Due to FTC requirements, I am required to provide the following disclosure: Some of the links below are affiliate links. If based on this review you decide the product fits your business needs and you register to use Freshbooks through a link on our site, I will be paid a commission for the referral.
What is FreshBooks?
FreshBooks is a cloud based accounting software package that offers numerous benefits for small business owners. While there are many features, the primary emphasis of the product is on client invoicing and project time keeping. FreshBooks offers tremendous flexibility with invoice document customization, while keeping the user in mind; it is fairly easy to modify your invoice documents. No matter what industry you are in, business is competitive and emphasizing your business brand where ever possible is one extra measure a small business can take to leave its' mark.
Additionally, the pricing plans for this software are very reasonable. They offer an introductory 30-day free trial, then Pricing plans are tiered based on the features/requirements of your business needs.
Having owned a couple fledgling businesses, I wasn't an accountant and I wanted to focus my energy on building my business, doing great work, and creating a positive experience for my customers. I didn't want to spend time trying to learn the details of "proper" accounting and I didn't have the money to bring an accountant on board. Freshbooks offers accounting solutions for small businesses, and they simplify the accounting process. The program allows for the automation of: client follow-up, time tracking, and expense organization. Additionally, there are integrated features with apps like PayPal, G Suite, and Shopify, to include MasterCard and Visa, allowing you to receive payments online - facilitating faster pay turn-around times... better business cash-flow.
It's important to mention that the Freshbooks mobile app is compatible with iOS and Android. This added flexibility allows you to take care of business from just about anywhere. The mobile app allows for invoicing, expense logging, time tracking, and you can receive updates on business transactions in real-time.
Freshbooks Software Demo
Setting aside the simplified small business accounting, the suite offers automated task prioritization, invoice customization, payment tracking (to include late payments), create and send invoices, and photo receipt capture. Data is also secure and safe, with secure backups. For recurring customers, you can set up a billing schedule and link customer credit cards to the cycle so you are paid seamlessly with Billing and Invoicing. For small businesses doing international business, currency can be set based on the customer preference. Additionally, the software integrates with your bank, to allow you to integrate expense tracking; which is great for tax time reporting.
Some additional benefits are:
- file attachment
- triggered notifications
- alerts for delayed payments
- assign rates by project
- bill tracking
- easily customized invoices
- invoice receipt notification (you can see if a customer received the invoice)
- automated late fee charging
- expense tracking and organization
- project/job time tracking (integrated with Basecamp, Asana, and Trello)
- billing flexibility (to charge hourly or on a flat rate basis pending agreement)
To compare Freshbooks with QuickBooks visit: FreshBooks vs QuickBooks