FreshBooks is designed for SMEs and is fast gaining popularity among UK small businesses because of its inexpensive prices (including frequent promotions and discounts), attractive design, and powerful functionality.
In this article, we will give a review on pricing for Freshbooks, Freshbooks customer service, Freshbooks invoices as well as the advantages and disadvantages of using Freshbooks.
What Exactly Is FreshBooks Accounting?
FreshBooks is a straightforward online accounting software that allows you to send invoices to clients, track costs, and accept credit card and bank transfer payments. It has time tracking, project management, and accounts payable and receivable capabilities. FreshBooks includes the ability to track sales tax and generate summary reports.
How Does FreshBooks Work?
Following a free 30-day trial, you can choose from one of the FreshBooks plans; the best choice depends on the size and complexity of your business. Account creation can be aided via a support page, and video seminars explain how to utilise the software and its bookkeeping capabilities. Charts on the primary dashboard summarise bills, profit and loss, revenue streams, and spending. FreshBooks also includes an iOS and Android app.
Why Is FreshBooks the One of the Best Software For Creating Invoices?
FreshBooks provides a comprehensive set of tools for your invoices that make it simple to create, distribute, and monitor bills for clients. A new invoice may be created on a single screen, which was not always possible with other products we tested. Furthermore, the modification tools are simple to use, making it simple to design a branded template that puts your firm in the spotlight.
It’s just as simple to send invoices with Freshbooks as it is to collect payments; you may distribute invoices with a single click. You can automate the send and make the invoice recurring for ongoing services so you don’t have to spend time manually producing it month after month. Clients can now pay their invoices directly from the papers online with Freshbooks. Payment streamlining makes it easier to collect what is owed and can reduce the number of days in accounts receivable. If certain clients are sluggish to pay, FreshBooks allows you to effortlessly send reminders and establish late fines.
Usability Of Freshbooks
The FreshBooks dashboard is so simple to use that even the most inexperienced users will have no issue creating and sending invoices. Your dashboard has everything you need, including the ability to track your business spending and time, manage your tasks, and develop proposals to present to prospective clients.
You may arrange for your clients to pay directly through the invoices with FreshBooks Payments, and the double-entry accounting system keeps you organised and ready for tax season. You can provide accountants access to your dashboard, reports, invoices, and costs, as well as other users, access to certain functionalities if you like. If you have staff, you can grant them access to their projects while also tracking their time and extra expenses.
Features Of Freshbooks
A complete review of Freshbooks reveals how its outstanding features set it apart from the other competitors. These features include
#1. Freshbook Invoices
The invoice screen displays your papers exactly as they will appear when you send them, eliminating the need to click a preview button to ensure they look correct. You add new customers, items or services, descriptions, terms, and notes by clicking the appropriate fields.
Invoices and other documents can also be customised to reflect your branding by adding your logo or a photo and modifying the template, font, and accent colour. These customization possibilities are common across accounting software platforms, but FreshBooks excels at them.
#2. Conversion of Estimates and Proposals
FreshBooks converts estimates and proposals to invoices in two clicks, eliminating the need to write new invoices from scratch. You can also duplicate a previous invoice and change the details, which may be quicker than producing a new invoice.
#3. Application for Mobile
When you’re not in the office, use FreshBooks’ mobile app to submit invoices, manage mileage, communicate with clients, and receive notifications and updates on outstanding invoices. The software is available for iOS and Android devices, as well as through any mobile web browser.
#4. Internationally Friendly Instruments
FreshBooks offers several languages and currencies, which is a handy and practical feature if your clients are from other countries. Denmark, England, Estonia, France, Germany, Greece, Italy, the Netherlands, Norway, Portugal, Romania, Spain, and Sweden all have supported languages and currencies.
#5. Integrations
FreshBooks interfaces with over 100 third-party apps, allowing you to add functionality and connect with other business applications. DocuSend for printed invoices, Gusto for payroll, and Everlance for tracking mileage and detecting deductions are among the most beneficial connectors.
#6. Permissions and User Roles
When you add a user to your account, you assign them a role, which governs the features they have access to. Everything except adding and removing apps and connections is available to business partners. Your dashboard, reports, invoices, and costs are all accessible to accountants. Employees can access projects and track their time and other expenses. Contractors have their accounts, and they can only see and monitor their time against the projects you’ve invited them to.
User Experience (UX) – What is it like to use Freshbooks?
Freshbooks is a colourful take on accounting software, with all of your options laid out and the majority of features accessible via a blue side menu. When you log in, you’re greeted with inspirational business quotes before seeing the dashboard above.
As you scroll down this page, you will see the following:
- Outstanding Revenue: Outstanding revenue is shown in yellow, whereas overdue revenue is shown in red.
- Total Profit: Total profit is depicted as a line graph, with profit in green and loss in red.
- Revenue Streams: A donut graphic highlights the sources of your revenue.
- Spending: A donut chart illustrates how much you spend in each category.
- Unbilled Time: A donut chart displays the unbilled time for various clients/projects.
Pricing For Freshbooks
At the time of this FreshBooks review, the company offered three subscription packages as well as a custom pricing alternative for larger organisations that required a customised solution.
These are the packages:
#1. FreshBooks Lite
The pricing for Freshbooks Lite is £11 per month. This is ideal for startups and small businesses that do not require complex capabilities. This subscription includes unlimited invoices for up to 5 clients, unlimited expenses, estimations, and HMCR VAT returns.
#2. FreshBooks Plus
The pricing for Freshbooks Plus is £19 per month. This is designed for small business owners with several clients and includes features such as recurring billing, client retainers, and more.
#3. FreshBooks Premium
The pricing for Freshbooks Premium is £30 per month. This service includes an unlimited number of clients, customised emails, email signature features, business health reports, and other benefits.
The Benefits Of Using Freshbooks
Let’s summarise this FreshBooks review and discuss the main benefits they have to offer as accounting software.
#1. Variety of Features
FreshBooks does more than just manage your books. With features like time tracking, invoicing, projects, and reporting, it’s a terrific all-in-one solution for managing different areas of your business under one roof.
#2. Excellent Value for Money
FreshBooks starting packages are reasonably priced, and the time saved by the capabilities available ensures that you will rapidly recoup your investment.
#3. Designed for Small Enterprises
FreshBooks was founded by a small business owner who saw a need for a solution for other small businesses like his. FreshBooks has kept small businesses in mind at every step of the process, and they have designed a reasonably simple system that is straightforward to get started with, regardless of your accounting background.
#4. Mobile Compatibility
FreshBooks now has a mobile app that allows you to track your accounts and submit invoices while on the road. The app is also useful for snapping images of your receipts while you’re out and about, allowing you to securely store them within the app and eliminating the chance of losing them on the way back to the office.
The Drawbacks of Freshbooks
Now that we’ve covered the positives, let’s take a look at some of FreshBooks’ drawbacks.
#1. Complex User Experience
There are two versions of FreshBooks: the current version and the ‘Classic’ version, which was launched at the inception of the company. Some users believe that the Classic version of FreshBooks is easier to use, and some online tutorials will link to the incorrect version, implying that some features or functionality of the software may be difficult to navigate or difficult to find.
#2. Ideal for Client-facing Businesses
The majority of FreshBooks’ additional features and services are designed for businesses with a large number of clients or projects. Although the time tracking and invoicing functions are useful, they may go underutilised if you are not billing clients for time or specific tasks.
#3. User and Client Restrictions
FreshBooks’ main disadvantages are its user and billable customer limits. The Lite and programmes allow for a maximum of five and fifty clients, respectively. These constraints may not be significant for very small enterprises, but they can make scaling up more expensive.
#4. The Lite Plan Lacks the Fundamentals of Double-entry Bookkeeping
Basics such as bank reconciliation tools and double-entry accounting essentials (such as a general ledger, chart of accounts, and trial balance) are not included in the lowest-tier Lite plan. It also does not permit access to accountants or bookkeepers. Even in their most basic plans, most accounting software providers provide these essential services.
Limitations Of Freshbooks
While FreshBooks excels at time tracking, basic invoicing, and project management, we discovered that it falls short in the following areas during our testing:
#1. Inventory Tracking and Vendor Management
The software lacks the sophisticated inventory tracking and vendor management features present in similarly priced rivals. Business owners with more intricate inventory requirements may also be interested in Xero, which has improved its inventory automation tools.
#2. Batch Invoicing Shortcuts
Another feature that is lacking is batch invoicing shortcuts, which are useful if you need to bill several customers for the same service at the same rate.
#3. Reports on the Go
The FreshBooks mobile app is fantastic for invoicing. It does not, however, generate reports. Which makes it difficult to generate reports on the fly using a mobile browser.
#4. Payments
To receive payments using FreshBooks, you must use third-party integrations with services like Stripe and PayPal, which require you to sign up for extra apps.
#5. Accounts Payable
FreshBooks lacks the extensive vendor network required to be a viable contender in the accounts payable area. Accounts payable processing is an important element of running a business; therefore, small business owners may want to look into one of the finest credit card processing options to supplement FreshBooks.
Customer Service and Support for FreshBooks
When it comes to customer service, Freshbooks stands out positively, and they take each customer’s review to heart. There is a phone number for help, an email form, and a chatbot that can assist you. The phone number for Freshbooks customer service is 866-303-6061. In addition to these sources of assistance, users can access the company’s extensive knowledge base. When you type your query in the chat, you will be guided to articles that will often answer your question without the need for further assistance.
FreshBooks has a high Trustpilot rating, with a good percentage of users evaluating the customer service as five stars. FreshBooks’ website includes an artificial chatbot that can answer simple questions. Prospective clients who have more inquiries might reach out to a salesperson by phone.
How Long Does It Take for FreshBooks Payments to be Processed?
Payment processing can take one to three days, depending on the financial institution, and FreshBooks does not process payments on weekends or holidays.
Is FreshBooks a Bookkeeping Service?
FreshBooks helps you keep track of your income and expenses by automating some bookkeeping processes. The organisation has a collaboration with Bench if you want to completely outsource specific bookkeeping services. The accounting service connects you with bookkeepers who can track your transactions and prepare financial reports on your behalf.
How Does FreshBooks Stack Up Against QuickBooks, According To Review?
Unlike QuickBooks Online, all FreshBooks plans allow you to manage time and billable expenses. Whereas FreshBooks is best suited for freelancers and small businesses that conduct the majority of their transactions through invoices, QuickBooks Online is a more sophisticated tool that can support rapidly developing small businesses.
How Do I Receive Payment from FreshBooks?
For a modest fee, the payment is processed and put into your bank account. The entire procedure should take about 2 business days, and if you use FreshBooks Payments, all transaction fees are automatically documented as expenses in your account.
Is FreshBooks Used by PayPal?
PayPal can also be accessed from the FreshBooks iOS or FreshBooks Android apps. This makes accepting different currencies on your invoices from anywhere in the world easier.
Conclusion
Accounting software packages abound, and different small firms will necessitate different software. FreshBooks is simple to use and set up. It offers various capabilities that will benefit some organisations, such as time, distance, and assigning expenses to clients.
As with any software purchase, it is usually worthwhile to spend time examining the company requirements and determining if the program is a good fit. Take your time and make use of the provided trial. Freshbooks takes every review made by their customers as a testament to their excellence.
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- What is a Timesheet? A Definitive Guide for Your Business
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