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FreeAgent Launches iPhone app for Financial Record-keeping

EDINBURGH, Scotland April 25, 2012

FreeAgent has launched a unique record keeping iPhone app designed to help self-employed people and very small businesses in the UK to stay on top of their finances and tax commitments.

online accounting software

Under HMRC guidelines, many micro-business owners and self-employed people only have to file three-line accounts: recording income, expenditure and profit for the year. However, many of these people still find it difficult to manage their accounts – which prompted HMRC to request software companies to develop an app that would provide assistance.

App Store

Ed Molyneux

"Our hope is that very small businesses will receive the support they require from Earnest – and as they grow and start to require more in-depth features for their finances, their experience with the app will encourage them to ‘trade up’ to use FreeAgent. We’re essentially trying to create a hassle-free journey that small and early-stage businesses can follow when it comes to managing their finances and bookkeeping."

The Earnest app enables users to:

– Record income and expenses

– See their bottom line profit or loss

– Get estimates on how much tax they owe

– See upcoming tax deadlines and dates with a "Tax To-do" list

– Capture and store image receipts using their iPhone camera

– Create alerts to remind them of important tax dates and as they near the VAT Threshold

– Categorise transactions by payment method

– Record cash and non-cash transactions

– Add notes to entries

– Record CIS deductions made on income

– Back up their data by email

http://www.earnestapp.com App Store

About FreeAgent:

Edinburgh

http://www.freeagent.com

Ed Molyneux

40 Torphichen Street
Edinburgh
Scotland
United Kingdom
EH3 8JB

http://www.freeagent.com

SOURCE FreeAgent

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