FreshBooks for Billing and Invoicing

For small companies and freelance businesses, managing multiple clients, payment deadlines, and invoices can be a daunting task. However, with the advancements in accounting software technology, this process has been transformed. Accounting apps now offer a vast range of features that provide accurate bookkeeping, record financial transactions, and even evidence-based analytics that assist business owners in making informed decisions. Among these revolutionary accounting technologies, Freshbooks stands out as a trailblazer. It is an accounting software that is well-suited for smaller businesses and companies with one main owner and operator.

What makes FreshBooks the right choice for invoicing?

Freshbooks provides an extensive range of invoicing tools that facilitate effortless creation, transmission and monitoring of invoices to clients. And clients can conveniently settle invoices online, directly from the documents, thereby reducing accounts receivable days and streamlining payment collection.

Moreover, FreshBooks is equipped with several useful features to simplify and speed up your accounting tasks, especially those related to invoicing. These include:

  • Customizable invoicing options that allow you to adjust payment terms, add customer notes, request a deposit, and create a payment schedule.
  • Time tracking feature that allows you to add billable hours to an invoice right away, making it possible to invoice a customer on site.
  • Payments feature that integrates with Stripe or PayPal, enabling users of those platforms to track payments via FreshBooks.
  • Recurring invoice feature that allows you to schedule invoices to go out automatically at a desired frequency, with options to send payment reminders and apply late fees.
  • Mobile app available for both iOS and Android, enabling users to create invoices immediately after meeting with a client.
  • Bookkeeping feature that connects to your business bank and credit card accounts and imports expenses automatically each day.

Pros of FreshBooks

  • Easy expense maintenance and automated payment reminders for better payment and cash flow management
  • User-friendly interface with easy navigation for seamless financial management using FreshBooks
  • Customizable invoices to reflect brand identity and include all necessary information
  • Robust time tracking system to track billable hours, generate reports and invoice clients
  • Mobile app for convenient financial management on-the-go.

Cons of FreshBooks

  • FreshBooks lacks inventory tracking and vendor management features.
  • Batch-invoicing shortcuts and generating reports on the go via the mobile app are also missing features.
  • Third-party integrations with services like Stripe and PayPal are required for payment processing.
  • Customer care can be unresponsive at times.
  • Some users also feel that the connectivity with other tools is limited.