FreshBooks is a cloud-based invoicing and accounting software that helps you organize expenses, track time and projects, automate payment collection, and more. Its features include double-entry accounting, project management, and a mobile app that can be downloaded on the App Store and Google Play. Its prices start at $15 per month, and it’s best for entrepreneurs who want to expedite their billing and payment collection and freelancers who need to track time on the go.
FreshBooks Pros and Cons
Extremely easy to set up and use
Can’t set up payment buttons
Seamless invoicing and payment collection
Financial reports are not that comprehensive
Responsive customer support
Who FreshBooks Is Best For
- Entrepreneurs who want to expedite their billing and payment collection process: FreshBooks enables your clients to pay you directly through invoices and then lets you automatically generate payment records in your account. You may accept credit card payments online, over the phone, or even in person.
- Freelancers that need to track time on the go: Track time from any website and wherever you are by using its mobile app or the FreshBooks Chrome Timer.
FreshBooks offers four plans with monthly fees that start at $15 per month. The main differences between the plans are the target users, the maximum numbers of billable clients, and the availability of advanced features like automated recurring invoices, double-entry accounting reports, and a personal account manager.
Pricing & Features
Maximum Billable Clients
Unlimited Customized Invoices
Automated Recurring Invoices
Double-entry Accounting Reports
Personal Account Manager
Last updated on 5/15/2020
You will be glad to know that, as of this writing (May 13, 2020), FreshBooks offers a 10% discount on its yearly plans. It is also currently offering 60% off on its Lite, Plus, and Premium plans for six months to support the business community during this worldwide pandemic period.
You may add a team member in Lite, Plus, and Premium plans for $10 per person and accept advanced payments in Plus and Premium for $20 per month.
Ideal for self-employed professionals, Lite supports up to five billable clients and comes with unlimited customized invoices and expense entries. Other features include unlimited time tracking and estimates, insightful tax time reports, automated bak import, and custom functionality and workflows with more than 200 integrations. Users subscribed to this plan may accept credit card payments and automated clearing house (ACH) bank transfers online.
FreshBooks’ Plus plan is designed for small businesses with up to 50 billable clients. It includes all of Lite’s features, in addition to unlimited proposals, automated recurring invoices, double-entry accounting reports, scheduled late fees, late payment reminders, and client retainers.
Those who need an accounting solution for up to 500 billable clients may choose Premium. It contains all the features present in the Plus plan.
This customized plan is best for users with more than 500 billable clients. Its standard features include customized training, super low credit card transaction rates, easy QuickBooks and Xero integrations, and a dedicated account manager. Those interested may contact FreshBooks to request more details or a demo.
FreshBooks Alternatives 2020
Best Invoice Software
Expense management and easy reimbursement tracking
Invoice tracking and payment collection for multiple businesses
Integration with QuickBooks Online or QuickBooks Desktop
Built-in CRM needs to keep track of all customers and leads
Current Zoho apps users
Sales tracking for ecommerce businesses
FreshBooks has a wide range of features designed to help you automate your invoicing and accounting tasks, allowing you to focus on other important aspects of your business. You will be glad to know that it offers a 30-day free trial to help you get a better look and feel of the software.
Its dashboard gives you a snapshot of your outstanding invoices and profit. It also gives you quick access to Reports so you can take a deeper look at your numbers. Below is how a default FreshBooks dashboard looks like.
Let’s take a look at some of its most essential features to help you decide if FreshBooks is for you.
FreshBooks’s built-in invoice generator helps you create personalized invoices in seconds. You may request your clients a deposit on your invoice, add tracked time and expenses, accept credit cards and ACH payments, and more.
FreshBooks’ double-entry accounting tools, such as journal entries, a balance sheet, a general ledger, and a cost of goods sold, let you effectively reconcile your expenses and revenue items, minimizing the chance of errors.
With FreshBooks, you can categorize easily and mark your expenses as billables and add a markup to them. You may use its mobile app to snap a photo of receipts and store them in the cloud.
Estimates and Proposals
FreshBooks allows you to create customizable proposals that outline your project’s scope, deliverables, and timeline. You may preview estimates before sending, view, and respond to client feedback, send estimates in your desired currency, and more.
Which Invoicing Software Provider Is Right for You?
Most Helpful FreshBooks Reviews
Users who gave positive FreshBooks reviews like that its user interface is neat and extremely user-friendly. Some appreciate its excellent time tracking and payment collection functionalities while others are delighted with its responsive customer support. Meanwhile, those who left negative reviews complained that they can’t set up payment options and that its financial reports are not that comprehensive.
Clean and optimized interface; seamless payment collection
“FreshBooks has an ingenious, very clean, and clear design as well as an optimized interface and many features designed to make accounting tasks as easy as possible for businesses and customers anywhere in the world. For me, it has been very useful not only to accelerate the procedures related to the management of collections but also to have under control everything that has to do with accounting since.”
Can’t add payment buttons to websites
“There is one feature that I’d like to see FreshBooks offer and that is the ability to set up payment buttons online so that you could use it to accept payments on your website.”
FreshBooks Frequently Asked Questions (FAQs)
What types of reports are available on FreshBooks?
FreshBooks offers standard business and financial reports, such as profit and loss and sales tax summary. It also provides a report of invoice details, aging accounts, payments collected, accounting entries, and expenses.
Does FreshBooks accept credit cards?
Yes, it does. FreshBooks can process credit card payments through integration with either one of its payment gateway options. It currently offers FreshBooks Payments powered by Stripe for international transactions and FreshBooks Payments powered by WePay for clients in the United States and Canada.
What languages does FreshBooks support?
The languages it supports include English, Dutch, Danish, German, French, Italian, Greek, Portuguese, Spanish, Romanian, and Spanish.
What software does it integrate with?
FreshBooks integrates with the following software: DropBox, HubSpot, Zoom, Gusto, G Suite, Fundbox, Stripe, Bench, and more.
FreshBooks promises to offer a pleasant experience to business owners who are looking for an easy way to track time, send invoices, bill expenses, set up recurring auto billing, and accept credit card payments. One particular feature that makes it impressive is its free mobile app, which lets you take care of your accounting from anywhere.
On the downside, although it costs a little less per month than most other accounting software, it lacks some of the features that its competitors have like advanced inventory tracking and tax preparation and filing assistance.
In case you are still aren’t sure if FreshBooks is right for you, then this article on the best invoicing software is a review of our top choices. In this guide, we looked at a variety of solutions and narrowed down our recommendations based on the ability to create recurring invoices, send automatic payment reminders, and run an accounts receivable (A/R) aging report to stay on top of open invoices.