FreshBooks Review: The BEST Accounting App for Small Businesses Like Yours!

Ilija Miljkovac is a Technopedia writer with 7 years of experience covering all things tech. He writes about everything from cybersecurity to ISPs, ensuring businesses and customers are educated about the latest products and services. He’s written for publications such as Business2Community, TheTechReport, Comparitech, and more. When he’s not maniacally hacking away at his keyboard, Ilija spends his time either hiking in nature or holed up in his apartment gaming. Another key similarity is that both platforms offer a cloud-based solution, ensuring easy access to financial data from anywhere. Zoho Accounting has an exceptional free forever plan that FreshBooks lacks, and both options are on our list of the best home accounting software solutions.

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A list of all invoices and recurring templates appears at the bottom. If you’d like to consider other popular accounting tools first, our team of experts has thoroughly reviewed some of the market’s best options to help you find the best one for your needs. FreshBooks offers unmatched service tailored for freelancers, consultants, and small businesses.

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This can come in handy when it’s tax preparation season and you need to organize all your business spending. From the Expenses menu, create a new bill by choosing the amount, client, and type of expense. These include advertising, contracting, education, office expenses, meals, and more. Choosing these categories makes it easy to organize and filter your expenses. Contacts, known as clients in FreshBooks, is a feature to save information on people you’ll be dealing with. Besides company information, save phone and address information.

This feature allows you to add, edit, and review inventory for billable items and helps you keep track of your stock. That makes FreshBooks one of the best for businesses with physical products, as most don’t offer native inventory management support. FreshBooks is the best software for small business owners new freshbooks review looking for a reliable invoicing solution. It can help impress your clients with professional-looking invoices that accurately show your work and its costs. It helps you customize email signatures to deliver a personalized experience to each customer and automatically bills late fees to overdue invoices.

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It’s also the cheapest plan to include mobile mileage tracking, which makes it a must for users who frequently go on business travels or fieldwork. FreshBooks and Intuit QuickBooks both have a 30-day free trial. QuickBooks is better suited for larger companies as it enables more customization options, but it comes at an additional cost. FreshBooks, on the other hand, is a better fit for small businesses and situations where no more than one person is managing the account. It offers everything that the Lite plan offers, as well as the ability to accept e-signatures on proposals and contracts. The Plus plan will allow you to send an unlimited number of proposals and take client retainers for regular work.

  • FreshBooks offers four plan options, each with increasing functionality.
  • The Reports screen, shown above, lets you display your top five reports at the top of the page for quicker access.
  • The software makes it easy to stay organized, keep track of payments owed and expenses made, send invoices and accept payments.
  • FreshBooks has very strong security settings, featuring 256-bit SSL encryption and intrusion detection programs.
  • Most accounting software companies provide these basic services even in their cheapest plans.

Once you’re done with the project, you can generate an invoice with a single click to send to your client. Get a quick overview of hours logged, remaining time in the budget, and total spent on the project. Whenever you assign an expense to the project, see how much profit you can expect to make from your quoted flat rate. When working with a client, there are always expenses involved.