Overview
What is FreeAgent?
FreeAgent is an cloud-based accounting system designed for small businesses and freelancers. FreeAgent supports many core accounting features and bank reconciliation, payroll, tax management, project level accounting, and multiple currency support. It is mobile-accessible, and integrates with many apps.
TrustRadius Insights
FreeAgent - Brilliant for helping me run my buisness
Amazing product
Awesome accounting software for awesome people!
FreeAgent is for consultants who just want to do their job!
Love FreeAgent and the helpful FreeAgent team!!
FreeAgent - my Finance Director!
Free Agent is ace for UK freelancers
Free your Accounting Time with FreeAgent
Great Invoicing and project time management tool
FreeAgent - I would recommend it to anyone
fantastic software
FreeAgent - accounting made simple
Fantastic freeagent
FreeAgent is awesome
Popular Features
- Dashboards (19)9.090%
- Standard reports (19)9.090%
- Expense management (22)8.080%
- Accounts receivable (20)8.080%
Reviewer Pros & Cons
Pricing
What is FreeAgent?
FreeAgent is an cloud-based accounting system designed for small businesses and freelancers. FreeAgent supports many core accounting features and bank reconciliation, payroll, tax management, project level accounting, and multiple currency support. It is mobile-accessible, and integrates with many…
Entry-level set up fee?
- No setup fee
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
Would you like us to let the vendor know that you want pricing?
7 people also want pricing
Alternatives Pricing
What is FreshBooks?
FreshBooks is an accounting service for small businesses. The solution enables users to send and manage invoices, track billable time and collect online payments. The vendor’s value proposition this that their solution provides a straightforward service that simplifies the billing process.
What is Xero?
Xero is an online accounting software product for small businesses and personal finance. Its features beyond general ledger and double-bookkeeping include quotable invoicing, bank reconciliation, purchase order and expense management, and tax management. Third party apps can extend its features…
Product Demos
Tony from FreeAgent will be giving us a live demo of FreeAgent Software (episode 8 Tech November)
FreeAgent - Expenses Demo
FreeAgent Client Demo
2 Minute Demo FreeAgent via Iris OpenBooks
How To File Your Expenses Demo With FreeAgent
Iris OpenBooks FreeAgent Demo
Features
Payroll Management
Provides for pay calculation and benefit plan administration, in addition to managing direct deposit, salary revisions and payroll tracking.
- 8Pay calculation(12) Ratings
Pay calculation provides for computation of employee pay with state and federal deductions.
- 8.5Benefit plan administration(6) Ratings
Benefit plan administration is administration of health insurance plans and 401k plans, and other benefits.
- 8.9Direct deposit files(2) Ratings
Direct deposit is the ability to electronically transfer pay to an employee’s personal bank account.
- 8.8Salary revision and increment management(6) Ratings
Salary revision is the ability to modify individual employee pay.
- 8.7Reimbursement management(8) Ratings
Reimbursement management provides cash reimbursement for employee expenses related to business travel or other.
Customization
This addresses a company’s ability to configure the software to fit its specific use case and workflow.
- 4.5API for custom integration(9) Ratings
An API (application programming interface) provides a standard programming interface for connecting third-party systems to the software for data creation, access, updating and/or deletion.
- 8Plug-ins(11) Ratings
A number of third-party plug-ins are available to expand the core functionality of the software.
Security
This component helps a company minimize the security risks by controlling access to the software and its data, and encouraging best practices among users.
- 9Single sign-on capability(13) Ratings
The software system supports a centralized authentication mechanism allowing the user to access multiple systems with a single, centrally managed password.
- 8Role-based user permissions(13) Ratings
Permissions to perform actions or access or modify data are assigned to roles, which are then assigned to users, reducing complexity of administration.
Reporting & Analytics
Users can report on and analyze usage, performance, ROI, and/or other metrics of success.
- 9Dashboards(19) Ratings
Users can create, customize and share dashboards, which provide an overview of the most important metrics.
- 9Standard reports(19) Ratings
The software offers pre-built reports with metrics standard to the category.
- 4.4Custom reports(10) Ratings
Users can create custom reports.
General Ledger and Configurable Accounting
Financial management solution, including capabilities for general ledger and configurable accounting
- 8Accounts payable(18) Ratings
This includes the automation and tracking of payment to vendors and suppliers, with features such as payment scheduling, check printing, open purchase order alerts, document management, direct ACH bill payment, and vendor records.
- 8Accounts receivable(20) Ratings
This includes the management and automation of invoices and collections, with features like statements, invoices, receipts, payment reminders, customer records, auto billing, and refund checks.
- 9Cash management(18) Ratings
The software provides a complete picture of a company’s cash flows, streamlines payment processing, and includes cash forecasting.
- 9Bank reconciliation(19) Ratings
The software connects to a company’s financial institutions in order to reconcile accounting records with checking, savings and credit card accounts. Often month and year closing capabilities are included.
- 8Expense management(22) Ratings
The software can log and track business expenses and reimbursements, including travel-related expenses, with the ability to tie them to particular projects.
- 9Time tracking(17) Ratings
The software can track billable and non-billable employee time by project.
- 8.6Fixed asset management(11) Ratings
This includes the ability to track fixed assets (e.g., laptops), including location, check-in and check-out, maintenance scheduling, audit history, specialized property tax period reports, cost and depreciation.
- 10Multi-currency support(8) Ratings
The software supports transactions across multiple currencies.
- 9Multi-division support(5) Ratings
The software is flexible and supports bookkeeping practices along multiple dimensions such as locations, branches or products.
- 8.7Regulations compliance(8) Ratings
The software helps users adhere to typical accounting standards and regulations such as IFRS, GASB, or GAAP.
- 10Electronic tax filing(19) Ratings
The software provides a full electronic interface for the filing of repeatable taxes, such as payroll or sales tax.
- 9Self-service portal(11) Ratings
The software provides online portals for certain stakeholders to find information relevant to them, such as employees, vendors and customers.
- 8Journals and Reconciliations(1) Ratings
Automate and synchronize ledgers and processes
Inventory Management
The ability to track and manage the flow of goods or materials into and out of an inventory.
- 7.7Inventory tracking(2) Ratings
The software syncs orders and stock to maintain a real-time picture of inventory and supports multiple methods such as LIFO and FIFO.
- 8.2Automatic reordering(1) Ratings
The software can be set up to automatically reorder a good when it falls below a certain threshold.
- 4.5Location management(1) Ratings
The software can track multiple goods across multiple locations.
- 9.1Manufacturing module(1) Ratings
The software helps track and manage raw materials, work-in-progress items, and finished goods.
Order Management
The ability to process orders, and track them from quote to cash.
- 8.1Pricing(9) Ratings
Users can set up complex and unique pricing requirements.
- 6.8Order entry(2) Ratings
Users can enter an order once, and the data flows to all the necessary units such as fulfillment and billing.
- 8.2Credit card processing(5) Ratings
The software facilitates credit card processing.
- 9.1Cost of goods sold(3) Ratings
The software calculates the direct costs attributable to a finished product, such as materials and labor, and includes roll-up pricing.
Product Details
- About
- Integrations
- Competitors
- Tech Details
- FAQs
What is FreeAgent?
FreeAgent is an online accounting software designed specifically to meet the needs of small businesses, freelancers and their accountants.
FreeAgent helps businesses take care of their day-to-day admin, from managing expenses and running fully RTI-compliant payroll to creating and sending professional-looking estimates and invoices. It also allows businesses to keep track of their cash flow and profitability, showing who owes them money - and how much!.
FreeAgent also has a personalised ‘Tax Timeline’ of upcoming deadlines and amounts due, as well as the functionality to easily file VAT, RTI payroll and - for sole traders and limited company directors - Self Assessment tax returns directly to HMRC.
The vendor boasts around 100,000 customers currently using FreeAgent to manage their business accounts, with no confusing accounting jargon and with a team of support accountants on hand to help them stay on track.
FreeAgent Features
General Ledger and Configurable Accounting Features
- Supported: Accounts payable
- Supported: Accounts receivable
- Supported: Cash management
- Supported: Bank reconciliation
- Supported: Expense management
- Supported: Time tracking
- Supported: Multi-currency support
- Supported: Electronic tax filing
Reporting & Analytics Features
- Supported: Dashboards
- Supported: Standard reports
Customization Features
- Supported: Plug-ins
FreeAgent Video
FreeAgent Integrations
- Timestamp
- Stripe Payments
- PayPal Payments Pro
- PayPal Zettle
- Capsule CRM
- IRIS CRM
- Float Cash Flow
- Basecamp
- Cyclr
- Zapier
- AccountancyManager
- goodtill
- Appointedd
- Commusoft
- Contactzilla
- Schematiq
- Satago
- Expiration Reminder
- Senta
- PieSync
- from HubSpot
- Receipt Bank
- AutoEntry
- Go Cardless
- Sellwire
- Slips
- Time Tracking Widget
- HMRC
- BTCSoftware
- Fractal
- Fabio
- RBS
- NatWest
- Open Banking
- Monzo
- Revolut
- Tide
- Starling
- esme loans
- NatWest Rapid Cash
- iwoca
- Nimbla
- Appcrual
- Assist(a)nt
- DoubleAgent
- MobileAgent
- Debtcase
- Paxan
- Cushion
FreeAgent Competitors
FreeAgent Technical Details
Operating Systems | Unspecified |
---|---|
Mobile Application | No |
Frequently Asked Questions
Comparisons
Compare with
Reviews and Ratings
(53)Community Insights
- Business Problems Solved
- Pros
- Cons
- Recommendations
FreeAgent is a versatile accounting software that has proven to be an invaluable tool for freelancers and small businesses. Users rely on FreeAgent to streamline their client account management, time billing, invoicing, and overall accounting processes. It provides everything they need for financial management, including the ability to maintain accounts, run payroll, and submit VAT returns.
One of the standout features of FreeAgent is its user-friendly dashboard that keeps users up to date with essential business needs and tax positions. Sole traders find it to be an essential tool for tasks ranging from invoicing to VAT returns. By simplifying operations such as expense management, bill tracking, mileage allocation, and payroll, FreeAgent saves users valuable time and eliminates uncertainty about proper recording methods.
The software seamlessly links to HMRC for payroll reporting and personal tax submission, making it even more convenient for users. Small limited companies choose FreeAgent for its cloud-based accessibility and reasonable pricing. Its simplicity and the availability of an iOS app make accounting and business finance management easy and enjoyable.
Users highly praise the exceptional customer support provided by FreeAgent. They appreciate the software's combination of features like automatic chasing of invoices, bank account syncing, payroll management, time tracking, and easy expense management. With its self-assessment function and ability to manage and monitor a business's financial state efficiently, FreeAgent simplifies tax filing.
Additionally, FreeAgent offers valuable financial insights that reduce the need for accountants to chase for information. It is used across various business functions such as invoicing, bank account management, payroll processing, and estimates. Staff members use FreeAgent to track time, bills, and expenses on client projects.
FreeAgent not only streamlines accounting and invoicing duties but also frees up time to focus on other aspects of running a business. It is straightforward and simple to use for managing company accounts. Users find its payroll function highly praised for its ease of use as it links directly to HMRC for RTI.
Overall, FreeAgent is a hassle-free and cost-effective solution for managing accounts, making it an indispensable tool for freelancers, sole traders, and small businesses alike.
User-friendly Interface: Several users have praised the software for its easy-to-use and understand interface. They appreciate how straightforward it is to navigate through the different features and functionalities.
Efficient Invoicing: Many reviewers have found the invoicing feature of the software to be efficient and user-friendly. They highlight features such as automatic reminders for non-payment and clear visibility of account status for clients, which help streamline the invoicing process.
Time Tracking and Billing: A significant number of users have commended the time tracking and billing capabilities of the software. They find it helpful for accurately recording time spent on projects or client work, allowing them to invoice clients accordingly.
Cons:
- Limited functionality of smartphone app: Several users have found the newly introduced smartphone app to be quite restricting, suggesting that having a mobile responsive website would eliminate these restrictions and provide better accessibility.
- Lack of advanced features in reporting: Some users feel that the reporting on financials, time tracking, and project status is lacking in advanced features, limiting their ability to analyze data effectively and make informed decisions.
- Difficulty in linking bank transactions with expenses: A few users have mentioned occasional difficulties in linking bank transactions with expenses but appreciate the fast response from the support staff in resolving such issues, ensuring accurate accounting records.
Users highly recommend Free Agent as a tool that is easy to use and worth trying out. They mention the benefits of the free trial in their recommendations. Users also suggest that it is worthwhile to pay for the monthly plan due to the numerous advantages it offers. Small businesses and freelancers are specifically recommended to utilize Free Agent for their accounting needs. Additionally, users appreciate the intuitive interface, reliable customer support, and comprehensive features that Free Agent provides.
Attribute Ratings
Reviews
(1-18 of 18)- Bank feed
- Auto categorisation of bank transactions
- Produces accounts and tax returns
- Multiple clients on one page
- Unusual transactions can be tricky to categorise
- Non-allowable capital allowances require quite a workaround
- Trial balance could be more flexible, especially balance sheet
FreeAgent - Brilliant for helping me run my buisness
- Time recording against projects
- Great overview of financial position of business
- Automatic creation of dividend vouchers
- More links to third-party software needed
Amazing product
- Ease of use.
- Bank feed.
- Amazingly quick support.
- More developed apps.
- Comparison of year on year results from within programme.
Awesome accounting software for awesome people!
- Producing estimates/proposals and allowing you to easily convert them into invoices and then follow it all through to payment.
- Keeping tabs of all my expenses and payments.
- Producing the necessary documentation for VAT returns and Self Assesements.
- I am looking forward to the Android app being launched.
- Being able to produce more in depth proposals which aren't just itemised accounts would be great.
- Payroll
- Vat and PAYE payment reminders
- Time tracking
- At a glance dashboard
- Expenses
- Self Assessment!!
- Year end payroll reports
- Better iPhone App (it's very new so hopefully will improve soon)
- ability to add other company details to self assessment
Love FreeAgent and the helpful FreeAgent team!!
- Invoicing is a breeze, with some very useful and user-friendly features to help manage late payers.
- Bank feeds work perfectly, making bank reconciliation incredibly easy.
- When unsure, and what makes FreeAgent stand well ahead of its competitors, is absolutely amazing support - fast, effective and just plain helpful beyond expectations.
- There's very little FreeAgent doesn't do, but if you spot something it can usually be added or there is another way - remittance advices are one area I would like to see added.
- The newly introduced smartphone app, like most other software provides in this market, is quite restricting. Having a mobile responsive website makes those restrictions disappear.
FreeAgent - my Finance Director!
- Consolidation of bank accounts. Easy to use and hassle free.
- Data feed from bank accounts. Easy to get your bank account details into the system.
- VAT returns are very easy. Just put in your details and Free agent works it all out for you and sends it to HMRC for you too.
- If your customer pays you for a number of invoices in one payment it is a bit tricky to sort out. Once you know how it is OK but I did have to use the help desk a couple of times
Free Agent is ace for UK freelancers
- Accounting! As you'd expect. Makes it much simpler andmore cost effective. In-coming and out-goings are recorded and assigned to projects and accounts. My accountant can access my books and reconcile so much more easily than trawling through spreadsheets.
- Time billing - time spent on projects/client work is recorded and is ready to be invoiced as required. Saves so much time and prevents inaccuracies.
- Invoicing - again, it should do this well and it does. Non payment reminders are automatic and clients have no excuses for not knowing the status of their account.
- Account dashboard - gives me an instant overview of the health of the business (am I on track to meet my yearly targets) and my accounts.
- When explaining bank transactions it's necessary to click the 'More Options' to add a receipt number.
- Perhaps receipt numbering could be automatic.
Free your Accounting Time with FreeAgent
- Recurring invoices with automated follow-up is fantastic for helping to get paid on time
- Automated bank transfers are the easiest way to ensure that I can reconcile my accounts with ease
- Support is fantastic
- Built-in Time tracking for projects/tasks (integration with Basecamp to get this info) is fantastic, it allows us to accurately track what we are working on and get paid for it!
- Android Mobile App, but they are working on it
fantastic software
- Very easy to raise an invoice. Even one of my staff who hates IT can do it.
- All my bank transactions are downloaded automatically. Makes checking banking very easy.
- Not really found any yet. I'm most happy so far. Any problems - their help system is amazing.
FreeAgent - accounting made simple
- Invoicing and estimates are well structured, with built-in pay walls and automatic notifications on late payments. There are also automatic reoccurring invoices, reducing our monthly work load.
- FreeAgent automatically pulls in our business bank account, allowing me to directly explain every transaction with invoices, payments, and more.
- My accounts, on the go, anywhere. With FreeAgent being web-based, it means we can view our accounts anywhere, with no worries of data-loss. This is made easier with the new iOS app.
- Client-specific email templates would be very useful.
Fantastic freeagent
- Live feed from bank accounts
- Live feed and upload of self assessment tax returns
- At a glance dashboard of outstanding invoices
- Pay As You Earn (PAYE) software
- More bespoke accounting categories based on particular industries
- Quicker updating of tax return info
FreeAgent is awesome
- Profit and loss analysis
- submitting to HMRC directly from freeagent
- Easier to find certain features
Excellent system for a small company!
- Free Agent is great for creating professional invoices. If you use the system to manage projects, the invoicing system can automatically fill out any details required. Once completed, the invoice can be automatically emailed from your email address, then stored in the free agent system.
- Setting up a bank feed or uploading invoices allows you to keep track of your bank accounts. The system automatically flags up unexplained transactions and allows you to explain and even attach receipts to particular transactions to be stored as expenses.
- Out of pocket expenses can be entered on the move via a smart phone, a photograph can be taken of the receipt and uploaded into the FreeAgent system. The banking system can then link up any pay outs to the user who is out of pocket. Creating a neat expenses system.
- The FreeAgent system is being constantly updated and improved thanks to the large team. There has maybe been a few occasions when I have tried to link a bank transaction with an expense and it hasn't allowed me to link a transaction manually. But the staff are very fast at helping out with any issues I've ever had
I work through a limited company, VAT registered and I do my own PAYE to keep accountant costs down and to allow me to have a good handle on what's going on.
I do occasionally have other people helping me out with the work and they will also go on the payroll for a limited period of time.
- VAT returns are filed electronically, after prompts and auto generated
- RTI returns filed automatically for payroll
- Prompts or future bills such as corporation tax, VAT payments etc
- Investments such as stocks and shares or commodities
- Sometimes it will guess account entries incorrectly and will always assume it knows which way you want to take money out of the company (dividend/expense/salary)
You can file your payroll and your VAT returns electronically. I can give permission to my accountant to download accounts annually. Dividends and expenses are handled as well as reminders for both overdue invoices and filing returns and additionally it will forecast corporation tax and other bills.
There are limits, such as investments and subsidiaries, but it will do the vast bulk of work with ease.
The support, although only by email, is prompt and helpful.
If you don't know much about accounts and don't like spending time on them I think most independent consultants can benefit substantially by using these guys.
- Easy invoicing
- Quick support - their G+ Q&A sessions really helped
- Importing bank feeds - makes things SO much easier.
- Being able to print out multiple things (like invoices) at once would be ideal
Simple Invoicing and Account Management
- Simple Invoicing - really easy to set up and send out with online payment integrations.
- Bank Feeds - having transactions automatically feed in from my bank account is a great timesaver.
- Expenses Tracking - simple process to keep track of expenses and receipts.
- It would be great if you were able to manage transaction explanations on mobile.
FreeAgent is a perfect accounting solution for consultancies / professional service firms
- Easy to use and understand
- Excellent user interface
- Bank feeds
- None really - aside from adding even more integration FreeAgent is good as it is