What is FreeAgent as Small Business Accounting Software?

2 years ago   •   5 min read

By Zekeriya Mulbay

Aren’t you tired of operating your small business financials by yourself? Well, the award-winning app FreeAgent is here for you. It’s specifically created for small businesses. It has 1.819 reviews on Trustpilot and over 100,000 users.

Freeagent assists you in keeping track of your small business account records and bookkeeping. Help is always at hand with FreeAgent!


Let’s take a closer look at FreeAgent and see if we can assist you with your questions.

What is FreeAgent and What is It Used For?

FreeAgent is accounting software for freelancers, small businesses, and their accountants and bookkeepers. The easy-to-use interface doesn't involve confusing accounting jargon, and a friendly support team helps you stay on track.

The software supports RTI-compliant payroll and time tracking, expense management, cash flow monitoring, invoice creation and distribution, and more. It has many big features for small businesses.

Moreover, FreeAgent also offers you a personalized tax timeline.

How to Use FreeAgent

Using FreeAgent is easy! Download, follow the instructions, sign in, and you are ready!

FreeAgent Online: Visit FreeAgent, sign in, and explore the app! Also, you can use Safari, Mozilla Firefox, and Microsoft Edge.

FreeAgent for IOS and Android Devices: Install FreeAgent Mobile Accounting on your smartphone or tablet to manage your business accounts on the go!For Android and IOS.

FreeAgent for Chrome: Add FreeAgent to Chrome and start using it right away!

FreeAgent for Mac and Windows: Download and install FreeAgent to your computer, sync your account, and access everything with just one click.

Is FreeAgent Free?

You can use it free of charge if you have a business account with Ulster Bank NI, Royal Bank of Scotland, or NatWest, provided that you keep your bank account.

Or, if you've got a business account with Mettle. The Mettle is a free business account for small businesses, giving you free access to FreeAgent.

Is FreeAgent Free?

Check out Plans and Pricing for further information.

US Businesses Plan: It's 50% off for 6 months! $10 for 6 months, then it will be $20 per month. Moreover, you can always try a 30-day free trial.

Is FreeAgent Worth Buying?

Although some users report that the pricing is a little higher than comparable software, others report that the software is very easy to use, has unlimited users, clients, and projects on all plans, and there are no lengthy contracts or hefty set-up fees to worry about.

So basically, it has more pros than cons. But if you are still not sure, we recommend you try a 30-day trial.

FreeAgent Personalized Tax Timeline

Everybody hates keeping track of their taxes. But FreeAgent is here to help you keep track of your taxes all year round. So you can concentrate on your job and not agonize about it!

Track your Tax Timeline and know what you owe and when to pay with your personalized tax timeline. Furthermore, automatically fill out VAT returns and submit them to HMRC (UK ONLY)!

FreeAgent Payroll

Report monthly PAYE information to HMRC in real time with FreeAgent Payroll. Be sure that you have completed the instructions to use payroll.

How to Prepare Payroll and Payslips?

First, you need to prepare your employees’ payslips. Afterward, you can start filing payrolls with HMRC for a specific pay period. To do that, go to the ‘My Money’ tab - on top of the screen and select ‘Payroll’. The payroll panel board highlights recent payroll activities and summarises useful data. Additionally, displays essential actions for you.

Select ‘Prepare Month {X} Payroll’ (top right of the screen). The X here is the number of the month for which you are filing payroll. Then payslips will be prepared for employees based on the info you have entered into their payroll profiles.

Run Payroll

First, you need to select a date for your pay period. Next, use the calendar and enter the date that the business is going to pay its employee. Know that HMRC needs the RTI - Real Time Information submissions to be made on or before that date. Check the date twice and make certain that the date is proper. (UK ONLY)

Then review and check the information on payslips to make sure they are correct. If everything is alright, then select ‘Save Changes. FreeAgent also provides a checklist. Make sure you double-check everything using the checklist.

After that, select ‘Run and Report Month {X} Payroll’ (bottom of the screen). Then a pop-up screen will be opened. Enter your Government Getaway credentials and select ‘Run and Report Payroll’ to complete the procedure.

Your payroll will be submitted to HMRC by FreeAgent, and you will see a confirmation on the ‘Payroll Summary. Fast and easy!

How to Send and Receive PayPal Invoice Payments?

To accept PayPal payments for your invoices, first, you need to add a PayPal account to FreeAgent. After you have created an invoice, you will see the option to accept or send payments using PayPal. You can also include an online payment link in your invoice.

With FreeAgent, your invoices will be automatically labeled as paid when the payment has been received.

What is FreeAgent Bank Reconciliation?

For small businesses, Bank Reconciliation is a necessary process. If you get it right, you will be on top of your finances, but if you do it wrong, you can even end up with even more taxes than you should. So, as you can see, it's critical progress. FreeAgent will help you with this topic as well!

Bank reconciliation is basically the step of making sure the information in your company's accounting records matches the information in your bank account. This includes opening balances, closing balances, and individual bank transactions.

Simply add all your bank transactions and then explain them to FreeAgent. For further information, check out FreeAgent for a beginner’s guide to bank reconciliation.

Top Tips And Tricks To Squeeze All Out Of The FreeAgent

Some more tips and facts that might interest you:

  • With FreeAgent, everything is unlimited! There are no limits to the number of users, clients, or projects you can have without additional cost.
  • There are no contract or setup expenses with FreeAgent.
  • Pay upfront and save cash!
  • You can even customize your overview screen.

Well, as you can see, FreeAgent has plenty of features that small business owners just love! Are you still struggling with your business finances by yourself? After all these features? Come on, try it. The free trial is a great opportunity to see if it works for you. FreeAgent is sure that FreeAgent has some best-fit services!

Keep reading Freelancer.guide for more useful tools!

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