Are you looking for a software program or an app that will help you manage your company’s finances? Look no further, because Freshbooks is readily available for you to try.
If you are a small business owner, the most important thing that you should invest your money into would be a reliable invoicing and accounting software. It is a must for every small business owner because they can track down their revenues and expenses in a single click.
In today’s world, the concept of traditional software has changed. Today, most software and apps are being hosted in the cloud. Freshbooks is one of the first companies to offer their services through the cloud, and their bold decision to leap forward paid off.
Today, the cloud-based invoicing and accounting platform is one of the most trusted on the planet. If you are wondering if this platform will work for you, continue reading and discover what its features and strengths are.
WHAT ARE THE FEATURES OF FRESHBOOKS?
Freshbooks has a lot of features in store for you. If you started paying for the service, you will be redirected to platform’s home page and these are the features that you can find:
Dashboard
When you log in to Freshbooks for the first time, you will be redirected to the platform’s dashboard. The dashboard gives you a brief overview or summary of your company’s financial situation. The information posted on this page will give you a heads up about what’s happening within your business.
The first thing that you will notice on your dashboard is your outstanding revenue. This refers to the amount that your clients owe you. You can check your outstanding revenue in multiple currencies to know how much money you can receive once your clients start to pay you.
You can also check an overview of your total profit through the dashboard, and you can also modify the categories to give you a better picture of your company’s performance. You can select the option to view a monthly or quarterly report on the performance of your business.
As you scroll down the page, you will also see the expenditures tab, summarizing how much money you spent during a particular period. You can modify the dates and the currencies, and you can also break it down into smaller categories so it will be easier to look at. This will give you an idea of where you spent your money and will encourage you to manage your expenses better.
Finally, on the bottom part of the page, the advanced reports can be found. These are the coolest features on Freshbooks. It takes all of the data available on your account, and in a single click of a button, a detailed and comprehensive report will be made. It gives a deeper insight into your business.
Overall, the dashboard makes it easier to understand what is going on with your business, and you can also identify what the problems are in a single click.
Invoicing
Invoicing is another great feature that can be found on Freshbooks. As a small business owner, it is your responsibility to ensure that your business has a good accounting and invoicing capabilities. You need to provide your clients with a detailed invoice to help them understand their bills.
When creating an invoice through Freshbooks, all you need to do is to go through the invoice tab, and it will give you a live preview as you edit how it should look like.
The invoice contains basic information – customer data, the invoice’s date of issue and due date, the invoice number, and the amount due. You can also see the logo and brand of your company to help you visualize how your clients will see the letter.
Another cool feature under the invoicing tab is the payment options that your clients can select. Freshbooks accept credit card payments and many other options.
For business owners who have artistic talent, they can customize the style of their invoice and choose the right color combination that will match their logo.
When it comes to efficiency, Freshbooks is also leading the way because the platform can automatically charge the customers through the Make Recurring feature. This is the most recommended billing option if you are running a subscription and your clients are willing to pay.
To help your clients with their bill, you can also send them payment reminders. If they fail to pay on time, you can use the charge late fee options, which are under the same panel. Everything that you need to know about the invoice can be accessed through the Invoicing page.
Payment Processing
If you are using Freshbooks, there are currently four available options on how you can receive the money. The first three ones – cash, credit cards, and checks – are the most traditional. The fourth ones, which are app-based payments, makes it more convenient to receive cash.
Freshbooks Payment is a program designed by the company that makes it possible for small business owners to receive their money without any hassles. Stripe is a third-party app that does the same thing, and using it will give you more controls to the customization of your invoice.
Despite the positive reviews about the payment processing option offered by Freshbooks, there are still people who are requesting for the return of Paypal. The company removed Paypal from their list of payment processing options because they wanted to promote Freshbooks Payment.
Expense Tracking
This option will help you identify the spending habits of the company, and you can minimize your expenses by looking closely at where the money is spent. To view a detailed report, you have to connect your credit card account or your bank account into the platform.
Project Management
This feature makes it easier to collaborate with your team using the tools that are available on-hand. You can keep track of the freelancers who are working for you and check the hours that they logged. You can also use the log to create a report on how much money you should bill your clients.
Time Tracking
Time tracking is an important feature for any platform that offers to invoice and accounting services. With time tracking, you can determine how long you have worked, and how much you should bill your client.
Reports and Taxes
The section about advanced reports will give you a detailed overview of the financial status of the company concerning government rules and regulations. A profit and loss report might also be required.
Apps and Integrations
When it comes to apps and integrations, you can check Freshbooks’ website and determine the tools that you wanted to use. The company has a lot of tools to choose from.
Mobile App
Freshbooks also has its mobile application that iOS and Android users can download. The best thing about this app is that you can use it on the go, and it can do most of the tasks that you can access on the desktop (except for the detailed reports which do not display properly on mobile).
Pricing
When it comes to pricing, Freshbooks offers three different subscription plans. The first one is called Lite, and it is for businesses with five active clients. It costs $15 per month. The second option is called Plus for businesses with 50 active clients. This one costs $25 per month. Lastly, there is the Premium option, which is suitable for businesses with 500 active clients, and it costs $50 per month.
If you wanted to try Freshbooks for free, you can head to their website and grab their 30-day trial. You have the option to cancel it anytime if you did not like it.
Support
Freshbooks has a customer support team that will help you whenever you encounter problems within their website. You can either send them an email or contact them directly through their hotline. Alternatively, you can also troubleshoot an issue using their online FAQs page.
Pros
Cons
Final Verdict
If you are a small business owner or a freelancer, you should start using this program. The features contained within this platform will help you bill your clients responsibly, while at the same time charge your clients who signed up for a subscription service.
Freshbooks also help you become more creative on how you will present the invoices, and it also gives you the capability to work with your team through the collaboration tools.
Give this program a try and you will surely love it. Go to Freshbooks’ website today and sign up for a 30-day trial! If you loved the platform after the trial period has ended, you can choose from the available subscription plans that they offer.
