Contracting and freelancing gives you the power to set your own work hours and rates, to leverage your skills to their full potential. However, keeping track of your finances can be a headache for a one-man or woman band. Unless your accounts are in order, your bookkeeping could come back to bite you.
FreeAgent is a bookkeeping platform designed to streamline and manage your accounts, popular amongst contractors and freelancers due to its usability, versatility, and accessible interface model. Let’s take a look at how FreeAgent could banish your accounting woes forever:
Invoices and expenses made easy
Chasing that elusive payment is a guaranteed strain on your time. Almost every contractor and freelancer has suffered from late payments or cash flow problems. These issues are not only stressful to deal with; they can throw a wrench in the gears of decision-making for the future.
FreeAgent automatically sends invoice reminders to clients who are overdue, with a range of templates that remove the hassle of cross-checking your details. For a personal touch, you can even brand them.
Meanwhile, paper receipts can be photographed on your smartphone or tablet and uploaded instantly to your profile, so you’ll never have to worry that costs are slipping through the cracks of your working day.
Anywhere, anytime
You might not have the best digital or monetary proficiency in the world, but with FreeAgent it doesn’t matter. The platform packages your data into an easy-to-read format, with ingoings and outgoings tracked in graphs that leap off the screen.
Since the app is cloud-based, you don’t need to download any software that swallows up your hard drive’s memory. As long as you have an internet connection, you can log into FreeAgent on any device, giving you real-time information in the click of a button.
Your accountant will love you
Bringing a qualified accountant (that’s us!) into your venture means you’ll have a wealth of expert advice to draw on. It can be slow, however, to get a definitive answer on a query when explaining the issue via email or phone.
FreeAgent can share everything with your accountant, fostering instant, seamless communication between the two of you. Because you are both in-sync, you are able to resolve queries as they arise, with minimal delay.
Tax isn’t taxing
When it comes to the rigmarole of tax and HMRC deadlines, it’s tempting to stick your head in the sand before you’re buried under piles of documents. FreeAgent takes some of the burden off your shoulders, by counting your Self-Assessment liability continually as you work. HMRC will delight in clear and prompt tax returns, especially when you’ve partnered with an experienced contractor or freelancer accountant.
Stringing all of these capabilities together is a simple, concise approach to managing your money, so you can get the job done without getting bogged down in financial jargon. If you’re seeking intuitive support and guidance with your accounting, call us on 0161 669 4221 or email info@biaccountancy.com to sign up with FreeAgent today.
