FreshBooks Review – 2019

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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

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