Review of FreshBooks: Features and Pricing Of The Top 2016 Accounting Software

2

fblFreshBooks is small businesses’ favorite accounting & finance system, awarded multiple times for its simplicity and impeccable performance. Currently, more than 5 million businesses around the world benefit from FreshBooks unique time tracking and client invoicing capacity. What our team really liked about the system is how well it matches freelancers’ needs, in particular custom branding for financial documents, and end-to-end sales cycle tracking. Both companies and individuals get to use their logos and colors related to their business.

What FreshBooks does for your business is to streamline payment collection, and does so via many different payment gateways (PayPal, credit cards, Google Checkouts, and so on). At the same time, you get to accelerate invoice and online subscriptions management.

There is also an Android/iOS app that allows you to use this software comfortably on every device, and regardless of your location. If you run a decentralized team, FreshBooks will cover your needs completely.

We recommend you to check detailed FreshBooks review and comparisons to examine the features of this product,  and read some relevant analysis that will help you determine whether you’ve discovered the ideal accounting software or not.

fb

Benefits of FreshBooks

FreshBooks has one of the most flexible and intuitive invoicing and time-tracking systems, where employees can access all information relevant for the performance of their tasks, and work on those tasks together. Most importantly, they get to use their own devices to follow live developments, check assignments, or even execute such. FreshBooks won’t require them to surpass steep learning curves, and will soon become their best assistant.

You can track time equally good while you’re in the office and outside, and get online payments regardless of your location. Capturing expenses is also made a breeze. Note that all of the features are fully customizable, and the system allows you to set notifications and alert for delayed payments, manage expenses on each separate project rate, attach different formats of files, track bills, and much more.

The invoice-to-payment capacity is just fascinating, together with the fact that it is designed to be extremely user-friendly. The distinctive advantage here is streamlined delivery – you get to track when a customer is opening your invoice emails. All bills are stored in a database where you can export unpaid invoices and send overdue payment reminders. The immediate effect is that you won’t have to ‘chase’ clients around, and argue over missed payments. Billing is made flexible to the pleasure of both businesses and payees, as with FreshBooks they can agree on a fixed on hourly payment rate. Advanced tracking helps calculate payments for separate part of the project as well.

As we already mentioned, payment is made as flexible as possible, and supports Visa, MasterCard, Amex, and PayPal payments. At the same time, you get to automate recurring billing, bill customers in your local currency, or invoice in multiple currencies. Another cool feature is that you can use snaps to track expenses, by simply attaching a photo of the receipt to the FreshBooks records and log those expenses.

Finally, FreshBooks is an amazing reporting system which handles taxation issues on your behalf. The data you’ve entered in the system will be processed automatically, and you will be able to generate profit/loss reports in a matter of minutes, and export them easily in the desired format.

Overview of FreshBooks Features

Time Tracking Features

  • Team Timesheets
  • Timers
  • Tracking Unbilled Time
  • Invoicing
  • Project Management
  • Separate Rates for Different Projects/Tasks

Expense Tracking Features

  • Attaching Receipt Photos
  • Importing Files
  • Automated Expense Data Import
  • Filters for Expense Reporting

Invoicing in Cloud

  • Tracking Invoices
  • Estimates
  • Online Payments via Multiple Gateways
  • Recurring Invoices
  • Customizing Invoices
  • Automated Payment
  • Multi-Currency
  • Multi-Language
  • Delayed Payment Fees
  • Client Portals
  • Client Credit
  • Automated Taxation
  • Delayed Payment Reminders

Recurring Invoices, Accounting, Reporting, and Taxation Features

  • Expense Reports
  • Profit/Loss Reports
  • Aged Accounts
  • Balance Sheets
  • CSV/Excel Formatting
  • Item Sales
  • Sales Taxes

Pricing of FreshBooks

You can examine FreshBooks’ features using their 30-days free trial, and then switch to some of their moderately priced payment plans. You can find more information about FreshBooks price here as well.

Sprout – $12.95/month or $11.66/month if paying annually

  • Unlimited invoices, expenses, and time tracking
  • Billing 5 clients

Seedling – $24.95/month or $22.46/month if paying annually

  • Unlimited invoices, expenses, and time tracking
  • Billing 25 clients

Evergreen – $39.95/month or $35.96/month if paying annually

  • Unlimited invoices, expenses, and time tracking
  • Billing 250 clients
  • Including 1 extra staff member
  • Team timesheets
  • Tracking expenses and revenue on staff member basis

Mighty Oak – $79.95/month or $71.96/month if paying annually

  • Unlimited invoices, expenses, and time tracking
  • Billing unlimited clients
  • Including 5 extra staff members
  • Team timesheets
  • Tracking expenses and revenue on staff member basis
Share.

About Author

Kate Stephens is a young and creative graphic designer as well as the mastermind behind AlternativesFinder.com her own startup company aimed at providing customers with reliable and often cheaper alternatives to various popular brands and products from all possible markets.

2 Comments

  1. The simplicity and availability of various payment options is the best this app can get. Our team is really into the ‘snail mail’ button that tracks our invoices, and has only good words to share about reporting and tax compliance. I see the rationale of the product was to cover all national standards, and I’m more and more impressed by the minimal effort I have to invest to avoid risks and noncompliance. Colleagues agree too.

    Just not to make it all rainbows and butterflies, the system lacks packing slips and price-free invoicing. While this may not be an issue for other users, it matters to online retailers such as ourselves. While speaking of online retail, you may also reconsider the compliance of roles and permissions with your structure, because you’re only going to receive an admin-staff bone, and that won’t really help you. Within a small sales team, however, Freshbooks will do a great job, I’m telling you that from personal experience.

  2. We are a small accounting team that got to love Freshbooks in recent years, as we never believed we could save this much time invoicing our clients. Honestly, I don’t really know where to start boasting the system, but I guess it will be the ability to for a recurring business such as ours to summarize all invoices in one database, and link clients to their personal invoice portfolio whenever they request it.

    It handles many complex billing requirements, so just forget paying for an industry-specific accounting system, particularly if you’re located in Canada or the US. As a matter of fact, you can register for a 30 days free trial and test the features for yourself, this product is simply flawless!

    As a satisfied user, I honestly recommend it to advanced-accounting seekers who nevertheless wish to skip steep learning curves.