FreshBooks Accounting Software Review 2023

Performance at Glance

Specifications	Rating at Glance	Our Verdict
Ease of Use		Simple and intuitive – no accounting degree required!
Features		FreshBooks offers all the accounting tools you need in one place.
Price		Get more for your money with FreshBooks' feature-rich plans.
Support		FreshBooks' support team is always here to help – 24/7.
G2 Rating		Join the thousands of satisfied users who have rated FreshBooks on G2.

• Ease of Use

FreshBooks is known for its user-friendly interface and ease of use. The software is designed to be intuitive, and even users with no accounting experience can quickly learn how to use it. The dashboard is easy to navigate, and all of the features are clearly labeled and organized.

• Features

Offers a variety of features to help small businesses manage their finances. Some of the key features include invoicing, time tracking, project management, expense tracking, and reporting. FreshBooks also offers automated late payment reminders, recurring invoices, and even automated late fees to help businesses get paid on time.

• Price

Has a variety of pricing plans to suit different business needs. The pricing plans range from $15 to $50 per month, with the higher plans offering more advanced features and increased user limits. FreshBooks also offers a 30-day free trial so that users can test the software before committing to a paid plan.

• Support

FreshBooks offers customer support via phone, email, and chat. The support team is available 24/7 to answer questions and provide assistance. FreshBooks also offers a knowledge base and video tutorials to help users learn how to use the software.

• G2 Rating

Has a rating of 4 stars on G2, a popular software review platform. The software is praised for its ease of use, invoicing capabilities, and customer support. Some users have criticized the software for its limited customization options and lack of integrations with other software tools.

Features of FreshBooks Accounting Software 

• Invoice clients

Allows you to create and send professional invoices to your clients quickly and easily. You can customize your invoices with your branding and logo, set payment terms, and even add late payment fees. FreshBooks also offers automated invoice reminders and recurring invoices to save you time and ensure you get paid on time.

• Record and track expenses

Lets you track all of your business expenses in one place. You can categorize expenses, upload receipts, and even bill expenses to clients. FreshBooks also allows you to set up recurring expenses and auto-import expenses from your bank or credit card.

• Track time

Offers time tracking tools to help you accurately bill clients for your time. You can track time on tasks or projects, and even set different billing rates for different tasks or team members. FreshBooks also allows you to create timesheets and send automatic reminders to team members to track their time.

• Manage a project

FreshBooks’ project management tools allow you to keep track of all the details of a project, including deadlines, tasks, and team members. You can assign tasks, track time, and even set up project budgets to stay on top of project costs.

• Make client estimates

Helps you to create professional estimates for clients. You can customize your estimates with your branding and logo, and even convert estimates into invoices with just one click.

• Record payments

Lets you record payments and track outstanding balances. You can accept payments online via credit card, PayPal, or ACH bank transfer. FreshBooks also allows you to set up automatic payment reminders and recurring payments.

• Utilize double-entry accounting

Uses double-entry accounting, which means that every financial transaction is recorded twice – once as a debit and once as a credit. This ensures that your books are accurate and up to date.

• Produce reports

Has a variety of reports to help you stay on top of your finances. You can generate reports on revenue, expenses, and profit and loss, as well as reports on specific clients, projects, or team members.

• Invite team members with My Team

FreshBooks’ My Team feature allows you to invite team members to collaborate on projects and tasks. You can set different permissions for different team members and keep track of their time and expenses.

How to use FreshBooks?

FreshBooks is designed to be easy to use, with a user-friendly interface and intuitive navigation.

• Sign up for a FreshBooks account

You can sign up for FreshBooks on their website by choosing a pricing plan and entering your information.

• Set up your account

Once you’ve signed up, you’ll need to set up your account by adding your business information, uploading your logo, and customizing your settings.

• Create clients and projects

To start using FreshBooks, you’ll need to add your clients and projects. You can create new clients and projects from the dashboard, and add details like contact information, project deadlines, and billing rates.

• Create invoices and estimates

Once you’ve added your clients and projects, you can create and send invoices and estimates to your clients. You can customize your invoices and estimates with your branding, and set up automatic payment reminders to ensure you get paid on time.

• Record expenses

FreshBooks allows you to track all of your business expenses in one place. You can upload receipts, categorize expenses, and even bill expenses to clients.

• Track time

You get time tracking tools to help you accurately bill clients for your time. You can track time on tasks or projects, and even set different billing rates for different tasks or team members.

• Manage projects

The tools help you to keep track of all the details of a project, including deadlines, tasks, and team members. You can assign tasks, track time, and even set up project budgets to stay on top of project costs.

• Record payments

FreshBooks lets you record payments and track outstanding balances. You can accept payments online via credit card, PayPal, or ACH bank transfer.

• Generate reports 

You get a variety of reports to help you stay on top of your finances. You can generate reports on revenue, expenses, and profit and loss, as well as reports on specific clients, projects, or team members.

• Invite team members

If you have a team, you can invite team members to collaborate on projects and tasks. You can set different permissions for different team members and keep track of their time and expenses.

Freshbooks VS QuickBooks 

FreshBooks and QuickBooks are both popular accounting software options, but they have some key differences.

QuickBooks: is a popular accounting software designed for small and medium-sized businesses. It is developed by Intuit and offers a range of features to help businesses manage their finances more efficiently. QuickBooks provides tools for invoicing, expense tracking, financial reporting, and inventory management, among other features. With its user-friendly interface and robust integrations with other business tools, QuickBooks is widely used by businesses of all sizes and industries to simplify their financial management processes. It offers both cloud-based and desktop versions, allowing users to access their financial data from anywhere at any time. Additionally, QuickBooks offers several pricing plans to suit different needs and budgets, making it a flexible and scalable solution for businesses looking to improve their accounting processes.

FreshBooks is a good choice for small businesses and freelancers who need a simple, user-friendly accounting solution that focuses on invoicing, time tracking, and project management. QuickBooks is better suited for larger businesses with more complex accounting needs, as it offers a wider range of features and functionality.

How to pay invoices on Freshbooks?

If you’ve received an invoice from a vendor who uses FreshBooks for their accounting, there are several ways you can pay the invoice:

• Online payment

Many FreshBooks users offer online payment options, which can be the quickest and easiest way to pay an invoice. You can usually find a “Pay Now” button or link in the email or PDF invoice that you received. This will take you to a secure payment portal where you can enter your payment information and submit your payment.

• Credit card

If the vendor accepts credit card payments, you can usually pay the invoice by phone or by entering your credit card information directly into the online payment portal.

• ACH or bank transfer

Some FreshBooks users also accept ACH or bank transfer payments. This involves authorizing a transfer from your bank account to the vendor’s bank account. You can usually find the necessary information, such as the vendor’s routing number and account number, on the invoice.

• Check

If you prefer to pay by check, you can usually mail a physical check to the vendor’s address listed on the invoice. However, keep in mind that this may take longer to process than online payments.

If you have any questions about how to pay an invoice or need assistance with the payment process, you can contact the vendor or FreshBooks’ customer support team for help.

How to import data into Freshbooks?

If you’re switching to FreshBooks from another best small business accounting software or need to import data from another source, you can do so using the following steps:

• Prepare your data

 Before importing data into FreshBooks, you’ll need to ensure that your data is in a compatible format. FreshBooks supports CSV (comma-separated values) files, which you can create by exporting data from your previous software or converting data from another file format.

• Log in to FreshBooks

Log in to your FreshBooks account and navigate to the “Import/Export” page. This is typically located in the “Settings” or “Tools” section of the main menu.

• Choose your import type

 FreshBooks allows you to import data for clients, expenses, projects, time entries, and items. Select the type of data you want to import from the options provided.

• Upload your file

 Use the “Choose File” button to upload your CSV file to FreshBooks. If your data contains headers, ensure that they match the headers used by FreshBooks.

• Map your fields

FreshBooks will display a preview of your data and prompt you to map the fields in your CSV file to the corresponding fields in FreshBooks. Use the drop-down menus to match each field in your file to the appropriate field in FreshBooks.

• Preview and import

Once you’ve mapped your fields, review the preview of your data to ensure that everything looks correct. If necessary, make any changes or corrections to your mapping. When you’re ready, click the “Import” button to import your data into FreshBooks.

• Review your data

After importing your data, review your FreshBooks account to ensure that everything has been imported correctly. If you notice any issues or errors, you can usually correct them manually within FreshBooks.

Importing data into FreshBooks is a straightforward process that can save you time and effort when switching to or setting up a new accounting system. 

Conclusion

FreshBooks accounting software is a cloud-based solution that provides a range of features and benefits for small businesses, freelancers, and independent contractors. With its easy-to-use interface, powerful invoicing capabilities, time tracking and project management features, and integrations with other business tools, FreshBooks is a popular choice for managing finances and streamlining administrative tasks.

FreshBooks offers a range of other tools to help users manage their finances and stay organized. These include tools for tracking expenses, managing vendor payments, and generating financial reports. With FreshBooks’ double-entry accounting system, users can be confident that their financial data is accurate and up-to-date.

FreshBooks also offers a range of pricing plans to suit different needs and budgets, with options ranging from the affordable Lite plan to the customizable Select plan. With transparent pricing and no hidden fees, FreshBooks makes it easy for users to understand the costs of using its software.

FreshBooks’ customer support is also a standout feature, with helpful and responsive agents available via phone, email, and chat. The extensive help center and community forum offer additional resources for users looking to troubleshoot issues or learn more about the software.

Frequently Asked Questions

• What is the purpose of FreshBooks?

FreshBooks is an accounting software designed for small businesses and freelancers. Its purpose is to simplify accounting tasks and help business owners manage their finances more efficiently. It offers features such as invoicing, time tracking, expense tracking, project management, and reporting.

• Who is FreshBooks best for?

FreshBooks is best for small businesses and freelancers who need easy-to-use accounting software to manage their finances. It is particularly useful for service-based businesses, such as consultants, designers, and freelancers.

• Is FreshBooks good for small businesses?

Yes, FreshBooks is a popular accounting software for small businesses. It offers a range of features that are specifically designed for small business owners, such as invoicing, expense tracking, and time tracking. Its user-friendly interface and customer support make it an ideal choice for those new to accounting.

• Is FreshBooks easy to learn?

Yes, FreshBooks is easy to learn, even for those with little to no accounting experience. Its user-friendly interface and straightforward design make it easy to navigate and use. Additionally, FreshBooks offers a range of training resources, including tutorials, webinars, and a knowledge base.

• Does FreshBooks calculate sales tax?

Yes, FreshBooks can calculate sales tax. It allows you to set up tax rates and apply them to your invoices automatically. It also provides reports that help you keep track of your sales tax obligations.

• Does FreshBooks include payroll?

No, FreshBooks does not include payroll. However, it does integrate with third-party payroll providers, such as Gusto and Wagepoint, which allow you to manage your payroll within FreshBooks.