FreeAgent

Score6.1 out of 10

57 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.

Categories & Use Cases

Accounting

Manufacturing module
The software helps track and manage raw materials, work-in-progress items, and finished goods.
Category average: 6.6
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: 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

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: 7.7
Location management
The software can track multiple goods across multiple locations.
Category average: 8
Custom reports
Users can create custom reports.
Category average: 7.7

Daniel Jaworski

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

Verified User

Administrator in Customer Service (1-10 employees 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

Magda Jaworska

Manager in Finance and Accounting at Go2 Accountants Ltd (1-10 employees 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

Vince McConville View profile

Advisor / Director at Consiliosa Ltd (1-10 employees 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

Kirsty McWilliam

Consultant in Corporate at Beyond the Numbers Ltd (1-10 employees 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.

QuickBooks Online

Xero

Zoho Books

FreeAgent

What is FreeAgent?

Categories & Use Cases

Key Features

Top Performing Features

Manufacturing module

Cost of goods sold

Electronic tax filing

Areas for Improvement

API for custom integration

Location management

Custom reports

Reviews

Use Cases and Deployment Scope

Pros

Cons

Return on Investment

Alternatives Considered

Other Software Used

Use Cases and Deployment Scope

Pros

Cons

Return on Investment

Usability

Alternatives Considered

Other Software Used

Use Cases and Deployment Scope

Pros

Cons

Return on Investment

Usability

Alternatives Considered

Other Software Used

Pros

Cons

Return on Investment

Alternatives Considered

Other Software Used

Pros

Cons

Return on Investment

Related Products