For the last few years I’ve been logging all incomings and outgoings using a combination of MS Excel and a mac based application called Billable. To begin with it worked great, but over time I got busier and busier and things started slipping. I’d forget to log work, invoice very sporadically and as a result I never really had a grip on my accounts. That’s when a friend recommended FreeAgent to me, so I had a look and signed up for a 30 day free trial.
After a few days of testing it quickly became apparent that FreeAgent was a great fit for my business. I’m not going to have an in-depth look at every feature that FreeAgent offers, the free trial can do a better job of that than I ever will, but what I will try and do is explain why I rate it so highly.
Built in the UK for small businesses (in the UK)
First and foremost, FreeAgent is a UK based business. The software understands UK business and tax better than any of it’s competitors, it’s all very straightforward and intuitive. Right from the off it really feels like it’s tailored to your business, you’re prompted to choose your business type: Sole Trader, Partnership or Limited Company after which the interface changes to meet your requirements.
FreeAgent’s dashboard provides you a great overview of all that’s happening with your business – open/overdue invoices, projects with unbilled time, profit and loss for the year so far, recent timeslips, and open/recently approved estimates. If that doesn’t float your boat, you can customise the overview page to meet your needs.
Automatic bank feeds
Another great feature and massive, massive timesaver is automatic bank feeds. As you would expect they pull your bank feeds in to the system and mark any incomings or expenditure down, you also have the opportunity to mark any invoices that have been paid. As you begin to use this feature you really notice it’s worth as FreeAgent learns from your explanations and starts to save you the time, while at the same time building a picture of the money coming in and going out of your account.
Client reminders for overdue invoices
I absolutely love this feature – automatic reminder emails can be set on overdue invoices. I personally have this set on all my invoices. I have reminders set at 2 days before an invoice becomes overdue with a custom friendly nudge, followed by a sterner message every 7 days after that. You’d be surprised how many times clients have paid up upon receiving one of these messages. And the best part, because it’s an automatic reminder – it doesn’t feel like you’re personally nagging your client.
Finally, FreeAgent offers all the usual features that you would expect from an online accounting service – estimates, expenses, invoices, reminders, time tracking and contact management. And it does them all very well.
Pricing & discount code
Take a look at FreeAgent, I don’t think you’ll be disappointed – FreeAgent starts at £19/month for sole traders with a free 30 day trial and you can get a 10% lifetime discount by entering this code (450o5fbi) into your FreeAgent trial account or clicking the button below…