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Editor Choice

Freshbooks

9.8/10 (Expert Score)
Product is rated as #1 in category Business Accounting Software
PROS:
  • Ease of use.
  • Excellent mobile compatibility
  • Top-class customer service
  • Cost-effective and flexible packages.
  • Useful invoice templates.
  • Many numbers of integrations possible
CONS:
  • Limited number of users
  • Features could have seen a few more enhancements
  • Monthly packages are quite expensive
  • Not the best when it comes to accounts payable reports and monitoring

If you are running a business it is quite likely that you will find Freshbooks a must-have tool. It is quite obvious that whether it is a small business or a big one, we would like to know exactly where the business is headed in terms of sales, revenue, expenses, and finally the bottom line. To make this possible, each and every business needs to have a good accounting package or good business accounting software. Though a few firms may still continue to keep their accounts manually, the days of manual bookkeeping and account keeping is all but over.

Today, even the smallest of firms make use of accounting software packages for recording each and every financial and non-financial transaction that has a bearing on the company’s performance. While there are many software packages in the market, we will be looking at one such product by the name FreshBooks. This has become quite popular and therefore it would be worthwhile to have a closer look at it.

Those who have used FreshBooks have reasons to believe that it is a quality accounting software package. It has some useful features and some of the most talked-about automation that is built-in. These could go a long way in saving time and give accurate information about the entire accounting and financial happenings of the organization. Let’s have a look at some of the reasons as to why it makes sense to go towards this accounting package.

It has become quite popular amongst thousands of small, medium and even big sized organizations. This is because it is flexible, easy to use, upgradeable, and has many other functionalities and features that are considered quite impressive. Because of this, it would be a good idea to know more about it, don’t you think?

What is FreshBooks?

Put in plain and simple terms, FreshBooks is an accounting software package that has a number of interesting and customer-friendly features. It can help the users record each and every business transaction that takes place in an organization no matter how big or small it might be. It also has the inbuilt capability of recording transactions in the respective accounts, tabulating a trial balance, and then finishing out with error-free and accurate final accounts at any given point in time.

It would not be out of place to mention here that this accounting software could be an end-to-end solution for all those who want to record accounting transactions and then get the required information that is useful to all stakeholders. The good thing about this software is that it takes care of everything from an entry of basic journal transactions to the final output like cash flows, profit statements, and much more. It is the one-in-all solution as far as any type of business is concerned.

freshbooks

Pricing

The good thing about this software is that it has flexible pricing options. According to many users, it is one of the most cost-effective SaaS accounting solutions in the market today. The pricing plans start from $15 to $50. The customer can choose the one that meets their specific needs and requirements. The cost is dependent on the number of clients and the number of seats. Another positive takeaway is that the costs could come down even further when the clients opt for annual packages. At the end of the day, there is no denying the fact that FreshBooks is a good solution that offers the best possible value for money.

Features

Dashboard – One of the main reasons for choosing FreshBooks is that it comes with a very attractive dashboard. This helps you to get the required information about the business at a glance. The dashboard is not only figurative in nature but also has graphs that help the owners of the businesses and other stakeholders to get an overview of things without having to dig deep into the data and information.

It shares information about revenue streams, outstanding revenue, total profit, unbilled products and services, and other information about spending and incomes. It also has side menus that offer users quick access to key reports. Many users are happy with the quick create button. This is located in the top right-hand corner and it also comes with a help button.

Invoicing – The software comes with two basic templates as far as invoicing is concerned. The good thing about the template is that they are customizable. It allows changing of font, color, header, and logo. It can be made specific to organizations and the specific themes that they have in mind. It also offers default email forwarding features.

Estimates & Client Portal: Many users considered FreshBooks as one of the best options for all those who would like meaningful and accurate estimates. These estimates are auto-generated based on parameters that the users set. It also has a very exciting and useful client portal. Freshbooks allows the ability to input, save, accept, print, and also post comments on various invoices that they generate. The bank information about clients can also be saved by the clients if they so wish.

Expense Tracking, Bank Reconciliation & Accounts Payable: Freshbooks is considered to be very useful and user friendly when it comes to tracking of expenses on a regular and even live basis. Aside from the double-accounting facility, FreshBooks also offers bank reconciliation on a live basis. This saves quite a bit of time and effort. However, it does not have a robust account payable management system and this is something that needs to be addressed.

Conclusion

At the end of the day, when we look at the main features, integration capabilities, user-reviews, and other such attributes, it is quite obvious that there are a number of reasons for choosing FreshBooks as reliable, proven, and time-tested accounting software. It is suitable for a small, medium, or large-sized organization. It is also extremely user friendly. However, some aspects like the absence of accounts payable details and other such issues have to be addressed as soon as possible. It has many flexible monthly or yearly packages.  All of this goes a long way in making a good accounting software solution.

Freshbooks
Freshbooks
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