FreeAgent and Receipt Bank make claiming expenses easier

Feb. 16, 2011 - PRLog -- Freelancers and small business owners will now be able to save time and money by processing out-of-pocket expenses quickly and painlessly, thanks to a new partnership between Receipt Bank - the receipt processing service - and online accounting pioneers FreeAgent.

Many out-of-pocket expenses are often lost in the fog of running a small business: receipts get mislaid or forgotten, or build up into a pile, and the opportunities for reclaiming the money and appropriately charging clients are missed. This can make a real difference to the business owner’s take-home pay and the business’s profitability.

The partnership between FreeAgent and Receipt Bank aims to make this a thing of the past by freeing users from the paperwork and drudgery of having to manually keep track of these bits of paper, and helping the UK’s freelancers and other small business owners quickly and easily reclaim every penny they are owed.  

Ed Molyneux, CEO of FreeAgent, says: ‘From today users will be able to send their receipts to Receipt Bank and the data will flow automatically into FreeAgent – so no laborious data entry or effort is required. Once in FreeAgent the expenses can be reclaimed from the client and from your business, and offset against tax bills.’  

Michael Wood, Director of Receipt Bank, says: ‘Users can send us their receipts by email, by iPhone, or by old-fashioned mail using the freepost envelopes we provide. We will then scan and process their expenses data.  Today’s announcement enables FreeAgent users to automatically see this information in their accounts without any need for manual inputting!’

In these tough times we all want to make sure we’re as financially astute as possible and through this partnership FreeAgent and Receipt Bank will provide freelancers and small business owners with another way of keeping on top of their finances.

http://www.freeagentcentral.com
http://www.receipt-bank.com

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About FreeAgent

FreeAgent has pioneered online accounting since the launch of its service in 2007, rapidly growing a loyal community of freelancer and small business users.

As well as making accounting easy for business owners to understand, FreeAgent offers unique real-time projections of tax liabilities including VAT, Self Assessment Income Tax and Corporation Tax. Users can also analyse bank statements, see live profit and loss reports, send and track invoices, track time and expenses, and manage projects.

The company is run by founders Ed Molyneux, Olly Headey and Roan Lavery who – originally freelancers themselves - needed a finance tool that would give them a clear picture of their business accounts. That product did not exist and so FreeAgent was born.