TrustRadius Top Rated Accounting Software for Small Businesses 2015


Accounting Software

Software Profile & Review Summary

FreeAgent was founded in 2007, is based in the United Kingdom, and has raised about $6.6 million in funding.

The company offers cloud-based accounting software for small businesses and freelancers. The product supports core accounting software features, including invoicing and expense management, time tracking, configurable sales tax rates, A/P and A/R, bank reconciliation, payroll, tax management, project level accounting, finance reporting and multiple currency support.

The company acquired US startup 60mo in 2012 to help penetrate the US market.

Company Status: Private
Best Fit For: Freelancers and small businesses with 0-3 employees; UK businesses
Most Compared To: N/A
Customers: 40k+
Employees: 64 (on LinkedIn)

FreeAgent Customer Distribution

FreeAgent Customer Distribution Pie Chart
Source: (22) User reviews and ratings of FreeAgent on TrustRadius

Aggregate User Ratings of FreeAgent on TrustRadius

Source: (20) User reviews of FreeAgent on TrustRadius
Rating Attribute FreeAgent Rating # of Reviewers Contributing to Rating Average Accounting Software Average Rating
Likelihood to recommend 10.0 20 8.1
Product usability 10.0 2 7.4

Summary of FreeAgent Reviews

Source: (20) User reviews of FreeAgent on TrustRadius
FreeAgent Pros FreeAgent Cons
Users can easily create estimates, proposals, invoices, recurring invoices, and automatic notifications on late payments.
Mobile apps
There is no Android app; the iPhone app is new and could be improved.
Bank integration
Users can connect their bank accounts to the software for automatic bank feed, eliminating the need for manual data entry.
Investment accounting
The software doesn't handle investments such as stocks, shares or commodities.
UK tax filing
Allows for VAT return filing, RTI returns, self-assessments, and submitting directly to HMRC. The software also provides VAT and PAYE payment reminders.
Additional features
Users would like to see additional features or customization options, such as year-end payroll reports, additional email or text alerts, the ability to print multiple invoices at once, and automatic receipt numbering.
Customer support
Email support is prompt and helpful; documentation and knowledgebase is also helpful.

FreeAgent note: Telephone support is available for UK customers.

Time and expense tracking
The software allows for time and expense tracking as well.

Ease of use
The software is easy for non-accountants to learn and use.

FreeAgent Response to Reviewer Feedback

We are delighted to see that customers rate FreeAgent so highly and it's great to see that we are meeting the needs of the freelancers and small business. That's why we built FreeAgent: we were freelancers ourselves and felt that doing the books was just too damn hard!

We launched our iOS app , FreeAgent Mobile, in April 2015 and since the launch we have released new features including the ability to handle mileage claims and expense rebilling. We know that managing transactions is one of the easiest ways to stay on top of your finances and we are currently working on adding this functionality to FreeAgent Mobile. We are also planning to release an Android app later this year.

We are constantly developing FreeAgent and it's great to see that we've already delivered one of the requested features: the ability to generate year-end payroll reports (P60s). Our team of engineering and tax experts are working on even more improvements including a pension auto-enrolment report, which will be released in 2015.