Bokio vs FreeAgent Comparison

Why choose Bokio

Our data shows no clear advantage over FreeAgent.

Why choose FreeAgent

• Higher Cost score (8/10 vs 5/10)
• Higher Support score (7/10 vs 5/10)
• Better fit for freelancers (10/10 vs 8/10)

Bokio

Pros

• Bank connection suggests entries and matches incoming payments automatically, which cuts manual bookkeeping for small firms.
• VAT is calculated from the books and the VAT report is generated for Skatteverket, with a choice of monthly, quarterly, or yearly periods.
• Accounting consultants invited via Bokio Byrå count as free users.
• A forum user reports a smooth connection to årsredovisningonline for annual reports.
• Bookkeeping, invoicing, payroll, and a business account with a card come from a single vendor.

Cons

• The free plan was removed in September 2023 at short notice, which angered long-time users.
• Users and a Capterra reviewer call it expensive, at roughly 500 SEK per month with two employees.
• Many functions are paid extras, including extra users, Swish, e-invoices, advanced payroll, and the annual report.
• A forum user reports, secondhand and unverified, that payroll reporting cannot handle parental leave or VAB.
• It is focused on Sweden and suits only small businesses.

FreeAgent

Pros

• Free for customers with a NatWest, RBS, Ulster Bank, or qualifying Mettle business account.
• Built-in HMRC filing covers MTD VAT, Self Assessment, and MTD for Income Tax, and the limited company plan adds end-of-year filing.
• Reviewers often praise its UK-based phone and chat support.
• Every plan includes time tracking, projects, and invoicing, which suits freelancers who bill by the hour.
• Multi-currency invoicing and foreign-currency bank accounts are supported, with realised and unrealised gains and losses calculated automatically.

Cons

• Reviewers describe invoice templates as basic and say custom reporting is limited.
• Payroll suits only director-only setups or very small teams.
• Its integration ecosystem is smaller than those of Xero or QuickBooks.
• It has no multi-entity consolidation or advanced controls, so it does not scale to larger firms.
• Some users report out-of-date help articles.