Good day, and welcome to Startup Savant’s FreeAgent Accounting Review where we breeze through this software’s pros and cons, package options, pricing and more. Our goal here’s to help you decide whether this is the right solution for your platform, or whether you’d prefer something more along the lines of our favorite, Xero. Let’s dive right in. Enjoy!
Popular FreeAgent Accounting Features
10 FreeAgent Pros
- Tracking the number of hours worked is so easy because you can enter time-slips or use the built-in stopwatch to accurately record every last second.
- Invoice templates that create professional and accurate invoices which you can send in a click.
- Has professionally made templates make creating estimates easier. You simply select a template, add a logo, and FreeAgent generates a design for you.
- Has an invoice timeline which enables you to view paid, due or overdue bills.
- Has a dashboard that contains everything from invoices, expenses, bank accounts and a lot more, so you can view/manage everything in one spot.
- Produces monthly cash flow through reports so you can monitor where your money’s going.
- Generates easy-to-read snapshot views of profit and loss to help you improve.
- Has multi-language and multi-currency support!
- Simple expense tracking tool that helps you monitor expenses incurred which are divided into categories.
- You can set-up your sales tax and FreeAgent will apply this to all your sales and purchases.
- Depending on your budget, the price might be a little expensive at $24/month. Xero’s Starter package is as feature-packed and only $6.30 for the first 6 months, then $9 thereafter.
- Lacks the ability to assign tasks or track documents.
- Some people tap into FreeAgent with high expectations then feel the software lacks functionality.
- Doesn’t have a forecasting and budgeting tool.
- Lacks the ability to automatically record recurring invoices and make payments like Xero.
A Quick Look Inside FreeAgent
Now let’s check out the screen shots below to take a look at the software and get an idea of how it presents data and might feel to use. This first shot shows different types of data – cashflow, banking, profit & loss, etc. Pretty clean and tidy.
Once you’ve synced your business accounts you’ll be able to create nice reports and summaries like the one below. So much better than winging it mentally like so many entrepreneurs out there doing things the hard(er) way.
The time tracking tool below is a feature that’s adored by solopreneurs, individual contractors and freelancer-style professionals. Not too shabby, right? That said, we could’ve put tons more screen shots in this FreeAgent Accounting Review to melt your brain but these should be enough to give you the gist.
FreeAgent only has one plan which is priced at $24 every month. For this price, you’ll get all the features that FreeAgent has to offer, plus customer support, sales tax reporting and multi-currency invoicing. Here’s a quick-list of other features you’ll be able to use:
- Estimates tool
- Invoice Templates
- Expense Tracker
- Project Management feature
- Time Tracker
- Bank Reconciliation
- Automated Accounting
- Configurable Sales Taxes
Listen, FreeAgent Accounting software's great for its own reasons and you may absolutely love it! We prefer Xero - it's as rich with features, less expensive, and we feel it's a bit easier to use, manage, and implement into the 21st century entrepreneurial lifestyle.
Discover Xero Or Try FreeAgent