February 7, 2022 — In an ongoing effort to provide small businesses with the tools they need to grow, FreshBooks is announcing a partnership with Barclaycard. Small businesses owners that are Barclaycard Business and Barclays Business customers now get access to a free FreshBooks plan that makes it easier for them to manage invoicing, expenses, and accounting.
A FreshBooks plan of this kind is typically £228 per year, so this partnership offers direct savings for all small businesses who bank with Barclays or have a Barclaycard Business product.
The timing couldn’t be more ideal - starting in April 2022 the ‘Making Tax Digital’ (MTD) initiative requires all VAT-registered businesses in the UK to digitally submit annual returns using compliant software. FreshBooks is an obvious choice to support this transition because small businesses can work with their accountant to facilitate VAT return filing in the platform.
FreshBooks’ Senior Director of Partnerships, George Kyriakis says: “We’re delighted to partner with Barclaycard to ensure business owners in the UK have the ability to grow and embrace digital transformation. It comes at a great time with MTD requirements on the horizon, meaning more small businesses need to transition to digital.”
How FreshBooks Support Business Owners
At its core, FreshBooks saves small businesses up to 550 hours a year on accounting and business admin†. With the plan, business owners can send unlimited invoices to up to 50 clients, automatically track expenses on iOS and Android, and easily track mileage on the go.
FreshBooks x Barclaycard means businesses can accept payments via the Barclaycard Smartpay Fuse online payment service. This enables payment via a variety of methods. On top of that, businesses get access to the funds with next-day settlement, low transaction fees (from just 1%)*, and automatic reconciliation - with no manual intervention.
Clive Impey, Director of Integrated Payment Partnerships at Barclaycard Business, says: “MTD is a huge opportunity for businesses. It makes doing taxes very straightforward and can drastically reduce the time businesses spend on admin tasks. And, by partnering with FreshBooks, our customers get those benefits free, plus the ability to accept payments online.”
Barclaycard Business and Barclays Business customers can apply for a free FreshBooks account here.
† Source: FreshBooks, https://www.freshbooks.com/en-gb/about/ourstory
* Transactions need to be taken before 6 pm to ensure next-day settlement. Transactions taken Friday after 6 pm, Saturday or Sunday will be paid on Monday. Qualifying customers only, additional credit risk terms may apply (i.e. some applications will be declined or approved on delayed settlement terms).