For freelancers or small business owners who need to organize their financial accounting, FreeAgent is a great tool. FreeAgent was designed to cater to service or project-based businesses that needed a reliable service to help them track billable hours and present invoices to clients.
Like any other accounting application, FreeAgent is the cloud-based meaning you can access it from any device, anywhere. There are also iOS and Android applications available for FreeAgent to provide business owners with more ease whilst tracking their work hours.
How Much Does It Cost?
Since many business owners cannot afford to pay large amounts for their accounting needs once they have started a ltd company in the Uk, FreeAgent ensures that it remains an affordable option in the market. For the UK, FreeAgent currently provides customers with three different packages to choose from.
The Limited Company package costs £14.50 per month for the first six months but then increases to £29. This package is suitable for most businesses since it provides all the essential features that you would look for in an accounting app, such as self-assessment and tax forecasting.
However, before you start paying for the service, there is a 30-day free trial available to all customers. If you want to become acquainted with the accounting app before committing to it, you can use the 30 days to determine whether or not FreeAgent is suitable for you. The best part about the free trial option is that there are no contracts involved. Customers are free to close their accounts at any time during the first month without having to pay any cancellation fee.
Once you do decide to sign up for the paid version of FreeAgent, you are only required to pay for your monthly subscription. There are no hidden fees such as registration involved in FreeAgent.
Features of FreeAgent
When you start using an accounting app to create invoices and time your work hours, it is important to look for the right features. Here are a few of the most important features of FreeAgent:
1. Ease of Use
If you are looking for an accounting app that is fairly simple to use, then FreeAgent can be a great option for you. Setting up your account would only take a few minutes, and it is fairly easy to connect your bank account to FreeAgent to make or receive payments via the app.
With FreeAgent, it is also possible to customize your dashboard according to your own preference. If you feel the need to rearrange the items on your homepage, you can simply do so using their drag-and-drop user interface. By default, invoices are located in the ‘Work’ tab. This will also include all of your ongoing projects and time-tracking features for project-based businesses.
3. Quick Accounting
FreeAgent also provides an ease to customers when it comes to making invoices for clients. Since businesses have multiple ongoing projects simultaneously, it can be a tedious task to make detailed invoices for each client. To make things easier, FreeAgent allows you to simply add the details of your quote to the app, and it will be converted into a proper invoice automatically.
4. Scheduling FreeAgent also allows you to schedule invoices on a monthly or weekly basis, according to your project requirements. You can also set up payment reminders in the app that help you send invoices to clients regularly