FreshBooks is one of the most popular cloud-based accounting platforms in the current market. It’s lightweight and easy-to-navigate interface can be a good fit for the self-employed and individuals doing freelance jobs. Growing businesses and larger companies can also make use of this platform since FreshBooks has advanced tools designed for enterprises with several business needs related to managing and processing accounts receivables, bills, invoices and expenses.
Paperwork is a challenge to deal with, especially if you’re working alone or within a small team. Larger companies and departments often have their own accounting team to deal with paperwork. For freelancers and the self-employed, they don’t have the same luxury. However, FreshBooks simplifies this entire process by providing users with a system that automates their daily operations and offers useful insights.
FreshBooks is also compatible with both iOS and Android operating systems, which allows several people to use it on different mobiles and devices. This enables you to use it any time and any place, allowing you to be productive wherever you go.
FreshBooks Features
FreshBooks’ core features including:
Invoicing
With FreshBooks, you can create professional-looking invoices within seconds. This gives you credibility from the perspective of your clients. As long as you have your logo, you can customize and personalize your invoices. Additional benefits include the ability to accept credit card transactions and get paid faster by your clients. You can also add invoice due dates, offer discounts, automatically calculate taxes and customize invoice payment terms.
Expenses
You can easily track your expenses with FreshBooks. This is done by connecting your bank account to the solution and getting updates about your recent spending. Additionally, you can snap pictures of your receipts and upload them to FreshBooks. This ensures every penny spent is taken into consideration.
Time tracking
You can easily gauge at a glance how long it will take you to finish your tasks. Just let the system keep track of how long you’ve been working and then you’ll have an accurate estimate of the hours you’ve worked. This ensures a timely and accurate representation of how productive you’ve been.
Accounting
When accounting is done manually, you can expect a few inaccuracies and errors in your data. Prevent this from happening by using FreshBooks’ easy-to-use double-entry accounting tools. It comes with several core functions including balance sheets, trial balances, general ledgers, journal entries and accountant access. With this feature, you can make decisions based on real-time business information and data-driven insights.
Projects
Other than accounting management features, FreshBooks also has project management and team collaboration tools. You can connect with your team members and work efficiently for your projects. Additional features include the ability to chat with your members, assign project due dates and share important documents and files within FreshBooks.
FreshBooks Benefits
FreshBooks’ top three benefits are discussed below:
A simple and unified interface
For the self-employed and freelancers, FreshBooks offers the most basic features they require in an accounting solution. With customization tools and an easy-to-navigate interface, teams won’t have difficulty in communicating with their members, sharing documents and tracking their expenses. Everything can be found in a single and unified interface.
Responsive mobile design
FreshBooks has a responsive mobile design that keeps you connected regardless of where you are. It’s available on both iOS and Android devices. Even if you’re not in the office or at your computer, you can still create and send invoices, chat with your clients and sync data across a variety of platforms.
Easier payment processing
Another top benefit from FreshBooks is related to its payment processing tools. Its reliable and efficient invoice-to-payment functionality makes it easier for businesses to keep track of the invoices they’ve sent and the payments they’ve received. You don’t have to chase after people who haven’t paid yet as you can be notified of any overdue payments. This keeps you updated with any balances your business still has left.
FreshBooks Pricing
Four pricing packages are made available for FreshBooks users. The price varies because of the difference in its features and the level of functionality it provides for individuals. Additionally, these plans are designed for several types of industries. This is further discussed below in the packages. But before you opt for a plan, you can test out each pricing solution and its corresponding 30-day free trial period.
Lite
Lite is priced at $15 per month. It’s meant for five billable clients and is most suitable for self-employed professionals who are constantly on the go. This plan comes with the solution’s most basic features such as unlimited invoices, unlimited expense entries and unlimited time tracking functions. This eases the process involved in managing your financials by making it easier to automatically input data.
With this plan, you can accept online credit card transactions and ACH bank transfers. You can also have insightful tax time reports and the ability to integrate with 200-plus applications. If you want to add more team members into the system, you must pay $10 per person.
Plus
The second pricing package is Plus whose price is set at $25 per month. You can have 50 billable clients. It has all the features provided by Lite with key upgrades and additional tools. These tools include unlimited proposals, automated recurring invoices, double-entry accounting reports, client retainers, scheduled late fees and automated late payment reminders.
With the addition of these features, it’s clear that Plus is catered for small businesses that are looking to achieve big goals. Like Lite, for every team member you add, you pay $10. Advanced payments also cost $20 per month. Plus is the most popular pricing plan people go for.
Premium
Premium is designed for growing businesses with dynamic teams. If you’re not satisfied with what the previous plans have offered, you can test out Premium. It has a wider range for its users, allowing for 500 billable clients. For a price of $50 per month, you can enjoy all the features offered in Lite and Plus but with more people involved.
Select
This plan does not have a set price. You must contact the sales team for a quotation. However, it’s perfectly suitable for thriving businesses that require a custom service. This plan comes with a personal account manager, customized training for its users, low credit card transaction rates and easy integrations with QuickBooks and Xero integration.
Conclusion
If you’re looking for a cloud-based solution that can cater to your financial requirements, then FreshBooks is the best place to start. It’s feature-rich and scalable with several known benefits many users can enjoy. With a fast and reliable accounting suite, the interface makes it easy for users to create professional-looking invoices and automate tasks such as follow-ups and expense tracking.
FreshBooks is more than just a place for you to keep track of your financials. It offers more than just tracking and managing options. You can send invoices to your clients, track the time your employees have worked, log your daily expenses and chat with customers online. Because it’s so popular, you can integrate other work platforms with it. This includes Asana, Trello and Basecamp.
Moreover, the company is working on improving FreshBooks. It will offer more collaboration features and efficient delivery functions. Additionally, the upgrades will include an improved search filter, multi-currency expenses and invoice conversations.
