Hello FreeAgent, goodbye bank holiday envy!
The three-day weekend - is there anything better? A whole extra day to relax, recharge and possibly even enjoy some good weather! While most of the UK’s employees were treated to a blissful bank holiday this week, freelancers and small business owners can’t always take a break when the rest of the country downs tools. Here at FreeAgent, we’re on a mission to change that.
In a recent survey*, our customers told us that FreeAgent helps them win back an average of seven working hours each month by automating and simplifying some of their most time-consuming business and finance admin tasks. The equivalent of a bank holiday every single month - it’s the dream! Here are just some of the ways that FreeAgent makes it happen:
Invoices chase themselves (and say thank you!)
Chasing late payment can be time-consuming, not to mention stressful! FreeAgent takes the pain away by sending out an automatic chaser email to your client the moment your invoice becomes overdue. You can use the friendly (but firm) wording provided or draft your own message to send with the email.
With FreeAgent chasing your overdue invoices for you, not only will those awkward conversations with late-paying customers become a bit easier (and hopefully less frequent), you’ll save loads of time. No more agonising over when to start chasing an invoice or what to say in your email!
It’s not just about late-paying clients, either. You can set FreeAgent up to send thank-you emails automatically too, so that when your clients do pay they’ll receive a friendly note of thanks from you right away.
Bank transactions automatically appear in your accounts
You’ve got better things to do with your time than trawl through your bank statements, adding every single transaction to your accounts! FreeAgent automates a big chunk of this particularly thankless task by connecting to your bank once a day to import bank transactions straight into your accounts. Once your transactions are safely delivered into FreeAgent, all you need to do is explain them as either ‘money in’ or ‘money out’ and your accounts and tax forecasts will automatically be updated.
FreeAgent Mobile lets you do the admin while you’re on the go
FreeAgent’s iPhone and Android apps have made burning the midnight oil trying to catch up on your business admin a thing of the past. Whether you’re on a train, in a cafe or even sitting in the dentist’s waiting room, you can use FreeAgent Mobile to record your expenses, explain your bank transactions and a whole lot more - all you need is a connection to the internet. With business taken care of during the day, the laptop can stay switched off when you get home and you can enjoy a well-earned rest. If you’ve not checked out FreeAgent Mobile yet, you can download it here:
Self Assessment and VAT calculated for you - and filed to HMRC in seconds
Self Assessment tax returns and VAT returns can be two of the biggest time drains for freelancers and small business owners. From sorting through all the paperwork and completing the forms to figuring out how much to pay - and then submitting it all to HMRC - tax and VAT returns have prompted many a freelancer to kiss goodbye to the prospect of a bank holiday!
Fortunately, FreeAgent comes to the rescue again. Using the data you enter throughout the financial year, it calculates your annual Self Assessment liability and pre-populates some of the forms (90% of the self-employment form, if you’re a sole trader). Ask an accountant to give it all a quick once-over and then you’re good to go - simply file your tax return directly to HMRC with the click of a button! If you’re VAT-registered, FreeAgent uses similar wizardry to pre-populate your quarterly VAT return and calculate how much you owe. All you have to do is review the information and hit ‘send’ to submit each VAT return directly to HMRC.
So, are you ready to start enjoying a bank holiday every single month? Why not get started with FreeAgent and make employees up and down the country green with envy - their next bank holiday at the end of August is a long way off!
*Survey of FreeAgent customers conducted in January 2017 with 366 total respondents.
- Video: VAT accounting schemes explained by HMRC
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- Hello FreeAgent, goodbye bank holiday envy!
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