David Channon is a self-employed IT contractor who provides advice and consultancy to companies on their use of cloud-based tools. Gorilla Accounting is a specialist accountancy firm catering for contractor and freelance clients.
As part of its comprehensive service offering, Gorilla Accounting gives all its clients access to FreeAgent’s cloud accounting software. Here, David and his accountant, Craig McCall, Operations Manager at Gorilla Accounting, share their experiences of working together using FreeAgent.
"Compliance can be hard work for contractors - but by working with FreeAgent and Gorilla Accounting, I find it just happens!"
“When I set up my contractor business I knew that I wouldn’t want to have to deal with the tax and compliance implications of being a limited company director on my own. I decided to work with Gorilla Accounting and they introduced me to FreeAgent.
I found the software really easy to use and getting started was no hassle at all: it was just a case of popping in my company details and VAT numbers and then I was ready to go! I now use FreeAgent every day. From logging the time I spend on projects to recording expenses and mileage claims, creating invoices and using payroll, it’s become an essential part of my day-to-day business life.
There are some specific features that make FreeAgent a really clever tool for contractors: I can automatically convert the time I record into an invoice, and from there, I can add my rechargable expenses. The FreeAgent dashboard is an incredibly helpful feature, as it gives me an at-a-glance view of some of the most important information for my business. The insights I get from the tax timeline, which forecasts my tax liabilities and payment dates, and the invoice timeline, which shows how many paid, unpaid and due invoices I have each month, are particularly useful.
FreeAgent also makes it really easy for me to work with Craig, my accountant at Gorilla Accounting. He can log in and view my FreeAgent account at any time, which means he can see straight away if there’s a problem or if there’s anything I’ve missed. Craig also reviews all the transactions for my VAT returns in FreeAgent, which gives me extra confidence when it comes to VAT submission time each quarter!
When I ran another limited company in the past, I worked with my previous accountant in a completely different way. Back then, my accountant handled everything for me and I had to use a spreadsheet to create my invoices, which wasn’t ideal! What I like about this new way of working is that Craig is connected directly to my situation and my information through FreeAgent. It means I always know what’s going on with my business and have a certain measure of control, but I also have the reassurance that FreeAgent and Gorilla Accounting are handling my data in the background, and that Craig can check my figures at any time.
Contractors who run their businesses through limited companies have a lot of legislation to stay on top of and it can take a great deal of time and effort to remain compliant if you’re trying to do it on your own. I’ve found that by working with FreeAgent and Gorilla, the compliance just happens - in fact, you’d have to go out of your way not to comply! As a contractor, the peace of mind that gives me is invaluable.”
“Simple to use, with helpful features like bulk payroll - FreeAgent is a great fit for our contractor clients”
"FreeAgent is perfect for our contractor clients as it is simple to use, can be updated on the move and shows our clients exactly how much they can take from the company at any point in time.
The bank feeds, in particular, save our clients a lot of time and with FreeAgent’s mobile app, clients can even update their transactions on the go.
As accountants, we find FreeAgent’s bulk payroll feature particularly useful, as we can process payroll quickly and the payroll journals are accounted for automatically. We also think that it adds value to be able to access clients’ data on our FreeAgent practice dashboard in real time and provide advice based on their live data."