Choose the appropriate business type and industry
This article explains which business type and industry to select when setting up your FreeAgent account.
If you’re setting up a FreeAgent account for a charity or community interest company, find out how to choose the appropriate business type for a charity.
Choosing a business type
If your business is one of the following business types, select it as the business type for your FreeAgent account:
- US Sole Proprietor
- US Partnership
- US Limited Liability Company
- US C Corp
- US S Corp
If you don’t require some of FreeAgent's more detailed bookkeeping functionality, you can choose the Universal option.
What is a Universal FreeAgent account?
The Universal account in FreeAgent doesn’t contain some of the complex functionality that other business types require such as VAT, payroll, Self Assessment, Corporation Tax or preparing accounts using cash basis accounting.
If you do require any of these features, please select one of the business types listed above.
You can also choose the Universal option if you’re setting up a FreeAgent account for a charity, not-for-profit organisation, social enterprise or community interest company (CIC), that doesn’t require detailed bookkeeping functionality. Find out more about choosing the appropriate business type for a charity.
Choosing a business industry
Select the industry that best describes your business from the ‘What's your industry?’ drop-down menu. The industry you choose won’t affect your FreeAgent experience so if there isn’t an industry that matches your business, please choose the industry closest to your business.
If your business is a charity, not-for-profit organisation, social enterprise or community interest company (CIC), select ‘Charity/NFP/CIC'.