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FreeAgent

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What is FreeAgent and how does it work? FreeAgent is a powerful accounting software; moreover, it is the in-demand package for all small businesses as well as big ones. With FreeAgent, the business owner feels natural with receipts, payments, tasks, and deals. It helps you make efficient cooperative decisions with adequate insights and accounting reports. Trusting FreeAgent, you can link your bank details to the main account and send invoices and payment reminders routinely and clear your bills faster. You can also record expenses and mileage and the Admin To-Do List groups all necessary work and duties together. In addition to it, it also keeps a check on your cash incomings and outgoings. It not only saves time and helps you work effectively; it also shoots your business’ growth. It also has a feature of self-assessment of taxes and VAT filing. From corporate taxes to year-end filings, you can be assured about all your data works and proceedings. Their plans start at 14.50 Euros a month to 145 Euros. As the cherry on top, they also offer a free plan for their new customers to try their exclusive features.

FOLLOWERS 10,105 15,174 16,376 1,548 2,630

FreeAgent Awards

FreeAgent Features Show All Features

Accounting Features

Tax ManagementThe aim of tax management is to ensure that the provisions of the Income Tax Act and related laws are followed. Through the tax management function of various tools, you can handle local and foreign tax rates.
Spend ManagementThe end-to-end management of an organization's spend is referred to as spend management. Spend analysis, spend categorization/classification, spend data management, and spend performance management are all covered. Spend management is a continuous and ongoing mechanism that aims to improve a company's bottom line by managing and maximizing its spending.
PurchasingProcurement or purchasing is the act of obtaining goods, supplies, and/or services. Therefore, project procurement is obtaining all of the materials and services required for the project.
Project AccountingProject accounting is a type of managerial accounting oriented toward the goals of project management and delivery. It involves tracking, reporting, and analyzing financial results and implications, and sometimes the creation of financial reports designed to track the financial progress of projects; the information generated by this analysis is used to aid project management. While project accounting was traditionally used for large construction, engineering, and government projects, it has now expanded into several other sectors. It is commonly used by government contractors, where the ability to account for costs by contract can be a requirement for interim payments. A specialized form of project accounting, production accounting, is used by production studios to track an individual movie or television episode's costs.
PayrollPayroll is defined as the process of paying salary to a company’s employees. It starts with preparing a list of employees to be paid and ends with recording those expenses. It’s a tangled process that needs different teams such as payroll, HR and finance to work together. But, businesses can manage all the complexities effortlessly by choosing modern technology. Simply put, the process involves arriving at what is due to the employees for a particular payroll cycle after adjusting the necessary deductions like TDS, employees’ PF contribution, meal coupons, etc. A payroll cycle is the time gap between two salary disbursements. Businesses can opt to pay salaries on a weekly, bi-weekly, or monthly basis. Generally, it is processed every month in India.
Multi-CurrencyMulti-currency means using more than one currency (such as Canadian currency and American currency) in a multi currency bank account.
General LedgerA general ledger represents the record-keeping system for a company's financial data with debit and credit account records validated by a trial balance. The general ledger provides a record of each financial transaction that takes place during the life of an operating company.
Fixed Asset ManagementFixed asset management is the process of tracking and maintaining an organization’s physical assets and equipment. Asset types include vehicles, computers, furniture and machinery. Fixed asset management enables organizations to monitor equipment and vehicles, assess their condition, and keep them in good working order. In this way, they minimize lost inventory, equipment failures and downtime — and improve an asset’s lifetime value. Fixed assets such as servers, transport trucks and elevators require a large capital investment. They may comprise a large portion of a company’s net worth. In some businesses, as much as 40 percent of investment goes to buying equipment and vehicles. The better and more effectively a company manages its assets, the greater the prospect of maximizing value from these investments.
Expense TrackingBeing able to manage and track expenses is what keeps the project within a budget. Expense tracking means to track the expense that each project has.
CPA FirmsA Certified Public Accountant Firm (CPA firm) is simply a firm that is licensed in the state in which they operate and owned, at least in part by a Certified Public Accountant. CPA firms are comprised of auditors who conduct both public and private audit engagements. Apart from the auditors CPA firm usually consists of people at various levels in their accounting career. Hence, CPA firm consist of staff accountants and seasoned accountants who are experienced in all aspects of accounting. Most CPA firms, are auditing firms and seldom provide tax and accounting for the general public. While remaining CPA firms provide only tax and accounting services.
CollectionsCollections is a term used by a business when referring to money owed to that business by a customer. When a customer does not pay the business within the terms specified, the amount of the bill becomes past due and is sometimes submitted to a collection agency. When a business sells a product or service to a customer, payment is expected either at the time of the transaction or within a defined period of time such as 30 days. Unfortunately, some customers do not pay the business within those set terms and, at this point, the account can be considered in collections.
Cash ManagementThe method of gathering and handling cash flows is known as cash management. Individuals and businesses alike benefit from good cash management. It is an important part of a company's financial stability in business.
Billing and InvoicingBilling and invoicing feature allows you to bill project services directly to customers, employees and external service providers. Invoices can be created based on milestones, partial payments and final payments as well as at cost (time and material). Timesheets required in many industry sectors are generated by the system.
Bank ReconciliationA bank reconciliation statement is a summary of banking and business activity that reconciles an entity’s bank account with its financial records. The statement outlines the deposits, withdrawals, and other activities affecting a bank account for a specific period. A bank reconciliation statement is a useful financial internal control tool used to thwart fraud.
Accounts ReceivableAccounts receivable refers to the outstanding invoices a company has or the money clients owe the company. The phrase refers to accounts a business has the right to receive because it has delivered a product or service. Accounts receivable, or receivables represent a line of credit extended by a company and normally have terms that require payments due within a relatively short time period. It typically ranges from a few days to a fiscal or calendar year. Companies record accounts receivable as assets on their balance sheets since there is a legal obligation for the customer to pay the debt. Furthermore, accounts receivable are current assets, meaning the account balance is due from the debtor in one year or less.
Accounts PayableAccounts payable include all of the company's short-term debts or obligations. For example, if a restaurant owes money to a food or beverage company, those items are part of the inventory, and thus part of its trade payables.
Revenue RecognitionRevenue recognition is a generally accepted accounting principle (GAAP) that identifies the specific conditions in which revenue is recognized and determines how to account for it. The revenue recognition principle, a feature of accrual accounting, requires that revenues are recognized on the income statement in the period when realized and earned—not necessarily when cash is received. Having a standard revenue recognition guideline helps to ensure that an apples-to-apples comparison can be made between companies when reviewing line items on the income statement. Revenue recognition principles within a company should remain constant over time as well, so historical financials can be analyzed and reviewed for seasonal trends or inconsistencies.

FreeAgent Technical details

Support	Business Hours Online	Customer Type	Freelancers Small Business
API		Location / Phone Number	Edinburgh, Scotland
Deployment	SaaS/Web/Cloud Mobile - Android Mobile - iOS	Official Website	https://www.freeagent.com/
Deployment	SaaS/Web/Cloud Mobile - Android Mobile - iOS	Category	Accounting Software

FreeAgent Pricing

Pricing ModelFree Trial , Subscription

Limited Company

Monthly

£14.50 month + VAT For your first six months.
£29.00 month + VAT After your first six months.

Annual SAVE 45%

£145 year + VAT For your first 12 months.
£290 year + VAT After your first 12 months.

Free

Features:

Dashboard
Business Insights with Radar
Estimates
Invoicing
Expenses
Projects
Time Tracking
Payroll
Banking
VAT filing
Self Assessment
End of Year filing

Partnership/LLP

Monthly

£12 month + VAT For your first six months.
£24 month + VAT After your first six months.

Annual SAVE 45%

£120 year + VAT For your first 12 months.
£240 year + VAT After your first 12 months.

Free

Features:

Dashboard
Business Insights with Radar
Estimates
Invoicing
Expenses
Projects
Time Tracking
Payroll
Banking
VAT filing

Sole Trader

Monthly

£9.50 month + VAT For your first six months.
£19 month + VAT After your first six months.

Annual SAVE 45%

£95 year + VAT For your first 12 months.
£190 year + VAT After your first 12 months.

Free

Features:

Dashboard
Business Insights with Radar
Estimates
Invoicing
Expenses
Projects
Time Tracking
Payroll
Banking
VAT filing
Self Assessment

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Disclaimer: The pricing details were last updated on 01/11/2021 from the vendor website and may be different from actual. Please confirm with the vendor website before purchasing.

Learn more about FreeAgent pricing.

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FreeAgent Reviews

OVERALL RATING 4.4 Based on 86 Rating(s)

Rating Distribution

Excellent 62.2 %
Very Good 22.2 %
Average 11.1 %
Poor 2.2 %
Terrible 2.2 %

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Videos on FreeAgent

An introduction to FreeAgent

Why small business owners love FreeAgent

FreeAgent FAQs

Q. What is FreeAgent used for?

FreeAgent is Accounting Software. FreeAgent offers the following functionalities:

Tax Management
Spend Management
Purchasing
Project Accounting
Payroll
Multi-Currency
General Ledger
Fixed Asset Management
Expense Tracking
CPA Firms
Collections
Cash Management
Billing and Invoicing
Bank Reconciliation
Accounts Receivable
Accounts Payable

Learn more about FreeAgent features.

Q. What are the top alternatives for FreeAgent?

Here`s a list of the best alternatives for FreeAgent:

Q. Does FreeAgent provide API?

Yes, FreeAgent provides API.

Articles on FreeAgent

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FreeAgent Integration

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