Last Updated on February 2, 2021 by Yetty Akindele
The past few years have seen a sharp rise in the number of start-ups, small businesses, and entrepreneurial ventures throughout the business world. The ease that digital marketing, online selling, and easy transactions bring along is consistently making it easier for smaller businesses to attract more customers and grow fast. With this growth comes the need for trusted accounting software. This is a need that FreshBooks meets adequately. It is my take on the best accounting software for small businesses in 2020.
Such small businesses are usually headed by a single owner or have very limited manpower working behind the scenes. This increases the need for small businesses to use technology and digital tools for management purposes. One such technology that comes in handy for small business owners is accounting and finance management related software.
An accounting software, especially one like FreshBooks, does most of the money management and invoicing related work for small businesses. Such software not only allows for fast and secure financial management but also helps small businesses prosper fast by providing accurate and timely insight reports. Using Freshbooks saves small business owners a lot of time, making sure that they can utilize their energies in other productive activities.
I have given a detailed review of FreshBooks below. Read on till the end to find out about their current promotion that’ll save you a lot of money for 6 months!
What is FreshBooks?
FreshBooks is a Canadian owned accounting software. It is one of the most famous and trustworthy financial tools for small businesses in 2020. This easy-to-use and affordable software has been made to fulfill all accounting related needs of small business owners. Released in 2004, FreshBooks is consistently getting upgrades to make its cloud-based management system faster and much more secure than before.
Through this software, small businesses can manage team collaboration better, perform accurate bookkeeping, and faster invoicing. FreshBooks allows small businesses to create professional and customized invoices within seconds and, thus, brings them faster earnings. With freshbooks, you don’t have to keep paper receipts of business purchases as you are able to upload receipts online for safekeeping and easy account reconciliation.
Using this software for your small business allows you to focus on giving better customer services and coordination as you spend less time on your finance-related chores. Given below is a detailed review of this software and its useful features for small business owners.
Who is FreshBooks ideal for?
Cutting it straight, FreshBooks is an ideal software for small business owners who really want some extra time to focus on other matters of importance. The software has been programmed, keeping small business owners and their accounting needs in mind. It is the perfect fit!
Available for both iOS and Android users, the software comes with a number of useful features that small business owners can avail themselves through some flexible and SMB friendly payment packages. This software also serves the needs of professional freelancers and entrepreneurs who want to optimize their sales and customize their documents. Lastly, accounts in big organizations can also ease their daily tasks by making a small investment in buying a suitable plan of FreshBooks.
Features
FreshBooks is the winner of the Best Accounting Software Award by FinancesOnline in 2019. It has also successfully satisfied its users when compared to other software and apps in its category. Here are some of its useful features for small business owners;
Invoicing
FreshBooks allows you to make, track, auto-generate, and update your customized invoices. It also reminds you of any due dates, allows you to get paid in time with online deposits and card payments, as well as track your invoices till they reach your clients.
Easy expense management
You can say goodbye to heaps of receipts overflowing your drawers. With FreshBooks, you can manage and track your expenses individually, simply by logging in and performing a few steps.
Collaborative Working
Manage and track your invoicing or payments even after you leave your office. FreshBooks allows your business team to log in and collaborate better through its easy-to-use interface no matter where they are.
Save and Sync from anywhere
No need to worry about important conversations or pieces of constructive feedback getting deleted. With FreshBooks, you can easily save all of them in a single place and sync from whatever device you want. It is a cloud accounting software.
Cost
As already mentioned, FreshBooks is an affordable accounting software that small business owners can deploy for their working. You can avail yourself maximum benefits from this accounting software by investing in any of the flexible pricing plans available.
Overall, FreshBooks offers four different pricing packages to its customers. The fourth being the ‘select’ plan that allows for customization to suit the business’s needs. The most affordable of their monthly plans is the Lite Package that comes at just $15 per month. Other pricing plans include their Plus Package that costs $25 per month and the Premium Monthly Package that you can avail for $50 per month.
The best thing about FreshBooks is that it allows a 30 days free trial to its new customers so they are sure of the software’s credibility before investing anything. What do you have to lose with the free trial? Nothing, it requires no credit card and you can cancel anytime. Currently, FreshBooks is offering a promo under which their new customers can get a 60% off on their Lite, Plus, and Premium packages for 6 months. However, a tax-time sale will be considered between 4th June and 15th July of the current year.
Is FreshBooks any good?
My answer to this question is a big YES. Freshbooks has amazing features with a friendly interface that makes it easy to understand. You do not need to be a computer wiz to figure it out. The plans are also very affordable.
However, I won’t tell you to simply believe in all that I say. Rather, I will give below a list of this software’s features for you to decide yourself.
- Availability in 12 different languages
- Award-winning Toronto based customer service
- Generates powerful reports of business as well as recommending what to do to improve
- Cascade budget across teams to keep everyone on track
- Simple users’ interface
- Mobile friendly
- Allows online payments via a variety of routes such as ACH and credit cards
- Invoice tracking
- Quick billing history management
- Ease of branding and customizations of financial documents with business logos
- Ease of integration with other third party software
Conclusion
We live in a fast-paced world where tracking payments and managing finances can sometimes become a hurdle in our way to success. Trusting an efficient software like FreshBooks is probably the only solution to most of our financial report needs under such circumstances.
FreshBooks’s wide range of features along with its 30-days free trial for you to test before you invest makes it a great option for small businesses, freelancers, and self-employed. Remember as stated earlier, you have nothing to lose with the free trial. Why don’t you sign up today and experience that much-needed peace with regards to your business’s financial management?