Does FreeAgent support HMRC's Making Tax Digital initiative?

To add your accountant as a user to your FreeAgent account, follow the steps given below:

• Open your FreeAgent account
• Press on the 'Settings' option
• Choose 'Users'
• Hit 'New User'
• Input the accountant's details
• Assign them the 'Accountant' role
• Set Permissions for your accountant

To use FreeAgent's advanced accounting features and view reports about your business, follow the steps given below:

• Open your FreeAgent account
• Navigate to the main dashboard.
• Go to the ‘Reports’ section
• Select a report type
• Customize filters if required
• Set the Date range
• Sort data according to categories
• Filter by project if you're using project management tools
• Examine your data

In FreeAgent, a business’s profit and loss accounts are ‘cleared down’ to ‘retained earnings’ at the end of an accounting year so that the business can calculate its profit and loss for the subsequent year. FreeAgent generates Corporation Tax entries in your accounts and automatically closes them down.

The auto-enrollment feature of FreeAgent's payroll identifies eligible employees on the Payroll Dashboard and automatically flags them according to their age and income.

To edit or delete payroll that has been marked as filed using FreeAgent, follow the steps given below:

• Open your FreeAgent account
• Go to the 'My Money' tab
• Click on 'Payroll' from the dropdown menu
• Choose the Relevant Period of the payroll you wish to change
• Hit 'Mark as unfiled' to unlock the payslips for editing
• Make the required changes to the payslips or delete the payroll period entirely