FreeAgent is a cloud-based accounting solution for freelancers, accountants and small businesses owners to manage invoices, expenses, payroll, tax returns and other accounting tasks. FreeAgent also offers dedicated mobile apps for iOS and Android devices.
FreeAgent allows accountants to set up recurring invoices which are automatically sent to clients as reminders to make payments. Users can also track expenses by uploading the photo of an expense receipt with the FreeAgent mobile app. The solution offers a built-in stopwatch feature to manage timesheets and track employee hours.
The user dashboard provides an overview of key business metrics from a single screen. Business owners can track invoices, estimates, timelines and project status. Tax timeline features also provide updates and reminders about deadlines and tax dues. FreeAgent uses a 256-bit secure socket layer connection to secure user data.
Tom from Tom McCallum Copy
Specialty: Marketing Services
Employees number: 1 employee
I found FreeAgent easier to get my head around than other accounting software, both desktop and cloud, that I'd used in the past. I did have to call support a couple of times but I got straight through and they were a pleasure to deal with and sorted all my issues impressively well.
FreeAgent is great in January when I can file my tax return directly to HMRC. The form is also filled with data I've entered throughout the year so self assessment time is pretty hassle free, which s unusual for a freelancer. I've just started using the mobile app and find that this is really is good too. I can take care of all the day-to-day stuff, like explaining bank transactions and entering mileage, when I'm out and about on business to stop it mounting up.
The mobile app is really great, but doesn't yet have the same in-depth functionality as the desktop app.
Ian from Mind Body Sport, PC
Specialty: Healthcare / Social Services
Employees number: 1 employee
Does what it's supposed to. Lots of functionality with more control than quickbooks. Reports are nice.
Bank transactions never automatically imported. Created random transactions based on categorization of others. Overall, each of its functions seem to function better independently than they integrate.
Syncing with your bank accounts allows you to keep track of expenses, income and bills really easily. There is good help in the support section and it is good to be able to get some automated analysis of the figures too.
The time tracking feature is not very flexible and has caused me issues, I am using a different software to track time now. The design also is quite accountant-oriented
Easy assess and works great for tracking my time and billing clients. The bank feed works well. I like the overview information of the home screen dash board.
I have an accounting background and am a bit frustrated with how to pay bills and reconciling an account. It has not been very easy for me to understand how some of the functions work - relative to other software that I have used. Some one with out my background might find it easy to understand.
Response: FreeAgent Central, FreeAgent Central
Date: March 2018
Thank you for taking the time to leave us a review. It's great to hear about the features you like using. Regarding the parts you are frustrated with, could you please contact our support team on 0800 288 8691 and explain this to them in more detail? They may be able to help you, and they can pass on any specific feedback for improving the product to our engineering team.
David from Boxhead
We've been using Freeagent for over 5 years. In that time frame my company has grown from being a sole-trader to an incorporated limited company with employees. To say that Freeagent has helped facilitate that growth would be an understatement.
We now use Freeagent for our VAT submission (saving us £200pq accountants fees), Payroll (saving us £10pm per employee), Sending out client estimates/invoices, and what we originally bought it for... Book keeping and accounting.
We have Freeagent connected to our bank feeds, meaning we are only ever 24hrs out of date with our live bank accounts. This is now a common practice with similar software, but for us it came just at the right time.
Their team of inhouse accountancy experts is also an incredible resource that we use around once a quarter, or whenever something new crops up that we might need some help with. We still use the skill of an account for filing our end of year accounts, but we could even do this with free agent.
The one thing that has been a niggle like a tiny pebble in your shoe, or scratch on the roof of your mouth, is that you cannot send a remittance! Many people have requested this functionality but it has largely been ignored by the freeagent team. I have no idea whether it is a technical or philosophical reason they've just not engaged with it... If they did implement this functionality it would pretty much make it perfect for my companies needs.
Emanuele from The Information Lab
Employees number: 51-200 employees
Overall experience is good. It allows to better organised both my bookeeping but as well my employee work due to its usability. Love as well the API integration that allow me to create custom analysis.
Too much focus on UK client. We are an Italian company and some of the functionality available for UK are really complex to achieve for us and required workaround.
Billing only in 1 currency is crazy, why do you have invoice in multiple currency but billing cannot be done? It should be a simple addition to make but it has been year that people asked for this and still not implementation.
Country specific payroll. Although I am aware it will be impossible to enable payroll for every country out of the box why don't allow customer to customized the payroll functionality to meet payroll requirements or add important deadline for taxing purpose.
Even the export functionality can be improve and should be added to every areas from timesheet to bill, from invoice to expense with filter that allow you to specify the data you want to export.
VAT calculation for Intrastat - due to the internationalisation of business should be easier to export only bill and invoice that are related to country outside your normal business area.
What about language package? Again if not possibile provide an LDK that allow client to customize the interface.
It just works. The software looks good on desktop and connects to the mobile app well. From invoicing, to time tracking, to payroll, tax returns ... so much functionality and pretty much error free. Unlike other financial software, you don't need to pay more for features like payroll and multi-currency. Win.
It would be useful to have a few more multi-currency features (e.g. multi-currency bills and expenses).
Jonathan from Landmark Expertise
Employees number: 2-10 employees
FreeAgent is a fantastic product. I have only needed to use support a couple of times and they were more unusual questions.
As a freelancer, keeping an eye on income and expenditure, billing and chasing invoices and recording expenses with my phone is really important. Add to that the easy submission of my tax return and it really is a great piece of software.
I am a little disappointed that I could not receive any of the discounts offered to new customers. (e.g. 6 months half price).
My accounting needs are quite basic and I haven't used Free Agent for long enough to have found cons yet.
The visibility it provides me on my business. Easy to use, the link with the bank account makes things very straightforward.
Saul from University of Oxford
Employees number: 10,000+ employees
Love the user interface, which is easily customisable and visually it is really appealing. Makes accounting fun!
Easy to use, once you know how to access some of the features.
I have a straightforward business in private medical practice and this software takes care of my invoicing, accounting and expenses all in one, with automatic updating of all the relevant information at your fingertips.
Both my secretary and I can access the software from anywhere, so it makes for easy team-work.
One of the best features for me is the projects section, where I can keep track of the numerous expert reports that I have on my books at any one time.
Sometimes working out how to find something, or to alter a document isn't intuitive, and I have had to refer to the website for help, which has always been useful (so far).
(NB I think the user who didn't like being referred to My Business Works is being unnecessarily unfair to this software because they had to go through a Barclays intermediary - Barclays are known for their poor service, but this is not FreeAgent...)
John from Opencity Inc
Employees number: 2-10 employees
The ease of use combined of the platform which is exceptionally intuitive, combined with the brilliant customer service.
FreeAgent appears somewhat UK-centric, although the support is still exceptional. The banking does connect to banks in Canada and I have been able to manage harmonized sales tax in Ontario. It may have some current limitations to make it a credible better substitute for Sage, in respect of the tax nuances across different Canadian Provinces.
Very easy to use and gives valuable, easy to read information on status of the business.
Easy to set up and monitor invoices and add information.
Excellent automatic calculation of tax liabilities and ability to file through interface.
The bank feed for importing HSBC bank transactions is terrible and takes an age to import transactions which is disappointing with todays technology. From the forums this appears to be a longstanding issue that should have been fixed by now but isn't and unsure if it will be.
Self-assessment should be updated to include ability to add capital gains and property income.
I like the simplicity, direct tax sending features and time tracking. App solution for mobile is also very good
I would like to have my projecta overview on mobile. I dont get why should I write at least one hundred characters here....
the mobile app is great for tracking time or updating expenses while on the road
Like the time reporting features to report by contact or project
Tax Timeline also really helpful for getting a quick understand of what's owed
It's difficult to make corrections on invoices, especially if an expense or time item is labeled wrong, requires deleting/creating a new invoice rather than being able to unlock the items associated with it and fix them.
Layout options for invoices are very limiting unless you create your own CSS file.
Can't change account type without contacting admin - ie I mistakenly set up as a sole trader instead of private ltd company and says I have to contact customer service to change it.
Easy to setup and use - the mobile app is pretty good making it easy to add expenses. Bank feed is handy. I use the API to import expenses.
Expensive compared to competitors like Xero, bank feed is slow. Perhaps you can add integrations for credit cards too to automatically pull in expenses.
Lynne from Consulting
Easy to use with a good range of functions and fantastic customer support. Regularly updating with new features. Weekly emails with tips are helpful too. Excellent tax reporting features.
Bill feature is limited. Often I want to split an invoice between multiple ledger codes so I have to create it twice.
One of the things that scared me about going freelance, was the accounting and book-keeping part this entails. After researching similar web-based solutions, I decided upon subscribing to Freeagent. I wouldn't be able to run my business without it. Everything I need, from invoicing and clients database, to expense filing and completing my self-assessment is there, easy to use and access. When I needed some help or clarifications about something, the staff were prompt and eager to help me and made sure my issues were resolved in any case. Highly recommended software & service!
I find that the mobile app has limited functionality compared to the desktop site. I would like the same level of editability when it comes to the handling of bank transactions, as I have via my internet browser.
BEN from HOPKINS GROWTH MARKETING
Employees number: 2-10 employees
Ease of set-up
Integrates with my banking transactions automatically (Barclays)
Automated explanations, and complete the rest on my iPhone app - on train, in bed etc!
Superb reports fit for any accountant, better than many!
Invoices look amazing and the automatic chasing / thanking clients for payment is a delight
Self assessments completed in a doddle - and for free as part of our subscription.
Incredibly customer support from trained accountants who are always able to give me advise as and when i need it.
Only thing I would change is being able to re-enrol for VAT instead of having to open a new account as it took some time to transfer my data over into a new account.
Stephen from IT Lab
Employees number: 201-500 employees
Well designed and appealing UI
Clear presentation of salient data
Good, clear financial reports - P&L, Balance Sheet, various ledgers
The tax return function looks well designed but I have not had the need to use it yet.
Intuitive to use, with good tutorials
Good online help and FAQ/KB section
Good quality and fast customer support
For the smaller business who fancies something a bit more than the basic Quickbooks, it is a little pricey and I don't use the payroll/time tracking and projects features or have multiple users which would better justify the higher price.
The account linking is poor to middling for credit cards with manual imports and some data manipulation required. Even when I log in to Lloyds and get my bank accounts I can't see my Lloyds credit cards, although this may well be a limitation on the Bank side.
Ease to use, easy to input data and access to overview info. quote feature is SO convenient. Gives you the professional looks we wanted to transmit to our customers. Convenient database to keep track on projects
Reports adjustments and correcting info is a bit complicated. You gotta go around several times in order to have the chance to modify data that was missplaced.
Barry from Cortex Consulting
Employees number: 2-10 employees
I run a limited liability partnership and FreeAgent gives me the ability to control the accounts without having to involve accountants. Everything is so easy from generating the accounts for Companies House, managing my travel expenses, time tracking and billing, and sorting out VAT and self assessment returns. The best accounting software I've yet discovered for a freelancer business. It has all of our needs covered.
I had some initial issues but that was mainly because I didn't know what I was doing. A bit of browsing round the help pages soon sorted that out.