All types of online accounting software are designed to make life easier for freelancers and entrepreneurs running a small business. However, with that in mind FreshBooks takes it a whole other level. FreshBooks is arguably the easiest to use of all the top rated online accounting software. The user experience is exceptional and nothing is too complex to understand, even for small businesses that are not too familiar with operating computer programs or apps.

Pros

• Extremely easy to use online software program with intuitive interface and features.
• Automatically sync data and updates for a collaboration of contributors.
• Manage multiple businesses under one FreshBooks account.
• FreshBooks is constantly updating the online accounting software with new features.

Cons

• No inventory tracking makes it less suitable for mid-size to large businesses that need it with online accounting software
• Customer records are sufficient, but not as detailed as other programs like QuickBooks

Features

FreshBooks is advertised as “ridiculously easy to use” which is a bold, yet appropriate statement for the online accounting software. FreshBooks offers one of the easiest to use accounting programs, with a dashboard that not only presents helpful information and data but also serves as access points to all functions of the online accounting software.

The simple to use software equals less time hassling over paperwork and tax prep, and more time focused on improving small business efficiency or productivity. Like any quality online accounting software, FreshBooks features professional looking invoices to help your small business look the part. The invoices take moments to make, allowing you to get paid sooner.

Along with high quality invoices, FreshBooks also automizes expenses, time tracking, and other aspects of accounting. All important data is stored in the cloud with security measures to keep the data protected. All relevant accounting data is accessible from desktop, smartphone, or tablet.

One of the top features of new online accounting software like FreshBooks is the opportunity to remove clutter. Unlike twenty years ago, you do not need to stash boxes or files full of receipts. Instead, everything can be scanned and tracked digitally. Tracking expenses on FreshBooks is a breeze.

FreshBooks features instant time tracking so you or your team members can log hours directly through the online accounting software. Thanks to time tracking, all of the hours are automatically transferred to invoices so you can keep track of what you or someone else is owed.

Help maximize time and efficiency by delegating tasks through Freshbooks. Thanks to the intuitive collaboration feature, entrepreneurs may manage all conversations, files and feedback in one place. Furthermore, everything is synced so multiple collaborators can get the most up-to-date information.

FreshBooks works with your bank accounts to get paid faster. The app promises to deliver payments up to 11 days sooner when credit cards are accepted through FreshBooks. The automatic deposits are a nice feature as they remove a lot of stress and worry.

The app also features reports that are presented to measure performance. The reports are easy to understand, and help take your small business to the next level.

Like Xero, FreshBooks features a mobile app version so you can track invoices and payments on the move. It’s a nice luxury in the on-demand, time sensitive generation that we live in. The mobile app provides updates on when payments are received and also captures expenses. You can even send invoices from your smartphone with FreshBooks.

Pricing

Freshbooks features three different options to select from in regards to price.

Lite Version ($15 per month)

• The Lite plan provides unlimited invoices and estimates
• Time tracking and expenses
• Accepts online credit card payments
• Automatically import expenses from a bank account
• Supports up to 5 clients
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Plus Version ($25 per month)

• The same features of the Lite version, plus 50 clients
• Double-Entry Accounting Reports & Tools
• Payment reminders
• Late fees for overdue invoices
• Scheduling Recurring Invoices
• Collaboration with the account

Premium Version ($50 per month)

• The same features as the Lite and Plus versions, plus room for 500 clients
• Adjusting general ledger with journal entries
• Sending proposals
• Logging additional income and unique items

All plans feature a free trial so you can try the subscription out before locking into a monthly rate.

Is Freshbooks appropriate for small business?

FreshBooks may not be the most appropriate option for mid-size businesses or larger operations because it lacks inventory tracking, but overall you couldn’t find a better option for sole proprietors or small businesses. FreshBooks has been popular with freelancers for some time because the online accounting software acts like an entire accounting team for entrepreneurs that can’t afford to staff a physical one. The number of features for the price paid is terrific.