Free accounting software

Is there such a thing as free accounting software? You are probably reading this because you are considering buying or entering into a contract for Accounting or Bookkeeping software? If so, read on, the information below below could save you hundreds of pounds in subscription fees and hours of hair pulling with over complex or out of date software.

FreeAgent is accounting software designed primarily for small businesses, freelancers, contractors and limited companies. If you hold a business account with The Natwest Bank or RBS you can use FreeAgent software free of charge.

If you do not currently have a business bank account, Mettle (by Natwest) offer free business banking. As Mettle are part of the Natwest group, you also quality for free accountancy software too!

FreeAgent offers a range of tools to manage finances, invoicing, expenses, and tax obligations.

Here are some key features and aspects of FreeAgent:

1. Accounting and Bookkeeping: Simplifies accounting tasks by allowing users to track income and expenses, create invoices, and manage bank transactions. It offers automatic bank feeds, which means transactions can be imported directly into the software, reducing manual data entry.
2. Invoicing: Users can create and customise professional-looking invoices and send them directly from the platform. It also tracks when invoices are viewed and paid.
3. Expense Management: It allows users to capture and categorize expenses, including uploading receipts for record-keeping purposes. This feature helps in monitoring and managing business expenses efficiently.

More advanced features of FreeAgent:

1. Tax Calculations: FreeAgent helps in calculating tax liabilities by automatically generating tax estimates based on the financial data entered. It covers various taxes, including VAT, income tax, and corporate tax, aiding in the preparation of tax returns.
2. Project Management: Offers project tracking and management features to monitor time, expenses, and income.
3. Financial Reports: Various financial reports such as profit and loss statements, balance sheets, and cash flow, providing insights into financial health.
4. Integration and Accessibility: FreeAgent integrates with various other business tools and applications, such as payment systems and CRM software. It is also accessible on multiple devices, including desktop and mobile platforms.
5. HMRC Compliance: The software helps users stay compliant with HM Revenue & Customs (HMRC) regulations by providing features that aid in meeting tax obligations.

FreeAgent free accounting software aims to simplify accounting tasks for small businesses and freelancers by offering user-friendly features and automating many financial processes. However, the software’s effectiveness can vary depending on the specific needs and complexity of the business.

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Information in this article is correct at the time of initial publication, the various companies and banks included here can of course change their terms and conditions without notifying us.