FreshBooks Cloud Accounting Review

Freshbooks Online Billing AccountingFreshBooks is one of the most popular online cloud accounting programs available right now.  It started out as invoicing software – and it revolutionized the invoicing industry by integrating payment directly into it’s online service, and having a myriad of other features.  I know that I originally interacted with FreshBooks Cloud Accounting as a customer, as one of my vendors invoiced me using it.  I found it pretty slick and easy to use as a customer, so I wanted to try it out myself.

FreshBooks has since added a full accounting suite to it’s product, and allows you to track both income and expenses.  It also let’s you connect your accounts to FreshBooks and it will import your transactions for your categorization.

 

Key Features

The great thing about FreshBooks is how easy it is to use.  The interface is clean and easy to find everything you need.  The main dashboard when you log in has all of your key income and expense statistics for quick reference.

FreshBooks distinguishes itself by it’s billing features.  It was originally designed as an invoicing program, and that is still where it excels. With invoices, you can track time and import expenses quickly and easily.

Just like any other accounting software program, FreshBooks allows you to:

  • Track Income
  • Track Expenses (including connecting to your bank accounts)
  • Track Time
  • Customized Invoicing
  • Recurring Invoices and Auto-Payments
  • Team Timesheets
  • Different Rates for a Project
  • Easy Reporting: Profit and Loss, Balance Sheet, Expense Reports, Sales Tax, and More

 

Pricing Options

FreshBooks offers a range of different pricing options.  It offers a free package that allows you to keep track of 3 clients.  The free version also doesn’t allow you to customize invoices (i.e. you have to use the generic FreshBooks invoices).

Here’s a breakdown of the pricing options:

  • Free: 3 Clients, FreshBooks Branding
  • $19.95/mo: 25 Clients, Automatic Expense Import From Bank Account
  • $29.95/mo: Unlimited Clients
  • $39.95/mo: Team Timesheets and Team Sharing Options

 

My Thoughts

I think FreshBooks is a great solution, but the price is what holds me back.  I have up to 20 clients a month in my business, so I would have to spring for the $19.95/mo plan, which ends up being almost $240 per year.  I find that amount to be a little excessive for my business right now.  Especially since my average invoice is only around $100.  However, if you do a lot of invoicing and want a more automated solution, FreshBooks can be a great choice.

I highly suggest you try out the free version and see if it is something that works for you.  Also, if you aren’t sure, check out the other cloud based accounting software options.

 

User Reviews

Let me open this up to you to leave a review and tell us what you think about FreshBooks Cloud Accounting Software.

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.