UK Accounting Software, Simplified
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As independent service professionals, we tend to stumble into business through something we're passionate about and we're keen to see where it can take us and the peoples lives we impact.
However, there is two significant moments that almost every professional will experience. The first is when you realise you can turn your passion into a full time occupation and jump at the opportunity. The second is when you're delivering your services and collecting lots of money - then you realise 💩 I need to know how to run my business properly.
For my first 3-4 years in business I tried so many accounting systems and local companies, but none of them provided me with the education and guidance I was to some degree expecting. While paying an accountant to do my books was obvious, easy to delegate and trustworthy, I never understood what the hell was going on financially in my business... Literally no idea!
I don't know about you, but that didn't sit comfortable with me, so I kept searching an found Freeagent which was an absolute god send and ive never looked back. It was very fortunate that at this time tax become a digital option and Freeagent threw themselves at digital Tax solutions. I instantly started sending invoices and recording my bills to which Freeagent start relaying all the information I needed to know back at me in real, in a really simple diagram to understand. (ie. What scary tax bill do I have! and when is it due?)
Within six months of using Freeagent I was so confident with my finances and the help from Freeagent support I stopped working with an accountant and started to manage my own accounts and I've never looked back.
This also felt nice not having to share my finances with ANYONE!
Below are my top two features...
The first is a Tax Timeline displaying my tax bill in real time with every penny that enters and leaves my bank account, with the due dates and possible 'Income Tax Refunds' if the Tax man over estimated my tax the year before.
The second is a self assessment Tax return, so if you're a Sole Trader you can submit your end of year books direct to HMRC, you work your way through four simple tabs menus on the right, submit your return once you're happy everything is correct, then login to HMRC and make your tax payment which is displayed on your Tax Timeline.
Yes! that's your END OF YEAR accounts, not VAT. - Only if you're a sole trader!