PROS / FreshBooks provides simple-to-use, customizable invoicing and basic accounting tools that are well suited for businesses providing services, such as consultants, freelance workers and others who bill based on time.
CONS / This online accounting software provides minimal tools for tracking inventory or inventory variances.
VERDICT / If you do not need to manage complex inventory scenarios, FreshBooks is an excellent accounting software choice. It easily creates custom invoices, tracks expenses and manages client information.
Editor's Note: This review has been removed from our side-by-side comparison because it no longer ranks as a top 10 product. The original review is below, but check out our current Accounting Software here.
With accounting software – FreshBooks – you can save yourself time and prevent complications when it comes to the otherwise stressful world of accounting. Through efficient invoicing features, a streamlined interface and excellent mobile apps, FreshBooks can eliminate the stress from keeping your books and getting paid on time.
FreshBooks provides several different packages for accounting software, catering to a variety of business models and sizes. The Sprout package is the smallest and newest addition to the lineup, and it is best suited for individuals with a small client base since it only allows you to bill up to five clients. The next package, Seedling, supports billing for up to 20 clients. The Evergreen package gives you support for 200 clients, and the Mighty Oak package allows you to bill unlimited clients. Features like tracking team expenses, creating team timesheets and tracking employee sales are only available with the Mighty Oak package.
FreshBooks also offers a large number of useful add-ons, such as client portals where clients can view invoices and amounts they owe for free, without having to download any software.
Bookkeeping is a stressful task, and FreshBooks recognizes that. A number of different things can easily go wrong while you track expenses, bill clients and perform other standard accounting tasks. However, FreshBooks eliminates the stress from accounting and can even make the process pleasant. When we first opened the interface, we were able to create a new client, branded our account and sent a test invoice all within the first 10 minutes of use. FreshBooks provides the most streamlined interface out of all those we tested, and it doesn’t take an accounting professional to run. You don’t need to be a pro at accounting and know all the terminology to perform the necessary tasks, but the software still provides all the necessary data for your accountant to prepare your taxes for you.
As you get into adding more clients and sending out more invoices, FreshBooks makes the process go faster through a multitude of auto-fill features and dropdown inventory menus. After creating client accounts, this online accounting software auto-fills the client’s default language preference and currency into the invoices you create for that same client. When you create the invoice, the software also fills in any other stored client data you may have entered before, and it will calculate any applicable taxes and discounts. While you can send invoices via email or save them as PDFs, FreshBooks also offers to send them via snail mail when you purchase stamp credits.
FreshBooks can also help you manage budgets, tasks, projects and team members. You can also set different levels of permission for members of your staff that have access to the software. You can also adjust levels of access for clients on the client portal so they can’t see information that isn’t relevant to them specifically.
Creating your business profile within this cloud-based accounting software was simple. FreshBooks walks you through all the steps and even includes some getting started video tutorials you can watch to help ease you through the process. As it is with many of the companies we tested, you only have to enter your personal and business information to start using the software, but it is recommended you enter all relevant information in the beginning to avoid any confusion down the road.
Adding and managing vendors and complex inventory situations is hard with FreshBooks, but the software can still save inventory items that you enter, along with their corresponding tax rates, unit costs and product descriptions. Aside from that, adding new clients and their relevant information is simple and free of problems.
Getting set up on mobile devices is easy. FreshBooks has free apps for both iOS and Android phones and tablets. You can also access your dashboard on mobile browsers through a simple sign in procedure, but using the apps is easier and more reliable.
Accounts Payable & Inventory
FreshBooks offers the highest quality of service out of any of the online accounting software for small business we tested. Each method of support that FreshBooks offers is exceptional. Every customer service representative we talked to was professional and knowledgeable, and we had minimal wait times while contacting support. If you can’t find answers through normal support means, or if you don’t have time to contact a support representative, you can turn to FreshBooks’ user community and possibly find answers from other FreshBooks users like you.
You can also find support content in videos that are up to date and helpful. FreshBooks holds regular webinars that are helpful for all of its users, although some webinars are geared toward beginners or advanced users, depending on what is currently being offered.
Using FreshBooks can help you effortlessly keep your books and accounts in order, get paid on time, and spend less time frustrated over complicated accounting tasks. With support for multiple clients with different locations and currencies, you can be sure that FreshBooks will handle most complex situations. While this bookkeeping software is best for service-based industries due to its lack of inventory features, it still makes a great choice for professionals looking to minimize the time they spend on accounting.