FreshBooks is an efficient accounting tool for solopreneurs, as well as small and medium-sized businesses. It is considered one of the most prominent cloud-based accounting and bookkeeping solutions, and combines streamlined functionality with an interactive dashboard and a wide range of accounting features. It provides complete automation of daily accounting requirements including invoicing, payment acceptance, expense tracking, and real-time financial reporting.

Is FreshBooks right for my business?

FreshBooks is a solid accounting and bookkeeping tool for small business owners, freelancers, and self-employed individuals. The range of services provided by FreshBooks including automation of daily accounting activities and invoice creation, which is a good choice for businesses that bill hourly and/or rely heavily on project work. Its billable time tracking feature allows freelancers to work efficiently.

What features does FreshBooks offer?

• Efficient invoicing, expensing, time tracking functions with complete automation of payment reminders, bill due dates, and late fees
• Ability to collect credit card payments through sent invoices
• Automatic updating of expenses from connected business credit cards
• Ability to import expenses from screenshots of receipts
• Efficient project and time tracking functionality
• Ability to add employees, contacts, and clients to contribute to a project
• Complete management of access control
• Inventory management and payroll processing through third-party applications

How much does FreshBooks cost?

FreshBooks offers three distinct pricing plans:

Lite

• Costs $15/ month
• Provides an unlimited number of invoices and estimates
• Ability to track time and expenses
• Seamless import of expenses from your bank account
• Limited to 5 active clients

Plus

• $25/month
• Includes all the benefits of the Lite plan
• Automatic payment reminders
• Charge late fees for overdue invoices
• Ability to schedule recurring invoices
• Ability to send proposals
• Can bill up to 50 clients

Premium

• Costs $50/month
• Includes all the benefits of the Plus plan
• Ability to bill up to 500 active clients

Pros of using FreshBooks 

• Interactive, user-friendly and easy to use interface
• User-friendly dashboard with a number of features to control different accounting functions
• Comprehensive customer support and 24×7 availability
• Effective mobile app with a wide range of features
• A wide range of attractive invoice templates for customization
• A high number of third-party integrations
• Efficient time tracker feature that lets you record the time you spend working on projects
• Simple yet flexible notes section to store time entries
• Provides tools for team collaboration, and estimation of projects

Cons of using FreshBooks 

• Only allows single-entry accounting functionality which restricts its usage
• Limited features in comparison to other based accounting software applications
• In contrast to the number of features and benefits provided by the software, has a relatively expensive monthly cost
• Buggy email click-throughs and automated expenses
• The reporting function is not flexible
• Lack of a dedicated Android App
• Monthly invoices do not display the pending amount from previous unpaid invoices