Most entrepreneurs don’t have the resources to hire a dedicated accountant and must contend with the complicated, time consuming task of bookkeeping themselves. Small businesses often buy off-the-shelf accounting software, but the designated “accountant” has to struggle with complex features and functionality -- or rejects the purchased software in favor of a homemade spreadsheet.
But cobbling together a solution for a function as fundamental as accounting is not viable for growing, successful companies. That's why it causes so much stress: According to a 2010 survey by SnagAJob, 38 percent of entrepreneurs consider bookkeeping to be their main frustration when it comes to running their businesses. To address the need for a better solution, Ed Molyneux, Olly Headey and Roan Lavery devised a way to, in their words, “democratize accounting.” They created FreeAgent, a stress-free way for small businesses to manage accounts and invoicing.
Voted Best Small Business Accounting Application in the 2010 Software Satisfaction Awards, FreeAgent is a web-based accounting and money management tool for freelancers and small businesses. FreeAgent allows users to send invoices, track time and expenses, analyze bank statements and build real-time accounts. “FreeAgent is an example of form combined with function, designed around the end-user, not their accountant,”explains Kevin McCallum, business development director at FreeAgent. “FreeAgent is sophisticated without being complicated but allows users to gain some control of this vital aspect of their business.”
And it works. Joshua Pinter or Oxygen Webs says FreeAgent has cut administrative accounting time in half and helped his company double its revenue. “FreeAgent makes it painless to keep track of hours, invoice the client and then collect payment from the client,” he says.
Small business owners who want to master their accounting can try FreeAgent now for free from AppDirect.