We absolutely love FreeAgent – not only do we recommend it to clients, we also use it to run our accounting business – practice what you preach, they say!

We thought it would be useful to outline some of the key benefits of using FreeAgent in a blog post so here we go.

We specialise in FreeAgent and are able to offer you a fixed monthly accounting fee to include all the services you need.

Raising Invoices

Once you have set-up your invoice template (very easy) you can email your invoices to your customer through FreeAgent and if you have recurring invoices you can set these up so they are automatically emailed on a set date each month / quarter – you do this by setting up a ‘profile’ , see below


Bank reconciliation

Your list of bank accounts are found on the ‘banking’ page below


There are two options for getting your bank transactions into FreeAgent – you can either import them from your online banking system or even better many banks now have automatic feeds setup so the transactions come into FreeAgent automatically, see HERE. This is a real time saver.

Once the transactions are in FreeAgent you have to tell FreeAgent what they are for – the clever thing here is that FreeAgent can learn your transactions, so for example if you have a recurring payment going to “Vodafone” because you allocated that to “Mobile Phone Expenses” last month, the system will automatically allocate it the same way this month – you just need to cast your eye over the transactions and check they’re all ok.

The benefit of this system is that your companies financial and cash position is always up to date allowing you to make smarter business decisions.

Tax timeline

The dashboard gives you a tax timeline which tells you up and coming key dates and tax estimates:


Corporation Tax

FreeAgent estimates your corporation tax bill in real time so you can see what your distributable reserves are and how much you have available for dividends – in the below example you can see there is £21k available.


Projects / Time Tracking

You can set-up Projects and time sheet recording on the system, whether you are charging for time or not:



There are many other elements and benefits to this amazing system but hopefully this has given you a bit of an outline. The key thing is that it is a very simple system to use and has been built by non-accountants so the learning curve for clients is minimal.

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