FreeAgent - is it any good?

[DoubleDutch]

I've just started giving FreeAgent a go for my accounts. Used to use MicroSoft Accountant - it was much simpler than Sage and was free, etc - but it has been discontinued.

Anyhow, from the looks of it FreeAgent looks ideal for small business or freelancer - it even does simple payroll. But is it really any good? - I'm no accountant!

I have a referral link where you (and me!) can get 30 days free trial and 10% off - this should make it free after 10 referrals! Here is the link: http://fre.ag/41i4so2t

I've notice it does estimates and can keep track of how much a particular project costs, I get the idea that the developers have designed it actually for software developers.

I've put some test figures in and it gives the same set of accounts the Microsoft accountant did for the same figures, so it looks like it figures things out correctly. But what I need to know is what it it like over a longer period of time? It's a completely online system, so has there been any downtime, etc? Have they lost any accounts - as this would be a nightmare situation if it happened close to a deadline!

Anyone else used it?

[IdeasVacuum]

Have they lost any accounts - as this would be a nightmare situation if it happened close to a deadline!

I'd say don't even think about it - this type of thing is the worst possible use of 'the cloud'. What happens to your data if their company disappears for some reason? What if their site gets hacked?

[DoubleDutch]

That's the worry. But after just having a house fire and finding the original MS Accountant software discontinued (we had backups of the data) then the same can be said for software you download (that has to be activated)...

[IdeasVacuum]

...well, I don't know about the MS product specifically, but with many the data can either be directly imported by another app or exported to a neutral format by your existing app, both of which may be denied by a cloud-based solution if the data isn't stored on your PC.