Originally posted by TheCyclingProgrammer
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FreeAgent
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'CUK forum personality of 2011 - Winner - Yes really!!!! -
Thanks for the feedback all.
@Maslins - possibly a bit misleading of me to say "building" our own. Basically, its a standard system which can be customised, tweaked and branded. But at the end of the day, it's cr@p so we need to ditch it. FA seems to be right on the money for what we are looking for.Comment
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Originally posted by Alan @ BroomeAffinity View PostThanks for the feedback all.
@Maslins - possibly a bit misleading of me to say "building" our own. Basically, its a standard system which can be customised, tweaked and branded. But at the end of the day, it's cr@p so we need to ditch it. FA seems to be right on the money for what we are looking for.
I have used Freegaent and still do and its pretty good. Sometimes a spreadsheet seems simpler but most times Freeagent does the right thing.Comment
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As someone fairly new to Ltd co I am finding FA to be pretty clear and helpful. I still needed/wanted to construct a spreadsheet to calculate my CT liability on a month by month basis as FA reported the total including for invoices raised but not yet paid.
Tax/CH timeline reminder is useful. Bank direct feed is very useful. Knowledge articles generally good WRT how to do stuff in FA.Comment
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Originally posted by northernladuk View PostWhat exactly do you mean by manual input? I have to click the button to force a Santander update as it requires an extra question? Is that what you mean?
Why banks can't implement some kind of restricted read only feeds I have no idea.Comment
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I've just signed up for two free trials of FreeAgent (one for each Ltd I operate) and so far I think it's excellent. Spent a few hours this weekend uploading bank statements and generating historical invoices as I've just finished my year-end for one Ltd and mid-way through the other. Unless I find any major problems during the 30 day trial period I will definitely be signing up for the paid-for versions for both companies.
One question I do have for the long-time users: are the facilities it provides wrt self-assessment, VAT returns and Corporation Tax sufficient that you don't actually need an accountant? At the moment I have an accountant (local guy with very reasonable rates) but if (when) I start paying for FA it kinda feels like I'll be paying twice if I keep my accountant around, and yet it is occasionally helpful to have someone to call to answer the odd question or two...Comment
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Originally posted by Alan @ BroomeAffinity View PostThanks for the feedback all.
@Maslins - possibly a bit misleading of me to say "building" our own. Basically, its a standard system which can be customised, tweaked and branded. But at the end of the day, it's cr@p so we need to ditch it. FA seems to be right on the money for what we are looking for.
Personally i wouldn't change FA, unless a new alternative comes out that is better and i highly doubt it. The price of £20ish/month is nothing compared to how much time it saves you.Comment
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Originally posted by Willapp View PostOne question I do have for the long-time users: are the facilities it provides wrt self-assessment, VAT returns and Corporation Tax sufficient that you don't actually need an accountant? At the moment I have an accountant (local guy with very reasonable rates) but if (when) I start paying for FA it kinda feels like I'll be paying twice if I keep my accountant around, and yet it is occasionally helpful to have someone to call to answer the odd question or two...
Self Assessment - YES, so long as your affairs are simple.
Corporation Tax - MAYBE. Due to various reasons its never been 100% accurate for me, largely to do with support of some aspects of capital allowances (small pools allowance), deferred tax provisions and other small differences BUT, it is more than accurate enough to have a rough idea of your CT liability within a few hundred quid or so. Depending on your circumstances it might even be spot on.Comment
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FreeAgent
@sal. Yes, just discovered that.
@willsapp. Imv, software will never be able to replace professional advice. There are a lot of areas where you could become unstuck.
@thecyclingprogrammer. The CT was one of my concerns. The "tax timeline" is excellent but not of much use if inaccurate. That said, a couple of journal entries should straighten it out and I don't suppose a couple of hundred quid (probably a tolerance of +/-1% is really too much of an issue.Comment
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Originally posted by Alan @ BroomeAffinity View Post@thecyclingprogrammer. The CT was one of my concerns. The "tax timeline" is excellent but not of much use if inaccurate. That said, a couple of journal entries should straighten it out and I don't suppose a couple of hundred quid (probably a tolerance of +/-1% is really too much of an issue.Comment
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