What is FreeAgent?
FreeAgent is a UK-based online cloud accountancy software package, designed to make the whole process of bookkeeping and accounting simple for small businesses and sole traders.
FreeAgent offers three price plans which are aimed at three different business structures, making it easy to identify which package is the best one for you to go for. The cheapest option is the Sole Trader account which costs £19 a month, following a 50% reduction for the first six months, and includes a tool to make self-assessment filing a breeze. The next option up is designed for those operating in a partnership or LLP. For £24 a month, after the promotional deduction for the first six months, this account includes a feature for calculating your profit share. If you are operating as a limited company then FreeAgent’s top package comes with everything you need to forecast your corporation tax liability, file your self-assessment returns, and issue dividend vouchers to shareholders. This package is likewise discounted by 50% for the initial six months, and will then cost £29.00 a month.
Subscriptions run on a rolling basis meaning you are free to cancel at any time without incurring any charges. However, if you are happy to commit to using the software for a year and have the ability to pay upfront, you can secure 12 months of usage for the price of five for your first year.
What is a FreeAgent accountant?
Cloud based accountancy software, such as FreeAgent, undoubtedly makes the whole process of keeping on top of your bookkeeping a much easier and straightforward process. However, it should not be seen as a replacement for an accountant. An accountant can provide an expert insight into your company’s financial performance and give projections for the future. This process is made much quicker and easier for both parties if both are working from the same set of master books. Therefore if you are committed to working with FreeAgent you should try to find an accountant who is experienced in working with this software to make this a smooth process.
What does it mean to be FreeAgent certified?
FreeAgents run a Partnership Programme for accountants and finance professionals. Part of this is a training module, following completion of which FreeAgent Expert Accreditation is awarded. This accreditation demonstrates a sound level of knowledge and understanding of the software’s features and tools, as well as the ability to utilise them to the extract the most useful data possible from the information that is entered.
Benefits of using FreeAgent
- The structure of the price plans by business type makes it easy to choose the one you need without paying for unnecessary features
- Automatic tax forecasts and reminders so you never miss the submission date
- Unlimited clients, projects, and users regardless of the package you go for
- Works just as well on desktop, tablet, or mobile phone with the FreeAgent app for iOS and Android
FreeAgent vs the Rest
One of the main benefits of FreeAgent when compared to its rivals is that there are no restrictions on the amount of users, clients, or invoices. Even the lowest price package allows you to reconcile unlimited transactions from an unlimited number of clients. This is unlike many other providers such as KashFlow who impose restrictions on those paying the cheapest monthly rate.
Aimed at small businesses, those operating at the higher end of this bracket may find FreeAgent’s software too restrictive and lacking in features. If you have employees and would like to manage their payroll through your accountancy software, FreeAgent is not the one for you. Providers such as QuickBooks offer this functionality on some of their packages and so are well worth considering if these are features you will use.
Find a FreeAgent Accountant Near Me
Now you have decided whether FreeAgent is the right accountancy software for you and your business, you now need to ensure you are working with an accountant who is compatible with this choice. With decades of experience working directly with accountants, we know what makes a good one. That’s why you can trust us to connect you with a trustworthy, reliable, and, knowledgeable accountant in your local area. Contact us today and begin your search for the perfect accountant for your business.