DoubleAgent makes it easy to split an invoice's income or a bill's cost evenly across multiple months, or simply to move the income/cost to another month.
Your balance sheet and P&L will be much more accurate if you accrue the income from any invoices representing more than one month of work, and any costs spanning more than a month.
For example, if you invoice customers annually you will have a much truer picture of your business by accruing the income over 12 months.
How does it work?
First you choose whether you want to accrue an invoice or a bill. Let's say an invoice.
Next you choose which invoice to accrue. You can search by reference, contact, or amount.
Next you specify the month you want to move the income to. You can move it earlier (accrue it) or later (defer it).
Finally you choose whether to split the income evenly across the months between the month you chose and the invoice date, or simply to move all the income to the month you chose.
Then just click the button to add them all to FreeAgent. (You can undo them all with one click if you want to.)
Example
Here I invoiced the customer after spending 3 months doing the work.
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First we need to connect your FreeAgent account.
When you click the button, DoubleAgent will send you to FreeAgent.
FreeAgent will ask you to log in and whether to allow DoubleAgent to access your account.
You need to have access to the tax, accounting & users level in FreeAgent. If you are your FreeAgent account owner, you are all set.
If your change your mind later, you can disconnect DoubleAgent like this:
On FreeAgent's Connections & Add-ons → Banking, bank feeds and approved applications page, click the Revoke Access button for DoubleAgent.
