FreeAgent Help & Troubleshooting in Kent

When your FreeAgent figures don't look right

Are your FreeAgent accounts showing incorrect figures? Have you noticed duplicate bank transactions, unexplained balances or VAT calculations that don't look right? Kent Accountants can help investigate problems with your FreeAgent bookkeeping records, identify where the errors started and correct them. From bank reconciliations and expense categorisation to reviewing financial reports and preparing accurate year-end information, we help sole traders, partnerships and limited companies get back to records they can rely on.

FreeAgent is a capable package, but it only reports what has been entered. A single bank feed hiccup, a guessed category or an explanation copied from the wrong transaction can quietly distort your profit, your VAT return and your tax estimate.

Common FreeAgent problems we see

• Bank balance doesn't match the statement, often because of duplicated imports, transactions marked as explained twice, or a wrong opening balance.
• Unexplained transactions piling up, or items explained against the wrong invoice, bill or category.
• VAT returns that look too high or too low, usually caused by incorrect VAT rates on explanations, EC or reverse charge settings, or the wrong VAT scheme in company settings.
• Director's loan account and capital balances that make no sense after personal spending has been explained as business costs, or the other way round.
• Odd balance sheet figures left over from a migration or from a start date set incorrectly.

How we investigate and correct your records

1. You invite us as your accountant from within FreeAgent. We never ask for your login details.
2. We compare FreeAgent's bank balances with your statements at month ends to find where differences first appear.
3. We review explanations, categories and VAT treatment, then list what needs changing and why.
4. We correct the records, removing duplicates, re-explaining transactions and posting journals where needed, and agree any changes that affect returns already submitted.
5. We give you a short summary of what went wrong so it doesn't happen again.

If the issue is a technical fault, such as a feature not working or an error message from the software itself, that sits with FreeAgent's own support team. We'll tell you clearly when that's the case so you aren't paying us for something only the provider can fix.

What to have ready

Bank and credit card statements for the period in question, details of any VAT returns already filed, your last set of accounts and a note of anything you have already noticed. If the records are badly out of date rather than just wrong, our bookkeeping rescue service may be the better starting point. Where a filed VAT return needs correcting, we can also help with VAT error corrections.

FreeAgent support for Kent businesses

We work remotely with FreeAgent users across Kent, from Canterbury to Tunbridge Wells. Once the records are tidy we can help with ongoing reconciliation, your Self Assessment return or year-end company accounts. Send us a message describing what you are seeing.