FreeAgent - Detailed Review
Finance Tools
FreeAgent - Detailed Review Contents
Add a header to begin generating the table of contents
FreeAgent - Product Overview
FreeAgent Overview
FreeAgent is a cloud-based accounting and bookkeeping software that simplifies financial management for various types of businesses and individuals. Here’s a brief overview of its primary function, target audience, and key features:Primary Function
FreeAgent is designed to automate and streamline financial tasks such as invoicing, expense tracking, tax management, and financial reporting. It integrates bank statements, invoices, and expenses to build real-time business accounts, reducing the time spent on administrative tasks.Target Audience
FreeAgent is primarily aimed at freelancers, small business owners, and micro-businesses. It is particularly popular among:Freelancers and Contractors
Who benefit from features like time tracking, invoicing, and expense management to manage project-based income and expenses.Small Businesses
Which use the software for bank integration, tax management, and financial reporting to stay compliant with UK tax regulations.Micro-Businesses
That leverage FreeAgent’s automation and user-friendly interface to simplify their accounting processes.Key Features
User-Friendly Interface
FreeAgent boasts an intuitive design that makes it easy to set up and use, even for those with little accounting knowledge. The dashboard provides a comprehensive overview of income, expenses, bank balances, and tax timelines.Automated Accounting
The software automatically updates accounts from bank statements, invoices, and expenses, generating key financial reports such as profit and loss statements, balance sheets, and cash flow statements.Multi-Currency and International Billing
FreeAgent supports transactions in multiple currencies and allows for international billing in various languages. It also handles exchange rates and conversions automatically.AI-Driven Bank Transaction Explanation
Since June 2020, FreeAgent has used AI to automate the explanation of bank transactions, reducing the risk of data entry errors and saving time for accountants and their clients.Tax Compliance
The software ensures compliance with UK tax regulations, helping users avoid penalties and maintain good standing with HMRC.Mobile App
FreeAgent offers a mobile app that allows users to manage their finances on the go, including creating invoices, tracking expenses, and viewing financial dashboards. Overall, FreeAgent is a versatile and efficient tool that helps businesses and freelancers manage their finances accurately and efficiently. FreeAgent - User Interface and Experience
User Interface Overview
The user interface of FreeAgent is widely praised for its ease of use and user-friendly design, making it an attractive option for individuals and small businesses managing their finances.
Ease of Use
FreeAgent’s interface is intuitive and easy to navigate. Setting up an account is quick and straightforward, with a homepage that clearly signposts the key areas users are likely to start with, such as invoicing, setting up bank feeds, and more. The menu navigation is simple to grasp, typically taking less than 30 seconds to figure out.
User Interface
The dashboard of FreeAgent combines various modules into a single page, providing a comprehensive overview of your financial situation. This includes a cash flow chart, recent invoices and estimates, expenses, upcoming bills, and a banking module showing your cash levels across all accounts. Additionally, you can view a detailed breakdown of profit and loss, as well as upcoming tax timelines.
Features and Functionality
FreeAgent offers a range of features that are easily accessible. For example, the invoicing process, although it may have some minor quirks on the first use (such as figuring out where to add line items), is generally smooth. The software provides eight prebuilt invoice templates, and you can create custom ones. It also supports recurring invoices, automated payment reminders, and online payment options through services like PayPal, Go Cardless, and Stripe.
Support and Guidance
FreeAgent is known for its jargon-free explanations and supportive resources. The software includes brief introductions to each feature when you use them for the first time, which helps users get the most out of the tools available. Live Chat support is also available, along with an in-app bot that directs users to relevant help centre content.
Minor Oversights
While the interface is generally user-friendly, there are a few minor issues. For instance, the Quick Links menu for adding new documents is not always visible, and the screen for adding new bank feeds can appear chaotic and could benefit from an alphabetical order. Additionally, the price list feature lacks a search function, which can make managing a long list of items somewhat cumbersome.
Overall User Experience
Overall, the user experience with FreeAgent is positive. Users appreciate the ease of use, the clear and intuitive interface, and the comprehensive features that cater to small businesses, freelancers, and contractors. The cloud-based nature of the software provides flexibility and mobility, allowing users to manage their finances from anywhere with an internet connection.
Conclusion
In summary, FreeAgent’s user interface is designed to be easy to use, with a clear and intuitive layout that makes financial management straightforward, even for those who are new to accounting software. While there are some minor oversights, the overall user experience is highly regarded by its users.
FreeAgent - Key Features and Functionality
Overview
FreeAgent is a comprehensive cloud-based accounting software that facilitates a wide range of financial management tasks, making it an excellent choice for freelancers, small businesses, and sole traders. Here are the main features and how they work:Dashboard and Design
FreeAgent’s dashboard provides a centralized overview of all your financial activities. It includes a cash flow chart, recent invoices, estimates, projects, expenses, and upcoming bills. On the left side, you can view your combined cash levels across all accounts and a detailed breakdown of profit and loss, along with upcoming tax timelines.Invoices and Estimates
FreeAgent offers eight prebuilt invoice templates, and you can also create custom ones. You can add your logo, fill in the details, and email the invoices as PDFs to clients. The software supports recurring invoices with automated reminders for late payments. Estimates can be created using the same templates and easily converted to invoices once approved. FreeAgent integrates with PayPal, Go Cardless, and Stripe for online payments.Bill Management
The bill management module allows you to track outgoing money by creating bills linked to contacts. You can set up recurring bills, attach files, and assign them to specific projects. All bills are displayed in the Bills section of the dashboard for easy monitoring.Expense and Mileage Tracking
FreeAgent enables you to track expenses manually or using the mobile app to capture receipts. While the mobile app can automatically add receipts, it does not include GPS-enabled mileage tracking; you need to enter mileage manually. The software also handles currency conversion for international expenses.Project and Time Tracking
You can track time using the desktop or mobile app, either with a built-in timer or by entering time slips manually. Time entries can be assigned to specific projects, making it easy to generate invoices for unbilled time. This feature is particularly useful for businesses that charge clients by the hour.Banking Information
FreeAgent connects to most major banks, automatically importing bank transactions daily to facilitate easy reconciliation. You can also upload electronic bank statements in various formats. The software learns your transaction categorization preferences to reduce manual work.Sales Tax Calculations
FreeAgent simplifies sales tax calculations by applying the set tax rate to all relevant sales and purchases. You can add multiple state sales tax rates and mark them as compound when necessary. The software also provides 1040 Schedule C reporting for sales tax compliance.Reporting
FreeAgent includes 11 built-in accounting reports, such as profit and loss statements, balance sheets, and bank reconciliation reports. These reports provide essential insights into your business’s financial performance, though it offers fewer reports compared to some competitors.Tax Compliance
The software helps calculate tax liabilities, file returns, and keep track of important tax deadlines, ensuring you remain compliant with tax regulations. This feature is particularly beneficial for freelancers and small business owners who may find tax management challenging.Integration Capabilities
FreeAgent integrates seamlessly with various third-party apps and services, including PayPal, Stripe, and popular project management tools. This flexibility allows you to connect FreeAgent to the tools you are already using, creating a more efficient workflow.Collaboration Features
FreeAgent allows multiple users to access and work on your financial data simultaneously. This includes different user levels for staff and advisory roles for accountants, ensuring transparency and controlled access to your financial data.AI Integration
While FreeAgent itself does not have built-in AI features, it can be integrated with AI-powered tools through platforms like Zapier and XBert. For example, integrating with XBert allows for real-time data health checks, detection of financial anomalies, and automation of recurring tasks. XBert’s AI tools proactively identify inconsistencies and compliance risks, enabling accountants and bookkeepers to focus on high-value work.Conclusion
In summary, FreeAgent is a user-friendly, all-in-one accounting solution that streamlines financial management for freelancers and small businesses, with the option to enhance its capabilities through integrations with AI-driven tools. FreeAgent - Performance and Accuracy
Performance and Accuracy of FreeAgent
Automation and Accuracy
FreeAgent has made significant strides in automating basic bookkeeping tasks, particularly through its use of AI. Since June 2020, FreeAgent has been utilizing machine learning to help accountants and their clients explain bank transactions more accurately and efficiently. This AI technology can automatically categorize simple transactions, reducing the risk of data entry errors and saving time. For instance, the system has already explained over 18 million transactions, continuously improving its accuracy through user feedback.User Experience and Support
The software is praised for its user-friendly interface, making it accessible even for those without extensive accounting knowledge. FreeAgent’s mobile app is highly regarded for its on-the-go access and the quick, helpful customer support it provides. This includes live chat, email support, and a comprehensive knowledge base, ensuring users can get assistance when needed.Financial Reporting and Insights
FreeAgent offers essential financial reports, although some users find the customization options for these reports and invoices to be limited compared to other accounting software. However, the software does provide innovative features like “Insights,” which use data to highlight key aspects of a business’s performance, such as top customers, slowest-paying customers, and top spending categories. These insights help users make better-informed financial decisions.Limitations
Despite its strengths, FreeAgent has some limitations. One of the main issues is its pricing, which can be expensive, especially for light users, although significant discounts are available for new customers and those with specific bank accounts.Scalability
Another limitation is the software’s scalability. While it is excellent for freelancers and small businesses, it may not be suitable for larger businesses with more complex accounting needs. The feature set, although comprehensive for small operations, might fall short for medium to large enterprises.Integrations
Additionally, FreeAgent offers fewer third-party integrations compared to competitors like QuickBooks, which can be a limitation if your business relies on a variety of other software tools and platforms.Bank-Related Issues
Some users have reported issues with bank-related functions, such as slow bank feeds and problems with filing VAT and self-assessment returns, which sometimes require manual intervention.Conclusion
In summary, FreeAgent performs well in automating basic bookkeeping tasks and providing a user-friendly experience, especially for small businesses and freelancers in the UK. However, it has limitations in terms of scalability, customization options, and bank-related functionalities. While it is a reliable choice for many, it is important to consider these factors to ensure it meets your specific business needs. FreeAgent - Pricing and Plans
When considering the pricing structure of FreeAgent in the finance tools category, here are the key details you need to know:
Pricing Tiers
FreeAgent offers different pricing plans based on the type of business and the features required.Limited Company, Partnership/LLP, Sole Trader, and Landlord Plans
- For a Limited Company, the price is £29 per month, or £290 per year if paid upfront (excluding VAT). This plan includes features like invoicing, expense management, time tracking, project management, and financial statements.
- For Partnerships and LLPs, the price is £24 per month, or £240 per year if paid upfront.
- For Sole Traders, the price is £19 per month, or £190 per year if paid upfront.
- For Landlords, the price is £10 per month, or £100 per year if paid upfront.
Universal Plan
FreeAgent also offers a Universal plan that costs £10/month for the first 6 months, and then the price adjusts. This plan includes features such as invoicing with multiple currencies and languages, financial statements (balance sheet, profit & loss report, trial balance), expense management, time tracking, and project management.Features by Plan
Here are some of the key features available in each plan:- Invoicing: Supports multiple currencies and languages, recurring invoices, and automated reminders.
- Financial Statements: Includes balance sheet, profit & loss report, and trial balance report.
- Expense Management: Allows categorization of expenses, uploading receipt snapshots, and tracking recurring expenses.
- Time Tracking: Uses a built-in stopwatch or manual logs, with the ability to add recorded time to invoices.
- Project Management: Tracks time, payments, costs, and profitability against projects.
- Payroll: There is no additional charge for payroll in any of the plans.
Free Options
There is a way to get FreeAgent for free if you have a specific type of account:- If you have a Mettle business account, you can get FreeAgent for free by making at least one transaction a month from your Mettle account. This free subscription includes the standard features of FreeAgent, but you may need to pay for optional add-ons.
FreeAgent - Integration and Compatibility
FreeAgent, a comprehensive CRM and finance tool, offers a wide range of integrations that enhance its functionality and compatibility across various platforms and devices. Here’s a detailed look at how it integrates with other tools and its compatibility:
Integrations with Popular Tools
FreeAgent supports a multitude of out-of-the-box integrations with popular applications. These include:Email Services
- Gmail
- Outlook
- IMAP
- Exchange
Accounting Software
- QuickBooks Online
- Sage X3
- SAP Business One
Communication Tools
- Slack
- RingCentral
- Twilio
- Zoom Phone
Marketing Tools
- Mailchimp
- Sendgrid
Document Signing
- DocuSign
Calendar Integration
- Google Calendar
- Office 365
No-Code Integrations via Zapier
For users who prefer automation without coding, FreeAgent integrates seamlessly with Zapier. This allows you to connect FreeAgent with thousands of other apps, such as LinkedIn, Google Sheets, Web Forms, and more. Zapier makes it easy to set up and customize these integrations without any technical expertise.Low-Code Integrations via Webhooks
Webhooks provide another way to integrate FreeAgent with other applications, particularly useful for VOIP and phone integrations like Twilio, Zoom Phone, and RingCentral. Webhooks use a stable URL that third-party systems can call to perform actions in FreeAgent, making automation straightforward.Custom and Complex Integrations
For more custom or complex integrations, FreeAgent offers a robust Open API. This allows users to leverage their internal IT resources or hire a third-party solutions partner to develop and maintain the integration. Alternatively, FreeAgent provides premium in-house professional services at a rate of $200 per hour, which can be a convenient option for those needing custom integrations.Specific Integrations
FreeAgent also integrates with specialized tools like:Syft Analytics
This integration transforms FreeAgent accounting data into financial reports and insights, including AI-powered anomaly detection and multi-entity consolidation. It supports over 170 currencies and allows for the combination of financial and operational data.
Dext Prepare
Integrating Dext Prepare with FreeAgent enables the synchronization of the Chart of Accounts, Products/Services, Suppliers, Customers, Classes, and Payment Methods. It also allows for the direct publishing of Dext Prepare items to FreeAgent with all relevant details applied.
Compatibility Across Devices
FreeAgent is accessible and compatible with various devices and platforms. It works with web browsers on iOS and Android devices, and there is also a FreeAgent mobile app available for on-the-go access. This ensures that users can manage their accounts and integrations from anywhere. In summary, FreeAgent offers a versatile and extensive integration ecosystem that caters to both non-technical and technical users. Its compatibility across different devices and platforms makes it a flexible and reliable choice for managing financial and CRM tasks. FreeAgent - Customer Support and Resources
FreeAgent Customer Support Overview
FreeAgent offers a comprehensive range of customer support options and additional resources to ensure users get the help they need efficiently.Live Chat Support
One of the most convenient support options is the live chat feature. Available from Monday to Thursday between 9am and 5pm, and Friday from 9am to 4pm, this allows you to quickly connect with FreeAgent’s expert support accountants. To initiate a live chat, look for the blue ‘Help’ button at the bottom-right of the screen on any FreeAgent website page or within your account. If the live chat is not available, you can leave a message, and the support team will email you back as soon as possible.AI-Powered Assistant
Before connecting with a live support agent, you’ll interact with Ruby the Robot, an AI-powered assistant. Ruby suggests articles from FreeAgent’s comprehensive Knowledge Base that might solve your query instantly. If these suggestions don’t help, you can select ‘Get in touch’ to proceed with the live chat or leave a message.Phone and Email Support
For those who prefer more traditional methods, FreeAgent’s phone lines are open during the same hours as the live chat. You can call them at ( 44) 131 543 3201. Additionally, you can email the support team directly at support@freeagent.com.General Enquiries and Specialized Support
FreeAgent also provides contact details for various types of enquiries, such as media and PR, partnerships, and practice sales. This ensures that you can get in touch with the right team for your specific needs.Additional Resources
Knowledge Base
FreeAgent has a detailed Knowledge Base that Ruby the Robot draws from. This resource is filled with articles and guides to help you resolve common issues on your own.Integrations
FreeAgent integrates with a wide range of third-party services, including CRM tools like HubSpot, expense management tools like Dext, and payment solutions like Corpay One. These integrations can enhance your accounting experience and streamline your workflow.AI-Driven Features
FreeAgent uses AI to automate tasks such as explaining bank transactions, which helps save time and reduce data entry errors. This AI technology is continuously improved based on user feedback.User Feedback and Community
FreeAgent encourages user feedback to improve their services. You can see testimonials from satisfied users who appreciate the ease of use and the time-saving features of the software. This community feedback helps in refining the product and support services. By offering a mix of live support, AI assistance, phone and email options, and a wealth of additional resources, FreeAgent ensures that users have multiple avenues to get the help they need to manage their finances effectively. FreeAgent - Pros and Cons
Advantages
User-Friendly Interface
FreeAgent is praised for its easy-to-navigate platform and comprehensive dashboards, making it accessible even for novice users.
Expense Tracking
The software allows you to attach expenses to projects, which is highly useful for accurate financial tracking and project management.
Invoicing and Contact Management
FreeAgent offers efficient invoicing and contact management features, including automated reminders for late payments and the ability to set up recurring invoices.
Tax Management
It enhances the tracking of business tax and simplifies the process of completing tax returns, reducing the stress associated with tax preparation.
Multi-User Support
The software supports an unlimited number of users, customers, projects, and transactions, making it scalable for growing businesses.
International Invoicing
FreeAgent facilitates international invoicing, which is beneficial for businesses operating globally.
Bank Feed Integration
The seamless integration with online bank accounts provides real-time updates on financial status, which is crucial for effective financial management.
Customer Support
Users appreciate the exceptional customer support provided by FreeAgent, which is responsive and knowledgeable.
Disadvantages
Limited Reporting Features
One of the significant drawbacks is the limited reporting and dashboard capabilities, which can affect the ability to analyze and visualize data effectively.
Learning Curve for Certain Tasks
Novice users may struggle with learning how to pay bills and reconcile accounts, which can be a bit challenging.
Customer Addition Issues
Adding customers for invoicing can be cumbersome, especially when dealing with a large number of customers.
Date Field Format Issues
Some users have reported issues with the format of date fields, which can be inconvenient.
No Inventory Management
FreeAgent lacks proper inventory management features, which might be a limitation for businesses needing this functionality.
No Cash-Basis Accounting
The software does not support cash-basis accounting, which could be a drawback for some users.
Monthly Payroll Limitation
FreeAgent only allows for monthly payroll, which can be restrictive for businesses with different payroll schedules.
Search Function
Some users find the search function a bit tedious and struggle to refine search parameters, which can slow down the process of finding specific information.
By weighing these pros and cons, you can make a more informed decision about whether FreeAgent aligns with your business needs.
FreeAgent - Comparison with Competitors
When Comparing FreeAgent with Competitors
FreeAgent stands out in the finance tools and accounting software category, with several key features and differences compared to its competitors.Invoicing and Estimates
FreeAgent offers robust invoicing capabilities, including support for multiple currencies and languages, recurring invoices, and automated reminders. It also allows you to create estimates using pre-built templates and convert them into invoices once approved. This is similar to what FreshBooks offers, but FreeAgent’s integration with payment gateways like PayPal, Go Cardless, and Stripe adds an extra layer of convenience.Expense Management
FreeAgent’s expense management features include categorization, uploading receipt snapshots, and tracking recurring expenses. This is comparable to Expensify, which focuses heavily on spend management and includes features like expense tracking, invoicing, and bill payment. However, FreeAgent’s integration with bank feeds for automatic expense updates sets it apart.Project and Time Tracking
FreeAgent allows users to track time using a built-in stopwatch or manual logs, and this time can be added to invoices. This feature is also available in FreshBooks, but FreeAgent’s project management module, which tracks payments, costs, and profitability against specific projects, is particularly useful for freelancers and small businesses.Financial Statements and Reports
FreeAgent provides comprehensive financial reports, including balance sheets, profit & loss reports, and trial balance reports. While FreshBooks and Xero also offer these reports, FreeAgent’s detailed breakdowns, such as the Aged Debitors & Creditors and Capital Assets reports, are particularly useful for small businesses needing detailed financial insights.Multi-Currency and Inventory Management
FreeAgent supports multi-currency accounts and includes inventory management features, allowing users to track stock items and record purchases and sales. This is a unique feature compared to some of its competitors, although Zoho Books also offers inventory management with real-time updates and compliance with local tax laws.Alternatives and Competitors
FreshBooks
FreshBooks is a strong competitor, offering similar features like invoicing, expense management, and financial reporting. However, FreshBooks is more geared towards self-employed professionals and their teams, whereas FreeAgent is versatile and used by a broader range of businesses.Xero
Xero is another major competitor, known for its global reach and innovative features. Xero is often praised for its ease of customization and real-time financial reporting, but it may be less efficient in some areas compared to FreeAgent.Expensify
Expensify is focused more on spend management and is ideal for businesses needing detailed expense tracking and bill payment features. While it overlaps with FreeAgent in some areas, it lacks the comprehensive accounting features that FreeAgent offers.Zoho Books
Zoho Books is a powerful financial platform that streamlines business transactions and provides real-time reporting. It is highly innovative and better at training, but may be less reliable and efficient in some aspects compared to FreeAgent.Conclusion
FreeAgent stands out with its user-friendly interface, automated processes, and comprehensive accounting features. While it has strong competitors like FreshBooks, Xero, and Zoho Books, its unique blend of invoicing, project management, and multi-currency support makes it a preferred choice for many small businesses and freelancers. If you are looking for a tool that simplifies key accounting tasks and offers a wide range of features, FreeAgent is certainly worth considering. However, if your business has specific needs such as heavy expense tracking or more advanced customization, alternatives like Expensify or Xero might be more suitable. FreeAgent - Frequently Asked Questions
Frequently Asked Questions about FreeAgent
What is FreeAgent?
FreeAgent is online accounting software designed to help small business owners and landlords manage their financial admin. It allows users to process financial transactions, store financial data, and automate certain bookkeeping and accounting tasks.How much does FreeAgent cost?
The cost of a FreeAgent subscription is $27 per month after an initial 50% discount for the first six months, which brings the price down to $13.50 per month during that period. There are no contract or setup fees. You can also opt for annual billing with a similar discount structure.Is there a free trial available for FreeAgent?
Yes, FreeAgent offers a 30-day free trial that does not require a credit card to sign up. This allows you to test the software before committing to a subscription.Are there any free options for using FreeAgent?
If you have a business current account with NatWest, Royal Bank of Scotland, or Ulster Bank, you can get FreeAgent for free as long as you retain your bank account. Additionally, Mettle account holders can use FreeAgent for free if they make at least one transaction per month to or from their Mettle account.What are the key features of FreeAgent?
FreeAgent includes several key features such as a comprehensive dashboard, invoicing and estimate tools, time tracking, automatic import of bank transactions, and integration with payment services like PayPal, Go Cardless, and Stripe. It also offers sales tax reporting and multi-currency invoicing.Does FreeAgent use AI?
Yes, FreeAgent uses AI to help automate tasks such as explaining bank transactions. Since June 2020, FreeAgent has been using machine learning to categorize bank transactions accurately, saving time and reducing the risk of data entry errors.Are there any additional costs for features like receipt capture?
Yes, there is an optional add-on called Smart Capture Unlimited, which allows for unlimited use of the receipt-scanning tool. This add-on costs $6 per month.Can I integrate FreeAgent with other tools and services?
FreeAgent connects easily to various digital tools, including email accounts, phone calls, and VOIP services. It also offers an Open API for custom or more complex integrations, and you can use Zapier for many other integrations.How does customer support work for FreeAgent?
FreeAgent’s customer support is based in the UK. While this might be a consideration for some users, the support team is available to assist with any issues or questions you may have.Can I cancel my FreeAgent subscription and download my data?
Yes, you can easily cancel your FreeAgent account from within the software and download your data at any time. There are no setup fees or penalties for cancellation.Is FreeAgent scalable for growing businesses?
FreeAgent offers a single pricing plan, which can be a limitation for growing businesses that might need more advanced features or scalability. However, it does offer unlimited clients and invoices, which can be beneficial for many small businesses. FreeAgent - Conclusion and Recommendation
Final Assessment of FreeAgent
FreeAgent is a comprehensive and user-friendly accounting software that leverages AI to streamline financial management for small businesses and freelancers. Here’s a breakdown of its key features and who would benefit most from using it.Key Features
Bank Feeds and Reconciliation
FreeAgent allows you to connect your bank account, automatically importing transactions and using AI for smart categorization, which saves time on bank reconciliation.Invoicing and Estimates
The software offers prebuilt invoice templates, recurring invoices, and the ability to convert estimates into invoices. It also supports online payments through platforms like PayPal, Go Cardless, and Stripe.Expense Tracking
FreeAgent includes an expenses tool with dropdown options to ease the process of claiming allowable expenses. It also supports recurring journal entries.Cash Flow Forecasting
Users can track their business performance, including incoming and outgoing cash flows, and view a short-term cash flow forecast.Multi-Currency Support
The software supports multi-currency bank accounts, making it suitable for businesses with international transactions.Mobile App
FreeAgent offers a mobile app that allows you to explain transactions, track your business performance, and search transactions on the go.User Experience
FreeAgent is praised for its ease of use, with a user-friendly interface and clear navigation. The setup process is quick, and the software provides brief introductions to each feature to help new users get started. However, there are some minor oversights, such as the lack of a search function in the price list and the chaotic appearance of the bank feeds screen.Support
The support provided by FreeAgent is excellent, with jargon-free explanations and both in-app bot support and live chat available.Pricing
While FreeAgent is feature-rich, it comes with a significant price tag. The cheapest package starts at £9.50 per month for the first six months, increasing to £19 per month thereafter. For limited companies, the cost is even higher, starting at £16.50 per month before rising to £33 per month after the introductory period.Who Would Benefit Most
FreeAgent is ideal for small businesses, freelancers, and sole traders who need a comprehensive accounting solution. It is particularly beneficial for those who:- Need automated bank feeds and smart transaction categorization.
- Require easy-to-use invoicing and expense tracking tools.
- Want to monitor their cash flow and business performance effectively.
- Need support for multi-currency transactions.