FreshBooks Review; online accounting service

FreshBooks¹ has reasonably priced cloud-based accounting software with an app for small businesses and a number of useful features. Here’s my Freshbooks review.

Verdict: Freshbooks is great for small business owners. A FREE 30 day trial is a no brainer – decide from there.

Introduction

FreshBooks is online accounting software which is operated by 2ndSite, a Canadian Company. Although it is not free, new users can get a 30 day free trial and there are subscription packages to suit even a small budget. FreshBooks has an app that allows users to easily sync data across devices.

FreshBooks is most suited to small businesses and is particularly good for people who are new to business as the software is easy to use, customer service is very good, and FreshBooks provides other useful information through webinars and articles.

What is FreshBooks?

FreshBooks is online popular accounting software for small businesses. By using FreshBooks, users can keep track of how long tasks take and make it easier to bill clients for their time. It is possible to have more than one user accessing the software. This software also allows the user to easily create and send invoices, track expenses and online payments, log receipts, collaborate on projects by keeping data in one place, and create reports.

How does FreshBooks work?

There is a support page that can help you with setting up your account. On the general dashboard, you will be able to view some charts that summarise profit and loss, invoices, spending and revenue streams. You will be able to use the FreshBooks accounting software as well as access it through the mobile app. For more details, read how FreshBooks works.²

Snap receipt photos, email receipts to your account, and import expenses from your bank account. Then organize and assign them to clients. Tracking every dollar keeps you ready for tax time.”

freshbooks.com¹

What does FreshBooks integrate with?

FreshBooks integrates with a large number of platforms and apps, making it very convenient to use. Read FreshBooks integrations³ for a detailed list of integrations.

Is FreshBooks free to use?

FreshBooks is not free although you can get a 30 day free trial. New users can also get a large discount for the first 3 months when they first sign up.

How much does it cost?

FreshBooks has a number of different subscription plans. The cheapest one is FreshBooks Lite which allows for 5 billable clients. It usually costs $20 a month, but currently there is an offer of $6 a month for 3 months. FreshBooks Plus allows 50 billable clients and Premium and Select (a custom Package) allow unlimited billable clients. FreshBooks Plus is usually $35 a month and Premium is usually $50 a month. Like FreshBooks Lite, both of these plans also have a discount of 70% for 3 months at the moment (current December 2022).

As well as paying monthly for the subscription, users will have to make an additional monthly payment for each person who uses the software. For all packages, this will cost $14 a month per team member.

Who uses FreshBooks?

FreshBooks is useful for freelancers and self-employed people⁴ as well as small businesses, especially where clients are billed by the project or by the hour. It is probably not so good for retail and ecommerce as it lacks some important features. Some reviews have said that it is useful for a business owner who may just be starting out since it is easy to use and not very expensive.

Who owns FreshBooks?

FreshBooks is operated by 2ndsite Inc which is based in Toronto, Canada. It was founded by Michael McDerment and Joe Sawada 2004. In 2021, the CEO became Don Eppersen. Before then it was co-founder Michael McDerment who founded the company in 2004 with Joe Sawada.

Advantages of using FreshBooks

• You can customise the design of your invoices, set up automated invoicing and get updates when invoices have been paid or viewed.
• Precise time tracking; FreshBooks allows users to track their mileage and the time spent on tasks. These tracking features are even built into the mobile app allowing users to conveniently create invoices even when they are out of the office.
• Expense tracking is easy; you can track your expenses by taking a photo of your receipt with the FreshBooks app and attach it to a time in FreshBooks. There is no need to download any other apps for logging invoices.
• FreshBooks users have access to a library of webinars⁵ with advice on how to use FreshBooks and useful information about how to succeed in business.
• Both the main platform and the mobile app are easy to use, making it a great choice for people who are new to accounting software.
• It supports tax calculation in more than 100 countries. Tax laws are different in every country, but FreshBooks makes it easy for users to keep track of their taxes for tax time. You can check out my reviews of H and R Block and eTax as well, for managing tax accounting.
• Many reviews have praised their customer support team and if you have a problem, you can get help very quickly.
• You can try it FREE for 30 days.

“The competitive pricing of FreshBooks and the user interface, it’s just very user-friendly. For someone in branding and marketing PR, that’s important.”

CAROLINA RAMIREZ HERRERA, OWNER, CRH COLLECTIVE – freshbooks.com reviews¹

Disadvantages of using FreshBooks

• There are limits on the number of clients you can bill and the cheapest package only allows for 5 billable clients, then the next package allows for 50.
• You have to pay for users. If you have a small to medium size business⁶ with a number of employees, you will have to pay for each member to access the software. The current cost is $14 per person per month and this amount can quickly add up.
• It is not useful for retailers or ecommerce companies. It does not appear to have features for tracking inventory, and the fact that billable clients are limited for Lite and Plus packages means that it is not feasible for small businesses in retail.

FAQs about FreshBooks:

How many users does FreshBooks have?

According to the website, over 30 million people have used FreshBooks. It is not clear how many currently have a Freshbooks account.

Is there a FreshBooks mobile app?

FreshBooks has an app for both Android and IOS phones. The app integrates well with the online software and can be a valuable tool for users when they are away from the office.

Can I use FreshBooks offline?

FreshBooks cannot be used offline. With FreshBooks all your data is safely stored in the cloud⁷, but it means that you can’t use it unless you are connected to the internet.

Is FreshBooks worth it?

FreshBooks has received many good reviews, especially when it comes to customer service and ease of use. Forbes Advisor⁸ rates it as one of the best accounting software of 2022. If you are new to business, FreshBooks is a good way to get started. As well as providing accounting software, FreshBooks users have access to webinars and articles which can help you to grow your business.

While FreshBooks is particularly useful for small businesses, it may also be effective as your business grows. The different subscriptions offer features for businesses at every stage of development. If you need accounting software, then it is worth looking at FreshBooks as a solution. You can check out my review of the eBusiness Institute HERE, which goes into detail about making money with online business, which is how I have built a successful website business, which needs easy-to-use accounting software such as Freshbooks.

Conclusion

For small to medium size businesses, FreshBooks is an excellent choice of accounting software. There are numerous good reviews praising its ease of use and excellent customer service. The FreshBooks app easily syncs with the main software allowing users to manage their business, including easy invoicing and accounting, even if they are away from the office.

FreshBooks has different subscription prices depending on the size of your business. The company is based in Canada, but the software has been adapted to suit the tax circumstances of many different countries. If you are looking for cloud-based accounting software, FreshBooks is worth checking out.

Have you used Freshbooks accounting systems, or other accounting software? What are your thoughts? Let us know in the comments!

 Reference List:

1.   ‘FreshBooks’. Accessed online at https://www.freshbooks.com/ on 9 Dec, 2022.

2.   ‘FreshBooks Accounting Review 2022: Costs, Pros, Cons’. Bob Violino, Amrita Jayakumar, Hilary Crawford. Published 13 April, 2022. Accessed online at https://www.nerdwallet.com/article/small-business/freshbooks-review#how-does-freshbooks-work on 9 Dec, 2022.

3.   ‘FreshBooks Integrations’. SourceForge. Accessed online at https://sourceforge.net/software/product/FreshBooks/integrations/ on 9 Dec, 2022.

4.   ‘Freelance vs. Self-Employed Work: What’s the Difference?’. Indeed Editorial Team. Updated 22 Oct, 2022. Accessed online at https://ca.indeed.com/career-advice/finding-a-job/freelance-vs-self-employed on 9 Dec, 2022.

5.   ‘What is a Webinar?’. Webex. Accessed online at https://www.webex.com/what-is-a-webinar.html on 9 Dec, 2022.

6.   ‘Small and Medium-sized Enterprises (SMEs)’. CFI Team. Updated 5 Dec, 2022. Accessed online at https://corporatefinanceinstitute.com/resources/accounting/small-and-medium-sized-enterprises-smes/ on 9 Dec, 2022.

7.   ‘Cloud Storage Definition, Benefits, Security’. Jake Frankenfield. 4 Mar, 2022. Accessed online at https://www.investopedia.com/terms/c/cloud-storage.asp on 9 Dec, 2022.

8.   ‘Best Accounting Software for Small Business of 2022’. Kathy Haan. Updated 1 Dec, 2022. Forbes Advisor. Accessed online at https://www.forbes.com/advisor/business/software/best-accounting-software/ on 9 Dec, 2022.