There is an endless pool of resources for the freelancer – from design tools to developer resources – many of which that we have covered here and will continue to do so. However, one tool often overlooked is accounting. Whether it be for freelancing or a way to manage your reseller accounts, FreeAgent is an excellent online account management program designed to provide a solution.
FreeAgent has a timeline feature that helps keep track of all invoices – whether they’re due, overdue or paid. For outstanding payments, FreeAgent tracks the payment and automatically creates and sends out invoices in the form of a PDF directly to your client, effectively freeing up your time chasing arrears.
These invoices are created to your requirements through the provided invoice templates. FreeAgent even calculates payments based on currency too. If you operate in the US and are billing a UK client, FreeAgent accesses the current exchange rate then recalculates that for you.
FreeAgent also integrates your online bank accounts, providing your with a detailed breakdown of all your transactions. To incorporate your bank account, you simply upload your statement inOFX, QIF or CSV formats.
Accessing your finances is just as important as all the very many features. Thankfully FreeAgent makes accessibility a simple process as everything is web based. FreeAgent can be accessed via Mac or PC as well as mobile. The actual interface is very easy to navigate around and intuitive to use and, as the application is cloud based, the appearance and settings of your account is the same regardless of the device you intend to access it with.
With all these key features, FreeAgent is understandably tempting, but the small print with this area of application would be security. Fortunately FreeAgent uses 256 bit SSL connections and runs off of two separate data centres with a 99.95% uptime. Data is regularly backed up offsite and duly encrypted for complete peace of mind.
One additional feature certainly worth mentioning is the ability to upload receipts to add to your expenses. This is a great feature as not only can expenses be tracked, but they are also in a centralised location that can be accessed from any authorised device via the cloud.
Try Before You Buy
The free trial is for a full 30 days – more than an adequate amount of time to get acquainted with how useful the application really is. Prices start at £15 per month for an individual to £25 per month for a limited company. Very affordable indeed. FreeAgent is aimed primarily at UK users, but is also available as a Universal Account for those outside the UK for only $20 per month. The differences between the accounts are specifically tax calculations.
Whether you already use an accounting program or currently doing everything manually, trialling FreeAgent for a month may literally pay off in the not too distant future.
Using an alternative application? Do let us know your own experiences as there are so many out there to choose from.