Running a company entails overseeing various business aspects. From production, and marketing to invoicing and billing, you have to stay on top of everything. Although you can hire different people in charge of multiple departments, using automation for some business methods will save entrepreneurs a lot of time. And when it comes to invoicing and billing, FreshBooks is a top choice. This FreshBooks review will tell you everything you need to know about the software.
Small business owners prefer FreshBooks over other invoicing platforms. That’s because it saves them hours every day due to innovative and systematic methods. FreshBooks is an invoice-generator software that saves accountants and entrepreneurs a lot of time during this process. To date, FreshBooks has over 24 million clients worldwide. More than 160 countries also use it.
Founded in 2002, FreshBooks aims to help all types of businesses automate and speed up their work processes. And this idea was all because the founder and CEO accidentally lost his work by saving over an invoice in 2003. Due to this incident, the inspiration for creating a software that caters to the needs of small businesses and self-employed individuals came to life.
The FreshBooks Philosophy: 4Es
The FreshBooks philosophy is to “Execute Extraordinary Experiences Everyday.” And this doesn’t only refer to invoicing and billing. This is emanated in everything entrepreneurs do in running their business.
From product design, company culture to offering stellar customer support, FreshBooks’ goal is to make every day a worthwhile experience. FreshBooks’ mission is “Reshaping the World to Suit the Needs of Self-Employed Professionals and Their Teams.” And this mission fuels the passion of the dedicated individuals and teams behind FreshBooks.
FreshBooks Review: Features and Benefits
Having FreshBooks in handy can make your life easier through these features and benefits:
Simple Invoice Software
FreshBooks’ invoice software is fit for small businesses. It’s a simple platform where you can generate an invoice and bill fast. You’d be surprised at how quickly you can get paid by using its user-friendly and systematic platform. Some other invoicing features that FreshBooks offers are:
- Customize the invoice payment terms
- Add the invoice due dates
- Offer discounts easily
- Calculate taxes automatically
- Preview invoices
- Ability to choose a preferred currency
- Get updates when invoices are views and paid
- Monitor invoice from your mobile phones
- Track billing inventory
Powerful Expense Tracker
You no longer have to update and browse through long and tedious spreadsheets to track your expenses and profits. With FreshBooks, you can use the powerful and easy expense tracker to know how much you’re spending and how much money is coming in as well. Here are some of the other tracker’s features:
- Choose from multiple currencies
- Automate segregation of expenses
- Assign recurring expenses easily
- Take shots of receipts and store them in the mobile app
- Integrate to cloud storage to keep receipts safe and secure
- Tax-friendly categories
- Ability to import your expenses from your bank
Reliable Time Tracker
When you’re running a business, every second counts to ensure that you’re maximizing productivity. This will permeate to every department in your business and will be the reason for increasing the company’s bottom line.
Tracking and monitoring the time spent on projects and clients is crucial if you want optimum productivity. And this is where FreshBooks’ easy and reliable time tracker comes in handy. After tracking time, you can then generate an invoice to bill your clients with just one click.
On top of that, here are other ways you can enjoy FreshBooks’ time tracker platform:
- Track time when working with the entire team
- Track time when working with a particular client
- Track time for a specific project
- Jot down all time entry notes
- Bill for all tracked hours automatically
- Get monthly and weekly views of tracked time
- Get a daily breakdown of all tracked work hours
- User-friendly and built-in timer suitable for desktops and mobile phones
Fast Payment Processes
FreshBooks boasts a faster payment process online. You no longer have to sit and wait for your clients to pay you. With the FreshBooks payment process, expect to get paid two times faster! Here are some powerful advanced payment features:
- Accept credit card payments online, over the phone, or in-person
- Flexible payment schedules
- Lets you receive partial payments
- Accept international currencies via Stripe
- Control cash flow by requesting deposits
- Quick and easy bank deposits
- Multiple credit card payment options (MasterCard, VISA, AMEX, Apple Pay)
Straightforward Reporting Tool
FreshBooks lets clients access a straightforward dashboard to view all their reports. You can check the easy-to-use financial reporting tool to assess how your company is performing. The reports are detailed enough that it’ll be easier to track your business progress. Also, your accountant will enjoy seamless work when using FreshBooks’ straightforward reporting tool. These are the additional features and benefits:
- Color-coded expense breakdowns
- Summary of recent activities
- Detailed profit and loss reporting
- Sales tax summary reporting
- Filter reports by team members, clients, or dates
- Save, print, or export financial reports
- Track mobile milage
Who is FreshBooks For?
Anyone can use FreshBooks. If you want a speedy invoicing, billing, time-tracking, and reporting process, FreshBooks is a worthy investment.
FreshBooks is best for freelancers to quickly collect payments from clients and automate reminders. It’s also great for self-employed professionals, so you have all your billing and payments in one place.
Finally, FreshBooks is also best-suited for businesses with contractors or businesses with employees to monitor your business performance. It also allows you to collaborate better with your team and clients. Plus, you can keep your cash flow seamless through powerful automation features.
FreshBooks offers four pricing tiers. Here’s a rundown of FreshBooks’ rates:
- Lite is best for professionals ($4.50 a month)
- Plus is best for entrepreneurs aiming for automation ($7.50 a month)
- Premium is best for growing businesses ($15 a month)
- Select is best for businesses with complex needs (Custom pricing)
This FreshBooks review indicates that this powerful software is something small businesses and self-employed individuals should look into. However, if you’re still hesitant about subscribing to FreshBooks, try their 30-day money-back guarantee today.