FreshBooks review
Bottom line
FreshBooks is invoicing and bookkeeping software for small service businesses that want billing, payments and accounting in one web app. Its clearest strength is the breadth of its invoicing and payment tools, including automated reminders, multiple payment methods and double-entry reports. The main cost to watch is the client cap on the Lite and Plus tiers, along with add-ons such as team members and payroll that raise the price. Freelancers and small firms that need to invoice and reconcile without a separate accounting package should pick it.
What is FreshBooks?
FreshBooks is cloud accounting and invoicing software for freelancers, service businesses and small companies. It covers the money side of running a business: sending invoices and estimates, collecting payments, tracking time and expenses, keeping the books and producing financial reports. It is aimed at owners who would otherwise juggle spreadsheets and separate tools for billing, bookkeeping and payroll.
Day to day, a user creates a client record, builds an invoice or estimate, and adds tracked time and expenses before sending it. Clients can pay by credit or debit card, ACH bank transfer, Apple Pay, Google Pay or Buy Now, Pay Later options, and automated late payment reminders follow up on unpaid invoices. Bank accounts can be linked for automatic transaction import and bank reconciliation. The mobile apps for iPhone and Android include receipt scanning and mileage tracking. The owner can run profit and loss, balance sheet and trial balance reports, and grant an accountant access to the same live data.
FreshBooks is used by freelancers, solopreneurs, businesses with employees and contractors, and firms in industries such as construction, legal, consulting and marketing. Pricing is tiered by client count and features. Lite is $4.60 per month during the promotional period, with a regular price of $23.00, Plus is $8.60, Premium is $14.00, and Select is quoted on request. A 30-day free trial requires no credit card. Team members, Advanced Payments and FreshBooks Payroll are sold as add-ons on the lower tiers.
What sets FreshBooks apart is that billing and double-entry accounting live in the same web application, with a customizable chart of accounts, bank reconciliation and accountant collaboration built in. Payroll is available as an add-on, and an app marketplace of more than 100 apps connects it to tools such as Stripe, PayPal, Zapier, Trello and Asana. An API is available for developers and partners. Support is offered by email, help desk, chat and phone, with phone support included on the Select plan.
Who it's for
- Freelancers and solopreneurs
- Small service businesses
- Businesses that invoice clients on recurring schedules
- Owners who work with an outside accountant
Who should look elsewhere
- Businesses needing a free plan with no time limit
- Companies that need offline or desktop-only accounting software
- Teams that need many user seats on the base plan
Typical uses
- Sending invoices and estimates to clients and collecting online payments
- Tracking billable time and expenses against client projects
- Reconciling bank transactions and producing profit and loss reports
- Sharing live books with an outside accountant at tax time
- Running payroll for a small team within the same account
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FreshBooks alternatives and comparisons
FreshBooks is the only billing and invoicing product we list so far. Browse the category as more are added.
