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FreeAgent

Score6.7 out of 10

58 Reviews and Ratings

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.

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Categories & Use Cases

Videos

FreeAgent Key Features

Learn about the best (and worst!) features FreeAgent has to offer, as determined by TrustRadius' reviewers.
Based on 58 ratings of FreeAgent's features
View all FreeAgent features

Top Performing Features

  • Manufacturing module

    The software helps track and manage raw materials, work-in-progress items, and finished goods.

    Category average: 6.3

  • 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: 7.8

  • Electronic tax filing

    The software provides a full electronic interface for the filing of repeatable taxes, such as payroll or sales tax.

    Category average: 7.9

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: 7.6

  • Location management

    The software can track multiple goods across multiple locations.

    Category average: 7.9

  • Custom reports

    Users can create custom reports.

    Category average: 7.6

Who Buys & Uses FreeAgent

FreeAgent Reviews

What users are saying about FreeAgent.
View all FreeAgent reviews

Works well, but could be better

Incentivized
Verified User
Administrator in Customer Service (1-10 employees)

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.

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 software for micro businesses and sole traders.

Daniel Jaworski
Certified Public Accountant in Finance and Accounting at Deeagle Tax and Accounts Limited (1-10 employees)

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

FreeAgent - great bookkeeping software for small businesses

Incentivized
Magda Jaworska
Manager in Finance and Accounting at Go2 Accountants Ltd (1-10 employees)

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

Incentivized
Vince McConvilleView profile
Advisor / Director at Consiliosa Ltd (1-10 employees)

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

Kirsty McWilliam
Consultant in Corporate at Beyond the Numbers Ltd (1-10 employees)

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.

FreeAgent Alternatives

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