your relationship with your finances.