FreeAgent (online accounting)

Clients who experience difficulties with Excel based spreadsheets generally, dislike our spreadsheet system or who simply prefer the concept of on line accounting have the option of an arrangement between Quay Accounting and FreeAgent.

FreeAgent is an online book-keeping service specifically designed for Freelancers, Contractors and Consultants which allows you to dispense with time tracking, expense entry and book-keeping on spreadsheets.

Quay are "FreeAgent friendly" which means we understand their system and able to receive and process your accounting information (as normally required from you under our standard monthly service) using data input via their service.

Using FreeAgent you are able to go online to:

• Enter time and expenses and other accounting information from anywhere with an internet connection.
• Quickly build professional-looking invoices from timesheets, expenses or other billable items.
• Keep track of money in and out of your business via uploaded electronic bank statements.
• View interim management accounts and obtain estimates of all your tax liabilities (VAT, Corporation Tax, PAYE/NI and your personal Income Tax) (see note 1)

1) the accuracy of the management accounts and the tax estimates provided by FreeAgent will depend upon the completeness and accuracy of your data entry and of course will not necessarily have been subject to Quay Accounting's validation and verification processes, therefore they must only be considered as guideline indications based upon the specific data entered.

All data entered is encrypted in transit using banking-standard security and is backed up nightly (see note 2)

2) FreeAgent Central Ltd, not Quay, are responsible for the security and privacy of your data. You can find out more about their systems and policies on their website.

Your account Quay Team Leader will also be able to access your FreeAgent account, and because we will both be looking at the same numbers, we will be able to assist you with answering accounting issues.

FreeAgent subscriptions cost £25 per month plus VAT and are agreed separately with FreeAgent directly. This subscription is not included in the standard monthly service package and therefore an additional cost however Quay will discount the monthly service price by £10 per month plus VAT for FreeAgent users reducing the effect to an overall increase in accountancy costs to £15 per month.

For further information please contact Clare Rickman at Quay Accounting on 01202 753100 or contact FreeAgent direct at www.freeagentcentral.com/contact-us.

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