FreeAgent Accountants

Are you looking for a way to manage your accounts with ease? With FreeAgent, you can manage all your bookkeeping tasks in one place. Plus, we offer free training, included in our accounting package, so you can use FreeAgent effectively, saving you time and money.

What is FreeAgent?

FreeAgent is a cloud-based accounting software platform specifically designed for small businesses, freelancers and contractors in the UK. The software provides a comprehensive solution for managing businesses finances, tax obligations and accounting requirements all in one place.

Many limited companies choose to use FreeAgent due to its user-friendly interface and UK-specific tax features. Enhance your bookkeeping process as soon as possible with Nexus Accounting.

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How Businesses Can Use FreeAgent

We know every business has their own methods of bookkeeping and account management, but with FreeAgent, you can streamline your current accounting process enabling you to focus on other areas of your business. Here are a few examples of the ways FreeAgent accounting can be used in your business:

Daily Financial Management: Businesses can use FreeAgent to record income and expenses, reconcile bank transactions and maintain real-time visibility of their cash position. The intuitive interface makes it easy to stay on top of day-to-day finances without accounting expertise.

Client and Project Management You can create contacts for clients, track project profitability, monitor billable hours and manage the complete invoicing cycle from estimate to payment. This end-to-end approach helps businesses maintain professional client relationships.

Tax Compliance and Submission: FreeAgent allows you to complete and submit VAT tax returns directly to HMRC, prepare for Self Assessment tax returns and calculate Corporation Tax liabilities accurately. The software guides users through these processes with compliance checks and helpful tips.

Payroll Processing: Limited companies can run payroll for directors and employees, calculate PAYE and National Insurance contributions, and generate payslips within the system. This integration keeps all your financial information in one place and ensures payroll-related tax obligations are properly handled.

Financial Planning and Forecasting: Using the reporting tools, you can analyse performance, identify trends and make informed decisions about future investments or expansions. The cash flow projections are particularly valuable for anticipating potential shortfalls or opportunities.

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How You Can Benefit From FreeAgent

Having everything neatly organised in one piece of software like FreeAgent can help small businesses oversee all of their accounting information. But, that’s not all! Our FreeAgent Accounts Package also helps freelancers, contractors, and small businesses with:

UK Tax Compliance and Automation

FreeAgent automatically calculates VAT, Corporation Tax, Self Assessment and PAYE obligations based on your business transactions. The software is fully Making Tax Digital (MTD) compliant and you can submit VAT returns directly to HMRC with just a few clicks.

Comprehensive Financial Dashboard

Users get an immediate overview of their business finances, including cashflow projections, profit and loss, tax timelines and invoice status from a single dashboard. This helps business owners make informed decisions without needing advanced accounting knowledge.

Time-Saving Invoice Management

Create professional invoices with customisable templates, set up recurring invoices for regular clients, and receive automatic notifications when payments are overdue. The system also tracks when clients view invoices and can send automatic payment reminders, improving cash flow.

Simplified Expense Tracking

Capture receipts with the mobile app, categorise expenses automatically, and reconcile business spending with minimal effort. This streamlined approach helps maintain accurate records for tax purposes while reducing the administrative burden of expense management.

Bank Feed Integration

Direct connections with most UK banks allow the automatic importing of transactions, reducing manual data entry and the risk of errors. These secure connections keep your accounts up-to-date and make bank reconciliation a much simpler process.

Comprehensive Reporting Capabilities

Generate detailed financial reports including profit and loss, balance sheets, aged debtors/creditors, and tax forecasts with just a few clicks. These professional reports provide valuable insights for business planning and can be shared directly with stakeholders.
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Elevate Your Bookkeeping with FreeAgent Today

Take your business accounting to the next level with FreeAgent accounting software, the most efficient way to handle your bookkeeping. With detailed training provided at the beginning of your contract with us, you can instantly see the difference a comprehensive accounting software can make to your account management.

Get in touch with our FreeAgent accountants today for your free Nexus account included in our accounting package at no additional cost!

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Testimonials

  • Steve Watson
    Great service for contractors. When I started back into the freelance market in 2020, I wanted a local contracting service for my company. Read a few reviews and opted for Nexus Contractor Accounting. What a good choice! Provided everything I needed to help me set up my company, great service, with quick, professional advice when needed.
    Steve Watson
  • Jo Burch
    Excellent service. I moved to Nexus from one of the big companies where I was just a number. Nexus provide me with a far better service for 2/3 the price. It’s more personable and I get better advice. I can highly recommend them. I also use the Freeagent portal via them and it’s a really fab piece of software. Makes everything a piece of cake.
    Jo Burch
  • Janice Reed
    Nexus Accounting are fantastic, I have been with them for a few years now and would not consider going anywhere else. I have worked with other accounting companies before Nexus, and they all fell short of the service you receive from Nexus. Whenever I contact them, I get instant instant helpful attention, not a message saying they will get back to me, and over the years they have gone above and beyond to support me with issues that I'm sure are outside an accounting remit. The systems they use are simple and easy to follow and fit perfectly with the business I do. I would recommend them in an instant.
    Janice Reed

FAQs

1Is FreeAgent HMRC recognised?
Yes, FreeAgent is fully recognised by HMRC as an approved Making Tax Digital (MTD) software provider for VAT, Income Tax Self Assessment and Corporation Tax. The platform maintains direct digital links with HMRC systems, allowing for compliant tax submissions and communications without leaving the software.
2What does FreeAgent do?
FreeAgent is a comprehensive cloud-based accounting software that helps businesses manage their accounts. Here are just a few examples of what FreeAgent can do for your business: Invoicing Expense Tracking Project Management Payroll Tax Calculations Financial Reporting Imports Bank Transactions Creates Professional Invoices Calculates Tax Obligations Provides Real-Time Financial Insights Enables Direct Tax Submissions to HMRC
3Do I need an accountant with FreeAgent?
While FreeAgent significantly simplifies bookkeeping and provides everything you need to handle day-to-day accounting tasks, most users shall still benefit from an accountant’s expertise for tax planning, compliance reviews and year-end processes. At Nexus Accounting, we work collaboratively with you through FreeAgent and other accounting software so we can have access to your real-time financial data, provide guidance remotely and advise you on next steps with ease.