FreeAgent is cloud-based accounting software that lets you create and send recurring invoices, create estimates in seconds, track income and expenses, and more. Its features include banking, project management, a timer tracker, and a mobile app. It costs $12 per month for the first six months, and it’s best for any small business that needs accounting software with single-tier pricing.
FreeAgent Pros and Cons
Well-designed and easy to use
Very few report formats
Comprehensive at-a-glance dashboard
Its single pricing plan structure is not for those who want to scale their business
Prompt and friendly customer support
Who FreeAgent Is Best For
- Any small business that needs accounting software with single-tier pricing: FreeAgent is built for small businesses like freelancers, consultants, and contractors who need accounting software with a single pricing plan. It caters to any kind of business like traditional trades, professional services, and retail and hospitality.
FreeAgent offers a single tier for users within the United States, which comes in at $12 per month for the first six months, and then $24 per month afterward. It includes sales tax reporting and multicurrency invoicing. Those who pay upfront get the first 12 months for the price of five. After which they can get 12 months for the price of 10.
*Note that the plan, as mentioned above, is only for users in the US and that it offers different pricing for businesses within and outside the United Kingdom. You may visit its website to learn more about its pricing details for the UK and global users.
FreeAgent Alternatives 2020
Ecommerce Accounting Software
(Best overall) Businesses looking for an ecommerce accounting software for tracking income expenses and products sold
Existing QuickBooks users looking for a less expensive alternative
Businesses with small budgets that want accounting software that can meet their needs
Freelancers looking to streamline invoicing and payment for repeat customers
Businesses that need to automate complex financial processes and merge data across hundreds of entities in minutes
In addition to industry-specific software, your business might be served well by general-purpose small business accounting software.
From invoice tracking to expenses management and cash flow monitoring, FreeAgent has all of the features that you need to manage and track your finances. If you are skeptical about using it, then you may try it out for free for 30 days. Here’s a rundown of FreeAgent’s most essential features to help you decide whether or not it’s for you.
FreeAgent’s drag-and-drop dashboard displays essential financial data, such as cash flow, live profit and loss, and taxes. It also includes live blank balance sheets for all accounts, year-to-date profit and loss snapshots, and timelines of important tax deadlines.
Below is how a default FreeAgent dashboard looks like:
The system lets you create recurring invoices that can be set to send automatically. Your invoice supports any currency, and it includes daily exchange rates imported from XE.com, a currency exchange service provider.
Simply take a photo of the receipt using a mobile device, import it into the platform, and it will set up recurring expenses automatically. It enables you to reconcile costs and expenses with business bank accounts, monitor supplier invoices and accounts payable status, create reports by dates and employees, and more.
Its built-in time tracker allows you to monitor the time spent on a project using a desktop or mobile. You can track billable and unbillable time, generate automated timesheet reports that can be emailed to clients and create invoices from unbilled time. You may use its built-in stopwatch or enter time manually for accurate tracking.
FreeAgent’s mobile app enables you to track time, reconcile bank transactions, snap expenses receipts, as well as create, send, and track invoices while you are on the move. You may download its mobile app on Google Play or the App Store.
Most Helpful FreeAgent Reviews
Users who gave positive FreeAgent reviews appreciate that it is neat and user-friendly. Others like its complete comprehensive dashboard while some praised its friendly and responsive customer support. Meanwhile, those who left negative reviews wished that it had more helpful available formats and that its invoices were more customizable.
User-friendly and efficient
One user who left a positive review of FreeAgent on Capterra shared that it is extremely easy to learn and use. He added that it is efficient and effective and that it has freed up a lot of his time doing admin work.
Its pricing plan is restrictive
One user who left a negative review of FreeAgent on Capterra said that its pricing plan is a bit limiting, explaining that it’s not an ideal option if you are planning to grow and scale your team.
FreeAgent Frequently Asked Questions (FAQs)
What banks does it support?
FreeAgent supports the following banks:
- Bank of America
- USAA Bank
- Boeing Employees Credit Union
- TD Bank
- TwinStar CU Bank
- Wells Fargo
- SECU CU Bank
- Chase Bank
- Capital One 360
- CitiBusiness Online
- PNC Bank
- Burke & Herbert Bank and Trust
- CitiBusiness Online
- PNC Bank
- SunTrust Business Banking
What payment options does it accept?
FreeAgent accepts payments made through credit and debit cards, Direct Debit, Stripe, GoCardless, and PayPal.
Is my data safe with FreeAgent?
Yes, it is. FreeAgent uses an advanced encryption system called secure sockets layer (SSL) and partners with the Bunker, a reputed web hosting provider, to keep all your data safe and protected.
What software does it integrate with?
It integrates with the following software: Stripe, PayPal, Sellwire, Capsule CRM, Contactzilla, Fractal, Float, Basecamp, Cushion, Zapier, and more.
Our Top Ecommerce Accounting Providers
In case you still aren’t sure if FreeAgent is right for you, then this article on the best ecommerce accounting software is a review of our top choices. In this guide, we looked at a variety of solutions and narrowed our recommendations down based on cost and user-friendliness as well as their ability to import sales data from ecommerce websites, pay bills, invoice customers, and accept online payments from customers.