FreshBooks is cloud-based accounting software founded in 2003. This software aims at catering people and businesses with small-clients and those exercising operations on a small scale. This fast growing software is very easy to use and helps to send invoices to your clients or even save them for later use. It lets you see recent invoices that have been sent or are being processed or paid right now.
Some of the major features offered by FreshBooks are explained as follows:
- Online Invoicing: The main feature offered by FreshBooks is that it allows you to enter the name of your clients and help you generate invoices for them. All this happens online without any application. Everything can be done by visiting the web portal www.FreshBooks.com. This helps the fast growing small scale enterprises to keep track of their invoices and make sure they are delivered in time.
- Time Tracking: Alongside delivery of invoices it even keep full track of your invoices and check whether they are paid or not. It can be connected to your PayPal, Authorize.net, Google Checkout and iTransact account. With this whenever your clients make payment of the invoice it is automatically synced and that invoice will be marked as paid.
- Late Payment Reminders: The software offers you reminders for any invoice defaulter or late payer. You can set up the specified time interval for each payment and receive all the late payment reminders.
- Recurring Invoices & Automatic Payment: If your client does not pays you within the specified time interval. FreshBooks automatically alerts you and helps to regenerate or resend another invoice to him. However once can also set an automatic interval of 30 days or 45 days.
- Expense tracking: FreshBooks helps you to track and manage expenses. You can make different expense records and store necessary information with it like amount, date, vendor, and category. A great feature offered by FreshBooks is that it helps you to assign up to two levels of sales tax, allot the expense to a client, make it recurring and attach an image of the receipt. An invoice can be created for one or two expenses claims.
- Accounting Reports: FreshBooks offers you with a lot of reports and statements with which you can make a clear analysis of all the transactions and invoices you have. The software offers some reports such as:-
- Invoice reports: This tells about the items that are sold and the revenue generated from a specific client.
- Client reports: This tells you about your invoice history with this client and revenue generated from this client until now.
- Accounting reports: This tells you about the complete tax summary and observes the situation of the business and creates a profit and loss statement and further provides you with the balance sheet. All this helps you to make critical analysis of your business position
- Time-tracking reports: This tells about the tasks that are invoiced and the estimate bills that will be made.
- Team Timesheets: FreshBooks helps you create very basic and simple project records that contain the project name, client name, billing method, staff rate, project rate, etc. and also enables you to make an estimate of the number of hours that will be required. After which you can select team members and assign them tasks and also store information such as name, rate, and billable status for each and every project. All this information will be accessible to you. You need to make time entries for you and your team i.e. at what intervals you’ve designated and if you’ll be able to convert those time entries into invoices. You can track time on projects and know if you’re spending too much time on one thing. It even enables you to set up a timesheet and keep track of work done by you and your employees. There are many internal and mobile timers to help with this effort.
- Mobile Apps: FreshBooks now is available in app format on Iphone, Ipad. While the BlackBerry users can use ReportAway! For FreshBooks. FreshBooks is on the way of universal compatibility by making itself compatible with Clientspot, Basecam, Autotask and Deskaway. Thus, with upcoming of FreshBooks on all these tools, it has now become possible to access your FreshBooks from anywhere.
- Attach Receipts (PDF or Image): FreshBooks helps you to upload and attach receipts of any invoices. This makes even the hardcopies of bill accountable as they are now converted in the e-format.
FreshBooks offer four different types of plans to its users. This can be cleared with the help of table given below:
|Types of Plans||Free Plan||Seedling Plan||Evergreen Plan||Mighty Oak plan|
|Number of Invoices||Unlimited invoices can be sent||Unlimited invoices can be sent||Unlimited invoices can be sent||Unlimited invoices can be sent|
|Number of Clients that can be managed||Three clients can be added upto maximum||Twenty five clients can be managed upto maximum||Unlimited Clients can be managed||Unlimited Clients can be managed|
|Price||Nil||$19.95 per month||$29.95 per month||$39.95 per month|
- Free: This package allows you to send unlimited invoices but only to 3 clients and all the invoices would be branded with FreshBooks.
- Seedling: This package allows you to manage 25 clients and send unlimited invoices. But the best feature is that your invoices are no longer branded with the tag of FreshBooks
- Evergreen: This package also helps you to receive extra discount when you book it for whole year. This enables you to manage unlimited client and send the unlimited amount of invoices that are not branded by FreshBooks.
- Mighty Oak: The most advanced and superior plan that is offered by FreshBooks allow you to add a staff member to your account and also manage permissions for that staff member. There is a fixed cost of $10 for every additional staff member that is added to your account. As you now work as a team this plan offers you with many tools like the project manager designation and team expense reporting.