FreshBooks is a cloud-based accounting program that permits you to create and ship limitless invoices, handle shoppers and tasks, and settle for funds on-line. It provides a sturdy set of options, together with double-entry accounting, recurring invoices, venture administration, and cellular accounting. It has 4 plans with month-to-month charges that begin at $15 per 30 days for one consumer, and you’ll pay for extra seats as wanted. FreshBooks is providing 60% off for 3 months on all subscription packages.
Are you in search of one thing totally different? See our analysis of the greatest small enterprise accounting software program.
FreshBooks Deciding Components
FreshBooks New Options 2023
- New checkout hyperlinks: Checkout hyperlinks, reusable hyperlinks that clients can use to course of funds instantly, now embrace phrases and circumstances and delivery addresses.
- Comma-separated values (CSV) imports: When performing financial institution reconciliations, now you can import CSV information to make reconciliation sooner.
FSB Case Examine
Our case examine exhibits a side-by-side comparability of FreshBooks, Dawn, and QuickBooks On-line that can assist you determine which is correct for your online business.
FreshBooks vs Rivals FSB Case Examine
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Beginning at $15 per 30 days, $50 as examined
Beginning at $30 per 30 days, $85 as examined
FreshBooks didn’t disappoint in accounting options, besides stock. General, FreshBooks focuses extra on simplicity and usefulness. Its core characteristic is to make it simple for customers to deal with accounting options—and that’s why it’s greatest fitted to freelancers, solopreneurs, and really small companies.
It stacks properly with our free accounting software program different, Lendio Accounting. Nevertheless, we extremely suggest selecting FreshBooks for venture accounting, accounts receivable (A/R), and accounts payable (A/P). We additionally included QuickBooks On-line in our comparability as a result of in case you outgrow FreshBooks sooner or later or discover its options insufficient to your wants, we suggest upgrading to QuickBooks On-line.
We gave FreshBooks solely 3 factors out of 5 for pricing as a result of it prices $95 per 30 days for 5 customers, which is definitely costlier than QuickBooks On-line Plus, which additionally consists of 5 customers and higher options together with stock. Though FreshBooks is inexpensive for one consumer, we thought-about the truth that some small companies would possibly want so as to add extra customers.
FreshBooks provides 4 plans with month-to-month charges that begin at $15 per 30 days. The plans differ when it comes to the utmost variety of billable shoppers and the superior options out there, similar to automated recurring invoices, double-entry accounting stories, and a devoted account supervisor. It can save you a further 10% by paying yearly.
Beneath, we offer a fast evaluation of FreshBooks inside every class in our complete case examine that can assist you determine if it’s the precise software program for you. We additionally embrace movies of our detailed evaluation of every characteristic.
Establishing FreshBooks is comparatively simple however took some time. We gave it a below-average rating as a result of it lacks sure options which might be important in accounting software program, like setting the entity kind and modifying the chart of accounts. Nevertheless, these lacking options should not be seen as a whole miss for FreshBooks, which nonetheless proves to be a very good match for sure customers, similar to freelancers and solopreneurs.
One other limitation we see right here is that accountant entry is simply out there within the Plus and better plans. Freelancers who don’t have information of accounting are the first shoppers of licensed public accountants (CPAs) and bookkeepers. In the event that they select to get a Lite subscription, they gained’t be capable to invite their private accountant except they improve plans.
Nevertheless, we nonetheless commend FreshBooks for its simplicity. As accounting and bookkeeping consultants right here at Match Small Enterprise, we noticed that FreshBooks is user-friendly for these eager to get their enterprise so as because it’s accounting made simple however with some sacrifices in sure options.
FreshBooks Basic Options Video
Accessible for Premium and Choose customers, the A/P device consists of invoice and vendor administration options, which could be discovered beneath the Bills tab. Transactions entered manually should be recorded to the Petty Money account—and people transactions could be assigned to a checking account when the transaction is imported by way of the financial institution connection and through financial institution reconciliation. Subsequently, there’s no strategy to assign bills to the suitable cost accounts with out permitting FreshBooks entry to your checking account.
Connecting your checking account is a superb time-saving characteristic. Nevertheless, in case you’re uncomfortable permitting a connection, you’ll be higher off with QuickBooks, which permits a connection however doesn’t require it.
On a tangent, you’ll be able to create a brand new vendor on the fly and enter a invoice from scratch or by importing a receipt. To enter a brand new invoice, click on on the Bills menu, choose the Payments drop-down menu, after which faucet on the New Invoice button. Present the required particulars within the New Invoice display after which click on Save.
FreshBooks additionally permits you to file a cost and assign it as billable to a venture or contractor. You may also arrange nonstock and repair gadgets inside a service order and add a default value for every merchandise, however you’ll be able to’t use the merchandise to pay unbiased contractors. A/P is linked to your money movement assertion and revenue and loss (P&L) stories, so you’ll be able to view excellent payments immediately.
FreshBooks A/P Options Video
There are numerous necessary invoicing options in FreshBooks, however its excellent bill customization options are the explanation why it has a excessive rating on this space. Its invoices look skilled, and you’ll customise the fashion, add a emblem, embrace a private message, and add gadgets, similar to stock, labor and bills, and gross sales tax. You may also e mail and print your bill.
One other good characteristic is the power to create recurring invoices, which is useful in case you’re billing a buyer for a similar quantity regularly. You may also view a filtered checklist of your excellent invoices so to ship your clients a pleasant reminder.
So as to add a brand new bill, click on on the Invoices part, hit the New Bill button, add your particulars and customise your bill, after which click on Save:
Regardless of its nice options, its A/R has shortcomings. You’ll be able to’t difficulty a receipt for a sale paid instantly, difficulty a refund verify to settle a adverse A/R, and embrace a gross sales tax adjustment on a credit score memo.
FreshBooks A/R Options Video
FreshBooks doesn’t carry out properly when it comes to banking and money administration. You’ll be able to’t reconcile financial institution statements except you join your checking account. In case you’re uncomfortable connecting your checking account, then this isn’t for you. On the very least, good accounting software program ought to help you file a verify within the register—however that’s not potential with FreshBooks.
All transactions are deposited or withdrawn from money available robotically. From there, transactions could be assigned to financial institution accounts, however solely by using the connection to your checking account. This makes FreshBooks almost unusable in case you don’t set up the financial institution connection. Even in case you join your financial institution, there’s no strategy to assign excellent checks to a selected account so to see an out there stability.
Virtually all software program enable a financial institution connection, however FreshBooks is the one one amongst its main rivals that requires the connection. However we don’t have a look at this in a completely adverse manner. With FreshBooks, customers don’t have to recollect to assign bills to a selected financial institution or bank card account. Document the expense, then FreshBooks will assign it to the correct account primarily based on the transactions it receives from the financial institution feeds.
FreshBooks Banking & Money Administration Options Video
In case you want venture accounting, FreshBooks is a perfect alternative—except you want stock accounting. It consists of venture administration options that work straight with its invoicing device that can assist you handle timelines and simplify venture workflows. You’ll be able to create an estimate and add gadgets similar to labor, stock, and gross sales taxes.
As soon as authorized, you’ll be able to convert an estimate to a venture and allocate precise labor price particulars. You may also evaluate estimated prices towards precise prices, which is necessary for funds planning. In case you want specialised accounting software program for venture administration, try our checklist of the greatest contractor accounting software program.
FreshBooks Challenge Accounting Options Video
FreshBooks helps you to add gross sales tax gadgets to payments, bills, invoices, credit score notes, and different revenue and vendor transactions. When you can observe gross sales taxes, you need to manually arrange the gross sales tax for every jurisdiction the place you’ll be gathering tax. You’ll be able to generate a tax abstract report back to see the quantity of gross sales tax collected in addition to view your gross sales tax liabilities. Nevertheless, you’ll be able to’t use FreshBooks to pay and file your tax returns.
We evaluated the gross sales and revenue tax options throughout the opposite classes, so there’s no separate video.
When you can arrange stock descriptions to be added to payments simply, there’s no strategy to observe the variety of gadgets available, the worth of inventory out there, and the price of your stock bought. Monitoring your stock prices by hand with a spreadsheet may be very time-consuming and pointless with the precise software program. So, if your online business offers with inventories, then it’s good to search for a substitute for FreshBooks—and we suggest extra highly effective options like Xero, QuickBooks On-line, or Zoho Books to keep away from a spreadsheet nightmare.
As with gross sales and revenue tax, FreshBooks’s stock administration is assessed throughout the opposite classes, so now we have no separate video.
In case you solely want primary monetary reporting, you need to do effective with FreshBooks. It generates a variety of stories, however they aren’t as detailed as QuickBooks On-line’s. For example, the stability sheets solely present major classes, which implies you’ll be able to’t drill down in stories for extra particular ranges of element, similar to lessons and site. Different stories out there embrace A/R growing older, A/P growing older, revenue or loss by month or by buyer, trial stability, and basic ledgers.
FreshBooks has earned a repute for its award-winning customer support. It provides almost all sorts of buyer assist, together with cellphone and e mail assist. You’ll be able to communicate with a customer support consultant over the cellphone, which is uncommon amongst accounting software program suppliers.
You may also browse its huge self-help assets, which embrace how-to articles and solutions to continuously requested questions. Amid FreshBooks’s limitations in scalability, we nonetheless reward the software program for offering a simple accounting answer to customers with out accounting information.
FreshBooks Ease of Use Video
FreshBooks has a succesful cellular app that you need to use for sending invoices. It will probably execute virtually all of the features of the desktop interface—you’ll be able to enter payments, settle for funds, connect receipts, and file time labored. In case you typically do your online business on the go, FreshBooks’ cellular app gained’t disappoint you.
What’s lacking within the app is assigning bills to tasks. We reward FreshBooks for its venture accounting options—and we’d prefer to see this within the cellular app. Furthermore, there’s no strategy to enter invoice funds and categorize financial institution feed transactions from inside the app.
FreshBooks Cell App Video
We verify consumer assessment websites to see precise suggestions from customers. Majority of the constructive FreshBooks evaluations spotlight its usability and compatibility with solopreneurs, very small companies, and professionals. Nevertheless, some reviewers talked about that its main downside is that it’s not constructed for big firms:
- GetApp: 4.5 out of 5 stars primarily based on about 3,800 evaluations
- G2.com: 4.5 out of 5 stars primarily based on about 605 evaluations
- Google Play: 4.3 out of 5 stars primarily based on about 4,600 evaluations
- App Retailer: 4.7 out of 5 stars primarily based on about 2,600 evaluations
Assisted Bookkeeping Choices
FreshBooks itself doesn’t supply assisted bookkeeping, but it surely companions with Bench, a web based bookkeeping service, to supply customers with bookkeeping, tax preparation, and tax advisory companies. You’ll be assigned a devoted digital bookkeeper who will take over your bookkeeping duties, from reconciling your accounts to producing stories. For info on pricing, options, and general platform usability, learn our Bench Accounting assessment.
FreshBooks integrates with greater than 70 software program packages. These embrace Zoom, Shopify, Squarespace, Gusto, Google Workspace, Fundbox, Stripe, Bench, HubSpot, Dropbox, PayPal, QuickBooks On-line, Slack, and Mailchimp.
Continuously Requested Questions
Can FreshBooks exchange QuickBooks?
Sure, however not in all features. QuickBooks is healthier when you’ve got stock or need to observe web revenue by lessons.
Can shoppers pay straight by FreshBooks?
Sure. You’ll be able to ship checkout hyperlinks to shoppers to receives a commission sooner. FreshBooks may combine with cost channels, like PayPal, and banks.
FreshBooks might lack some necessary options like managing your stock and monitoring revenue by class, that are current in barely costlier software program, like Xero and QuickBooks On-line. Nevertheless, its highly effective invoicing and venture administration options and glorious customer support make it a terrific alternative to your small enterprise.