Skip to main content FreeAgent Update - mini-P&L, more Friendliness
Ed Molyneux
Founder
Yesterday we updated the FreeAgent software to Release 'Montepulciano'.
Of course, we'd just as soon be relaxing with a glass of red wine by the hillside terrace pool in the real Montepulciano but cool software doesn't write itself, y'know!
More Friendliness - Upton & Co
We're pleased to announce that Upton & Co Accountants are now FreeAgent-Friendly.
Upton are based in West Yorkshire but also have offices in Newcastle and London.
They pride themselves on their personal, efficient and cost-effective service, and are offering a fixed fee service at £54/month plus VAT to FreeAgent subscribers (a discount of 10% on their standard fees).
If you'd like to switch from your existing Unfriendly accountant, get in touch with us or just contact one of our recommended accountants directly. They're all good!
Mini Profit-and-Loss Overview Panel
The Mini Profit and Loss panel shows you a summary of income and expenditure for the current accounting year so far.
FreeAgent shows you your Operating Profit for the year, and then subtracts the forecast Corporation Tax (if you have a UK Limited Company) and any dividends or drawings paid to give you the 'Retained Profit'.
That, added to any retained profit carried forward from last year, represents the amount of profit in the business that you can take out.
You can select the 'Show in full' link to take you to the more detailed Profit-and-Loss report on your Accounting pages.
Just like the other overview panels, you can drag the Mini-P&L to another place on the Overview page, or remove it completely by selecting the Customize Overview drawer and unchecking the Mini-P&L item.
We'll be continually improving the usefulness of accounting data you can get out of FreeAgent in the coming months, included some much-requested Monthly P&L and Monthly Cash Flow screens.
Support for OFX2 Statements
You can now upload statements in the 'OFX 2' format - used by some banks in the US particularly - and which means we now support all variants of OFX statement formats.
Better FreeAgent Subscription Invoices
We've improved the information available on the subscription invoices you can download from Home > MyAccount.
Other Stuff.
One small fix this week:
- We fixed an error which arose if you have more than 9 bank accounts in FreeAgent and viewed your accounting pages. You can now have as many bank accounts as you like!
Disclaimer: The content included in this blog post is based on our understanding of tax law at the time of publication. It may be subject to change and may not be applicable to your circumstances, so should not be relied upon. You are responsible for complying with tax law and should seek independent advice if you require further information about the content included in this blog post. If you don't have an accountant, take a look at our directory to find a FreeAgent Practice Partner based in your local area.
