#1 most frequent
United Kingdom of Great Britain and Northern Ireland
77.7%122 installations of 157
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.
Categories & Use Cases
Videos
Top Performing Features
Manufacturing module
The software helps track and manage raw materials, work-in-progress items, and finished goods.
Category average: 6.5
Cost of goods sold
The software calculates the direct costs attributable to a finished product, such as materials and labor, and includes roll-up pricing.
Category average: 8.5
Electronic tax filing
The software provides a full electronic interface for the filing of repeatable taxes, such as payroll or sales tax.
Category average: 8.5
Areas for Improvement
API for custom integration
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.
Category average: 8
Location management
The software can track multiple goods across multiple locations.
Category average: 8
Custom reports
Users can create custom reports.
Category average: 8
Who Buys & Uses FreeAgent
#2 most frequent
United States of America
12.1%19 installations of 157
#3 most frequent
India
3.8%6 installations of 157
FreeAgent - great software for micro businesses and sole traders.
Use Cases and Deployment Scope
We use FreeAgent on a daily basis for our practice and for our clients. It offers live cloud accounting solutions, that produces statutory accounts and HMRC tax returns for limited companies and for sole traders. It links with various bank accounts and imports bank transactions on a daily basis, that then can be easily categorised by FreeAgent. For an accountant it gives nice reminders and warnings if the client data is not up to scratch. Great incentive to use it is a free subscription for Mettle customers.
Pros
- Bank feed
- Auto categorisation of bank transactions
- Produces accounts and tax returns
- Multiple clients on one page
Cons
- Unusual transactions can be tricky to categorise
- Non-allowable capital allowances require quite a workaround
- Trial balance could be more flexible, especially balance sheet
Return on Investment
- Client satisfaction of micro clients has very much improved by providing them with a great and free to use with Mettle account solution
- Saves lots of time by auto categorising transactions, compared with e.g. Excel spreadsheets
- Improves quality of data but showing warnings when e.g. clients don't reconcile the bank or don't login to their software
Alternatives Considered
QuickBooks Online Advanced, Xero, Wave Accounting, Kashflow and Sage Accounting
Other Software Used
Xero, QuickBooks Online Advanced, Sage Accounting, Wave Accounting
Works well, but could be better
Use Cases and Deployment Scope
We use FreeAgent for creating estimate and invoicing clients as well as managing staff expenses. We also use it for payroll and giving staff access to their pay records.
Staff are able to upload receipts and check on the progress of their payments.
Being able to categorise payments to projects is very useful.
Staff are able to upload receipts and check on the progress of their payments.
Being able to categorise payments to projects is very useful.
Pros
- Sending detailed estimates to potential clients and managing the status.
- Uploading expense receipts
- Sending out invoices
Cons
- Clearer explanations as to what certain actions do. e.g. Smart Capture
- Clearer menus as things are in different areas and not obvious.
- Contact naming, especially when you have multiple contacts in one company
Return on Investment
- It has made managing leads much easier by being able to track progress
- Managing contacts is tricky when searching as results only show company name and not the contact name
Usability
Alternatives Considered
Xero
Other Software Used
Xero, monday.com, CharlieHR, Microsoft Teams
FreeAgent - great bookkeeping software for small businesses
Use Cases and Deployment Scope
I use FreeAgent on a daily basis, reconciling the bank accounts of our clients and keeping the books up to date. It helps me ensuring that I have up to date information about my clients and I don't need to worry about making backups of the data. It helps me also that I can do this work from anywhere in the world, especially when I travel for longer period of time, or when I need to work from home.
Pros
- Bank reconciliation
- Trade debtors
- Taking payments from clients
- Multicurrency support
- Exporting data to TaxCalc
Cons
- Multi-level reporting with many subcategories
- Stock control
- Purchase orders and approval process of purchase invoices
- Link with our payroll provider, 12cloudpayroll.com
Return on Investment
- Considering it is a free software the ROI goes to infinity!
- It gave us a good control over our clients.
- It reduced the time to prepare the final accounts.
Usability
Alternatives Considered
Xero, QuickBooks Online Advanced, FreshBooks, Kashflow and Wave Accounting
Other Software Used
Xero, QuickBooks Online Advanced, FreshBooks, Wave Accounting
FreeAgent - Brilliant for helping me run my buisness
Pros
- Time recording against projects
- Great overview of financial position of business
- Automatic creation of dividend vouchers
Cons
- More links to third-party software needed
Return on Investment
- Has freed up a lot of time based on my previous system of managing my invoicing and accounts through Word and Excel
- I have an accurate day to day handle on the financial position of my business so I can manage my cashflow better
- The inbuilt time recording against projects has saved time in creating the invoices but also tracks my profitability on the work I do
Alternatives Considered
Xero, QuickBooks Online and Kashflow
Other Software Used
Insightly, Trello, Zenkit
Amazing product
Pros
- Ease of use.
- Bank feed.
- Amazingly quick support.
Cons
- More developed apps.
- Comparison of year on year results from within programme.
Return on Investment
- Efficiency.
- Control of VAT limits to keep under regulation for a small business.
