Beginners Guide to FreeAgent

Advantages of FreeAgent

Time Saving Features

Customise your quotation and invoices templates, you can change the appearance of templates, upload your company logo, and add your pricing list. Settings can be saved for future Invoices.

Less paperwork

FreeAgent allows you to upload your invoices and attach them to the relevant expense, thereby reducing the need for a paper trail.

Cloud-Based

FreeAgent is cloud-based. This means you can access the software from anywhere, at any time that suits you. This is where the mobile app comes in handy.

User Interface

FreeAgent has recently undergone a revamp resulting in a much better user interface and not to mention additional options that further enhance your experience of using the software.

Great Overview of financial Position

FreeAgent provides a simple to understand monthly Cashflow of sales and expenses, not to mention, the Invoice Timeline that shows sales invoices raised and amounts that are outstanding. It is great for keeping track of unpaid invoices. 

Time Tracking

FreeAgent allows you to electronically track the time you have spent on an assignment. This is particularly helpful if you are looking to increase efficiency, save time and increase profits. 

Bank Feeds

Once connected, this works perfectly, making bank reconciliation incredibly easy. Compared to other software packages, Freeagent bank feeds are seemless and reconciled on an on-going basis. Whereas other packages require you to match and allocate and complete a separate bank reconciliation.

Disadvantages of Using FreeAgent

Unusual Transactions

In FreeAgent these can be tricky to categorise as it requires you to have accounting knowledge to select the best option and categorisation.

Mobile Version

The mobile version has less options than the desktop version. However, it still allows for all the key elements to be performed.

Uploading Receipts

When explaining bank transactions, it is necessary to click the ‘More Options’ to add a receipt number. With Making Tax digital being phased in by HMRC in 2026, this option should be easier and more user friendly.

Text e-mail Alerts

It would be great to receive an email or a text alerts. When, for example: payments are received from unpaid sales invoices, or, there has been no activity within a set time. All of which can be changed according to the user’s preference.