FWIW I find FreeAgent's out of pocket expense handling one of its weakest features. I do actually record my expense claims in a spreadsheet and enter them into FreeAgent in batches.
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Accounting software vs not
Collapse
X
-
-
Good stuff guys.
I'll probably start on spreadies and upgrade to Kashflow if it's too burdensome!
Many thanks!
ZComment
-
Originally posted by TheCyclingProgrammer View PostFWIW I find FreeAgent's out of pocket expense handling one of its weakest features. I do actually record my expense claims in a spreadsheet and enter them into FreeAgent in batches.Comment
-
Originally posted by northernladuk View PostI used to use the spreadsheets from SJD which I really liked. Easy to use, pretty clear but didn't do much on the calcs. Switched to an accountant using Freeagent and I love it. Autobank feeds, easy to submit stuff to HMRC, plenty of graphs, dates for submissions etc etc. I love it. Anything that gives you more control over your finances can't be a bad thing surely as long as you have the accountant in the background for questions?
Not a chance I'd go back to sending anything over. My accountant can look at my figures anytime and I get a quarterly review of my account from them proactively to boot.Comment
-
Originally posted by SpontaneousOrder View PostAre they really bank feeds? Or are they using your login details to screen-scrape?
An introduction to Bank Feeds - FreeAgent'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
-
Originally posted by SpontaneousOrder View PostAre they really bank feeds? Or are they using your login details to screen-scrape?
I am happy to spend the 30-60 seconds it takes to download and import the statementsComment
-
Originally posted by pr1 View PostYeah you have to hand over your login and password - I personally don't trust it after reading some bank small print thatif you get frauded (made up word) and you've willfully given your login and password to a 3rd party you might not be covered
I am happy to spend the 30-60 seconds it takes to download and import the statements⭐️ Gold Star ContractorComment
-
Originally posted by PerfectStorm View PostThey wouldn't be doing their jobs if they didn't include such a disclaimer... although you should be covered by the Freeagent company if they were found to be in the wrongComment
-
FreeAgent use Yodlee as the third-party agent which fetches your bank data. Their security is pretty robust IMO. FreeAgent never sees or stores your bank credentials; they're securely sent directly to Yodlee.
(I have no affiliation with either FreeAgent or Yodlee!)Comment
-
Originally posted by SpontaneousOrder View PostAre they really bank feeds? Or are they using your login details to screen-scrape?
Yodlee are supposed to be very secure but it's still very much a case of using at your own risk (including the possibility of violating your online banking terms).
Auto import also only works if you do not require two factor authentication. In my case I need to enter a OTP token (HSBC) so nothing is automated.
In an ideal world banks would provide read only limited access account credentials for this kind of thing.Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment