FreshBooks

What is FreshBooks?

FreshBooks is a cloud-based accounting system that is designed for freelancers, self-employed professionals, and small businesses.

FreshBooks is one of the best financial accounting platforms that seamlessly automates a spectrum of accounting tasks such as:

• Payment acceptance
• Billable time tracking
• Financial reporting
• Invoice creation
• Expense tracking

In this detailed Freshbooks review, you will learn more about its features, integrations, pricing plans, and other important specifications.

FreshBooks has won several awards and accolades over the years and for a good reason. The platform is designed to take into account the difficulties faced by small businesses while managing their finances.

FreshBooks offers cost-effective and small and medium business (SMB) pricing plans that come with a robust list of features.

In a nutshell, FreshBooks is one of the most well-rounded accounting suites that makes complex financial management enjoyable.

The mobile application is available on both Android and iOS which enables users to run their business on-the-go.

Vendor Details

• Company: FreshBooks
• Website: https://www.freshbooks.com/
• Founded in 2004
• Country of origin: Canada

FreshBooks Key Metrics

FreshBooks rolled out a new version powered with a spectrum of improved features. Before we take a look at them, let’s understand how your business can benefit from FreshBooks.

• Perfect solution for SMBs

As mentioned earlier, FreshBooks is designed to keep small businesses in mind. Hence, the company consistently updates its features that are ideal for mid-market accounting.

The software eliminates the possibility of human errors and inconsistencies. The newly launched version comes with a modern interface, enables flawless collaboration, and elevates the quality of work that is being done.

The dashboard has been reworked and offers excellent customization options.

• Save time with auto-billing and recurring payments

FreshBooks enables users to save time by setting up a billing schedule. Users can automate recurring payments using the auto-billing feature which charges the client’s card securely.

Invoices can be sent in the currency preferred by clients. Capturing expenses has been simplified in the new version as the software prioritizes all tasks and displays them in a way that makes it easier to identify important tasks.

• Simplicity

If not all, most FreshBooks features can be customized. Users can also attach files they want, set alerts for delayed payments, trigger notifications, track billing, and brand invoices easily.

• Invoice-to-payment

The invoice-to-payment functionality is very reliable. It allows users to track when a client receives and opens an invoice they send. FreshBooks provides an assurance that the invoices sent have been successfully delivered to the clients.

In the latest version, users can set invoice due dates, turn on new pipeline payment options, and also charge late fees.

FreshBooks is also an excellent platform for the efficient management of billing history. It is packed with features that allow users to keep tabs on current and past invoices.

The automated overdue payment reminders feature eliminates discrepancies with clients regarding missed payments.

Management of payments is flexible as users can settle accounts using Visa, MasterCard, Google Checkout, PayPal, and Google Checkout for online payments.

• Expense tracking

Another reason why FreshBooks is a go-to financial solution among small businesses is its ability to track expenses. Users can attach receipts and also organize them within the platform.

Users can monitor expenses for different clients and also add an expense to an invoice as reimbursement for specific clients. The Expense Tool can be synced with the user’s credit and bank account which makes it easier to import expenses from their bank account.

• Time-tracking

Users can track time against particular projects and clients. Time tracking can be enabled in various applications including Trello, Asana, and Basecamp by installing a Chrome extension.

FreshBooks offers a range of flexible billing features which enable users to charge clients on an hourly basis or at a flat rate based on their agreement with the client.

• Reporting

Manual data entry into a spreadsheet is prone to error and counter-productive. FreshBooks addresses this issue and allows users to generate reports by processing data that has been entered.

Type of reports that can be generated:

• Profit and loss reports
• Expense reports
• Tax reports

FreshBooks Important Features

Invoicing

Expense tracking

Time tracking

Projects

Accounting reports & taxes

Payments

FreshBooks Pricing

FreshBooks’s pricing plans are extremely affordable and tailor-made for different clients.

Lite

• Ideal for: customers with basic requirements
• Price: $ 4.5 per month
• 5 billable clients

Plus

• Ideal for: owners looking for additional insights and automation
• Price: $ 7.5 per month
• 50 billable clients

Premium

• Ideal for: growing businesses
• Price: $ 15 per month
• Unlimited billable clients

Select

• Ideal for: businesses with complex needs
• Price: custom pricing
• Unlimited billable clients

For more information related to what features are included in each plan, visit the vendor’s website.

FreshBooks Pros and Cons

FreshBooks Integrations

FreshBooks Specifications

Free Trial – Yes

Free version – Yes

Deployment

• Cloud, SaaS
• Cloud-hosted

Devices supported

• Android
• Windows
• iPhone/iPad
• Mac
• Web-based

Training

• Webinars
• Documentation
• Live online
• Videos

Typical customers

• Small businesses
• Businesses working with contractors
• Businesses working with employees
• Freelancers
• Self-employed professionals

FreshBooks pricing

• Lite: from $ 4.5 per month
• Plus: from $ 7.5 per month
• Premium: from $ 15 per month
• Select: custom pricing

Languages supported

• English
• French

FreshBooks support

• Email
• Phone
• Live support
• Training
• Tickets

FreshBooks Alternatives