Cloud accounting Articles

FreeAgent income soars by 41%

Cloud accounting software provider FreeAgent have seen their  income soar by 41% to £8m for the year to the end of March.

As Umbrella Accountant’s provider of choice for contractors and freelancers FreeAgent reported a net loss of £2.9m for the same period, including share-based payment expense of £0.8m, as the group continued to invest in scaling its business (2016: £1.3m).

The Chancellor George Osborne has withdrawn plans for an emergency ‘punishment’ budget - that could have resulted in higher taxes and lower levels of public spending - in the wake of the referendum vote for Brexit.

This spells good news for contractors, who have been stung as a result of several recent budget statements from the current Chancellor...

Umbrella Accountants are one of the few cloud accounting companies that offer a choice of accounting software having added Xero to join FreeAgent in our recommended software options.

Xero and FreeAgent are both Cloud Based Accountancy Packages.

What does this mean?

Cloud Based accounting means that you have no software or hardware requirements you simply access your accounting via the internet. Everything is hosted elsewhere.

Umbrella Accountants will be attending at Accountex 2017!

Accountex combines a world-class conference and exhibition dedicated to Accountancy Professionals. Umbrella Accountants are despatching Ricky Patidar to catch up on all the latest technology at the exhibition at the Excel Centre in London

Exhibiting at the show will be Cloud Accounting specialists such as FreeAgent, Sage, Receipt Bank, Expensify and Xero. We’re always looking to discover how cutting edge cloud-based platforms can make a difference to our clients – the more automation available and the more accurate the information the more time our contractors can spend away from their accounts. 

Umbrella, the Cloud Accountants, are pleased to announce that we now have 18 accredited accountants for both FreeAgent and Xero Cloud Accounting Software products.

By giving a choice Umbrella are able to find a solution that satisfies most contractors & freelancers operating through their own limited company in the UK.

 In fact Umbrella Accountants LLP are one of the few accountants to offer more than one Cloud Accounting Service.

We are also able to help if you are already with a different provider i.e. Sage One, Quickbooks, ClearBooks etc.

Umbrella contractor accountants currently have in excess of 1,000 limited companies using one of their accounting services.

The buzz around the accountancy sector is all about small businesses and cloud accounting. Even KPMG one of the world’s largest accountancy firms has launched into the sector with their new offering called Enterprise.

But what is Cloud Accounting and how does it help?