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No matter what business you have, choosing the appropriate accounting software is key to corporate performance, optimization, and seamless integration. Most companies have already implemented cloud-based solutions, such as FreshBooks, ensuring that all of their business operations are well-organized with clear budgets and well-defined cash flows.
This system can accommodate all the accounting and bookkeeping processes, but also other business needs due to the abundant FreshBooks integrations. Check out the following sections to find more about it, as well as alternatives to FreshBooks!
Onto our FreshBooks review!
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What Is FreshBooks?
FreshBooks is a cloud-based accounting software suitable for self-employed individuals, but also businesses of all sizes. One main highlight is that the interface can be easily used by people who are less tech-savvy considering the straightforward sections and easy-to-use functions.
FreshBooks accounting software is a top choice among many business owners due to its modern tools, such as time-tracking, automation of many tasks, online payments, and smooth collaboration. These help to boost daily efficiency and accuracy while saving time. Although it is a cloud-based service, FreshBooks stands out due to its solid security measures, numerous protection policies, including synchronization, and protection of bank and credit card institutions.
FreshBooks comes with four different pricing plans that offer access to more advanced features. However, all plans have a common set of basic features that all business owners can benefit from. Each plan is designed to offer fewer limitations and more premium features and is based on the billable clients you currently have.
The plans come with a well-established set of standard features. For instance, it offers wide access to invoicing software so you can create, customize, and send invoices to your customers; FreshBooks invoice templates are also available. It further connects to the business’s bank account and offers automated imports.
Moreover, there is broad access to entry and tracking with multi-currency abilities and tax categories. FreshBooks accounting software users are also able to create and send personalized estimates that can be converted into invoices, time-tracking features based on a project or client, and even billing clients based on tracked hours.
Some other highlights of FreshBooks include:
- Project management functions related to due dates, budgets, file sharing, and others
- Credit card payments and automatic recording of expenses and payments
- Bank reconciliation
- Chart of accounts, general ledger, profit and loss statement, balance sheet
- Adding client information, notes, and access to a relationship feed
- Business accountant can access the account
- Easy-to-use FreshBooks app for both Android and iOS devices
How Much Does FreshBooks Cost?
FreshBooks free means that it currently comes with a 30-day free trial that can be canceled any time and does not require a credit card. This offers access to the basic functions detailed in the previous section. After the trial ends, there are three main payment plans with one fully-customizable option.
The Lite plan allows for 5 billable clients and is only $4.50 per month when the yearly subscription is purchased. There are unlimited and customizable invoices, unlimited entries, accepts online credit card payments, and more.
The Plus plan is suitable for up to 50 billable customers and is $7.50 per month with the yearly subscription plan. This embeds numerous premium features, including automated recurring invoices, scheduled late feels, double-entry accounting reports, client retainers, and more, apart from all the previous features of the Lite plan.
The Premium plan is priced at $15 per month with an annual subscription and includes all the other features from previous plans, but allows for up to 500 billable clients. The last plan has custom pricing and is based on specific business needs.
FreshBooks Support values their clients, so they offer excellent customer service. Their representatives are friendly, kind, and very knowledgeable. Some of their main support options include the detailed help center, in-software support, and many webinars.
FreshBooks Pros and Cons
- Features: Abundant features to support business accounting
- Extras: Time management features, combined with project management
- Mobile: The mobile-friendly app can be used on-the-go
- Functionality: Easy to use interface can be accessed by less tech-savvy individuals
- Templates: Smooth FreshBooks invoice templates
- Bank Transfer: FreshBooks does not provide ACH bank transfers
- Payroll: FreshBooks payroll function is not available but supports other solutions, such as Gusto integration
FreshBooks vs QuickBooks vs Xero
When it comes to comparing FreshBooks vs QuickBooks vs Xero, there are numerous considerations to keep in mind. It is important to understand that each business is unique, so there is no universal solution, but FreshBooks alternatives cater to some different needs.
In terms of pricing, QuickBooks offers plans according to the number of users and starts from $10 per month for self-employed and $20 per month for businesses. This is higher priced than FreshBooks, but it does not restrict the number of clients. Xero, similarly, considers the number of people on payroll, and it starts from $9 per month with no one on the payroll, 5 invoices, 5 bills, and 20 transactions per month.
Ease Of Use Comparison
When it comes to ease of use, FreshBooks retains its superiority as one of the most beginner-friendly platforms. On the other hand, Xero and QuickBooks offer more functionality, but the platforms are also more difficult to use.
Payments & Invoicing Comparison
For payments and invoicing, FreshBooks cloud accounting is as streamlined as a cloud-based software can be. There are not so many features as Xero and QuickBooks provide, but this also means that all transactions are quicker and smoother.
Bills & Expenses Comparison
For bills and expenses, FreshBooks follows the same simple model where you can set up all the transactions in no time. For reporting and dashboards, however, FreshBooks is not the most detailed platform. Like all of its other options, this is also kept as simple as possible, helping you to analyze the overall financial health of the company. This makes it unsuitable for large companies where detailed reports are required.
FreshBooks Reviews & Complaints
FreshBooks has a rating of 2.5 out of 5 on TrustPilot which is considered poor, and they are not accredited with the Better Business Bureau (BBB).
Negative reviews are mostly about the lack of new features as well as bugs with the existing features. The positive reviews focus on the price and the simplicity of the software.
Summary: FreshBooks Review
All in all, FreshBooks might be the best solution for self-employed individuals or small businesses. The software offers highly affordable payment plans with access to some of the easiest functions you can find in accounting cloud-based software.
However, this can be a hurdle if your business is large. Although they offer a customizable plan, a large business requires more detailed and complex functions. FreshBooks accounting software is, as a result, one of the most beginner-friendly accounting platforms that will help you organize your business with a few clicks. The FreshBooks app can also provide extra mobility, offering access on the go.
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Enjoy our FreshBooks review?
You may also be interested in Xero Accounting Software Review.