Quick info about FreshBooksBeginning worth: $19/month. Key options:
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Our star score: 4.1 out of 5
FreshBooks is an accounting, invoicing and billing software program program designed for small companies. All pricing plans help limitless invoices, estimates and expense monitoring, in contrast to some opponents that cap the variety of invoices. The software program does provide fundamental accounting options like receipt scanning and fundamental experiences, however invoicing and billing are the place it actually shines. Companies with extra advanced accounting wants may have to take a look at FreshBooks opponents resembling QuickBooks.
On this article, I evaluation FreshBooks’ execs and cons, discover its most essential options and advocate comparable accounting software program merchandise that would give you the results you want if FreshBooks doesn’t.
FreshBooks’ pricing
FreshBooks provides 4 pricing plans. The primary three plans have clear pricing and are designed to satisfy the wants of freelancers and small and midsize companies. FreshBooks has an enterprise-level plan with customizable pricing and options, so that you’ll need to contact the gross sales crew for a pricing quote.
All FreshBooks plans include a 30-day free trial, which doesn’t require a bank card. FreshBooks runs frequent gross sales that lock in deep reductions in your first six months; nonetheless, you could select between the introductory low cost and the free trial — you possibly can’t have each. That being stated, FreshBooks’ 30-day money-back assure ensures you received’t need to pay for the total six months for those who resolve FreshBooks doesn’t give you the results you want inside that first month.
| Plan particulars are updated as of 6/14/2024. | ||||
FreshBooks Lite
Worth: Begins at $19 per thirty days
True to its title, the FreshBooks Lite plan provides fundamental options which can be centered on invoicing. With this plan, you possibly can ship limitless invoices and estimates to as much as 5 purchasers. You possibly can monitor limitless estimates, however this plan doesn’t help cell receipt seize. You will get paid by way of credit score and ACH financial institution transfers and run experiences at tax time, however that’s about it. When you want extra options or wish to invoice extra purchasers, you’ll need to improve to the Plus plan.
FreshBooks Plus
Worth: Begins at $33 per thirty days
The FreshBooks Plus plan allows you to bill as much as 50 purchasers per thirty days. This plan consists of all the things in Lite, plus the power to arrange recurring invoices and purchasers, routinely seize receipts and run monetary and accounting experiences. With this plan, it is possible for you to to ask your accountant to the platform, which will probably be a giant assist come tax time.
FreshBooks Premium
Worth: Begins at $60 per thirty days
The FreshBooks Premium plan lets you ship limitless invoices to limitless purchasers, making it an acceptable alternative for midsize companies. This plan consists of all the things in Plus, along with computerized invoice seize, customizable electronic mail templates with dynamic fields and mission profitability monitoring.
FreshBooks Choose
Worth: Customized pricing solely
FreshBooks Choose is designed for bigger companies and enterprises. You will need to contact the gross sales crew for a customized pricing quote. This plan consists of all the things in Premium, plus entry to decrease transaction charges, the power to take away FreshBooks branding from emails and a devoted quantity for unique help. This plan consists of two crew seats as a substitute of only one.
Further charges
FreshBooks customers can add the next options for a payment:
- Further customers for $11 per individual per thirty days.
- Superior fee acceptance for $20 per thirty days (included with Choose plan).
FreshBooks’s key options
Limitless invoicing and estimates
Each FreshBooks plan consists of limitless invoices — this units it other than Xero’s most cost-effective plan, which limits customers to sending solely 20 invoices a month. There are two templates to select from, two fonts and a handful of colours. Personally, I might like to see extra choices than this restricted choice to permit for higher customization, however it can suffice for many small companies.
The method to create and ship an estimate is equally easy, and you’ll convert it to an bill with a single click on after the shopper approves it. Further invoicing options embrace computerized recurring invoices, computerized late charges for overdue invoices and automatic upcoming-payment reminders.
Expense monitoring and categorization
FreshBooks syncs with greater than 14,000 monetary establishments and routinely imports your information by a safe 128-bit SSL encryption. You add your bills or seize them utilizing the cell app, then assign them to purchasers and connect them to invoices for reimbursement. The software program will routinely categorize bills to easily tax write-offs.
FreshBooks not too long ago launched a brand new function known as Journal Entries, which lets you monitor transactions outdoors of Invoices and Bills, resembling depreciation or loans. You will need to allow Superior Accounting so as to have the ability to entry the Journal Entries function, so I solely advocate utilizing it for those who’re acquainted with barely extra advanced accounting options.
Time monitoring
FreshBooks provides a local time-tracking function so you possibly can monitor billable hours and add line objects to invoices. I discovered the timer very straightforward and intuitive to function, and including a time entry after the very fact was tremendous fast. All I needed to do was select the shopper, choose the date and add the service I used to be engaged on and the date I carried out the work.
While you’re able to invoice your shopper, hit the massive inexperienced Generate Bill, and FreshBooks will stroll you thru the method. You possibly can add time entries as line objects proper from the invoicing instrument. As an employer, you possibly can type hours labored by shopper, crew member, date and mission to see how work time is being spent.
I like that FreshBooks provides this native time-tracking function, in contrast to many opponents that depend on third-party integrations. Nonetheless, the timer is fairly easy and doesn’t help superior time monitoring like coming into explicit billing codes for particular person jobs.
Fee acceptance
When you’ve despatched the bill, purchasers pays you certainly one of 3 ways: FreshBooks funds, Stripe and PayPal. All of those strategies cost a regular payment of two.9% + $0.30 per transaction for many playing cards and 1% for direct financial institution ACH transfers. Subscribers to the FreshBooks Choose plan will get even decrease transaction charges, however FreshBooks doesn’t disclose what that diminished fee is.
The non-obligatory Superior Funds add-ons let your online business settle for bank card funds over the telephone. It prices $20 per thirty days for the three most cost-effective plans and is included on the Choose plan. This function additionally allows you to arrange recurring billing profiles for purchasers you’re employed with commonly.
FreshBooks execs
- Constructed-in time and mission monitoring: All FreshBooks plans include native time and mission monitoring, so you possibly can sync the information straight to your invoices.
- Extremely rated cell accounting apps: With FreshBooks’ iOS and Android apps, customers can create invoices, scan receipts and monitor mileage on the go. The iOS app scores 4.7/5 on the App Retailer, whereas the Android app charges 4.5/5 on Google Play.
- Consumer-friendly interface: Each the cell and internet apps are user-friendly and intuitive, with setup solely taking a couple of minutes.
- Payroll integration: FreshBooks provides an non-obligatory payroll add-on that’s powered by Gusto, some of the well-liked software program choices on the market. You will need to contact the gross sales crew for pricing info.
FreshBooks cons
- Most cost-effective plan limitations: FreshBooks Lite doesn’t embrace free accountant entry, double-entry accounting or financial institution reconciliation, in contrast to many shut opponents.
- Charge for extra customers: Further customers for FreshBooks price an additional $11 per individual per thirty days. For context, Zoho Books prices simply $3 per further person per thirty days.
- Primary stock monitoring solely: FreshBooks has solely fundamental built-in stock administration options, although you possibly can combine it with some third-party integration monitoring software program.
- Restricted scalability: Though FreshBooks provides a customizable plan for larger companies, its streamlined options work a lot better for small and midsize companies. Its comparatively restricted collection of third-party integrations provides much less flexibility for larger corporations.
Options to FreshBooks
Xero: Finest for product-based companies
Our star score: 4.4 out of 5
Beginning worth: $15 per thirty days
Xero’s key options
Xero accounting software program is designed for freelancers and small and midsize enterprise house owners. It provides easy instruments for sending invoices, accepting funds and monitoring funds. It really works with Hubdoc, so you possibly can add payments and receipts for simpler monetary administration.
In contrast to FreshBooks, Xero consists of stock monitoring with each plan. It allows you to add as many customers as you need at no extra price, although every subscription is proscribed to 1 group, so it’s not your best option for enterprise house owners with a number of corporations.
Xero’s execs
- Integration with greater than 1,000 third-party apps.
- Consumer-friendly software program interface and cell app.
- Computerized recurring invoicing.
- Financial institution reconciliation, accountant entry and limitless purchasers in all plans.
Xero’s cons
- Most cost-effective plan limits you to twenty invoices and 5 payments per thirty days.
- Expense and mission monitoring solely accessible in the costliest plan.
- 24/7 help solely accessible by way of reside chat — no phone quantity.
Be taught extra about how FreshBooks and Xero evaluate in our complete evaluation of FreshBooks vs. Xero, and skim our Xero evaluation.
QuickBooks On-line: Finest for rising companies
Our star score: 4.6 out of 5
Beginning worth: $30 per thirty days
QuickBooks On-line’s key options
Intuit QuickBooks On-line is among the hottest accounting software program of all time. Its plans help companies of all sizes, from self-employed freelancers and contractors to enterprises. With QuickBooks, you possibly can monitor bills, ship a vast variety of invoices per thirty days, settle for funds on-line and generate estimates.
QuickBooks On-line has extra bookkeeping and accounting options than FreshBooks, particularly on the upper tier plans. When you’re prepared to pay for them, QuickBooks’ dearer plans provide superior options like invoice administration, mission profitability monitoring and stock administration.
QuickBooks On-line’s execs
- Accountant entry, financial institution reconciliation and double-entry accounting.
- Mileage monitoring, earnings monitoring and tax categorization.
- Extraordinarily scalable plans.
- Superior accounting options accessible.
QuickBooks On-line’s cons
- A lot greater beginning worth than most opponents.
- Variety of customers restricted on every plan.
- Poor customer support repute.
Be taught extra about how QuickBooks On-line and FreshBooks evaluate in our complete evaluation of QuickBooks vs. FreshBooks, and skim our QuickBooks On-line evaluation.
Wave Accounting: Finest free accounting software program
Our star score: 4 out of 5
Beginning worth: $0 per thirty days
Wave’s key options
Wave Accounting is among the solely accounting software program that gives a very free plan. Nonetheless, among the most useful options, resembling computerized financial institution transaction import and cell receipt seize, are restricted to the Professional paid plan, which prices $16 a month.
A lot of Wave’s options overlap with FreshBooks’, together with its customizable invoicing instrument, expense monitoring and on-line fee bills. In contrast to FreshBooks, Wave makes use of double-entry accounting. With Wave’s paid plan, you possibly can add a vast variety of customers and extra totally automate your earnings monitoring.
Wave’s execs
- Free eternally plan accessible.
- Useful accounting app for each iOS and Android.
- Seamless integration with Wave Payroll.
Wave’s cons
- No stock administration, time monitoring or mission monitoring.
- Restricted third-party integrations.
- Much less scalable than opponents.
Be taught extra about how Wave Accounting and FreshBooks evaluate in our complete evaluation of Wave Accounting vs. FreshBooks and take a look at our Wave Accounting evaluation.
Evaluate methodology
To judge FreshBooks, I arrange a free account, considered a demo and created invoices inside the software program as a part of our hands-on check mission. I rigorously thought of person opinions from trusted third-party websites. Options that I prioritized included invoicing, billing, costly monitoring, time monitoring and fee acceptance. I thought of pricing, ease of use and customer support throughout the writing of this evaluation.