Innovative cloud accounting software provider FreeAgent has teamed up with one of the UK’s leading accountancy firms to provide hundreds of contractors with greater clarity over their business finances.

FreeAgent, whose award-winning software is designed for accountants working with contractors and micro-businesses, has agreed a new partnership with ICS who provide accountancy and administration services to thousands of contractors across the UK. The deal will see up to 1,500 of ICS’s contractor clients using the FreeAgent platform to manage their day-to-day digital accounts, while providing their accountants with the most effective way of working with them.

Under the partnership, ICS clients will use FreeAgent to manage key tasks including business expenses, invoicing, banking, time tracking, project management and tax forecasting. Using this data, ICS will then be able to collaborate more effectively with clients over the daily financial admin and provide deeper, expert insights into their business accounts.

Ed Molyneux, CEO and co-founder of FreeAgent said: “With the government’s Making Tax Digital plans currently being finalised, accountancy firms are increasingly recognising the value in investing in the best systems to help them support their clients, work more effectively with them and get them prepared for the changes ahead.”

“We’re delighted that ICS has recognised the value that FreeAgent can bring to their business and how we can help them provide the best possible service to the contractor clients. ICS is one of the leading names in UK contractor accountants, so we’re really looking forward to working with them and strengthening our partnership in the years ahead.”

John Lyon, Managing director of ICS, said: “Our partnership with FreeAgent is an exciting development for us and will add an extra dimension of customer service for our clients. FreeAgent is an impressive operation – it is an established brand with a great reputation. They have invested heavily in technology which is why the software is so user friendly and advanced.”

“A key benefit of the system is accessibility – our clients can easily manage their accounts and admin using the software. The ease of use means they will have more time to concentrate on efficiently and effectively running, developing and growing their businesses.”

“FreeAgent has a solid understanding of our industry, together with the freelancer, contractor and SME markets. The software was developed with those markets in mind, making it an ideal partnership for us.”