FreshBooks is a user-friendly accounting software that works well for freelancers, especially those with little or no accounting experience. It’s clean, intuitive interface makes it easy to navigate, and setting up a company file is straightforward. The streamlined dashboard ensures you can quickly learn and use the program without feeling overwhelmed.
I especially recommend FreshBooks to service-based freelancers because of its project accounting features. For example, it includes a time-tracking tool that lets you capture billable hours and convert them directly into invoices. In addition, you can communicate with team members, if any, and compare actual versus estimated costs per project to evaluate your efficiency in performing work.
Standout Features
- Customizable and recurring invoices: You can personalize your invoices before submitting them to clients. You can upload your company logo, edit the invoice fields, modify their designs, and add personalized messages for your customers. Moreover, you can let FreshBooks handle recurring invoices so that you won’t have to do it on a monthly or weekly basis.
- Payment reminders: There’s no need to send hundreds of emails or spend hours calling your clients—FreshBooks will automatically send them customized reminders.
Use Cases
- Freelancers wanting to DIY accounting: FreshBooks’ design puts the users with no accounting knowledge in mind. If you want to do DIY accounting, FreshBooks’ user-friendly interface makes it easy for you to record invoices and bills.
- Service-based freelancers tracking hourly labor: Tracking time within FreshBooks makes it ideal for freelancers who need to bill clients for hours worked. You can directly bill time worked to clients after tracking it.
Note: FreshBooks might not be the best choice if you need access for multiple users. All plans are limited to one user, and adding another costs $11 per user, per month. If affordability for multiple members is a concern, Wave could be the better choice. It offers a plan with unlimited user access for just $16 per month, making it a cost-effective option.
I gave FreshBooks high marks for project accounting and A/R, which makes it an excellent choice for freelancers without an accounting background who handle client projects and bill by the hour. However, I had to dock points for its banking features. Its banking tools aren’t as streamlined, and you can’t track cash from multiple bank or credit card accounts unless live bank feeds are connected, which can be limiting.
The mobile app doesn’t support advanced tasks like tracking billable time directly, which cost it points in my assessment. Pricing also took a hit since all plans include only one user, and adding more comes with an extra cost. This limitation can make it less appealing for freelancers or small teams who need more flexibility.
Leave a Reply