Digital accounting software is essential if you are looking to streamline your admin and free up your time to focus more on growing your business. With a range of software tools available, linked to handy mobile apps too, you’re spolit for choice.

We’ve looked at Quickbooks and Xero previously and now it’s time to have a look at FreeAgent, Winner of the 2018 Accounting Excellence Awards, Small Business Accounting Software of the Year award.

FreeAgent has all the features you need to keep your small business finances on the right track, including:

+ Estimates and Invoices – Send and track professionally designed estimates and invoices.
+ Expenses – Never lose a receipt – simply snap a photo with your phone and upload.
+ Time Tracking – Record all your time with the in-built stopwatch or smart timesheets.
+ Self Assessment – Fill and file your Self Assessment tax return directly to HMRC from the app.
+ VAT – Review automatically generated VAT returns and file with a single click.
+ Corporation Tax – Forecast your Corporation Tax bill ahead of time to avoid any nasty surprises.
+ Dashboard – Monitor cash flow at a glance and see when your tax bills are due.
+ Banking – Connect FreeAgent to your bank accounts to automatically import transactions.
+ Projects – A bird’s eye view of the performance of your income, expenses, and profitability.

FreeAgent have also put together a handy guide about Making Tax Digital. The government’s Making Tax Digital (MTD) initiative means that UK businesses will need to store digital records and submit updates to HMRC using recognised accounting software.

MTD for VAT is already here! All businesses with VATable sales above the VAT threshold (currently £85,000) are now required by law to store financial records digitally and submit VAT returns from MTD-compatible accounting software.

A further proposed roll out around 2021 will see other businesse types following the MTD route. Read more…

If you think that FreeAgent is something your business would benefit from, get in touch with us and use our special discount for new sign-ups. To see our other suggestions of cloud based accountancy softwares, please read our past blog: About Quickbooks, FreeAgent & Xero…

If you’d like to get involved with or need help with FreeAgent or any other digital accounting software call our friendly team on on 01752 895648.