Freshbooks Reviews & Pricing

by FreshBooks | Founded 2003, Toronto, Canada

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Overview Pricing Benefits Reviews Features

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What is Freshbooks?

Industry Specialties: Serves all industries

Freshbooks is a cloud-based accounting software designed for freelancers and small businesses. Its core features include invoicing, expense tracking, online payments, project management, and basic reporting. It's user-friendly and integrates with popular tools like Stripe and PayPal. Freshbooks shines for solopreneurs and small teams seeking a simple, affordable solution to manage basic accounting tasks. Its intuitive interface and mobile app make it accessible even for non-accountants. Users appreciate its automated features like recurring invoices and expense categorization, saving them time and effort. Compared to some competitors, Freshbooks may lack advanced accounting functionalities like inventory management or double-entry bookkeeping. However, its focus on simplicity and ease of use makes it a popular choice for those starting out or needing a lightweight accounting solution. Pricing starts at a reasonable monthly fee and scales based on the number of clients and features needed. This pay-as-you-go model ensures users pay only for what they use, making it a cost-effective option for small businesses.

Pros

Easy to use
Mobile app access
Automated invoicing
Online payments
Affordable

Cons

Limited features
No double-entry
Price increases with clients
Basic reporting
Not for large businesses

PRICE

COMPANY SIZE

DEPLOYMENT

PLATFORM

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User Sentiment

Based on 4096 reviews:

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Freshbooks Pricing

Based on our most recent analysis, Freshbooks pricing starts at $5 (Monthly).

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Price: $
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Starting From: $4.50
Pricing Model: Monthly
Free Trial: Yes, Request for Free

Training Resources

Freshbooks is supported with the following types of training:

Documentation
In Person
Live Online
Videos
Webinars

Support

The following support services are available for Freshbooks:

Email
Phone
Chat
FAQ
Forum
Help Desk
Knowledge Base
Tickets
Training
24/7 Live Support

Freshbooks Benefits and Insights

Why use Freshbooks?

Key differentiators & advantages of Freshbooks

Improve Efficiency: Automate every routine task such as sending invoice reminders and collecting payments from patrons so users can redirect their attention to cultivating their organization.
Elaborate Reports: Produce in-depth reports that provide critical KPIs, giving users a live snapshot of their business' health and enabling them to make wiser decisions.
Quicker Payments: Initiate simple online payment methods so patrons can quickly make payments and users are compensated faster.
Establish Due Dates: Swiftly inaugurate due dates for invoices with the invoicing module, ensuring patrons are always aware of their payment deadlines.
E-Sign Estimates and Proposals: Permit customers to e-sign estimates and proposals so users may rapidly return to their important tasks.
Increase Accuracy: Prompt bank reconciliations allow users to instantly scan bank accounts and correspond account activity with financial records.
Mobile Availability: Scan receipts, develop sophisticated invoices, respond to customer feedback and more with FreshBooks' mobile app available on iOS and Android devices.

Industry Expertise

FreshBooks has helped teams and entrepreneurs with accounting and invoicing since 2003. Founded by Mike McDernemnt, FreshBooks has more than 24 million users. Its mission is to relieve small business owners of complex accounting so they can redirect their attention to their business with the four-E philosophy: execute extraordinary experiences every day.

Freshbooks Reviews

Average customer reviews & user sentiment summary for Freshbooks:

4096 reviews

90%

of users would recommend this product

Synopsis of User Ratings and Reviews

Based on an aggregate of Freshbooks reviews taken from the sources above, the following pros & cons have been curated by a SelectHub Market Analyst.

Pros

Customer Support: Approximately 89% of users that mentioned it in their review said customer support is supportive, helpful and quick to respond to issues.
Appliances: Precisely 58% of users that discussed the system functionalities enjoyed this program's appliances because they can create clean reports, set up repeating invoices, and add and manage credit cards.
Simple and intuitive interface: Freshbooks' clean layout and straightforward navigation make it easy for even non-accountants to manage their finances.
Time-saving features: Automated invoicing, expense categorization, and online payments let users save time and effort on routine accounting tasks.
Mobile app for on-the-go management: Access invoices, track expenses, and manage clients from smartphones or tablets, ensuring flexibility and productivity.
Affordable plans for growing businesses: Choose a plan that scales with your needs and budget, with options starting at an accessible price point.
Seamless integrations with popular tools: Streamline workflows by connecting Freshbooks with tools like Stripe, PayPal, and Google Workspace, centralizing financial data.

Cons

Limited features for complex accounting: Freshbooks may not handle advanced accounting needs like inventory management, double-entry bookkeeping, or fixed assets.
Not ideal for large businesses: As businesses grow, Freshbooks' scalability and feature set might become insufficient for complex financial operations.
Price increases with client base: The cost of Freshbooks can rise significantly as you add more clients, potentially exceeding initial budget expectations.
Basic reporting and analytics: Freshbooks' reporting capabilities may be insufficient for businesses requiring in-depth financial analysis and data insights.
Limited customer support for free plans: Free trial and Lite plan users might have limited access to customer support, potentially hindering troubleshooting and issue resolution.

Researcher's Summary:

Freshbooks emerges from user reviews as a reliable and user-friendly accounting solution for solopreneurs and small businesses. Its intuitive interface, mobile app access, and automated features like invoicing and online payments are consistently praised for saving time and streamlining workflows. Compared to competitors like QuickBooks, users appreciate Freshbooks' ease of use for non-accountants, while acknowledging its limitations in advanced functionalities like double-entry bookkeeping or inventory management. This makes it ideal for those starting out or needing a lightweight accounting solution, but potentially less suitable for complex financial needs as businesses grow. Another key differentiator for Freshbooks is its affordability, with tiered plans starting at an attractive price point. However, user reviews also highlight a potential drawback: as client bases expand, so does the cost, which can become a concern for some users. Additionally, while basic reporting and analytics are included, users seeking in-depth data analysis may find Freshbooks' capabilities limited compared to more robust competitors. Overall, user reviews paint a picture of Freshbooks as a user-friendly and affordable accounting solution for solopreneurs and small businesses seeking to simplify their financial management. Its strengths lie in ease of use, automation, and mobile access, while its limitations emerge in advanced features and scalability for larger businesses. Ultimately, the decision to choose Freshbooks hinges on individual needs and priorities, with users emphasizing the importance of weighing its strengths against its limitations to ensure a perfect fit.

Key Features

Invoicing: Personalize invoices and thank-you emails with company logos via the invoicing apparatus. Users may request deposits on invoices at the start of a project so they'll have the right amount of funds to financially sponsor a project in its preliminary stages.
Expense Management: Link bank accounts and credit cards to FreshBooks instead of manually inputting data with the expense module. It displays data in real time so users will instantly know where their money is going.
Time Tracking: Manage project and task durations through the time tracking feature. It's equipped with a timer that accurately records a time log of tasks that easily appears on invoices. Users may also see how their employees spend their time from completed responsibilities to arising issues to address before they become major problems.
Project Management: Store files and vital attachments in the centralized project management accessory, enabling teams to efficiently find what they need so they can get right back to high-caliber tasks. Users may also allocate project deadlines, share images and files through FreshBooks and even designate rates or hours to particular projects.
Estimates: Produce adjustable proposals in addition to outlining a project's extent, timeline and necessary deliverables. Users may quickly transform estimates into invoices and permit their clientele to validate estimates online. This tool also allows users to send invoices in different currencies and add discounts.
Accounting: Receive precise profit and loss calculations and effortlessly share valuable financial data and reporting information with accountants. This module streamlines bank reconciliations by importing and arranging financial transactions, validating or revising automated matching recommendations and drafting and exporting Excel-friendly summary reports.
Reports: Color-code spending breakdowns and obtain profit and loss reports with the reporting attribute. Users may save, export and even print financial reports for their accountants. This tool also enables users to have a headache-free tax season because it stores valuable data such as money earned to taxes that have already been paid off.
Payments: Initiate various payment options such as VISA, MasterCard, AMEX and Apple Pay with the payment feature. This tool also instantly creates payments, collects reports, activates quick and painless bank deposits, requests deposits and provides payment schedules and partial payments for client flexibility. It also automatically sends receipts to patrons.

Approach to Common Challenges

Time-consuming invoicing: Freshbooks automates invoice creation, sending, and tracking, saving users time and effort. Recurring invoices can be set up for regular clients, and online payment options streamline payment collection.
Tracking expenses: Freshbooks allows users to easily categorize and track expenses, ensuring accurate records for tax purposes. Mobile app access enables expense capture on the go, and expense reports can be generated for analysis and tax preparation.
Managing projects: Freshbooks offers basic project management features to track time and tasks, helping users stay organized and bill accurately. Timesheets can be linked to invoices for transparent billing, and project profitability can be monitored.
Staying organized: Freshbooks centralizes financial data, making it easy to access and manage client information, invoices, expenses, and reports. The intuitive interface and search functionality simplify record-keeping and retrieval.
Collaborating with clients: Freshbooks provides a client portal where clients can view and pay invoices, access project updates, and collaborate securely. This enhances communication and streamlines project workflows.

Cost Of Ownership

Frequently asked questions regarding Freshbooks pricing include:

Q: How much does Freshbooks cost per month?
A: Freshbooks offers four tiered plans ranging from $4.50 to $99 per month based on the number of clients and features needed. The Lite plan ($4.50) suits solopreneurs and covers basic invoicing and expense tracking. Plus ($15) adds automation and online payments, while Premium ($30) expands on project management and reporting. Select ($99) caters to growing businesses with advanced features like double-entry accounting and inventory management.
Q: Do I have to pay extra for team members?
A: Yes, additional team members cost $16 per month each, regardless of the plan you choose. This allows your colleagues to access and collaborate on your Freshbooks account, manage clients, and create invoices.
Q: Is there a free trial or money-back guarantee?
A: Freshbooks offers a 30-day free trial for any plan, allowing you to test its features before committing. They don't have a traditional money-back guarantee, but if you're unsatisfied within the first 30 days, you can cancel your subscription and receive a full refund.

Limitations

FreshBooks comes with plenty of benefits and capabilities, but there are a few limitations. At the time of this review’s publication, these are the limitations of the solution based on user feedback:

Some users find that the invoices aren't customizable
Occasionally sluggish

Suite Support

Email: Users may send an email to [email protected] for email support.

Phone: Users may dial 1-866-303-6061 Monday through Friday from 8 a.m. to 8 p.m. ET for phone support.

Training: There's plenty of FAQs and in-depth articles on particular modules such as expenses and bank connections, invoices, payments and more on Freshbooks' support page.

Tickets: Users may type in questions with the "Ask a Question" button on FreshBooks' contact page.

FAQ

Frequently asked questions regarding Freshbooks include:

Q: Can it handle payroll?
A: Freshbooks doesn't have built-in payroll functionality, but it integrates with various third-party payroll services, like Gusto and ADP. This provides users with flexibility while offering a separate platform for dedicated payroll management.
Q: Is it secure for handling sensitive financial data?
A: Freshbooks employs industry-standard security measures, including data encryption and multi-factor authentication, to protect user information. Additionally, they comply with various data privacy regulations, giving users peace of mind regarding their financial data.
Q: How well does it integrate with other tools I use?
A: Freshbooks boasts extensive integrations with popular tools like Zapier, PayPal, Stripe, and Google Workspace. This allows users to seamlessly connect their workflow and eliminate the need for manual data entry across different platforms.
Q: Is it suitable for international businesses?
A: Freshbooks supports multiple currencies and languages, making it adaptable for international businesses. It also offers features like VAT compliance and international payment options, catering to the specific needs of businesses operating across borders.
Q: How good is their customer support?
A: Freshbooks offers various customer support channels, including email, phone, and live chat. Users generally report positive experiences with their support team, praising their responsiveness and helpfulness in resolving issues.
Q: How does it compare to other accounting software options?
A: Freshbooks excels in user-friendliness and affordability, making it ideal for beginners and small businesses. However, its feature set may be limited for larger businesses or those requiring advanced accounting functionalities. Comparing features and user reviews against competitors like Xero or QuickBooks can help determine the best fit.