Think about your own buying habits for a while.
What is Freshbooks
Freshbooks FreshBooks is accounting software that enables businesses to spend less time on accounting and more time doing productive things that can bring more revenue to their business. The FreshBooks accounting software can make running your small business fast, easy and secure. It is capable of automating tasks like organizing expenses, invoicing, following up with clients, etc. The simple and intuitive platform of FreshBooks help businesses spend less time on paperwork. No matter you are self-employed, manage an agency, firm or consultancy, FreshBooks can help you figure out where your business stands. If you are interested in knowing more about FreshBooks accounting software, check out the video below:
FreshBooks is a solid small-business accounting software product that's well-suited for freelancers and independent contractors. It stands out with its good customer service and customizable invoicing features. However, it's not ideal for fast-growing businesses because of user and client limits on some of its plans.
Accounting software should allow you to track the status of invoices so you know when customers received their bills and when their balances are due, and it should also facilitate online invoice payments so customers can pay you directly from the invoice. In our review of accounting software, we looked for applications with invoice-related timesaving features, such as recurring invoices, the option to send invoices from a mobile app, and the ability to track billable time and expenses and add them to invoices.
After much research and analysis, we recommend FreshBooks as the best invoicing software for 2022.
FreshBooks Review Summary
FreshBooks is a cloud-based accounting software company that was founded by Michael McDerment in 2003. Over 100,000 customers currently use FreshBooks for their accounting and invoicing purposes. The tool was designed exclusively for small and micro businesses, so it offers a notably basic interface and intuitive user experience.
FreshBooks is designed for small, service-based businesses, and the company is very upfront about the fact that the software is not going to work for large companies or those with very specific needs. The features consist of tools to facilitate invoicing, payments, expense tracking, estimates, time tracking, project management, and a basic client CRM system. Along with that, there are reports across invoicing and expenses, payments, accounting, and time tracking.
FreshBooks pricing is fairly average for the market, with plans starting at $4.5 per month and going up to $50 per month.
Overall, FreshBooks is one of the most intuitive, user-friendly tools on the market for small or micro businesses. In spite of its limitations relative to other accounting products, we recommend FreshBooks to small businesses who offer services rather than products, given that the features to support inventory management are not as advanced as alternatives. While the tool is notably user-friendly, it’s not nearly as nuanced as tools like Xero and Zoho Books. If you’re looking for something more advanced, have a lot of inventory to keep track of, or conduct business with many different clients, we recommend opting for something more advanced like QuickBooks or Zoho Books.
Pros and Cons of Freshbooks
Pros
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Simple to use for freelancers and very small businesses.
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Well-rated customer support.
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Good invoicing services.
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Time tracking and mileage tracking included in all plans.
Cons
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Limits on number of users and clients.
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No bank reconciliation or accountant access in lowest-tier plan.
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Does not provide quarterly tax estimates
FreshBooks Key Features
Easy Invoicing
With a streamlined FreshBooks invoice generator, you can create professional looks or customize your invoice, add your logo and personalize your thank you email. It offers you to automate from sending reminders to securely charging your client’s credit card and allows you to focus on your business. FreshBooks invoices establish a stable cash flow and negotiate fixed pricing with your clients upfront to make it easier to forecast upcoming workload and income. FreshBooks online accounting solution has the powerful feature of managing timelines effectively, create professional reports, tame scope creep, and streamline your workflow.
Organize expenses effortlessly
FreshBooks account allows you to update with your most recent spending so that your business is automatically up to date. Organize expenses functionality lets FreshBooks keep things organized for you in the cloud with a snap a picture of a receipt and log it. You can also make tax time a breeze by categorizing expenses in FreshBooks without any complexity. Seamlessly FreshBooks accounting software for small businesses makes expenses tracking easy with multi-currency expenses, auto-categorization of expenses, tax-friendly categories, easily assign recurring expenses, automatically import expenses from your bank, easily mark expenses to rebill to a client later, and even secure receipt storage in the cloud.
Insightful Time Tracking
FreshBooks online accounting software time tracking maximizes your productivity with timekeeping for your entire team, record time against a specific client, add details time entry notes, automatically bill for tracked hours, daily breakdown of your tracked work hours, and even offers monthly & weekly views of your tracked time.
Seamlessly collaborate on projects
Collaboration on projects offers you to keep all your conversation and file in one place. This web-based accounting solution provides a centralized place for the storage of important files with easy access to everyone. Even FreshBooks makes it easy for project planning to execute work with automatically storing every update in the cloud. FreshBooks accounting software for small size business owners is built exclusively to boosts team productivity. And permits the team for which file to access or managed by employees, contractors, and business partners.
Get paid faster
With streamline FreshBooks easy, secure, and perfectly integrated online payment let your customer pay directly through invoices with an automatic record of each payment in your account. This also offers an advanced payment acceptance with online FreshBooks Payments, Stripe, PayPal, and credit card payment over the phone and adds automation that creates subscription-based client profiles to set up recurring billing profiles for specific clients.
Easy to understand reports
FreshBooks cloud accounting small business financial reporting instantly allows you to watch how well your business is performing with the use of FreshBooks full insight dashboards and reports that contain the valuable information to show you exactly what you need, at a glance. With a streamlined FreshBooks dashboard, you can ready-made financial report that saves your time and make tax season stress-free. This FreshBooks dashboard helps you to keep track of profit & loss report, sales tax summary report, accounts aging the report, Expenses report, Invoice details report, and so on.
Easy to use double-entry accounting
A FreshBooks double-entry accounting tool provides you an accurate calculation of profits and losses through the identification of revenue items and their related expenses. This also helps you to make confident business decisions with actual data and insights.
Pricing
FreshBooks offers several pricing plans that are based on the number of active clients you're working with and the included features. The company offers a 30-day free trial so you can thoroughly test the software before deciding if it's right for your business.
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The Lite plan is $4.50 per month, which allows you to bill up to five clients. You can connect with your bank account, accept invoice payments, track your time and access the mobile app. There's no cap on the number of estimates and invoices you can create.
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The Plus plan is $7.50 per month, which lets you bill up to 50 clients. It is the most popular plan. You can send recurring invoices, automated payment reminders and charge late fees. Collaboration with your accountant on FreshBooks is free with this plan.
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The Premium plan is $15 per month, and you can bill up to 500 clients. This plan includes everything in the Plus plan, and it has enhanced tracking and reporting features.
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The Select plan is for businesses that bill more than $150,000 annually or have more than 500 clients. Pricing is custom for this plan. You will need to call Freshbooks for a price quote.
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Each additional user you add to your account costs $10 per month. Users include business partners, employees and contractors. There's no additional cost to add your accountant, though.
Is FreshBooks Safe to Use?
It’s natural that you should be concerned about a software platform having access to your sensitive financial data, including access to your business bank accounts and client payment details. FreshBooks uses SSL, encryption, and firewalls to protect your data, and the company takes its duty of protecting your information seriously.
