It is not uncommon for freelancers to outsource their accountancy needs to third-party firms. Unfortunately, this might be a difficult task due to budgetary concerns. The other issue is that some in-house accounting systems are difficult to use or require a great deal of expertise. This gap has been bridged by FreeAgency accounting software. Let us take a look at some of the unique features associated with this package as well as a handful of benefits that can be enjoyed by the professional freelancer.
A Web-Based Platform
The first major point to note is that FreeAgent is completely based within the cloud. This is important for a few reasons. As no download is required, in-house computers will not have to sacrifice their memory. Another advantage of cloud-based accounting software centres around redundancy. As opposed to an internal system crash that may result in the loss of valuable data, cloud storage is much more reliable. Finally, this information will be quite secure and protected from the prying eyes of unauthorised third parties.
Ease of Navigation
As mentioned in the introduction, this software is intended to be used by those who may not have a great deal of experience within the accounting sector. So, it is ideal for start-up businesses and entrepreneurs who cannot allocate the time to learn more complicated types of architecture. Its dashboard is highly intuitive and easy to use. Key metrics such as cash flow reports, expenditures and current account balances are all clearly marked. Interactive links will likewise take the user to additional sections with the click of a button. So, pipeline management has never been more streamlined.
Entering data into countless discrete fields has always been one of the sticking points associated with many software platforms. FreeAgent has dramatically simplified this process. Information taken from the image of a receipt can be quickly entered into categories and handy drop-down menus will enable users to place each expense within the correct category. A comprehensive list of categories is available so that the correct options are selected. It is also possible to import bank statements and classify them by the type of transaction. In many ways, this framework is very similar to filling out any online form.
FreeAgent Accountant is directly synchronised with HRMC, so filing monthly and annual payroll reports is also much easier. This will likewise save a great deal of time and if any errors are found, they can be rectified straight away.
This cloud-based software uses the very same levels of encryption employed by banks and financial institutions. This will protect data at all times and users can remain confident that even if they access this information from a mobile device, their security is never placed at risk.
These are a handful of the major attributes associated with FreeAgent accounting software. Easy to use and highly adaptable, this package could very well be an excellent choice for freelancers who are looking to keep abreast of their financial obligations.