FreshBooks

Score8.6 out of 10

208 Reviews and Ratings

What is FreshBooks?

FreshBooks is an accounting service for small businesses. The solution enables users to send and manage invoices, track billable time and collect online payments. The vendor’s value proposition this that their solution provides a straightforward service that simplifies the billing process.

Categories & Use Cases

Media

Screenshot of an example of a customizable invoice

Screenshot of an invoice appearing across devices

Screenshot of some of the available app integrations

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Screenshot of the dashboard

Single sign-on capability
The software system supports a centralized authentication mechanism allowing the user to access multiple systems with a single, centrally managed password.
Category average: 8.8
Role-based user permissions
Permissions to perform actions or access or modify data are assigned to roles, which are then assigned to users, reducing complexity of administration.
Category average: 8.8
Cost of goods sold
The software calculates the direct costs attributable to a finished product, such as materials and labor, and includes roll-up pricing.
Category average: 8.5

Expense management
The software can log and track business expenses and reimbursements, including travel-related expenses, with the ability to tie them to particular projects.
Category average: 8.5
Regulations compliance
The software helps users adhere to typical accounting standards and regulations such as IFRS, GASB, or GAAP.
Category average: 8
Custom reports
Users can create custom reports.
Category average: 8

Daniel Jaworski

Certified Public Accountant in Finance and Accounting at Deeagle Tax and Accounts Limited (1-10 employees employees)

Use Cases and Deployment Scope

We use Freshbook for bookkeeping and account production, but a few of our clients also use it for the same reason. The software offers free online software solutions for Barclays clients and is one of the leaders on the market, providing all the needed features for us and our clients.

Pros

Online payments.
Reports
Sales ledger.

Cons

Link with other software.
The software should include the MTD feature, not a third-party add-on.
More advanced reporting.

Return on Investment

Software is free for us and for other Barclays users; therefore, ROI is infinite.
It does save time with online solutions.
It cuts error time through the use of an online system that automatically updates for all users.

Usability

Alternatives Considered

Xero, QuickBooks Online Advanced, QuickBooks Self-Employed, QuickBooks Online, FreeAgent, BrightPay, BrightOffice CRM, Sage 50cloud Accounting and Sage Accounting

Other Software Used

Xero, QuickBooks Online Advanced, Sage 50cloud Accounting

Brad Schneider View profile

President and Owner in Corporate at The Growth Coach of Central Ohio (1-10 employees employees)

Use Cases and Deployment Scope

FreshBooks is the accounting and invoicing tool for my business coaching practice. I use recurring invoices with auto pay with clients and electronic payment receipts from the invoices I send. I manage all my expenses and have my bank account and credit cards automatically syncing to my account. My costs are mostly auto-categorized, so my bookkeeping and tax prep are seamless. I also use the time reporting features to track time spent on engagements. I use the reporting features to track my time spent with clients, the revenue billed by clients, and my monthly revenue targets.

Pros

Generating invoices from existing invoices and recurring templates.
Syncing bank accounts and credit cards.
Reporting capabilities are easy to use.
Converting proposals into invoices in one click.

Cons

The mobile app is not as robust as I would like compared to the website.
I would love to use the mileage tracker, but it is not as reliable as other apps that work.
I would love to see lower transaction fees.

Return on Investment

I invoice clients in less than an hour per month.
I manage all client data, proposals, invoices, and payments in one place.
Recurring invoice structures get me paid sometimes up to 30 days faster.
I have one place to track my time, AR, expenses, proposals, and all my bookkeeping and tax needs.

Usability

Alternatives Considered

QuickBooks Desktop Premier and QuickBooks Online

Other Software Used

Cloverleaf

Tammy Roberts

owner in Finance and Accounting at Reliable Resources LLC (1-10 employees employees)

Use Cases and Deployment Scope

Using Freshbooks helps me know my bottom line every month. At a glance of my P&L, I know what is missing or wrongly categorized. I can quickly see the report and know if I missed paying a bill for my fixed expenses, which saves me time before I close the month.

Pros

Payment Processing.
Copy Billing Invoices
Notifications.

Cons

Rule setup to recognize repeating expenses.
More reporting for lower level platform.
Ability to customize my COA.

Return on Investment

Well worth my monthly cost.
Time is money and I spend little time managing process issues in FreshBooks.
Tagging costs to a project to know my billing costs are appropriately quoted.

Usability

Alternatives Considered

QuickBooks Online

Other Software Used

QuickBooks Online, Intact Platform, Macola

Alex Panagiotopoulos View profile

Co-Founder in Marketing at Kingston Creative (1-10 employees employees)

Use Cases and Deployment Scope

We use FreshBooks for recurring and project-based billing. it provides an easy way to keep track of what we have outstanding and what has been paid, and we like that it offers many payment options for clients that we don't have to cobble together. It also helps us compare our billing and collecting payment data over the many years we've had it. We're on a level with it where we can only support 50 clients, but that's not too onerous to deal with.

Pros

Recurring invoices.
Project based invoices with multiple payments.
Offering payment options to clients.

Cons

50 client limit is annoying.
Sometimes recurring payments can be wonky.

Return on Investment

Quantifying year over year performance.
Making it easy for clients to pay sooner.

Usability

Other Software Used

Ahrefs, Google Analytics

Verified User

C-Level Executive in Corporate (1-10 employees employees)

Use Cases and Deployment Scope

We used FreshBooks exclusively for invoicing for 4 years. It allowed us to partially automate our invoicing process and do a much better job of tracking client invoices. Prior to using FreshBooks, we were invoicing our clients manually, with no way of taking payments online, or via PayPal. Our invoices were scattered and disorganized, with no central way to keep track of them.

Once we started using FreshBooks, our invoice aging reduced dramatically; what took 60-90 days to receive payment (with multiple manual reminders sent) reduced to under 30, almost immediately.

Pros

Invoice Tracking
Automated invoice reminders
Stripe payment processing connectivity

Cons

Market share

Return on Investment

Reduced average unpaid invoice age from 90+ days to less than 30

Usability

Alternatives Considered

QuickBooks Online

FreshBooks

What is FreshBooks?

Categories & Use Cases

Media

Key Features

Top Performing Features

Single sign-on capability

Role-based user permissions

Cost of goods sold

Areas for Improvement

Expense management

Regulations compliance

Custom reports

Reviews

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Other Software Used

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Other Software Used

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Alternatives Considered

Other Software Used

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Other Software Used

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Alternatives Considered

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