FreeAgent
A cloud accounting software for small businesses and startups in the UK with a focus on MTD compliance and tax management.
Product Overview
FreeAgent is a cloud-based accounting software designed primarily for small businesses, freelancers, and entrepreneurs. It provides invoicing, expense management, project management, and sales tax management. The software is particularly beneficial for managing taxes, as it supports Making Tax Digital (MTD) compliance and allows for the direct submission of VAT and self-assessment tax returns to HMRC.
FreeAgent is free for certain business account holders and a free 30-day trial is available.
Pros
- Free for NatWest, Royal Bank of Scotland, and Ulster Bank business customers
- Unlimited users, clients, and projects
- Allows direct HMRC submissions
- Sales tax reporting and multi-currency invoicing
Cons
- Limited customer support hours for businesses outside the UK
- Some features are UK-specific
- No integrations with outside tools
Target Market
Small businesses and freelancers, especially those looking for an easy-to-use software to manage their finances and taxes efficiently. It is also ideal for NatWest, Royal Bank of Scotland, and Ulster Bank business account holders, who can access the software for free.Not Recommended For
Businesses operating outside the UK, as some functionalities are UK-specific.About FreeAgent
Video Overview
Features
- Estimates: Create professional estimates with your company logo. Send your estimates to clients via email and monitor their approval or rejection. Easily convert your estimate into an invoice if accepted. Create estimates in multiple currencies and languages.
- Invoices: Make online payments via credit/debit card, ACH payments, or PayPal. Organize who owes what from your Invoice Timeline.
- Expenses: Take pictures of your receipts with your phone or mobile device and save directly to FreeAgent. Track employee expenses to monitor their running balance for reimbursement.
- Time Tracking: Enter timeslips and record the minutes worked for appropriate billing. Generate an invoice for unbilled time and send it to a client easily. Timesheet reports let you see where your time is being spent across your active projects.
- Dashboard: Cash flow reports and invoice timeline lets you monitor your active profit and loss.
- Banking: Automatically import your transactions and make sense of money going in and money going out.
- Projects: Get an overall view of each active project to monitor income, expenses, tasks, status, and more.
Pricing
Plans start at $37 USD per month (£29/month), although new users can get 50% for the first six months. A free version is available for business account holders with NatWest, Royal Bank of Scotland, and Ulster Bank. Users with a Mettle bank account can also qualify for the free plan by making one transaction per month. A free 30-day trial is available for all users.
Product Overview
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