xero or freeagent?

[Darren at Fox-Bartfield]

Freeagent

Excel is perfect for my needs still...

How are you managing Making Tax Digital when it comes online from next year? Manual submissions?

[Chart Accountancy]

Xero is more sophisticated software in terms of reporting functionality which could make it feel slightly more complex for a one person contractor company. FreeAgent is perfect for contractors as it offers everything for a contractor company. It terms of comparison, FreeAgent calculates an estimate of the corporation tax and also has the mileage rates,fuel rates synched with the HMRC rates. In Xero unfortunatelly, you would have to manually calculate this but nevertheless is still great software. As suggested, you can run trials on both and see which would win for you. It is also important to have an accountant who understands the software.

[The Procrastinator]

I've just recently signed up with FreeAgent (via my accountant) for my new solo ltd and it covers all the core requirements for contractors. XERO is nice but much more geared for SMBs and has a much broader functionality that may not be that useful, but can certainly be used by contractors. FreeAgent also as some handy features for IR35 calculations. Unless you have some specific requirements that relate to your business i dont think you can too far wrong with FreeAgent. Very easy to use, so far so good!

[css_jay99]

Free agent on its website £29+vat monthly. That's a lot of money assuming you are not using an accountant or you just need a accountant for a cursory glance at year end. similar sage offering admittedly more complicated (if not used accustomed to) works out cheaper

[TheCyclingProgrammer]

Free agent on its website £29+vat monthly. That's a lot of money assuming you are not using an accountant or you just need a accountant for a cursory glance at year end.

Even if you're on a low-ish day rate (e.g. £300-400/day), £29/month or just less than £1/day is not "a lot of money".

[Fred Bloggs]

Even cheaper with a Nat West business bank account.

[css_jay99]

Even if you're on a low-ish day rate (e.g. £300-400/day), £29/month or just less than £1/day is not "a lot of money".

£350ish yearly just for accounting software is not a lot of money?

[TonyF]

£350ish yearly just for accounting software is not a lot of money?

What's the opportunity cost?

[TheCyclingProgrammer]

£350ish yearly just for accounting software is not a lot of money?

No, it’s not. If it saves me a day of my time vs not having the software then I’m already quids in.