Founded in 1989, Three Counties Accountancy (3CA) is a chartered accountancy practice for small and medium businesses in the Lake District, Cumbria and the North West. Specialising in the service sector, 3CA works with IT consultants, architects, IFAs, event organisers and authors.
Like many accounting practices 3CA has faced challenges in scaling up its business. A shortage of high calibre bookkeepers makes it difficult to grow a practice. Traditionally bookkeeping forms a disproportionately large percentage of a practice’s workload. The accounting software currently on the market is inaccessible and difficult to use by non-accountants. And so small businesses and freelancers either have to hire a bookkeeper or hand over their financial records to their accountant to process. This results in the accountant spending time doing labour intensive bookkeeping, rather than what they should be doing: offering business advice that will help the client save money and grow its business.
FreeAgent has changed that forever by putting the power back into the hands of the small business and freelancer. FreeAgent is easy to use and gives a clear picture of profit and loss which means financial decisions are easier to make. This makes running a freelance business easier.
Ed Molyneux, FreeAgent Central CEO, explains: “Most freelancers worry about their accounts. Feeling guilty they are not on top of them and fearing a nasty surprise if they were to look too closely. People go into business because they are good at what they do. Not because they are accountants. As one of our clients says “FreeAgent makes me feel smart, not stupid, about my company's finances.’”
The software has a clean and simple design, highly intuitive and usable. It will prepare VAT returns, calculate self assessed income tax and corporation tax and manage PAYE and NI. Users can monitor profit and loss, send and track invoices, track time and expenses, manage projects and payments.
FreeAgent encourages collaboration between accountant and client by allowing accountants to login to the system, so they can offer the most up-to-date advice. Accountants can easily export trial balance data to generate end-of-year accounts.
FreeAgent allows 3CA to monitor a company’s up-to-date financial position and give better tax planning advice because it is based on the latest information rather than last year’s accounts and a “best guess”.
3CA is able to discuss the financial position of the business and its owners because its advice is based on fact as opposed to what the owner perceives has happened.
Stuart Jones, 3CA comments:
FreeAgent has created the opportunity for us to grow our practice by focusing our resources on offering sound business advice and saving our clients tax rather than wasting our efforts (and our client’s money!) performing work which is basically nothing more than bookkeeping.
FreeAgent is a breath of fresh air after years struggling with Sage which is notoriously difficult to use. We are a cautious breed, the accounting profession, and it may take time for us to change but I am sure that any accountant who starts using FreeAgent will be won over by its straightforward clarity straight away.”
- 3CA Accoutancy
- Company Type:
- Limited Company