The FreeAgent start date for new businesses

This article explains what the ‘FreeAgent start date’ means for new businesses that plan to start trading soon, or have recently started trading and have not been using another accounting software package.

If you're setting up FreeAgent for an established business that has been trading for a while, find out more about the FreeAgent start date for existing businesses.

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What is the FreeAgent start date?

When you set up your FreeAgent account, you'll be asked to enter a FreeAgent start date. This is the date from which you will start keeping your books in FreeAgent.

If your business is new, you may decide to start keeping your books in FreeAgent from the date that your business officially started. 

Why is the FreeAgent start date important?

All bank transactions, invoices, bills, out-of-pocket expenses, capital assets and journal entries entered into FreeAgent need to be dated on or after your FreeAgent start date. If you enter any of these with a date before your FreeAgent start date, they will not be included in your accounts in FreeAgent.

Costs incurred before the FreeAgent start date

If you spent money on the business before it officially started, enter the out-of-pocket expense or capital asset dated on your FreeAgent start date.

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