FreeAgent is a cloud-based accounting software that helps users manage their profit, payroll, tax returns, invoices, and other accounting functions. Its features include time tracking, sales tax reporting, and a mobile app. The software costs $12 per month, and it’s best for freelancers and project-based corporate accountants in small businesses.
FreeAgent Pros and Cons
Well-designed and easy to use
Report formats are not that helpful
Impressive multi-currency functionality
Doesn’t have a lot of CRM integrations
Prompt and friendly customer support
Who FreeAgent is Best For
- Project-based corporate accountants: FreeAgent helps small businesses and their accountants simplify essential workflows, such as invoice and expense management, project management, and sales tax management.
- Freelancers that need to send billable hours to clients: Its time tracking tool enables users to monitor how many hours they spend on a project and bill their clients based on that data.
The FreeAgent pricing guide shows that it costs $12 per month for the first six months, and then $24 per month afterward. Those who pay upfront get the first 12 months for the price of five; after which, they get 12 months for the price of 10.
FreeAgent Alternatives 2020
Businesses that want the most widely used small business accounting software that scales as they grow
Solopreneurs and freelancers who need to streamline customer invoicing and payment collection
Businesses in the nonprofit, manufacturing and distribution, professional services, contracting, and retail industries
Businesses that use other Zoho products like Zoho CRM
From invoice tracking to expenses management and cash flow monitoring, FreeAgent has all of the features that users need to manage and track their finances. Here’s a rundown of FreeAgent’s most essential features.
FreeAgent’s dashboard displays essential financial data, such as cash flow, live profit and loss, and taxes. This dashboard has a drag-and-drop functionality, and it includes live blank balance sheets for all accounts, year-to-date profit and loss snapshots, and timelines of important tax deadlines.
This tool allows users to track time spent on a project using a desktop or mobile. It helps them monitor both billable and unbillable time, generate automated time sheet reports that can be emailed to clients, and create invoices from unbilled time. Users may utilize its built-in stopwatch or enter time manually for accurate tracking.
This automates expenses reporting, saving users time and money. Simply take a photo of the receipt using a mobile device, import it into the platform, and it will set up automatically-recurring expenses.
Users have the flexibility to manage their numbers on the go with FreeAgent’s mobile application. The app enables them to track time, reconcile bank transactions, snap expenses receipts, as well as create, send, and track invoices while they’re on the move.
Most Helpful FreeAgent Reviews
Users who gave positive FreeAgent reviews said that it is simple and easy to use. Others mentioned that its multi-currency functionality is great, while some like its prompt customer support staff. Meanwhile, those who left negative reviews commented that its reporting system needs improvement and that it doesn’t have a lot of CRM integrations.
Works in multiple currencies
“I wanted an accounting package that would work in multiple currencies (without charging a huge amount for the facility) and would follow my bank and PayPal accounts. FreeAgent does all of this and handles a lot of a double-entry bookkeeping side of things for me too—but without looking like a bookkeeping package. Customer support is always prompt, friendly, and helpful.”
Reporting system needs improvement
Users who left negative reviews complained that its reporting formats are not easy to understand. They explained that the reports could have been better if they were in PDF format instead of CSV or XLSX.
FreeAgent Frequently Asked Questions (FAQs)
What does FreeAgent’s free trial cover?
Its 30-day free trial includes all of the features of the paid package. Those interested may sign up for the free trial even without a credit card.
How does FreeAgent ensure the safety of its customers’ data?
As a Cyber Essential Plus-accredited accounting provider, FreeAgent uses multiple layers of security to protect its customers’ personal information. Data is safely stored in high-end centers and closely monitored to prevent physical and logical attacks.
Where can I download its mobile app?
You may download its mobile app from Google Play and the App Store.
Our Top Accounting Software Provider Picks
If you aren’t sure that FreeAgent is right for you, then this article on the 4 Best 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 features like detailed financial statements, invoicing, and bill tracking.