FreeAgent

[Alan @ BroomeAffinity]

Hi, after being burned badly by a developer who was supposed to be building us an all singing, all dancing online accounting solution for our clients, we have decided to cut our losses and are considering throwing our hat in the ring with FreeAgent. Do any current users have any comments generally about the system? I'm thinking mostly about the UI and how simple it is for "non-accountants". Is there anything missing that you'd like on it?

Also, for any accountants who use it, how do you find it integrates with AP software and suchlike? Do your clients feed back that the accounting/financial information is what they need, or is it lacking somewhat?

TIA

[northernladuk]

I was a big fan of the SJD spreadsheet but have parted ways and my new setup uses FreeAgent. Gotta say I'm pretty impressed. Takes a bit of time linking bank accounts to invoices etc and entering a lot of expenses takes a little longer than the spread sheet but the results are pretty impressive. All the different information you can get and auto import of bank details and so on. It's pretty impressive. I've only been using it for 4 months but I really like it. I'd say it's worth the money easily.

[cojak]

I love FA. It sorts out my invoices and VAT very easily and I and log expenses via a phone app.

I haven't really found anything that it can't do.

[TheCyclingProgrammer]

I've been using FreeAgent for over 5 years now and I'm very happy with it. It does most of the things it does very well. Its not without its faults but for small one or two person businesses I think its ideal.

Its main strengths are:

* Invoicing, estimates and time tracking all integrated
* RTI payroll support
* Handles VAT return submission, supports FRS
* Gives a reasonably accurate Corporation Tax assessment (caveats below)
* Gives a good personal tax assessment and allows directors to submit self-assessments
* Allows power users to dive in and deal with journals

My main complaints are:

* The out of pocket expenses management is quite basic, but it does the job. This could be a lot nicer.
* Doesn't support small pools allowance so my original opening asset pool (assets introduced into the business) continues to reduce each year despite being below £1000 and dealt with by way of the small pools allowance several years ago, throwing the corporation tax calculation off slightly.
* Only allows directors to submit self assessments
* Generated dividend paperwork is, IMO, not ideal if you have multiple shareholders (it generates a set of minutes/vouchers per individual person rather than one for a single dividend split accordingly). You can of course draw up your own paperwork so not a huge deal.
* Bank feeds with HSBC still require manual input due to two-factor authentication (not really FreeAgent's fault).

As you can probably tell from the above list, there isn't a huge amount to complain about. The software works well, support is responsive and my accountant is very happy to use it.

[Mojito]

FA Fan

Yup big fan - filing online from FA, realtime + across the piece view on current position on your Ltd's & employees tax position. Priceless.

I could not go back to spreadsheets and a shoebox full of receipts.

[slice16]

I've been using FreeAgent for around 2 years now and LOVE IT. I would struggle to move away from it now.

I have been on the lookout for a new accountant, and a major decision point for me was whether they would allow me to use Freeagent instead of their own. My favourite parts are:

- Invoicing
- Payroll
- Tax Calculations
- Submitting Self Assesments

As soon as you start using the API aswell, things become very powerful. I have custom powershell scripts for custom work I do for clients, and my workflow updates invoices/time management within FA.

[Fandango]

I've been using it for a couple of months, and think it's briliant (compared to sage which i was using previously)

The only additional shortcoming i think is worth adding, is the inability to do "Payment on Account" for suppliers, for scanarios where you might make regular monthly payments to your accountant say but then receive periodic bills, so it makes viewing account balances a bit tricky.

There are work arounds such as paying the money to a contra account and then reallocating it but its a bit clunky.

[Maslins]

We're an accountancy firm who's been working closely with FreeAgent for ~5 years now. Love it.

Obviously as with any bits of software there are a handful of gripes...but only minor ones. Happy to answer any specific questions you may have on the accounting practice side of things.

...and re building your own?! FreeAgent currently have ~50 staff. Granted the basic app was built to a semi decent level by the 3 founding directors, but don't underestimate how much effort goes into building this kind of thing.

[convict]

Are there any users here who used to use Kashflow? I'd like to know how it compares.

[tractor]

...

I use XERO. FA is more expensive but it does provide for CT and Divi Vouchers which Xero does not (yet).

Using Xero for VAT returns is a breeze though.