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FreeAgent Accounting Experts

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    FreeAgent is cloud-accounting software designed for small business owners to manage their business finances. The software is ideal for freelancers and contractors. If you are a business that banks with Natwest or Royal Bank of Scotland, FreeAgent is free as part of their banking provision.

    Spotlight Accounting, FreeAgent partners

    As a FreeAgent partner accountant, Spotlight Accounting has full access to a client’s FreeAgent account, enabling their dedicated accountant to access their accounts and provide support and assistance.

    Accountants in the partner programme have to have an understanding of how the software works so that they can support clients with their accounts.

    Services Spotlight Accounting offer using FreeAgent

    Spotlight Accounting support clients that are using FreeAgent with the following services:

    1. Software set up
    2. Preparation of annual accounts
    3. Preparation and submission of corporation tax returns
    4. Preparation and submission of VAT returns
    5. Self-assessment tax return preparation and submission
    6. Cash flow forecasting
    7. Planning and advice services

    What is FreeAgent cloud-accounting software?

    FreeAgent software is designed to manage small businesses with their accounts. The software can deal with all aspects, including sales invoicing, processing purchase invoices and expenses, and recording bank transactions. VAT returns can be filed directly from the software.

    The software also has some nifty additional tools, such as the FreeAgent app, customer estimates, time tracking, payroll and project management.

    The software also integrates with other apps such as Dext, Stripe, Shopify, Woo Commerce and Go Cardless, making it easier to manage accounts.

    Benefits of using FreeAgent

    The main benefits of FreeAgent are that all the account information and transactions are in one place, and the software can give business owners the data that they need at a click of a button.

    This can include:

    1. Sending out a customer invoice via email rather than in the post
    2. List of all customers that have not been paid
    3. List of all invoices and expenses that need to be paid
    4. Profit and loss reporting showing the income and expense of the business
    5. Estimation of tax that is due to HMRC
    6. Using the project’s function to track costs and profitability of jobs and services delivered to clients
    7. Tax timeline so that deadlines aren’t missed

    As a partner accountant, Spotlight Accounting can also access client accounting data to help support them.

    Which type of business is FreeAgent suitable for?

    FreeAgent is suitable for small UK businesses, including contractors and freelancers. Small business clients love the award-winning software which helps manage their accounts and tax.

    Can I use FreeAgent accounting software for Making Tax Digital?

    Yes, Making Tax Digital for VAT has been in force for a while now, and FreeAgent is an HMRC-compatible software.

    When making tax digital for sole traders and landlords comes into effect from April 2024, then the software will be able to send the required quarterly submissions to HMRC.

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    Frequently Asked Xero Accounting Questions

    As a partner accountant, Spotlight Accounting can help you switch from your current accounting software. Opening balances, bank transactions and contacts can all be imported. The software can also import up to two years of historical data if needed.

    It is always best to speak to your accountants when switching software, as experience shows that clients who try to do it often end up in a pickle. Also, your time is much more valuable than spending hours importing account data. Accountants do this day in and day out - so leave it to the experts!

    FreeAgent is HMRC approved for Payroll, VAT and Making Tax Digital for self-assessment - including both sole traders and landlords.

    Monthly fees are between £10 and £29 per month plus VAT; you can find more about the pricing of this award-winning software here.

    freeagent approved partner

    Contact Spotlight Accounting today!

    Moving accounting software can seem daunting, and choosing the right software to deal with your accounts and taxes can be difficult. At Spotlight Accounting, your dedicated account manager can help you select the right software and help manage the process of getting you set up.

    We also help existing FreeAgent users by offering accounts and tax services they can rely on to support their growth.

    Ready to work with us?

    If you like the sound of what we do and want to work with us, let’s talk. If you’re worried about switching from your existing accountant, don’t.

    It’s easier that you think – 27% businesses work with an accountant that they want to switch from. The process is all dealt with by us and we make it as painless as possible.

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