Cloud-based accounting software has transformed the way contractors interact with the financial side of their business, and with the implementation of making tax digital it has become an essential part of running a Limited company. In this article we’ll look at why we chose to partner with FreeAgent, and how their award-winning solution can help you run your business more efficiently.
What is FreeAgent Accounting software?
FreeAgent is a cloud-based accounting solution designed by contractors, with contractors in mind and offering features specifically tailored to their unique requirements. You can track billable hours, manage project expenses, and invoice clients effortlessly—all within a single platform.
How can FreeAgent benefit you as a contractor?
FreeAgent accounting software offers a solution for managing your business finances easily from any device with an internet connection.
Hands free accounting
Upload your bank statements, receipts, invoices and expenses and FreeAgent will give you automatic, real-time accounts. The service also allows for automated bank feeds, allowing you to reconcile and categorise your transactions with just a few clicks.
Real time information
Because FreeAgent updates in real-time, you can be confident that you and your accountant are always looking at up to date information.
Time saving features
FreeAgent’s automation features allow you to save valuable time by streamlining repetitive tasks. From automatic expense categorisation to recurring invoicing, FreeAgent automates various aspects of financial management, allowing contractors to focus on delivering high-quality work to their clients.
Invoicing features
Send personalised invoices, and set the payment to be automatically chased, include unbilled items, like expenses, and easily convert a quote into an invoice. Again, all this can be done online from any device.
Tracking options
Tracking your expenses has never been easier, as FreeAgent allows you to track bank payments and out of pocket expenses while smart capture allows you to instantly match a receipt to the corresponding bank transaction, or automatically create a new expense entry.
Security
There is an obvious security concern in dealing with your business finances online. Fortunately, FreeAgent store your data in some of the most secure data centres in the country, under 24/7 security. All information is securely transferred to FreeAgent’s backup servers several times an hour, so even if your computer crashes you don’t need to worry about losing any of your accounting info. FreeAgent also encrypts all transactions using the same cutting-edge technology that banks use, ensuring your personal and financial info are protected with multiple layers of security.
How FreeAgent helps your accountant
FreeAgent allows you to give us access to your information, meaning your accountant can see a complete picture of your business finances in real time. This helps us to advise you and help you grow your contracting business and reach your personal goals, because our insights will be based on complete and up to date information.
If you have questions or if we can help in any way please call our expert team on 01296 468483 or email info@orangegenie.com.