FreshBooks

Pros 

FreshBooks is liberating. With it, you can create invoices, manage projects and accept payments online from anywhere. This accounting software also provides free client portals, iPad and iPhone apps, and encrypted data backup.

Cons 

FreshBooks does not provide an Android App. To get Android compatibility, you have to purchase GoBooks from a third-party software developer. FreshBooks accounts do not support free additional users.

The Verdict

The VerdictIf you want freedom to work across platforms, on mobile devices or by utilizing other apps, FreshBooks is generously obliging. With FreshBook's mobile tools and compatible apps, you can do everything from accepting credit card payments and tracking paper receipts to generating leads.

Invoicing & Billing:FreshBooks understands that most sole proprietors and small business owners are not accountants. In fact, they may dread every second of keeping their books. Some report that FreshBooks actually makes accounting enjoyable. This online accounting system is simple to use, accessible anywhere and comes with free customer support. While testing this invoicing service, we acquired a free account, branded our account with our logo and color scheme, and saved our first customer, project and invoice in less than 10 minutes. You do not need to know formal accounting terminology to use FreshBooks, yet it can provide the reports and data needed by your accountant to prepare your taxes. This service can help you receive payments online using gateways such as PayPal, Authorize.net, Braintree and 2CO. Compatible eCommerce tools include Shopify, osCommerce, Magento and Zen Cart.

When creating client accounts, FreshBooks will save the clients' default currency and language preference. When the invoice is created, it will automatically use the stored client data, calculate taxes and discounts, and associate the related PO# with the new invoice. Invoices can be saved as PDF files or emailed directly from your account, or FreshBooks will send invoices by snail mail. It can manage multiple tax rates and more than one tax per item. This accounting software can also manage recurring invoices and manage partial payments. Although this service is not ideal for managing large volumes of diverse inventory, it can save inventory items including descriptions, unit costs and tax rates.

Project Tracking:

FreshBooks can manage projects including billing methods, budgets, tasks and team members. This online business tool allows you to manage account access. For example, you can set permission levels for administrators, staff members and clients. It will even permit you to assign specific clients to staff members so that they can only access the assigned client information.

This service also tracks time, expenses and timesheets. Time can be captured using the built-in timer, and you can track unbilled time. FreshBooks can manage multiple billing rates and assign expenses. Receipt images can be stored with expense files, and you can filter expenses by type. It can also manage recurring expenses and import bank files to help with reconciling accounts.

Compatible add-ons that can assist with project management include Basecamp, DeskAway, Braintree, Gmail, Shoeboxed, ExpenseCloud, Toggl and many more. It also works with sales apps such as Salesforce, Quote Roller and Formstack as well as marketing tools such as MailChimp and ActiveCampaign.

Mobility:FreshBooks provides an iPhone and iPad app in the iTunes App Store that is free to subscribers. This mobile version tracks time and expenses, generates invoices and manages receipts. While away from the office, you can easily track time with the mobile timer and capture receipts using your mobile camera. Image files can be attached to expense requests. The mobile version can also display timesheets and invite staff and other users to projects. The iPad version also has the ability to display a full account overview.

Summary:Using FreshBooks, you can easily keep your books current, get paid faster, be ready for tax time and spend less time at your desk. It can manage clients no matter where they are located, what language they prefer or what tax rate they are required to pay. FreshBooks can free you from stodgy, traditional accounting software and release you to spend more time creating and increasing your business' success.