FreshBooks Pricing, Characteristics, Surveys, and Alternatives

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Do you have a small business that requires outstanding bookkeeping? FreshBooks is one of the best bookkeeping tools that you can use to ensure your business runs smoothly. Read more about it here. 

Running a small business requires efficient tools that can help you simplify operations. Fortunately, there is plenty of effective software that is designed for both small-scale and large-scale businesses. These tools have different features that perform different functions. But the most important aspect of running any business is bookkeeping. This helps to handle your finances properly and ensure that everything is in order. One particular service that has proved its worth when it comes to bookkeeping in a small business is FreshBooks. 

In this article, we will talk about FreshBooks and all the nice features that it offers to help you decide whether it is the right tool for you. We will also highlight its plans, features offered, and FreshBooks alternatives in case you need them. Read on for a better understanding. 

FreshBooks stands out as one of the best financial products for small businesses. If you are a freelancer contractor, then FreshBooks has the best features suited for your venture. It has customizable features and good customer service, which are among the good attributes that makes it stand out. As much as it has many superb features, some of its packages are not suitable for fast-growing businesses due to its limitations when it comes to clients and users. 

Before FreshBooks became an accounting product, it started out as an invoice managing tool. Its headquarters is situated in Toronto, and it’s used in over 160 countries right now. However, it has not reached a point magnitudes of the industry leader QuickBooks Online.

FreshBooks Pros 

  • Very easy for small businesses and freelancers to use 
  • Quick response customer support 
  • Has one of the best invoicing services 
  • All its plans have mileage tracking and time-tracking features 

FreshBooks Cons 

  • The number of clients and users is limited
  • The lowest tear plan has no bank reconciliation or accountant access 
  • Quarterly tax estimates are not provided 

How does FreshBooks work?

New users are given a 30-day free trial. This is helpful because it allows you to gauge and feel whether it is the best product for you. Once the 30-day free trial is over, you can decide to choose from one of its four plans, or if it does not meet your expectations, you can just leave it. What determines the plan that you want to choose is the complexity and the size of your business. FreshBooks has a support page set up to help new users get a grip on the product. It has video webinars that explain bookkeeping features and the basics of using the software. As a user, there are charts that allow you to summarize your revenue streams, invoices, spending, and profit and loss, in the main dashboard. The product also has mobile applications for both Android and iOS devices. The app allows you to access the basic features of FreshBooks. The app also allows you time and mileage. 

How much does FreshBooks cost?

FreshBooks has four distinctive plants, which are all offered on a monthly and yearly basis. New customers can access several discounts that run online. These are the four available plans:

  • Lite which goes for $15 per month or $180 annually
  • Plus, that costs $25 per month or $300 annually
  • The premium that is available is $50 per month or $600 annually
  • Select at Custom pricing

FreshBooks Benefits 

  • Quick response customer support on email and phone 

FreshBooks gives other similar products a run for their money by providing highly rated customer support service. You will receive a response to your email within 90 minutes and on the phone within three rings. You will get a response from the customer support representative. Customer support is available on weekdays from 8 a.m. to 8 p.m.

  • Good invoicing services

Another benefit of FreshBooks that gives it an edge over its competition is its great invoicing features. It offers various customizable designs that allow the user to receive updates on invoices that have been viewed by clients, set up recurring digital invoices, and include discounts with ease. The mobile app of FreshBooks also offers all these features. QuickBooks, which is one of its competitors, doesn’t offer many invoice customization options compared to FreshBooks. 

  • Mileage and time tracking in all plans

All FreshBooks plans have mileage tracking and time tracking features. These great features are also available in the app version of FreshBooks. These features are ideal if you don’t want to buy separate add-ons and you are running a small operation. It is also a good feature if you are an entrepreneur. 

Drawbacks of FreshBooks

  • Limits on users and clients

One drawback of FreshBooks is how it limits the number of users and clients. Only one user is allowed to access the accounts in all plans except the Select plan, which only allows two users. If you want to add more users, then you’ll need to pay $10 for each user per month. Life and Plus, which are the lowest-tier plans, allow only 5 and 50 clients, respectively. These limitations may not cost much if you have a small business and you are working alone. However, the impact is more costly if you are running a large-scale business. Other FreshBooks alternatives offer more flexibility when it comes to users’ and clients’ accessibility. 

  • It doesn’t offer accountant or bank reconciliation in Lite Plan

If you use the lowest-tier plan, you should know that you won’t get access to advanced features found in other higher-tier plans like Basic. One of these features is a reconciliation of bank accounts. As a user, you will also not be allowed access to a bookkeeper or an account. Other services that offer similar products offer these features even in their cheapest plans. 

  • Does not offer quarterly tax estimates

Unlike QuickBooks Online, which offers quarterly tax estimates, FreshBooks only provides quarterly tax reports. There are other products such as Taxfyle that don’t integrate with FreshBooks. Taxfyle allows users to quote for their personal or business taxes. 

FreshBooks Alternatives 

In case you feel that FreshBooks doesn’t meet your expectations when it comes to bookkeeping, then you can opt for other FreshBooks alternatives. These alternatives also offer the same features, but some are much better. Let’s have a look at them:

  • QuickBooks Online

This type of bookkeeping service is more comprehensive than FreshBooks. It is also more expensive because of the numerous features and flexibility it offers. It has robust capabilities when it comes to reporting. You can benefit from various QuickBooks Online add-ons such as Payroll. This service also offers you the ability to scale up when your business expands. 

  • Nerdy tip

If you are looking for a cheaper alternative to FreshBooks, then what you need is a Nerdy tip. The tool is created to cater to freelancers and has features such as expense tracking, tax filing features, and mileage tracking. However, you won’t get accounting basics that allow you to add journal entries or generate balance sheets.

  • Xero

Zero is the software you need when you are looking for bookkeeping that offers more app interactions. There is no accounting jargon in this service that has an intuitive design and offers more than 800 third-party apps integrations. 

Conclusion

FreshBooks is what you need if you are operating a small business that doesn’t require much when it comes to bookkeeping. It has numerous outstanding features that will help you manage your books with ease. However, one of its demerits includes limited users and clients, which is okay if you are running a small venture. 

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