FreshBooks Review

FreshBooks Accounting Software Review

Our FreshBooks review will walk you through the software and answer some questions to see if it suits your business. All our views are independent and are from using the software. We will look at some of the main features that every business uses and include screenshots.

FreshBooks accounting software was founded in 2003, and the software has developed since then. It is an online cloud-based accounting solution aimed at small to medium-sized businesses.

making tax digital compliant for VAT, and you can even submit your self-assessment tax return by using Go Simple Tax. There is an additional fee of £49 for single or £69 for partnerships.

FreshBooks Accounting Software Discount

Freshbooks is currently offering a 70% discount for the first 3 months of service, which is great value for money. This is an incredible opportunity to save on your accounting and bookkeeping needs.

With FreshBooks, you can track your income and expenses, create invoices and estimates, manage projects, and collect payments. The software is easy to use and has a wide range of features to meet your specific needs. FreshBooks also offers excellent customer support, so you can be sure you’re getting the most out of your investment. Don’t miss this chance to get FreshBooks at an unbeatable price – sign up today!

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What are the Benefits of FreshBooks

Freshbooks has many advantages over traditional desktop software. For one, it is much easier to use. The interface is designed for non-accountants, so you don’t have to be a numbers person to get started.

Freshbooks also has great features for tracking expenses and invoicing clients. And because it’s cloud-based, you can access your data from any device, making it very convenient. Perhaps the biggest advantage of Freshbooks, though, is that it’s very affordable. There are no upfront costs or monthly subscription fees; you only pay when you use it. So if you’re looking for an easy-to-use, feature-rich, and affordable accounting solution, Freshbooks is a great option.

FreshBooks Pros and Cons
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Below are some of the best features that a small business might find useful:

Mileage and Expense Tracking

FreshBooks is an invoicing and accounting software that also offers mileage and expense tracking. This feature is particularly useful for small businesses and freelance professionals who need to keep track of their business-related expenses.

With FreshBooks, users can easily add mileage and expenses to their invoices, making it easy to track and manage these costs. In addition, FreshBooks integrates with GPS apps, so users can automatically log their mileage without having to manually enter the data. This saves time and ensures accuracy. Overall, the tracking feature in FreshBooks is a valuable tool for small businesses and freelancers who need to manage their expenses.

Project Profitability

Project accounting can be a real headache – trying to keep track of deadlines, budget, and assigned tasks. But with FreshBooks, project management is a breeze. Not only does it allow you to print project profitability reports, but you can also see how productive your team is.

This way, you can quickly identify any bottlenecks in the project and make necessary adjustments. As a result, FreshBooks makes project management simple and efficient – giving you more time to focus on other parts of your business.

User Experience

FreshBooks is a well-laid-out app that allows users to keep track of their finances on the go. The FreshBooks mobile apps have a clean interface and is easy to navigate. The desktop version is also well designed and user-friendly.

I particularly like the fact that there is a separate section for tracking invoices and payments. This makes it easy to see what is due and when it is due. Overall, FreshBooks provides a great user experience, in both mobility and desktop.

FreshBooks Accounting Software Pricing

The first thing to look at is their pricing structure and the value for money. Most small businesses that I have dealt with try and keep their costs low, and the accounting software is one place where they do not want to pay much.

One thing to note is the number of clients on each plan, although the Lite plan is 5 clients, these can be active clients. Once a job is complete you can keep the data, but remove the client from the list. Although the clients are restricted you can send unlimited invoices.

Lite – £11 pm

5 Clients
Track expenses
Send invoices
Get paid by bank cards
App available
MTD VAT filing

Plus – £19 pm

As Lite plus
50 Clients
Track expenses
Double entry reports
Bank Reconciliation
Accountant Access

Premium – £30 pm

As Plus and
Unlimited clients
email templates
Accounts payable
Profit projection

The most popular plan is their plus; this will suit most small to medium-sized businesses. One thing to think about is that if you have lots of different clients, you may quickly outgrow the Plus plan and need to upgrade to the premium.

All plans have an additional rate for team members of £7 per month. However, the pricing is very similar to QuickBooks or Xero. Some of their packages include additional users.

Check out the comparison and full pricing on FreshBooks.

FreshBooks Free 30-Day Trial

When looking for the best accounting software, it is always worth taking out their free trial to see if it is suitable for the business needs. FreshBooks offers a 30-day trial, which I signed up for.

Signing up and setting up the business was easy. Below is an image of the opening dashboard; it will walk you through each setup stage.

FreshBooks review dashboard

When I take out a trial, I always set it up for my business, that way I can see if it is suitable.

On first impressions, the software looks simple to use, with easy navigation on the left menu.

The main problem I found for my business with the trial it is set to the Lite package. This meant there are restrictions on the package. I linked up the bank feed to find it only enters the outgoings. You have to post income manually, which is easy.

As a very small business, you may find the FreshBooks Lite version is enough, but for me, it has too many limitations, including:

  • Not being able to enter opening balances.
  • Journal entries are only available to an invited accountant.
  • Only imports bank expenses.

The Lite version is aimed at people who do not want to get involved in complicated accounting. It is a single-entry version of the system. This could make it an ideal starting point and then upgrade as the business grows.

FreshBooks Accounting Features

Below are some of the accounting features found in FreshBooks.

FreshBooks Customer Support

Having the limitations of the Lite version, I contacted the customer support team. They replied very fast, within a couple of hours and were very helpful. I managed to get the plan upgraded, and they also provide some good links to a webinar to get started.

This is about the fastest accounting customer support I have received from any accounting software provider.

FreshBooks Review – Plus Plan

Having upgraded to the plus plan, everything is there that I would expect. Bank feeds are working well. One thing that they have achieved is user experience. They have made the software easy for a user to find their way around.

FreshBooks Invoice Template

One of the most important tasks for any small business is invoice creation for customers. This is something that FreshBooks has made simple.

They have three different invoice templates, it is quick to import a logo, and you can change the base colour. Some other packages allow you to import a template, although this is often complicated.

Below is an example invoice created using the simple template.

Freshbooks Invoice Example

For sending invoices you can either email, print or download the PDF invoice directly within the software. You can accept payments made by the customer either through Stripe or Paypal, although there are transaction charges for this feature.

One thing that FreshBooks does well is creating invoices and tracking costs to a client. As a business this allows you to easily check that all expenses are passed on to the client.

Overall FreshBooks is great to manage invoices.

Recurring Invoicing

Recurring invoices in FreshBooks is a breeze. You can set up recurring invoices to bill your clients automatically on a schedule that works best for you – whether that’s monthly, weekly, or even daily. Best of all, recurring invoicing helps to streamline your billing process so that you can focus on other areas of your business.

Accounts Receivable

If you need help keeping track of your accounts receivable and managing the invoices, FreshBooks has a great tool for automating everything. It is easy to set up payment reminders and add automatic late payment fees for customers who regularly pay late.

The “Reports” feature enables you to generate reports that show which invoices are outstanding and who owes you money. This feature is a great way to stay on top of your finances and ensure that your business is running smoothly.

Accepting Online Payments

FreshBooks makes it easy to invoice your clients and get paid online. With FreshBooks, you can accept online payments via credit card or PayPal. This makes it convenient for your clients to pay you, and helps you get paid faster.

Supplier Invoices

It is simple to add a bill from a supplier to the system, allocating it to a code. Whilst entering a bill, you can add a client or project, enabling you to track costs.

If you are looking to automate the process you can use a product like Dext to import the transactions and post them to the software, making it quick and easy.

Once the bill is added it is included in the list as below:

Adding expenses to FreshBooks

If you want to track how much you owe a supplier, you have to upgrade to the premium version. The standard accounts payable is not available in Plus. For small businesses and people new to accounts, this system might be easier to understand.

Bank Reconciliation

Having the bank feed for the bank account and using the reconciliation feature, saves time in manually adding payments and reconciling everything.

The image below shows the bank feed and supplier invoices; the process is to tick the matching payment and invoice. When the amounts match at the top, the ‘mark as’ changes to ‘match’ – click on a match, and they both disappear.

Freshbooks Bank Reconciliation

If you do not have a supplier invoice to match, you can add it by using ‘create new entry’. It opens op a new window. the only problem with this is you can’t see the transaction details, so either write it down or remember it. Other accounting software packages I use allows you to add a quick entry on the same window.

The bank reconciliation is simple to use and speeds up the accounting process, rather than adding payments manually.

Financial Reporting

One of the most important sections of our FreshBooks review is to look at the accounting reports available for small business owners.

There is a good selection of reports, including balance sheetprofit and Loss, invoice details and expenses. There are filters within each report; this enables you to get the information required.

There is an option to set the favourite reports for easy access. The one thing I do not like about the reports is there is no PDF version. There is an Excel download, and you can email it within the software, but there are times when you may require a report that can’t be changed.

FreshBooks Reports

FreshBooks App

As with most accounting packages, FreshBooks has created an App for use on the go. The app has been rated 4.5 stars with over 3000 reviews and is great for small business owners on the go.

The image on the right is the standard dashboard and allows you to see your account at a glance.

One of the most useful things in any accounting application is raising invoices when you have completed a job. This allows you to finish a job and create an invoice immediately. If you have also got payments set up, the client can pay immediately.

Mobile mileage tracking is also a great feature, even if you do not claim mileage costs from customers you can use it to claim any business mileage. FreshBooks automatically integrates with GPS applications, so users can automatically log their mileage within the software without having to manually enter the data. The current mileage rate claimable is 45p per mile.

The expenses section enables you to add the expense details and also add a photo of the receipt directly to the software.

Time tracking is also available. This may be an important feature for a freelancer, knowing how many hours you have worked and what’s invoiceable.

FreshBooks App

I think the app is an excellent part of the FreshBooks software and will help a business that is on the go to record transactions as they happen. It saves time at the end of the day to deal with paperwork.

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Additional Features – FreshBooks Review

So far in our FreshBooks review, we have looked at the standard features you would expect from an accounting package. FreshBooks has included some additional features that might be the turning point for some businesses. These features include:

  • Quotes
  • Time Tracking
  • Projects

All these features integrate well within FreshBooks and may save you time and money trying to integrate them from Excel spreadsheets, or pulling information from other places.

Conclusion

There are many accounting software packages available and different small businesses will require different software. I feel the FreshBooks is more suited for a small freelancer and business owner, who wants to spend little time on accounting.

FreshBooks is easy to navigate and set up. It has some features like time, mileage and allocating expenses to clients that will help some businesses.

As with choosing any software, it is always worth spending time reviewing the business requirements and if the software fits. Take time and use a trial that is available.

Overall FreshBooks is easy-to-use accounting and invoicing software package.

If you have found our FreshBooks review useful read our other accounting software reviews.