FreshBooks Review: Is This Accounting Software Pricing Worth It?
What started as a simple invoicing solution evolved into a full-featured, double-entry, online accounting app for small businesses.
We're talking about the FreshBooks accounting software that's praised for its user-friendly interface, generous set of features (including, yes, invoicing), and exceptional customer service.
In this FreshBooks review, we'll go over the basics of the software and focus on the key features, the main pros and cons, and reviews from real customers.
At the end, you’ll be in a good position to ask: Is it well-suited for my business?
FreshBooks review 2022: Is FreshBooks accounting software any good?
After writing this new FreshBooks review, we can confidently say that FreshBooks is a fantastic centralized accounting solution for freelancers, sole proprietors, and small companies. It has great ease of use and a variety of features, like estimates and proposals, tracking project time, invoicing, and payment collection.
Additionally, you can reconcile all income and expenses and easily run detailed reports on where your money is coming from and going. All in all, Freshbooks can significantly reduce your time on mundane administrative tasks and make working with clients much easier.
It’s one possible answer to the question: what is the best accounting software for small business needs? Read on and we’ll get into the weeds about pricing, functionality, and all the other things you’d need to know.
FreshBooks pricing plans
First of all, how much does FreshBooks cost? Let’s first review FreshBooks prices:
How much does FreshBooks cost per month for nonprofits?
If you're wondering "how much is Freshbooks per month for nonprofits," the company does offer discounts for organizations of this type. In short, what Freshbooks does is it gives you the price of the tier below.
For example, let's say you want to subscribe to the Plus plan that costs $25/month. Instead of paying $25/month, you'll be paying as if you were using the lower-tier plan ($15/month), but you'll have access to all the features of the higher plan.
Are there any FreshBooks coupon codes or promo discount vouchers?
We did the research, and it seems there are no FreshBooks coupon codes or discount vouchers at this time.
FreshBooks overview: what is FreshBooks & what is FreshBooks used for?
Freshbooks is a cloud-based accounting software for freelancers, solopreneurs, and small businesses. The software comes packed with features for creating and sending invoices, managing clients and projects, tracking billable time, and accepting online payments.
The software is even available for iOS and Android, which makes it easier to work on the go.
There are four paid plans you can opt for, ranging from $15 per month to $50+. If you go with an annual subscription, you'll get a 10% discount.
All in all, Freshbooks offers an excellent user experience, which makes it a top choice for newbies and non-tech-savvy users. Another thing that makes Freshbooks a great software is that it adheres to the rules of double-entry accounting. It supports structured record keeping, allowing you to have improved insight into your finances.
FreshBooks free vs paid: what’s the difference?
Unfortunately, Freshbooks doesn’t have a free plan. But you can unlock all features for 30 days to see if the software is a good fit for you.
If you’re happy with the software, you can subscribe to one of the four paid plans that range from $15/month to $50+. All plans except for the Select support only one team member. The good news is that you can add an additional member for $10/month.
The lowest tier plan comes with all the basic features for self-employed professionals. This plan lets you add up to five billable clients and create an unlimited number of invoices and expense entries. Other features include time tracking, online credit card payments, tax reports, mobile mileage tracking, and more.
The Plus plan is suitable for small businesses. It includes all features from the Lite plan, plus unlimited proposals, double-entry accounting reports, client retainers, and it covers up to 50 billable clients.
The Premium plan is best for growing businesses as it comes with more advanced features like unlimited billable clients, customized email templates and signatures, and project profitability.
The Select plan is the most expensive plan, but you'll have to get in touch with the sales team to get a quote. This plan includes dedicated support, lower credit card transaction rates, access for two team members, and customized training.
FreshBooks features list
The main features of FreshBooks are:
Estimates and proposals
Accounting and reports
1. FreshBooks invoicing
Creating and sending invoices is one of the key features of FreshBooks. The invoicing software lets you create a professional-looking invoice with a click of a button. Simply add an existing client you’ll be sending the invoice to and customize different sections, like due date, company information, date of issue, and more. There are two basic invoice templates that you can customize by changing the colors, font, logo, and header. Invoices can also have terms, notes, and attachments. If you’re a Plus or Premium user, you’ll be able to send payment reminders, charge late fees, and set recurring invoices.
2. Time tracking
Time tracking is another feature of the FreshBooks software, and the best thing is that the feature is available on all plans. You can track time with the timer or log time manually and choose whether you want to track time by duration in hours and minutes or by start and end time. You can track time by client or by project, add services, notes, due dates, and more. Your tracked time can be added to a project and converted into an invoice.
FreshBooks helps you keep track of your spending with a feature called Expenses. This expense tracking functionality can be helpful if you need to document business-related expenses for your business and for tax deduction purposes. You can create and edit expenses, create expense reports, and set recurring expenses that will be generated automatically on a frequent basis. The software lets you upload receipts and track business expenses in different currencies. You can always go back and edit an expense.
FreshBooks has a neat feature called Clients where you can add, manage, and delete your clients. You can create client profiles containing information like contact details, every invoice you've sent to that client, and every communication you've exchanged for easy reference. You can even add secondary contacts in each client profile to send to multiple contacts in one company. Client profiles can also have internal notes so that you remember even the tiniest details. Any payments that a client owes you will appear here.
The Payments section lets you view all the invoice payments you've received in a single place. You can add, edit, and delete invoice payments right from here. There are several payment options, including advanced payments.
You can accept online customer payments using FreshBooks' own payment function, WePay. Using this service will cost you 2.9% plus 30 cents per transaction. Additionally, you can accept payments through Stripe and Paypal.
FreshBooks might not be a project management software, but it comes with a neat feature called Projects that helps you collaborate with clients and team members. You can assign projects to clients, create flat rate or hourly projects, and customize your projects as you see fit. Every project can have a name, description, end date, associated client, project members, and more. You can collaborate on any project by sharing files, attachments, or comments. Additionally, you can see all time tracked from you and your team members and all invoices and expenses associated with a specific project.
7. Estimates and proposals
Estimates let you create and send an outline of the service you’ll provide and the cost for a client to approve. Once the client approves the estimate, you can begin your work. You can even convert estimates into invoices to collect payment. Proposals are a detailed version of an estimate that outline a project’s scope, timeline, and deliverables. Proposals can be approved and signed online so you can get down to work faster. FreshBooks supports e-signatures.
8. Accounting and reports
The Accounting and the Reports feature gives you insight into the health of your business. The General Ledger feature is where you can get a complete record of all financial accounts and transactions so that you can keep track of every dollar you’re making and spending. You can give your accountant access to specific financial reports in your account. The Profit and Loss report gives you an overview of your income and expenses to see the profitability of your business. The software can even determine how much you owe the government in sales taxes.
FreshBooks integrates with 100+ third-party apps so that you can add functionality to your account and business. Some popular integrations include Gusto, Hubspot CRM, SquareSpace, Zapier, Gmail, Microsoft Outlook, Slack, and Zendesk. API is available for developers.
FreshBooks pros and cons
Here are the advantages and disadvantages of FreshBooks:
Intuitive and easy to use: FreshBooks has an intuitive interface that’s easy to navigate. The company has been coming up with regular navigational updates to improve usability. Even if you have no previous experience with accounting software, you’ll have no difficulty finding your way around the system. It won’t take you more than a day or two to learn the basics and start sending your first invoices.
Affordable monthly plans: The cheapest paid plan starts at only $15/month. You can have up to five billable clients and basic features like unlimited expenses, unlimited estimates, online payments, and reports. You may never need to upgrade to a higher-paid plan if you're a freelancer or an independent contractor. Smaller and growing companies can subscribe to the Plus or Premium plan, which stands at $25 and $50 per month, respectively.
Double-entry accounting reports feature: FreshBooks follows the rules of double-entry accounting, a popular bookkeeping method that many accountants and small businesses use. The double-entry system can help keep your accounts in balance, avoid errors, and produce accurate financial statements.
All critical features like time tracking and unlimited invoices are included in all plans: All Freshbooks plans include important features like time tracking and unlimited invoices. The good thing is that you don’t have to pay for a third-party time-tracking app. Other features that are included in each plan include recurring invoices, unlimited estimates, customized invoices, online credit card payments, online ACH bank transfers, and more.
Not tailored for larger businesses: FreshBooks comes with all the basic accounting features small businesses need and an intuitive design that makes it a top pick for newbies. However, it falls short when it comes to customization features and flexibility. For bigger companies that need more advanced features, a software like Quickbooks might be more appropriate.
Adding additional team members can get expensive: FreshBooks is best suited for small businesses with one main user. All paid plans come with one single user, except for the Select plan, which lets you have two. If you want to add an additional user, you can definitely do so, but FreshBooks will charge you $10 per additional user per month. This might not be expensive for growing businesses, but it might not be cost-effective for solopreneurs and smaller businesses.
FreshBooks complaints & praise (from real FreshBooks customer reviews)
FreshBooks receives predominantly positive reviews from its customers. In many reviews of FreshBooks, users praise the software's ease of use and simplicity. They say there's a minimal learning curve for new users, which makes the software a top pick for less tech-savvy individuals and those that don't have an accounting background. They even say the exceptional ease of use makes them feel like accounting pros.
Another aspect of FreshBooks that gets plenty of positive feedback is customer support. Users say how you can get in touch with technical support after two rings, and you'll never be put on hold or transferred from one agent to another.
Users also seem to love the Freshbooks mobile app for iOS and Android that supports work on the go. They say the mobile apps are very helpful when a client has a question, and you don't have immediate access to your desktop.
Many other reviews talk about how FreshBooks has saved users hundreds of hours. They say the software makes it easy for them to create, send, and keep track of invoices, and also convenient for clients to pay online via credit card or bank transfer.
Negative FreshBooks reviews are more scarce. Some users say the time tracker can be a bit buggy, and others want to see more functionality on the mobile apps. Other users have concerns about the pricing options. They complain the software can get expensive fast if you want to store client data or want to use add-ons.
Review of FreshBooks software support
Users often praise FreshBooks for its exceptional customer service. There are a few ways to get in touch with a customer support rep, including chat, email, and phone. Phone support is available Monday-Friday from 8 am to 8 pm Eastern time. Emails are responded to quickly, and you can chat with live specialists if you have any questions or concerns.
Additionally, there's a help center that contains how-to articles and a list of FAQs. And if you want to learn more about the software, you can watch the on-demand webinars. Another perk is that FreshBooks also offers in-app help that walks you through all the features of the software and the best ways to use them.
Is FreshBooks worth it? Our conclusion
Yes, FreshBooks is a great QuickBooks alternative and a fantastic tool with exceptional ease of use and customer support.
But is Freshbooks worth it? Is it the right pick for your business?
FreshBooks is a good fit for freelancers, independent contractors, and small business owners that need a simple, no-fuss solution for managing their day-to-day business. For small business accounting, it’s a great way to automate routine tasks, deal with cash flow and get your balance sheet in order.
However, if you're a larger team and want more customization options, or you need to have more than one person on the account, you may want to consider more robust accounting solutions.
Here's our most honest tip: take advantage of the 30-day free trial to familiarize yourself with the software and check if it's what you need for your business. You may be surprised at how much time it saves you and how easy it is to set up even if you don't know anything about bookkeeping.
Additionally, there are some good FreshBooks alternatives like Xero and ZipBooks out there, among others. Comparison shopping never hurts.
Is there a FreshBooks trial?
Yes, FreshBooks has a 30-day free trial that lets you try out any plan type. Create an account and you’ll be taken to the software’s homepage. No credit card or banking information required, cancel anytime. Once the trial expires, you can subscribe to one of the four paid plans.