FreshBooks 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 based on our experience using the software. We will look at some of the main features every business uses and include screenshots.

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

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FreshBooks Accounting Software Discount

Freshbooks is currently offering a 70% discount for the first 3 months of service, which is excellent 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 many 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!

Alternatives to FreshBooks

FreshBooks is a popular accounting software gaining traction among small businesses due to its user-friendly interface and features. However, other alternatives in the market can provide similar or even better services for business owners. This article will discuss the top accounting software options for small businesses that can be used as an alternative to FreshBooks.

1. QuickBooks

QuickBooks is one of the most widely used accounting software by businesses of all sizes. It offers comprehensive tools for managing finances, including invoicing, payroll, inventory tracking, and more. With its simple navigation and customisable reports, QuickBooks makes it easy for non-accounting professionals to use and understand their financial data. It is beneficial for freelancers and small businesses.

2. Xero

Xero is a popular accounting software that caters specifically to small businesses. With its user-friendly interface and comprehensive features, Xero allows small business owners to manage their finances and track their transactions easily. It offers features such as invoicing, bank reconciliations, expense tracking, and inventory management, making it an all-in-one solution for small businesses.

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 excellent features for tracking expenses and invoicing clients. 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.

Below are some of the best features that a small business might find helpful:

Mileage and Expense Tracking

FreshBooks is an invoicing and accounting software offering mileage and expense tracking. This feature is handy 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 tracking and managing these costs easy. In addition, FreshBooks integrates with GPS apps, so users can automatically log their mileage without manually entering 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 – keeping track of deadlines, budgets, and assigned tasks can be challenging. 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-designed app that allows users to track their finances on the go. The mobile app has a clean interface and is easy to navigate, and the desktop version is also well-designed and user-friendly.

I particularly like the 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 on both mobile and desktop.

FreshBooks Accounting Software Pricing

The first thing to look at is their pricing structure and the value for money. Most small businesses I have dealt with try to 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 has 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.

The most popular plan is their Plus, which suits most small to medium-sized businesses. However, if you have many different clients, you may quickly outgrow the Plus plan and need to upgrade to the premium.

All plans have an additional monthly rate for team members of £7. 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 trying it out for free to see if it is suitable for your 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.

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

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

The main problem I found for my business with the trial is that it is set to the Lite package, which means 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, which could make it an ideal starting point and an ideal upgrade as the business grows.

FreshBooks Accounting Features

Below are some of the accounting features found in FreshBooks.

FreshBooks Customer Support

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

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

FreshBooks Review – Plus Plan

Having upgraded to the Plus plan, everything I would expect is available. 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 creating customer invoices. FreshBooks has simplified this process.

They have three different invoice templates. Importing a logo is quick, 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.

You can send invoices by email or print or download PDF invoices directly from the software. You can also accept customer payments through Stripe or Paypal, although this feature incurs transaction charges.

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

Overall, FreshBooks is excellent for managing invoices.

Recurring Invoicing

Recurring invoices in FreshBooks are a breeze. You can set up recurring invoices to bill your clients automatically on a schedule that works best for you – 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

FreshBooks is a great tool for automating everything if you need help keeping track of your accounts receivable and managing the invoices. Setting up payment reminders and adding automatic late payment fees for customers who regularly pay late is easy.

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 your business runs smoothly.

Accepting Online Payments

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

Supplier Invoices

Adding a supplier’s bill to the system is simple: Allocating it to a code. While entering a bill, you can add a client or project, enabling you to track costs.

If you want 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 below:

To track how much you owe a supplier, you must upgrade to the premium version. The standard accounts payable is not available in Plus. This system might be easier to understand for small businesses and people new to accounts.

Bank Reconciliation

Having the bank feed for the bank account and using the reconciliation feature saves time when 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.

If you do not have a supplier invoice to match, you can add it using ‘create new entry’. It opens in a new window. The only problem with this is that you can’t see the transaction details, so either write them down or remember them. Other accounting software packages I use allow you to add a quick entry in 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 essential sections of our FreshBooks review is the section on accounting reports available for small business owners.

A good selection of reports includes balance sheet, profit and Loss, invoice details, and expenses. Each report has filters that enable you to get the required information.

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

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, allowing you to see your account at a glance.

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

Mobile mileage tracking is also a great feature. Even if you do not claim customer mileage costs, 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 manually entering the data. The current mileage rate claimable is 45p per mile.

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

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

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

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 when you try to integrate them from Excel spreadsheets or pull information from other places.

Conclusion

Many accounting software packages are available, and different small businesses will require different software. FreshBooks is better suited for a small freelancer or business owner who wants to spend little time on accounting.

FreshBooks is easy to navigate and set up. It has features like allocating time, mileage, and 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 an available trial.

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

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