FreeAgent

Pay calculation provides for computation of employee pay with state and federal deductions.

Benefit plan administration is administration of health insurance plans and 401k plans, and other benefits.

Direct deposit is the ability to electronically transfer pay to an employee’s personal bank account.

Salary revision is the ability to modify individual employee pay.

Reimbursement management provides cash reimbursement for employee expenses related to business travel or other.

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.

A number of third-party plug-ins are available to expand the core functionality of the software.

The software system supports a centralized authentication mechanism allowing the user to access multiple systems with a single, centrally managed password.

Permissions to perform actions or access or modify data are assigned to roles, which are then assigned to users, reducing complexity of administration.

Users can create, customize and share dashboards, which provide an overview of the most important metrics.

The software offers pre-built reports with metrics standard to the category.

Users can create custom reports.

This includes the automation and tracking of payment to vendors and suppliers, with features such as payment scheduling, check printing, open purchase order alerts, document management, direct ACH bill payment, and vendor records.

This includes the management and automation of invoices and collections, with features like statements, invoices, receipts, payment reminders, customer records, auto billing, and refund checks.

The software provides a complete picture of a company’s cash flows, streamlines payment processing, and includes cash forecasting.

The software connects to a company’s financial institutions in order to reconcile accounting records with checking, savings and credit card accounts. Often month and year closing capabilities are included.

The software can log and track business expenses and reimbursements, including travel-related expenses, with the ability to tie them to particular projects.

The software can track billable and non-billable employee time by project.

This includes the ability to track fixed assets (e.g., laptops), including location, check-in and check-out, maintenance scheduling, audit history, specialized property tax period reports, cost and depreciation.

The software supports transactions across multiple currencies.

The software is flexible and supports bookkeeping practices along multiple dimensions such as locations, branches or products.

The software helps users adhere to typical accounting standards and regulations such as IFRS, GASB, or GAAP.

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

The software provides online portals for certain stakeholders to find information relevant to them, such as employees, vendors and customers.

Automate and synchronize ledgers and processes

The software syncs orders and stock to maintain a real-time picture of inventory and supports multiple methods such as LIFO and FIFO.

The software can be set up to automatically reorder a good when it falls below a certain threshold.

The software can track multiple goods across multiple locations.

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

Users can set up complex and unique pricing requirements.

Users can enter an order once, and the data flows to all the necessary units such as fulfillment and billing.

The software facilitates credit card processing.

The software calculates the direct costs attributable to a finished product, such as materials and labor, and includes roll-up pricing.