A web-based accounting solution developed specifically for freelancers and small business owners that brings together all the necessary features.
FreeAgent is an online accounting software that integrates a large number of helpful features for supporting freelancers and business owners to manage invoices, bills and expenses, create estimates and measure profitability. It also enables users to oversee bank transactions, run projects, deploy the time-tracking tool and build a list of contacts.
In the beginning, the app requests a brief set of information about your business, such as the official start date, when ended the first accounting year and the date from which you want to keep the books. Afterward, add some banking details like the bank name, account number, opening balance and specify if the account contains not only business transactions but also private deals.
The app has a very well-organized dashboard where it presents the cash flow overview, monitors incomes and expenses, lets you upload bank statements and groups all the primary features into the left side menu.
Include customers and suppliers in a list of contacts, one by one, or import their data from email or Basecamp. Create projects, then connect various tasks to them and use the online timer to track the hours spent working on each undertaking.
You are going to need those details to invoice clients and get paid for the effort done. Before sending the invoice, upload a company logo in the “Settings” area, set up an email reminder to deliver if the customer does not transfer the money on time and design a thank you email template, then specify the payment term and the currency.
The app also proposes a comprehensive list of spending categories to let you optimally record expenses and gives you the opportunity to attach images of the corresponding receipts.
In the end, examine reports to see what does your business own and owe at a particular moment, view if your incomes surpass expenses, identify the customers that still have to pay their bills and show all transactions made this fiscal year.
FreeAgent aims to help you manage projects, design tasks and track them with the online timer, build a list of customers and suppliers, import transactions from a bank account, monitor the cash flow and view the profitability. Send estimates and invoices, set up automatic reminders, record expenses, and bills, attach evidential documents and analyze reports to get a complete overview of your business.