Invoicing, payment tracking, online payment acceptance, expenses, receipts, time tracking, projects, profit and loss reports and more all in in one easy to use application.
Freshbooks is the all in one accounting system for small businesses and solopreneurs. If QuickBooks is more than you need or too complicated FreshBooks could be the answer. Every year at tax time email the reports generated by FreshBooks to your CPA and you are done!
From the FreshBooks Dashboard you can at a glance view how much you are owed, your year to date profit, how much you are spending and what you are spending on. It’s an easy navigation from the dashboard to several in depth built in reports.
From the invoice page you can create new invoices, see if your sent invoices have been viewed or paid, and when they were viewed or paid. Invoices can be custom designed by you with your logo or you can select a generic invoice. FreshBooks will automatically send out reminders on unpaid invoices in whatever interval you preset.
Several online payment options are available. Freshbooks charges a small percentage for handling this transaction and deposits payments directly into the bank account you specified for this purpose. The percentage Freshbooks charges is less than accepting PayPal payments
Accepting credit card payments makes invoice payment easier for your clients. When a payment is received online Freshbooks automatically marks the invoice as paid and records the payment date.
Invoices sent via email contain a link that opens a portal that only that client can enter. From this portal the client can view and download the invoice, pay online, challenge a charge, and view previous invoices. Invoices can be downloaded and sent as email attachments if your client prefers, however doing so eliminates online payment as an option.
From the Expense page you can view each individual expense and upload associated copies of receipts. Information extrapolated from this page is used to determine year to date profit and loss. FreshBooks automatically adds the monthly charge for their service to this page for you.
The Chrome Web Store offers a FreshBooks Chrome plug in for time tracking. This is useful if you bill hourly or if you just want to track time spent on specific functions. The timer will associate the time with the company you select. Time Tracking can also be accessed from the FreshBooks dashboard.
The FreshBooks mobile app is available for iOS and Android devices. From the app you can send invoices and perform all FreshBooks functions including time tracking, estimates and projects.
FreshBooks can also be accessed directly from the G Suite for business desktop site.
FreshBooks has an active online community where you can find the answer to most of your questions but if you do not find the answer there you can call support.
Payment plans range from $15.00 per month to $50.00 per month. Many solopreneus and small businesses will fit into the Plus plan at $25.00 per month.
When choosing software or services I recommend analyzing 3 things in this order:
- Features and functions
It doesn’t matter how inexpensive the software or service is if it is confusing and time consuming to use or if it doesn’t provide the functionality needed. It doesn’t matter if it is simplistic and provides the functionality needed if it has a budget buster price tag.