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FreshBooks Review: Features, Pros and Cons, And Pricing 2024
Overview
FreshBooks is an accounting software that makes it easy for small businesses to track their finances and pay their invoices on time. It is designed exclusively for freelancers and growing service-based business owners.
FreshBooks Founder and CEO Mike McDerment established FreshBooks in 2003. He was inspired by an accident he had when he saved an invoice and lost his work. Growing FreshBooks from his parent’s basement, he has since used it to save time billing and collect billions of dollars for over 30 million people worldwide.
- Established: 2003
- Founders: Mike McDerment, Levi Cooperman, and Joe Sawada
- Offices: Australia, Europe, Germany, United Kingdom, United States, Canada (Headquarters)
FreshBooks Buyer Guide
Bookkeeping can be confusing and overwhelming for new business owners without an accounting background. FreshBooks helps businesses handle all their accounting burdens in an easy-to-use, professional manner.
Price-wise, FreshBooks is among the more affordable accounting software options. The Lite program costs only $19 monthly, and users get 50% off the annual price for the first three months. This means that the Lite plan initially costs only $9.50 per month. The Plus and Premium plans cost $16.50 and $30.00 per month, respectively, during the same time frame.
In addition, the platform offers a free 30-day trial. This gives you ample time to determine whether it will suit your business needs.
Pros and Cons
Pros
- Affordable and accessible for freelancers, sole proprietors, and small businesses.
- All plans include time tracking, adding billable hours, and billable expenses to invoices.
- Good customer support
- Mobile app provides effective client communication
Cons
- Extra cost per month to add an additional team member
- Inaccessible audit trail, regardless of plan.
- Limited Functionality – fewer customization options than other software
FreshBooks Features
Pricing Information
Summary
Pricing starts at $9.50/mo
Free trial available (30-Days free trial)
Pricing Comparison Table
| Features | Lite | Plus | Premium |
| Starting Price | $9.50/month | $16.50/month | $30/month |
| Track and Organise Client Info. | Five clients Client Profiles and Account Statements Clients Can Store Credit Card Info Client Account Portal Client Credit | 50 clients | Unlimited Customized Email Templates and Signatures Automated Client Emails with Dynamic Fields |
| Billing Solutions | Unlimited Estimates Accept e-Signatures Unlimited + Customised Invoices Automated Recurring Invoices Scheduled Late Fees Automated Late Payment Reminders Accept Deposits Manage Budget and Billing for Projects | Unlimited Proposals Client Retainers | |
| Business Management | Unlimited Time-Tracking Unlimited Expenses Automated Bank Import Mobile Mileage Tracking Tax Time Reports Business Health Reports At-A-Glance Performance Dashboards | Double-Entry Accounting Reports Bank Reconciliation Accountant Access Automatic Expense Receipt Data Capture Email Receipts Right to Your Account | Automatic Bill Receipt Data Capture Project Profitability Accounts Payable |
| Client Payment Options | Online Credit Card Payments Online Bank Transfers (ACH) Checkout Links Get You Paid Without Invoicing |
Alternatives to FreshBooks software
- QuickBooks Desktop Pro
- Xero
- NetSuite
- Wave
- Zoho Books
- BigTime
- QuickBooks Desktop Enterprise
- BQE CORE
Frequently Asked Questions
What are the most important features of FreshBooks?
FreshBooks has Accounting and taxes, Client Communication, and Billing features that help businesses with tax filing, time tracking, analytics, and financial reporting.
Does FreshBooks work on all devices?
FreshBooks software works on all devices (phone, desktop computer, laptop, or tablet) in any web browser. It also has a mobile app for iOS and Android.
Who is FreshBooks for?
FreshBooks is primarily for Freelancers and medium-sized and small businesses that do most of their transactions by invoice.