FreshBooks helps in analyzing the financial data of the company, creating invoicing and tracks everyday expenses. Moreover, it proves to be effective in handling front-end accounting.
Co-Founder– Mike McDerment
Company Founded– 2003
Company Based– Toronto, Canada, Ontario
If you are a freelancer, service provider, or into small-mid sized business and looking for cloud accounting software, then FreshBooks is the perfect choice for them. And, in case you are new to the accounting software. To make the excellent use of the software, you must know what is FreshBooks, how does it work, its usage, and so on. The process of invoicing and accounting becomes fast, secure, and easy with FreshBooks accounting software. You don’t have to be professional in the field of accounting if you are using the software for your business purposes. The software is designed to assist you in streamlining the accounting process.
To understand more in detail about FreshBooks, let’s take a look at the usage of the software and check how beneficial the software is for your growing business.
Let’s explore the different usage of the accounting software and find out how you can make fast and secure accounting:
FreshBooks Mobile and Integration Options
FreshBooks provides a mobile app so that you can manage your accounting task. Also, offers integration options with myriads of third-party tools. The mobile app is available for Android and iOS and you can access features of your web account like creating and sending invoices, managing expenses, capturing receipts, receive notifications, chat with clients, receive notifications, and sync data across devices.
In order to optimize your communication and maintain a long-lasting relationship with clients the software proffers flexible client-specific features. It consists of the features like contact information storage, relationship feed of communication and invoices for every client, internal notes to add to client contacts, internal notes for adding to clients contacts, easy access of the client at the time of invoicing, and the option of editable client profiles to update and change information.
You will get the project-specific features to assist you in productivity and streamlining your business processes.
With the FreshBooks project tools, you’ll be able to perform the following things:
- You have the option to invite contractors, employees, and clients to work together on different projects in FreshBooks.
- For your projects, you can set due dates.
- The project conversations within the software can be maintained with the team discussion.
- Documents can be uploaded to FreshBooks to share files and accessibility.
- Project overviews help in reviewing your ongoing initiatives.
FreshBooks Estimates and Proposals
The feature is helpful in generating estimates and sending proposals to your valuable clients.
You will be able to avail these functionalities:
- You can create proposals that outline a project’s timeline, scope, and deliverables.
- There is a facility to view and respond to client feedback on proposals.
- With the help of the e-signature, you can allow your clients to approve and sign proposals online.
- After getting client approval you can convert estimates to ready-to-pay invoices.
- FreshBooks mobile app helps you in creating and emailing an estimate.
The specific feature gives you permission to attach your business bank account and also automatically import activity into the software. This manner, you can manage your bookkeeping and accounting tasks in FreshBooks like generate profit and loss statement, view sales tax summary, an overview of invoice details, review of the balance sheet, and so on.
After getting familiar with the usage of the software, let’s move to the next step and explore its versions.
There are three versions of FreshBooks and they differ from each other on the basis of cost and the features offered with them.
FreshBooks Lite is the most affordable plan from FreshBooks. It is compatible with micro as well as very small businesses. It is a good option for freelancers and contractors. In case, you pay for the Lite plan on a monthly basis, the pricing will be $15 per month. In contrast, if you choose an annual plan, you can save 10 percent and the monthly cost will be $13.50. Apart from this, with the assistance of FreshBooks Lite, you can attach five active clients to your account and you can use the exceptional features like creating unlimited invoices, ability to accept online credit card payments, create reports, indefinite time tracking, and custom functionality with workflows with over 200 integration options.
The Plus version of FreshBooks is the popular version of FreshBooks accounting software. FreshBooks Plus is a perfect solution for small businesses. In addition, the Plus plan costs $25 per month if you are subscribing on a monthly basis. And in case you subscribe for an annual plan, you will be paying 10% less, at $22.50 per month. With the help of this version, you can attach up to 50 active clients to your account at a particular time. Moreover, the features of versions are automated recurring invoices, automated late payments reminders, and creating unlimited proposals.
FreshBooks Premier is the most expensive among three plans and you will get the greatest flexibility with the accounting software. The pricing for the premium plan is $50 per month. If you are choosing to pay for one year of the premier plan, then you will get a 10 percent discount and you have to pay $45 per month. It can hold up to 500 clients. Thus, the version includes all of the capabilities of Lite and Plus versions.
Now, it will be beneficial to know its benefits before using the software to handle the financial accounting needs.
Benefits of Using FreshBooks
No doubt, FreshBooks helps you in simplifying the process of finances for its users. Let’s find out the interesting benefits of using the software:
It makes sure that the accounting is error-free and also consumes less time in preparing the reports. Also, in just a few clicks the reports in FreshBooks are created. The procedure of creating a report is automated, and final reports can be exported in a different format.
Optimize your Expense Tracking
The accounting software keeps track of your expenses on a daily basis. Along with this, you can track the client expenses and also add them to an invoice as a reimbursement deal. It also makes possible to link the expense tool to your credit card account or bank.
The benefit of using FreshBooks software is that it allows you to attach files, set alerts for the payments, allot expenses and various rates, track billing for every project.
Responsive Mobile Design
You can manage your business accounting and other works related to invoicing with the availability of FreshBooks mobile apps. The software is available on android and Ios devices. And it allows you to create and send invoices, manage expenses, communicate with clients, sync data across all devices. The particular feature helps in securing the backups of your data.
In addition, you can run FreshBooks on different web browsers including Firefox, Internet Explorer, Opera, Microsoft Edge, Google Chrome, Mobile Safari, Safari, and Mobile Chrome. After knowing its benefits, an introduction of its feature will give you a clearer picture of the accounting software.
Features of FreshBooks
No doubt, the accounting software is developed to streamline accounting operations for small business owners but it has tons of features that are designed to make life easier for its users.
Let’s have a look at the features of the FreshBooks:
The feature gives you the facility to add a new client to your invoice. The good part of this feature is that it gives you the option to customize the style of the invoice, add a logo and also make the invoice recurring in case the same work is performed every month for a client.
Managing expenses in FreshBooks is not at all a tough task for its users. Simply, you can use the mobile app to take the click of the receipt and then upload it to FreshBooks. And, then drag the uploaded receipt image to the expenses screen. Also, you can mark it as billable hours in case you want to add it to a client bill or it can be added cost of goods sold section.
Client Proposals and Estimates
The feature has an option to create a formal proposal or job estimates. Whereas, the estimate is a breakdown of the services you offer with the estimate of the cost. A proposal will display the services and value you have given to the client. Apart from this, in case of your estimates get approved by a client, you can immediately convert it into an invoice in friction of seconds.
Report screen will show you the top five reports at the top of the page so that you can access quickly. It has limited customization choices, but you have an option to export to Microsoft Excel for customizing them later on. Moreover, you can email a report or save it as a PDF format.
The feature is useful especially if you have employees in your company, but it can also be used for accountants and contractors. Initially to invite people, you have to add the person’s name, and email. After this, the person will receive a message to connect with FreshBooks via a link.
By using the accounting solution, you will be able to able to manage finances in one place and create professional-looking invoices effortlessly.
Here are FreshBooks alternatives are given that can be chosen according to your business needs:
Wave is cloud-based accounting software that offers creating invoicing, receipt scanning feature, payment processing, and payroll functionality. Along with this, offers extensive financial reporting to the client. On the other hand, if you want a completely free accounting software option with remarkable build- in functionality, then you can consider Wave.
The accounting software takes control of your personal finances and money management related tasks. It will provide you the features like tracking income and expenses, analyze income and expenses, online banking facility, print checks feature, and managing business accounts. It mainly focuses on personal finances rather than business as a whole.
QuickBooks is suitable for companies that sell products and are in search of a fully-fledged and scalable accounting software. It is well-suited for small and mid-sized business owners, particularly for those who are in search for the advanced accounting tools for reconciliation, reporting, taxes, and inventory management.
Review the other alternatives of the accounting software, before you set your mind for the particular software.
To Sum Up
Up till now, the blog has briefly explained to you what is FreshBooks. Furthermore, we have highlighted the advantages, features, usage, versions, alternatives, and most importantly the reviews of recognizable persons. Before purchasing the software you can take the help of the blog and evaluate it at the time of buying the software. In short, this is the software that will make your accounting process easy and assist you in focusing more time on what you love to do. If you are in search of an easy invoice creation, time-tracking capability, and good expense management feature, then go for FreshBooks.
In case you want to discover more about what is FreshBooks, dial our FreshBooks Support Number +1-888-660-0582.