Freshbooks Review - Bills, Accounting, Recurring Payments
Updated · May 24, 2022
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- 30-days free trial
- User-friendly interface
- Useful mobile app
- Option to add an accountant
- Subscription billing for premium plans only
- A bit pricey
Are you a freelancer?
Did you just start your own business?
Do you already own a small company?
If so, then you surely need a reliable accounting system to support your business.
FreshBooks might just have the solution for you. We wrote this comprehensive FreshBooks review so you can check out this platform and see if it’s the right fit for you.
Keep reading to find out all the necessary information.
What Is FreshBooks?
FreshBooks is a cloud-based accounting software developed by 2ndSite Inc.
But this SaaS billing software isn’t only an accounting platform—FreshBooks can be extended on premium plans into a fully-fledged subscription billing system.
This software has it all—from handy reports and advanced accounting options to the useful FreshBooks mobile app.
Take a look at some of the most interesting features presented concisely in this FreshBooks review for 2022.
FreshBooks is incredibly feature-rich accounting software that’s also suitable for project management.
It’s great even for those who aren’t that familiar with accounting. All features can be customized in accordance with customer preferences. You can collect bills, invite your own accountant to help you, and much more—the options are numerous.
FreshBooks accounting includes the option of double-entry accounting. It provides you with accurate reporting so you can follow up with your key business metrics.
The platform offers automation of revenue operations and lowers the chances of financial errors to a minimum.
FreshBooks’ competitors can’t beat the option to add your accountant to your profile. This way, you can work with a professional you trust and provide them exclusive financial information and reporting. Everything is made to help you grow your business.
If you need to manage your transactions, there’s the bank reconciliation tool. It will monitor and organize all your spendings—from invoice payment to a coffee you’ve purchased at the local shop.
In this FreshBooks review, we found the payable accounts feature extremely useful—it collects all of your bills and debts for you. But there’s more—with credits, refunds have never been easier. Thanks to this feature, you can track prepayments, overpayments, and credit notes.
And most importantly, FreshBooks includes the bookkeeper in its offer, so you don’t have to worry about your growing business data.
Estimates and Payments
FreshBooks generates invoices by quickly transforming your custom estimates. The FreshBooks payment processing tool keeps a record of all incoming payments.
If you want to impress your clients with tailor-made projects, you can do so with FreshBooks proposals. You can ease the acceptance process by allowing your customers to do everything online. And the cherry on top—you can brand everything to present high levels of professionalism.
With FreshBooks, you can pay through invoices directly. You can set it all up with a snap of your fingers. The FreshBooks payment gateways are Stripe, PayPal, and FreshBooks payments. Their transfer fees are transparent, so there won’t be any surprises for you or your clients.
If you want lower transaction rates, you can use FreshBooks select. It also provides you with an account executive,advance payments, and access to bookkeeping to take your business to the next level.
If you want to bypass invoices, just use the checkout links and post them on your website, social networks, or elsewhere. That way, your customers’ payments are just a click away.
FreshBooks payment gateways may not be numerous, but the advanced payments feature gives you different payment methods—you can accept credit card payments online, over the phone, or in person.
This platform handles collections very well. It offers payment schedules & partial payments, requesting deposits, accepting different currencies thanks to Stripe, and much more.
With FreshBooks invoicing, you can generate invoices quickly and customize them. You can send an invoice with your own logo on it and tailor thank you emails to get your customer’s attention.
While you’re doing the important things, let FreshBooks’ automated billing software do the hard work for you.
The FreshBooks software will help you establish a stable cash flow with retainers. You can include deposits in your invoices, so you don’t have to worry whether you’ll be paid when a project ends or not.
These were just some of the many options that FreshBooks offers, and you can find more about it on its official website.
With FreshBooks reporting, you’ll always be up to date with your business metrics.
You can skip all the hassle and use the dashboard to access important financial reports, such as:
- Invoice and expense reports—invoice details, expense report, item sales, and revenue by client
- Payments reports—account aging, payments collected, accounts payable aging, and credit balance
- Accounting reports—balance sheet, profits & loss, general ledger, trial balance, bank reconciliation summary, sales tax summary, and cash flow
- Time tracking and project reports—time entry details, retainer summary, and a profitability summary
This system also includes advanced tax management.
Expenses and Time Tracking
The FreshBooks accounting software is easy to connect to your bank account. This means that FreshBooks will update your account daily and you can keep track of your spending. It will also spare you the struggle of collecting numerous receipts.
FreshBooks Expenses takes care of your taxes too. It’s easy to work with, but if you’re not confident handling them on your own, you can leave it to your accountant.
You can now bill your clients more efficiently and keep an eye on how much you’re spending on projects. But let’s see what we found out for our FreshBooks review. Is it beneficial for project management?
FreshBooks is an excellent team collaboration and project management software.
You can invite your contractors, employees, and business partners to collaborate on a project. They can leave feedbackthat will be stored in the cloud. With the FreshBooks accounting software, all info is accessible with a unique web-based centralized place for file storage.
Control permissions, chat on work, assign tasks, and much more with FreshBooks.
Pretty much everything we’ve mentioned so far is available on FreshBooks’ mobile accounting app for iPhone and Android users.
Thanks to the FreshBooks app, you can work at any time, from anywhere. Manage your business on the go.
You can manage invoices, collect expenses, and chat with your teammates. Always be up to date and in sync. With this handy app, you won’t miss a thing.
Ease of Use
FreshBooks’ light ease of use is what makes this system so unique. Many users deemed the simplicity of this software as outstanding in their FreshBooks reviews.
Both web and mobile apps are straightforward to use and have an intuitive user interface. Even if you’re not very good at accounting, you’ll quickly learn how to use these handy apps.
Overall, FreshBooks offers an excellent user experience.
FreshBooks Plan Comparison
With a FreshBooks membership, the management of billable clients becomes a piece of cake. All you have to do is pick a plan.
FreshBooks allows customers to try out the service with a 30-day free trial. No credit card information is required and there’s even a 30-day money guarantee.
Its offer starts at only $15. Let’s see what the plans contain.
For $15/month billed monthly or $180 annually (reduced to $6 and $108 respectively at the time of writing this review if you pay for six months in advance, or a year), you’ll get these features and more: Five billable clients Client self-service portal Automated recurring invoices Unlimited estimates Unlimited & customized invoices Check out links Business health reports At-a-glance performance dashboards You can add team members to every plan for an additional FreshBooks monthly cost of $10 per person. You can also get Gusto Payroll with integration to FreshBooks to help you manage payrolls (see Gusto for pricing).
The Plus Plan costs $25/month billed monthly or $300annually (currently reduced to $10 and $180 respectively for the six-month/yearly deal). With it, on top of what the Lite plan has to offer, you’ll get: 50 billable clients Unlimited proposals Client retainers Double-entry accounting reports Bank reconciliation Accountant access With the Plus and Premium plans, you can add advanced payments, extending the FreshBooks billing service into a subscription-based and recurring billing service. This add-on costs $20/month
For $50/month billed monthly or $600 annually ($20 and $360 respectively with the discounts), you get a multitude of features. Just some of them are: Unlimited number of billable clients Customized email templates & signatures Automated client emails Project profitability Accounts payable
To get the FreshBooks pricing for this plan, you’ll have to contact sales. The Select Plan is a feature-rich plan that’s suitable for businesses with numerous clients. The four most important features for this plan are: Two team member accounts included Dedicated account manager Customized onboarding process Advanced payments included in the price This plan is also highly customizable. Other perks include: Unlimited number of billable clients Removing FreshBooks branding from client emails Subscription-based payments Secure card storage
With all FreshBooks plans, you will receive fantastic support. Let’s see what that entails.
FreshBooks support is available globally during business hours. You can contact the team reps via email or phone. There are also a useful chatbot and comprehensive knowledge base if you’re in a hurry.
You can also request a free 15-minute call with the FreshBooks sales team if you have any questions about the sign-up process. Support agents are nothing but polite, responsive, and patient.
Now, let’s see how users perceive FreshBooks’ pros and cons.
FreshBooks User Reviews
Users love FreshBooks’ intuitive user interface. Many of them state it’s great for accounting and that it has saved them countless hours of bookkeeping.
On FreshBooks review Reddit threads, a few customers express their dissatisfaction with the software’s new version. They critique its design and deem it unnecessarily complicated and improved only on the surface.
Even though it can be a bit pricey, users who own small businesses are quite satisfied with this platform.
When to Use FreshBooks
If you’re a freelancer, own a startup, or a small business, you can surely benefit from FreshBooks accounting software. It’s simple, has responsive customer support, and numerous accounting features.
If you don’t have an accountant, don’t worry—this platform is very easy to learn and you can do everything yourself. If you do have an accountant, you can invite them to be your right hand. In case you want to improve your accounting skills, there are plenty of resources online.
If this doesn’t sound like the right solution for you and you want to check out other solutions, take a look at the FreshBooks alternatives below.
FreshBooks is accounting software that offers a subscription billing service extension on premium plans. If you don’t think FreshBooks is the right solution for your business, we’ve prepared some software that specializes in subscription management.
FreshBooks vs Chargebee
Chargebee is an all-in-one subscription management and recurring billing system, while FreshBooks is entirely focused on accounting. With this comes the fact that Chargebee has more advanced analytics, more integrations, and subscription-based billing on every plan.
However, this makes it more expensive than FreshBooks.
FreshBooks vs Zuora
Zuora is a subscription management and recurring billing system with built-in accounting features. Its wide offer is appropriate for businesses of all sizes, including large enterprises. But it’s also pretty expensive.
If you mainly need help with your accounting and not advanced subscription billing functionalities, FreshBooks is the better solution.
FreshBooks is one of the best accounting solutions out there.
You can use FreshBooks as subscription management and recurring billing system for a reasonable monthly fee. The downside is that this option is available only with premium plans.
But its simplicity, handy mobile app, useful reports, and project management features make this service worth trying.
If you want to see it for yourself, feel free to test out the trial version just like we did for this FreshBooks review.
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