FreshBooks accounting software is a reliable and fast accounting suite that turns otherwise complex financial management of an organization into an enjoyable experience. Businesses get to manage invoices and recurring subscriptions in a lot less time and collect online payments within the same system.
Setting up your account is a quick process, requiring minimal steps. Your account page is clean, organized and clearly labeled.
The main dashboard provides an overview of your company’s information, such as paid and unpaid invoices for the past six months and a report showing what amounts are 30, 60, or 90 days old or more.
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FreshBooks Accounting Software Review – Features, Specifications, Pricing
It is an award-winning finance & accounting software and one of the best cloud solutions for small business owners. It is the current holder of FinancesOnline’s Best Accounting Software Award for 2017 as well as the Supreme Software Award for 2016 and has the highest customer satisfaction rates of all similar apps in this category.
When clicked on the big green New Client button, the next screen displays a graphical representation of a paper card. You just enter each client’s name, mailing and email addresses, and phone numbers. FreshBooks does something in addition that We’ve never seen a site do.
It goes out and looks for a picture or logo online that matches your client’s contact information. It worked for us during testing. Click on contact once saved, and you’ll see a history of transactions and other a whole lot of other interactions.
After connected bank accounts, you see a list of recent transactions, when one clicks the Expenses tab (you can also manually add new ones). FreshBooks tries to automatically categorize these (Professional Services, Supplies, Meals & Entertainment, Personal, and so on) when it brings them in, but it doesn’t always hit the mark.
In the Edit option and you can modify anything, selecting from a drop-down list of categories and clicking the Apply to Future Imported Expenses link.
You can also attach a file, such as a photo of a receipt that you took using FreshBooks’ smartphone app. Wave offers this ability, too. Expense Settings off to the right include the option to mark the expense as billable to a client.
If your small business works with projects, you can define them in FreshBooks. Give your project a name, assign it to a client or to internal staff, and enter an hourly budget and end date, if you’d like. Then you have the option to set a blanket billing rate for the project, either hourly or in total. If you’re working solo and you’re only charging one rate for your work on a project, that’s fine.
You can also invite employees and contractors to enter their own hours and share ideas within the project. Clients, too, can join in. FreshBooks handles team collaboration very well.
The main invoicing screen conveys a lot of information without feeling overcrowded, Freshbook’s hidden depth features come up at this point. The user neat and organized UI coupled with the vast array of options to choose from gives all the power a proprietor dreams about.
FreshBooks displays links to context-sensitive settings over to the right of the screen during Invoice creation. Unlike other sites have one giant section of the site where you define all of its settings. You can also make the invoice recur at specified intervals, either automatically or manually.
One can also have reminders sent at designated intervals and charge late fees, again a first. Once you’ve saved an invoice, you can open it again and edit it or click the More Actions button for tasks like emailing it or applying for payment or even check it’s history.
FreshBooks compared to other accounting apps provide the availability of fully-functional mobile apps and add-ons you can get for Android and iOS devices giving you the power and convenience of the software remotely and access records or make changes on-the-go.
Impressive FreshBooks Features
- Customizing your invoice
- Tracking Invoice Views
- Putting Business on Auto-Pilot
- Getting paid with deposits
- Getting paid with credit cards
- Customizing due dates
- Quick discounts
- Online Payments
- Late Payment Fees
- Recurring Invoices & Auto Payment
- Multi-Currency & Multi-Language
- Client Portal
- Late Payment Reminders
- Sales Taxes
- Client Credit
- Track Offline Payments
- Send Emails or Snail Mail
- Automated Tax Circulations
- Invoice Previews
- Customer Invoice Seen Feature
- Team time-sheets
- Clear breakdown of the day
- Tracking against clients and projects
- Detailed Time entry notes
- Automated bills, hours per project
- Project Managers
- Track Un-billed Time
- Different Rates for each Project
- Generate Invoices
- Automatic expense import
- Tracking spending per project
- Remember vendors
- Tax-friendly categories
- Easy-to-read categorization
- Attach receipts (PDF or Image)
- Expense Report Filters
- Recurring Expenses
- Assign & Re-bill Expenses
- Sharing images and files
- Collaborating with clients
- Project due dates
- Centralised conversations
- Current Project overviews
- MasterCard, Visa, and American Express
- Quick bank deposits
- Automatically recorded payments
- Fees recorded as expenses
- Safe & secure
- Simple payment experience
Accounting Reports & Taxes
- Accounts Ageing
- Profit & Loss
- Balance Sheet
- Expense Reports
- Item Sales
- Sales Tax
- Invoice Details Reports
- Accounts Ageing Reports
- Filters for report customisation
- Summary of outstanding revenue
Pricing And Plans
FreshBooks has a free 30-day trial which is a great way to see if their “cloud accounting” will work for you.
You can use the “Lite“ $15.00 per month for up to 5 clients, and from there you have the “Plus“ plan at $25.00 per month and then the “Premium“ plan at $50.00 per month catering to up to 50 clients and 500 clients respectively. For more than 500 clients you have to opt for the Freshbooks Select Package. There is an option for Yearly plans as well which will save 10%. All of the accounts through FreshBooks are set up for one user and you can only. To have more than one additional user in that plan, you will have to pay $10 extra for each.
How can I set up the FreshBooks integration?
1. Login to your FreshBooks account and go to My Account (on the top right corner).
2. Click on FreshBooks API and then enable your FreshBooks API
3 Copy this API URL and Authentication Token
4. Now Login to your DeskAway Account Go to Settings-> FreshBooks and click on Enable FreshBooks Integration. Paste the API URL and Authentication Token here. Your integration should be set and you should see a success message.
5. Edit any project and choose the FreshBooks Project to map to.
6. Go to the Timesheet page of that project and start logging time to FreshBooks.
- If I removed a time entry in DeskAway will it remove the same entry in FreshBooks?
No. Time entry removed from your DeskAway project will not be removed from your FreshBooks project. You will have to remove it manually from your FreshBooks account.
- How to Import FreshBooks to Zoho CRM?
FreshBooks and Zoho CRM are online “Customer Relationship Management” tools that offer a variety of helpful ways to store customer information and track projects. If you choose to use one service over the other, both offer an easy way to export data to a comma-delimited file, or “CSV,” which can be imported into any other system with data import support. Since FreshBooks and Zoho differ in their interface and options, not all data in Zoho will be populated after transferring data from FreshBooks. But if you have a large number of clienteles or timesheet tasks, importing saves you a ton of time.
How do I import data into my account?
When setting up a FreshBooks account, you can start afresh, or bring in existing data from any previous software like QuickBooks. If you’re not a fan of manual entry, FreshBooks has your back with their tool that can import data into your account for you, saving you time. Just put together a CSV file for each type of data with the required columns below, and send it to their Support Team at email@example.com.
How do I export my Reports?
The Reports in FreshBooks put all the data together to present you with a picture of your business’ finances, both generic and specific. Reports are useful for tax reporting as well as helping make business-related decisions based on your numbers and data. Export for Excel
- Click on More Actions
- Click on Export to Excel
- A CSV file will download to your computer.
- What are Projects?
Projects are a way to collaborate with Clients, Employees, and Contractors inside your FreshBooks account. It’s also helpful for communicating with your Clients beyond Invoices. You’re also able to review all time tracked on a Project, including your Contractors’ and Employees’ time to create a Project, follow these steps:
1 Go to the Projects section on the left side
2 Click on the Create New… button
3 Select Flat Rate Project or Hourly Project.
- How do Client accounts work?
As a Client, you can always view and print Estimates and Invoices (without signing up).
You can save both Estimates and Invoices in one place, comment on them, or you’ve been invited to collaborate on a Project by a FreshBooks user, you can easily save them all in one place in a Client account (which is optional). Then you can log in to keep track of all your historical Estimates, Invoices and Projects anytime.
Having a Client account allows you to do the following:
• Save, view, and comment on Estimates
• Save, view and comment on Invoices
• Comment and share files on Projects
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In conclusion, Freshbooks accounting software with its robust invoice and payment processing features gets a good rating from small business users.