FreeAgent Review

Pros
FreeAgent accounts support unlimited users, clients, accounts, invoices and projects. With this simple-to-use online accounting software, you can create and email your first invoice within minutes. You can also use FreeAgent to track time, expenses and mileage.

Cons
This service does not include the ability to track documents or assign tasks. In addition, FreeAgent does not provide mobile phone specific apps.

The Verdict:

 7.43/10

FreeAgent provides all-inclusive accounts. Accounts include unlimited everything and are affordably priced plus they do not require you to agree to a long-term contract. Using this service, you can invoice, track projects, monitor overall performance, sync with popular apps and work with others easily. 

The creators of this accounting solution understand that most freelancers and small business owners are not accountants. They just want to run their businesses, make money, keep their customers happy and enjoy a stress-free tax time. FreeAgent is simple to use, affordable and is not loaded down with formal accounting jargon.

All accounts support an unlimited number of users, and FreeAgent tracks projects, tasks, expenses and mileage. It is compatible with services you may already use, such as PayPal, Google Apps and Basecamp.

With FreeAgent, you can easily create professional invoices online using your choice of theme and logo. When you create an invoice, you can even configure FreeAgent to send out a notice automatically should the invoice go overdue. Invoices can be emailed and saved as PDF files.

This invoicing tool creates recurring invoices. FreeAgent creates estimates, tracks bills, uploads bank data and tracks Schedule C information. It generates seven reports, including profit and loss statements, balances sheets and transactions. This service also logs journal entries. This accounting service does not track inventory, but it will allow you to save and assign codes to items that you invoice often to help save time.

This bookkeeping software tracks an unlimited number of projects and can assign currencies, budgets, PO numbers, billing rates, and start/end dates to those projects. It also has a tool for forecasting the profitability of a project. Along with the project, you can add/save related estimates, invoices, tasks, time, expenses and notes. However, although FreeAgent manages tasks, you cannot assign tasks. In addition, the software does not support the ability to attach files to a project, such as client documents, artwork or designs. To manage documents and such, you can utilize compatible apps such as Google Apps or Basecamp.

FreeAgent supports project collaboration by allowing an unlimited number of users while giving the administrator the rights to set permission levels for each user. Admins can limit users to only having access to log time or full access if desired. You can also provide free access to your accountant. Users can access FreeAgent using a mobile device's web browser. Using your mobile device you can time, expenses and mileage. It can also track invoices, attach receipt images to expense files and manage time slips.

WorkingPoint Review

Pros
It can track all account balances, including PayPal and Etsy accounts. It has a comprehensive dashboard with status graphs, and it provides general accounting reports. WorkingPoint is also accessible via a web-optimized mobile version.

Cons
WorkingPoint does not offer credit card processing, project tracking or multi-currency billing.

The Verdict:

 7.63/10

 

WorkingPoint is most suitable for solo operations, since it doesn’t track time, projects or employees (without an add-on). However, it does provide adequate basic accounting tools and the mobile version is fully functional.

WorkingPoint is a streamlined online accounting software nearly as capable as traditional accounting software. It does most things that clunky accounting software can do, but without the filler. Sure, mainstream accounting software can track which warehouse a specific widget is located in, but most startups and independent contractors do not need that ability – they just want to make invoices and get paid. WorkingPoint can do that. It can monitor accounts, create invoices, manage bills, generate financial reports and produce tax reports. This cloud accounting system has a helpful, attractive dashboard that quickly shows your daily operating costs, expenses, banking summaries, bills due and quick links to common tasks. If you have used traditional accounting software and found it to be overkill, you will appreciate WorkingPoint.

This bookkeeping system easily creates invoices using stored contact and item information. You can customize the invoices with your logo, font choice and personal message. The software can calculate taxes and discounts and manage recurring invoices. Completed invoices can be emailed or saved as PDF files. However, it does not manage currency exchange rates.

When you open an invoice file, you can see whether payments have been made and the history of the invoice, such as who created it. To help monitor shipments, WorkingPoint will store shipping information, tracking numbers and shipping dates. Helpful reports include top customers, item sales and sales forecasting. To assist you and your accountant track accounts, it produces income statements, balance sheets and cash flow statements. Tax reports available include sales tax, estimated tax, 1099 and Schedule C reports.

WorkingPoint is best suited for those who have another method to track projects, or those who work alone. This service does not include a project tracker, yet it has expense- and time-tracking tools that many contract and freelance workers need. Although the Thunderstorm version of WorkingPoint supports unlimited users, it does not provide collaboration tools for project or job tracking

WorkingPoint provides a mobile version optimized for iOS and Android mobile phones. Using the mobile version, you can view customer contact information, track billable time, create invoices, record bills, check balances and view items. The mobile version syncs with the online version, and it is free if you have a regular WorkingPoint account.

A few features that make WorkingPoint different from other services we reviewed are that you can add email-marketing tools. This online accounting service also supports online company profiles, which is similar to a business social media tool. Using this tool, you can create a free company profile featuring your products and services with links back to your site. You can communicate with other WorkingPoint customers, see who is viewing your profile and share your company profile with other contacts. This could be helpful for businesses that have little or no web presence.