FreshBooks is an award-winning finance & accounting software and one of the best cloud solutions for small business owners. Freshbooks is popular among businesses for streamlining client invoicing and time tracking processes.
FreshBooks products are geared mainly toward small to medium-sized businesses and offer cloud-based accounting applications that send invoices to clients to bill for time and expertise. The company was founded in 2003 and is based in Toronto, Ontario, Canada.
2. Freshbooks
FreshBooks is an award-winning finance & accounting software and one of the best cloud solutions
for small business owners. Freshbooks is popular among businesses for streamlining client invoicing
and time tracking processes.
FreshBooks products are geared mainly toward small to medium-sized businesses and offer cloud-
based accounting applications that send invoices to clients to bill for time and expertise. The
company was founded in 2003 and is based in Toronto, Ontario, Canada.
3. Origin
The company was founded in 2003 by Mike McDerment and Joe Sawada.
The company traces its origins to McDerment losing an invoice record by overwriting in 2003 and
sought a new way to manage the accounting for his own business. The product was first named
2ndsite. The company rebranded the product in 2006 as FreshBooks.
4. Freshbooks is basically a software or app which
tells you that where your business in financially
stands.
5. Features of Freshbooks
Issuing and managing invoices.
Automatic recording of the invoice payments.
Tracking and managing expenses.
Tracking the time spent on projects.
Managing your projects.
Sending the estimates of your pricing.
Accepting credit card payments.
Generating financial/accounting reports.
Managing your accounting using a mobile app.
6. Freshbooks Dashboard overview
In outstanding revenues all of your customers have still owe your money and haven’t pay it yet so you
can check it in outstanding revenues.
Total profits tell you your all profits month to moth or quarterly.
Spending tell you your expenditures month to month or all expenditures from the start of the
business
Advances reports show you the profit/loss reports, invoicing reports, expenses reports which gives
you deeper inside of your business,
9. Invoicing Overview
In invoicing you add all the information of the customer, date, customized invoice number, due date
and also you have credit card acceptance facility. in which you can choose to options of payment.
which are,
Freshbooks payment
Stripe
You can also have a option of customized invoice style.
11. Payment Process Overview
It accepts the tradition way like cash, debit cards and cheques and in 2017 it introduced the
features of credits cards. in which you can choose to options of payment. which are,
Freshbooks payment
Stripe
They both have same processing fees which is 3.5% + $0.30 per transaction. But according to
customers review stripe is gives you more customization and well managed.
14. Expense Tracking Overview
In expense tracking you have all the information of your expenditures and in freshbooks it all
completely automated, all you can do is simply connect your banking credit card accounts and all the
expenses are imported to your freshbooks software. Freshbooks support 14000 financial institutions
so it’s a good chance your account will be supported in Canada and US.
17. Project management Overview
Freshbooks has project management feature built-in in your accounting platform it allows you to keep
tracking your employees and business contractors and better collaborate with them. From this you can
automatically turn the hours of working on a project into invoices and also freshbooks gives you the
collaboration tool from which you can enter messages and share documents to your employees and
clients.
20. Time Tracking Overview
It allows you to track all the time which you spend working for clients and also it allows you to
share that time with your clients so that they know exactly what they paying for. After you
recorded the you just generate invoice and send it off to your client.
22. Mobile App Overview
Freshbooks has its own dedicated mobile app and it gives the all destop version facilities other
than the reports that you cannot generate the reports from the mobile app but everything else
invoicing, expenses, recording payments and tracking and importing expenses can all be done from
your mobile app both in android and ios.
24. Pricing Overview
Freshbooks has three tier subscription plans. Each of these plans contain all the
features they don’t lock away the features. These plans bases on how many
clients you have. So for the lite package you can only add 5 clients which cost is
$15, for plus package you can add 50 clients and which cost is $25 and for
premium package you can add 500 clients which cost is $50. Freshbooks also
offers full 30 day free trial.