Share this content
0
1644

FreeAgent or Quickbooks?

Accounting software for Contractor Clients,running business via Limited Company.

Didn't find your answer?

Search AccountingWEB

Hi Everyone,

I just started accounting Practice and I'm in a bit dilemma to choose between FreeAgent & Quickbooks. Most of my clients are Contractors who run a business via a limited company.

FreeAgent has a separate cloud-based application called 'Contractor Accountant' which does most of the things required for contractors business. Quickbooks does most of the things as well and Quickbooks reporting looks pretty which will be helpful for my other clients for Management Accounting & Reporting.
Not sure about the FreeAgent pricing for accounting (haven't got pricing yet) but Quickbooks pricing looks cheaper as compared to SageCloud.

Can anyone tell me which one I should go for?
Should I go for FreeAgent for Contactors clients and Quickbooks for other clients which means I'll be maintaining two applications?

Thank you in advance.

Best regards,
Anil

Replies

Please login or register to join the discussion.

avatar
16th Dec 2018 13:04

I’d go FA for contractors & Xero for others, but it’s personal choice - have a play on them all and see which you like best / find easiest.

Thanks (0)
avatar
to atleastisoundknowledgable...
16th Dec 2018 13:24

Thanks, I'll have a look at Xero.

Thanks (1)
16th Dec 2018 17:52

See my other posts on this topic. One thing which is usually totally ignored in software comparisons is the degree of solvency of the software company.

People expect accountants to know how to read a balance sheet if nothing else. So I for one do not recommend any product to any client unless I have confidence in the financial solvency of the provider.

I know nothing about the solvency of Free Agent. Intuit is extremely solvent. Xero has lost money every year it has existed and has, in my view, some questionable accounting policies.

Thanks (1)
avatar
By Matrix
to mr. mischief
16th Dec 2018 18:23

FreeAgent is owned by NatWest.

Thanks (1)
avatar
to mr. mischief
16th Dec 2018 18:47

Thanks, Mr. Mischief. Went through your earlier posts. Some useful information there.

Thanks (0)
avatar
By Matrix
16th Dec 2018 18:31

I would use FreeAgent for contractors, agree a price with them if you become a partner and either include in your pricing or decide how much you will charge clients.

I wouldn't concentrate solely on contractors since the off payroll rules could diminish the number of these clients in 2020.

Thanks (1)
avatar
to Matrix
16th Dec 2018 19:20

Thanks, Matrix. I think FreeAgent for Contractor would be the best option to start with as it does everything required.

I would definitely accept work from clients other than Contractors.

Thanks (0)
16th Dec 2018 20:53

Yes, about a third of my clients were contractors 2 years ago and now - same number of clients - it is less than that. Several have been forced to go PAYE.

One has stayed but in a "trapped within IR35, deduction at source basis". I told him he would be worse off, not sure he believed me. He does now that he's seeing his take home pay! So I think he'll retire soon as he is about 60.

Having said that I get a lot of enquiries from people all over the country, even though I don't spend anything on marketing. Lots of people feel the big agencies don't do much of a job for them, and my guess is they will feel that even more if the public sector stuff gets rolled out to the private sector.

So whilst I would not advise putting every egg in the contractor basket, keep an open mind as there may be opportunities as well as threats. Plus, with this IR35 drivel combined with MTD drivel, 2 local accountants have retired early and one is recommending her clients to call me, so this might happen to you too!

Thanks (1)
avatar
By NH
16th Dec 2018 21:52

They each do different things FA is more designed for the contractor who wants to do their own bookkeeping (and payroll and satr) whereas QBO covers everyone.
That said both Xero and Sage also have their pros, we decided to keep an open mind and subscribe to all 4, as I say they all do different things for different types of business and are of course all different prices

Thanks (1)
17th Dec 2018 01:15

Freeagent hands down for your contractors.

If they are new to contracting you can get them to open up their bank accounts with Natwest and they get it free which is a decent saving.

Thanks (1)
avatar
to Glennzy
17th Dec 2018 03:21

Thanks Glenn, that's good to know.

Thanks (0)
17th Dec 2018 12:28

FA is brilliant for less complex clients. The inflexibility of not having BS codes can be an issue, but use a bank account as a work around. If they have Natwest accounts it is free which was attractive to a lot of my clients although I know people here don't like the fact that the bank can see all the data on the business.
QBO or Xero for anything more complex than a straight forward contractor.

Thanks (1)
avatar
By @Kilian
09th Jan 2019 14:14

Hi - there is an alternative.

JustAccounts.com

This is a good alternative if you are doing more of the work for your clients. The batch processes will save you a lot of time and the level of reporting available means you will always be giving your clients current or advanced advice.

If I can help let me know - [email protected]

Thanks (0)
avatar
By @Kilian
09th Jan 2019 14:15

Hi - there is an alternative.

JustAccounts.com

This is a good alternative if you are doing more of the work for your clients. The batch processes will save you a lot of time and the level of reporting available means you will always be giving your clients current or advanced advice.

If I can help let me know - [email protected]

Thanks (0)
avatar
By NH
to @Kilian
09th Jan 2019 14:35

No prices on the website as far as I can see, can you tell us what your prices are?

Thanks (0)
Share this content