Staying on top of your supplier payments isn’t the most glamorous part of running your business, but keeping track of costs is crucial for managing cash flow.
To make this process easier, the Bills area of FreeAgent has just been given a major makeover, including the introduction of the long-awaited and oft-requested support for multi-currency bills. So let’s take a look at the big reveal…
You can now see an individual page for each bill (just like you can for invoices) which shows you information like amounts, due dates, payment statuses and more. You can also click through to the relevant bank transaction if a bill has been paid.
The other big change is that you can now create bills in foreign currencies. Any foreign currency bills will be revalued against your native currency daily until the bill is paid, at which point the currency gains or losses will be realised.
Check out our Knowledge Base for more info on how foreign currency bills work.
New Connections area
To prepare the way for some exciting new features that are coming soon, we’ve also introduced a brand new Connections area to FreeAgent, which you can access from the top-right navigation menu.
This is the new home for connections with HMRC (if you file MTD VAT returns), as well as our new Open Banking bank feeds and integrations with other third parties. As always, you can find out more about this new feature over on our trusty Knowledge Base.