Enabling accountants to automatically track their clients’ finances and highlight in real-time areas of opportunity or concern, FreeAgent has launched a new Alerts tool, the company has announced.

Apart from a portal to drill into the specifics of any one of their accounts, the new feature is available exclusively through the accountant’s existing dashboard – which presents an at-a-glance view of all of the clients on the FreeAgent platform. It also provides better accessibility for users and a significant reduction in time spent on manual or paper based processes, because FreeAgent is entirely online and has been seamlessly integrated into the IRIS accounts production solution, the company stated in a press release.

Alasdair McGill, managing director of Freelance World, said, “Online accountancy has revolutionized the way accountants work with their clients and FreeAgent’s latest Alerts tool goes even further to help us keep on top of our clients’ accounts. Alerts will give us the ability to monitor our clients' accounts on a daily basis, giving them peace of mind that we're watching the numbers. I’d like to congratulate FreeAgent on how far they’ve come over the last year.”

To monitor their clients’ account activity for transactions and entries that may warrant closer examination by using Alerts, accountants will also be able to take a more proactive approach in helping their clients keep on top of their finances, and ensure that potential issues are spotted and acted on sooner rather than later.

In April 2011, the company partnered with Plendi, a Dublin-based mobile expense management company. Plendi takes the pain out of tracking out-of-pocket expenses. Customers take a picture of their receipts using Plendi’s iPhone (News - Alert) or Android app.

Each receipt is transcribed by Plendi’s data entry staff, and the image and transaction data are permanently stored in an online receipt manager. The partnership with FreeAgent means that the transaction data, including the date, vendor, net, VAT, and total, along with an image of the receipt are automatically recorded in the customers’ FreeAgent account.

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