FreeAgent Update - Release Barsac

Roan Lavery
CEO, Co-founder

We released this week's update to FreeAgent - 'Barsac' - last night.

You can now enjoy:

A Better way of Changing Invoice States

For a little while, we've been wanting to improve the way Invoice states (Draft/Sent/Paid) are changed. Those little green arrows were not very obvious for new users (or old ones, come to that).

We now have a swish new 'Status Bar' which much more clearly shows what the current status is, and what you need to do to change it.

Let us know what you think, and how we could make it even better.

Sole Traders: Tracking Out-of-Pocket Expenses

Previously if you were a Sole Trader we didn't track the balance owing on Out-of-Pocket Expenses. Of course, if you have a business bank account you do need to do this, so you can work out how much to reimburse yourself. So we've enabled balance tracking, as long as you do have at least one business bank account set up in FreeAgent.

Better Performance Adding Expenses

Lots of you use Smart User Payments to automatically allocate Salary, Expenses & Dividends (or Drawings for Sole Traders and Partners). We're pretty proud of how much easier that makes 'paying yourself' but it did mean that adding expenses was sometimes slow.

FreeAgent used to recalculate the allocation of all Smart User Payments whenever a new out-of-pocket expense was added, but now it only does so if there's a Smart User Payment after the new expense.

Should speed up adding your weekly expenses a fair bit.

A More Accurate Trial Balance

We were incorrectly including opening balances in the first year Trial Balance. We've stopped that now, and are very close to releasing our revised, more formally correct Balance Sheet. Stay tuned, if double-entry accounting is your bag…

Revised Capital Asset Handling

We've fixed a mistake we were making when considering pre-startup Capital Expense purchases. We've also revised the Capital Assets page (Home > Capital Assets) in line with our general accounting system improvements as mentioned above.