FreshBooks Review: FreshBooks is not just another accounting software; it is a game-changer for small businesses and freelancers alike. With its user-friendly platform and an array of powerful features, FreshBooks has become a go-to solution for streamlining financial management. Whether you’re a sole proprietor, freelancer, or a growing small business, FreshBooks offers the tools and simplicity you need to stay organized and focused on what matters most – your business.
In this article, we’ll delve into the world of FreshBooks, exploring its standout capabilities, pricing options, and how it outshines the competition, making it the top choice for entrepreneurs seeking accounting excellence. Let’s discover why FreshBooks is more than just accounting software – it’s the secret to success for businesses of all sizes.
Table of Contents
What Is FreshBooks?
How FreshBooks Works
The FreshBooks dashboard is the starting point of the platform. It gives you an overview of your company’s outstanding revenue and total profit. The left sidebar helps you navigate through payments, expenses, and any other functions you need. The simple design is easy to understand, leaving little room for confusion.
FreshBooks includes many capabilities that make it a great accounting and invoicing software for freelancers, solopreneurs, and small business owners. It allows you to easily set up an invoice and accept payments via credit and debit cards, ACH transfers, Stripe, and PayPal. The credit card processing fee is 2.9% plus 30 cents per transaction for Visa, Mastercard, and Discover, which is standard for the industry. The American Express fee is 3.5% plus 30 cents per transaction.
What Sets FreshBooks Apart
When it comes to features and capabilities, FreshBooks offers the commonly required features that all accounting software does. What sets it apart from the competition is not a single feature, but its simplicity. Accounting can be confusing and overwhelming for business owners who are not skilled accountants. FreshBooks simplifies the control panel, making it easy to switch between certain functions and reports.
FreshBooks Features
Ease of Use
FreshBooks is known for its user-friendly platform. Whether you’re navigating from entering expenses to collecting payments, the sidebar is intuitive to use and doesn’t get lost in confusing jargon. In addition, FreshBooks has an easy-to-use mobile app that allows you to enter data when you need it while you’re out of the office. This helps you not fall behind on entries when working away from your desk.
Tax Filing
FreshBooks makes tax filing easy. Get a snapshot of your total income so you can correctly report your business income. Categorize expenses so you can run reports and get totals for your deductions. All this data is at your fingertips so you can share it with your accountant. Higher-level plans offer access to the accountant, making it even easier for the business owner to share the necessary data with their tax preparer and reduce the possibility of errors.
Time Tracking
One of the key expenses a business owner must track is the hours worked by employees on a project. FreshBooks has specialized time-tracking software that integrates with FreshBooks to make invoicing quick and easy. It also helps business owners manage projects and clients so they know how many hours are worked for any given task.
Analytics & Reporting
Always have the reports you need at your fingertips with FreshBooks. In the Reports tab, you can access the most popular business accounting reports, such as profit and loss, sales tax summary, aged accounts, invoice details and expense reports. Viewing these reports helps the business owner better understand the financial health of their company and is critical in the day-to-day management of the organization.
Accessibility
Desktime includes a complete telephone time tracking application.
The application allows you to quickly track your or your employees’ time at work.
It offers two options when you are away from your desk: project-based time tracking and manual time tracking.
The DeskTime mobile app is intuitive and easy to navigate.
It gives you important desktop features such as team member management, offline time allocation, and project progress.
Invoicing
FreshBooks is cloud-based. This means you can access the platform from anywhere as long as you have an Internet connection. Whether you use the desktop software or the mobile app, you can itemize expenses, send invoices and run reports. The app makes it easy to track mileage and expenses on the go.
FreshBooks Pricing & Plans
FreshBooks is reasonably priced in the accounting software arena. The Lite program costs only $17 per month. Users get a 50% discount on the annual price. This means that the Lite plan costs only $8.50 per month for the first six months. The Plus and Premium plans cost $15 and $27.50 per month, respectively. This includes the 10% discount you get when you bill annually. In addition, the platform has a 30-day free trial. This is plenty of time to see if the platform meets your business needs and will perform the functions you want.
| Lite | Plus | Premium | |
|---|---|---|---|
| Starting Price | $13 .60 per month | $24 .00 per month | $44 .00 per month |
| Accountant Access | No | Yes | Yes |
| Bank Reconciliation | No | Yes | Yes |
| Double-Entry Accounting Reports | No | Yes | Yes |
| Tax Time Reports | Yes | Yes | Yes |
| Performance Dashboards | Yes | Yes | Yes |
| Dedicated Account Manager | No | No | No |
| Accounts Payable | No | No | Yes |
| Third-Party Integrations | 100-plus | 100-plus | 100-plus |
| Money-Back Guarantee | 30 days | 30 days | 30 days |
| Customer Support | Phone or chatbot | Phone or chatbot | Phone or chatbot |
With the Lite plan, you can send unlimited invoices to a maximum of five billable clients. That number increases to 50 billable clients with the Plus plan and to an unlimited number with the Premium plan.
The Lite plan offers the essentials and is best for people who only have a couple of clients and don’t have a business model focused on getting more. You can still send credit card payments and bank transfers and track unlimited expenses, some of the key tools freelancers need. This plan also allows you to easily keep track of payroll through integration with Gusto Payments.
For an additional cost, the Plus plan offers a more robust selection of features and is best suited for solo business owners who have more than five clients. In addition to 50 billable clients, the Plus plan offers double-entry accounting reports and the ability to invite your accountant, as well as set up recurring billing and client retainers.
It offers everything the Lite plan offers, as well as the ability to accept electronic signatures on proposals and contracts. The Plus plan will allow you to send an unlimited number of proposals and accept client retainers for recurring work. You will be able to use automatic expense receipt capture to simplify accounting for common expenses such as meals and travel.
The Premium level allows you to customize email templates and signatures, as well as automated customer emails with dynamic fields. This level allows you to track invoices, invoice and vendor payments with Accounts Payable and project profitability. Both the Plus and Premium plans offer the ability to bill customers using a subscription-based model. The Premium plan allows you to run project profitability reports to better manage your business and the projects you take on.
FreshBooks Customer Service & Support
FreshBooks offers several ways to get support. There is a phone support number, an email form, and a chatbot that can provide service. The telephone support number is 866-303-6061. In addition to these forms of assistance, users can utilize the extensive knowledge base offered by the company. By entering your question in the chat, you will be directed to articles that often answer the question without the need for further assistance.
Additional Features Worth Noting
FreshBooks is known for its intuitive and easy-to-navigate interface. If you’re looking for a simple solution to organize your company’s accounting in one system, it won’t take you long to get started with the basics and send your first invoice.
FreshBooks Alternatives and How They Compare
| FreshBooks | Intuit QuickBooks | Wave Accounting | Xero | |
|---|---|---|---|---|
| Rating |  | Phone and email support, live chat, knowledge base, and help center |  | |
| Starting Price | $8.50 per month | $15 per month | Free | $13 per month |
| Free Trial | 30 days | 30 days | None | 30 days |
| Integrations | 100-plus | 750-plus | 38 | Eight |
| Double-Entry Accounting | Yes | Yes | Yes | Yes |
| Bank Import | Yes | Yes | Yes | Yes |
| Tax Time Reports | Yes | Yes | Yes | Yes |
| Online Credit Card Payments | Yes | Yes | Yes | Yes |
| Checkout Links | Yes | Yes | Yes | Yes |
| Money- Back Guarantee | No | No | No | No |
| Customer Support | Phone and email support, live chat, knowledge base, & help center | Live chat, video tutorials, phone & email support | Phone and email support for a fee, knowledge base & chatbot | 24/7 online support |
FAQ’s
Does FreshBooks support multiple payment methods?
Yes, FreshBooks supports multiple payment options for your convenience. You can accept payments via credit and debit cards, ACH transfers, Stripe, and PayPal. This flexibility allows you to cater to your client’s preferences and get paid faster.
Can I collaborate with my accountant using FreshBooks?
Yes, FreshBooks allows you to collaborate with your accountant seamlessly. With the Plus and Premium plans, you can provide your accountant with access to your FreshBooks account, making it easier to share financial data and work together on tax preparation and reporting.
How does FreshBooks simplify tax filing?
FreshBooks simplifies tax filing by categorizing expenses, providing tax time reports, and offering a snapshot of your total income. These features help you accurately report your business income and deductions, ensuring a smooth tax preparation process.
Does FreshBooks offer time-tracking features?
Yes, FreshBooks provides specialized time-tracking software that integrates seamlessly with the platform. You can track hours worked by employees on projects, making it easier to invoice clients accurately and manage project timelines.
Does FreshBooks offer customer support options?
Yes, FreshBooks provides various customer support channels. You can reach out to their support team via phone, email, or live chat. Additionally, they have an extensive knowledge base with articles and tutorials to help you find answers to common questions and troubleshoot issues on your own.
Mike DaVinci HighTechBlogging.com
Mike DaVinci is a skilled content writer with a talent for storytelling. He specializes in creating captivating narratives that engage readers and leave them feeling inspired. His writing has been featured in various publications, including magazines, blogs, and business websites. Mike’s particular interest in human interest stories allows him to uncover the heart of any story and convey it to his readers in an emotional and authentic way. He believes that storytelling is a powerful tool for connecting with people and inspiring positive change in the world.
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