FreshBooks Accounting Software Review

It doesn’t matter if you run a small single-member LLC or a major corporation: all business entities need to carefully track their income and expenses to ensure compliance with taxation guidelines and to separate personal and business assets.

FreshBooks is our top accounting software pick for small businesses seeking well-rounded accounting services. Let’s see if it’s the right choice for your business!

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A Brief Overview of Accounting Software Services

What can business accounting software do for your company? For starters, it helps you with expense tracking and tax season preparation. In addition, accounting software can assist you in setting reasonable expectations for the growth of your business. It can also provide custom reports that identify which parts of your business provide the best return on investment.

Last, but far from least, using accounting software can help you prepare reports for investors. When you have clear and concise financial data at your fingertips, it’s easy for potential investors to get a snapshot of your business activities and decide if they want to invest in your business or not.

FreshBooks can tackle all of these tasks and more, but is it the best accounting software service for you?

FreshBooks Accounting Software Review

FreshBooks is an outstanding option for any small business in need of a comprehensive and well-rounded accounting software solution. Let’s quickly run down some of its pros and cons before we take a deeper dive.

Pros

  • Unlimited estimates
  • Payment processing included
  • Generous welcome bonus
  • Intuitive interface

Cons

  • No double-entry accounting in base plan
  • Limited invoicing in base plan
  • No tax support

The Details of FreshBooks Accounting Software

FreshBooks’ base monthly rate of $15 is solid if unspectacular, and the same goes for the upgraded Plus plan for $25 and Premium package for $50. However, as we’ll discuss in the next section, FreshBooks offers deep discounts if you’re willing to pay by the year.

If you’re looking for an accounting service with high ease of use and the ability to accept credit card and ACH payments, give FreshBooks a long look.

Overall Pricing and Value:

If you pay by the month, FreshBooks is a good deal, but not a great one. Its $15 monthly base rate is fine, but there are competitors that offer similar services at a lower price point. However, FreshBooks has a way to knock down these rates considerably.

If you opt for annual payment rather than a monthly fee, FreshBooks knocks its prices way down because it provides a 60% discount for the first six of the contract’s 12 months. This means that you can get the Lite plan for just $9 per month instead of $15, while the $25 Plus package drops to $15 and the $50 Premium plan is only $30. Plenty of competitors give annual discounts, but none as significant as FreshBooks offers.

Track Record:

Mike McDerment founded FreshBooks in 2003 in his parents’ basement. Today, FreshBooks has physical office locations in four different countries (United States, Canada, Netherlands, and Croatia) and reached a valuation of more than $1 billion.

Regarding customer feedback, we found roughly 4,900 reviews on reputable third-party review aggregator websites. Even with a high volume of reviews, FreshBooks maintains a 4.4 average score out of 5, indicating that most of its customers are quite pleased with their purchases.

Customer Support:

FreshBooks offers 12 hours of phone support availability per weekday, from 8 am to 8 pm ET. You can also send FreshBooks messages on their website. We’re impressed with the availability and quality of FreshBooks’ support, especially considering that some of its competitors don’t offer phone support at all.

FreshBooks has a solid reputation for customer support as well, and you won’t find too many complaints about this aspect of the company in its company reviews (more on this shortly!). Overall, customer support is an advantage for FreshBooks compared to most industry competitors.

Ease of Use:

There wouldn’t be much point in using an accounting software service if it didn’t make the process of tracking your company’s finances significantly simpler. Thankfully, FreshBooks does just that, with an easy-to-use interface and intuitive features.

FreshBooks is one of the most user-friendly tools available in the accounting software world. It’s quite easy to learn how to use it, and customers often rave about FreshBooks’ ease of use in their reviews.

What Are Customers Saying About FreshBooks Accounting Software?

We managed to dig up 4,895 reviews of FreshBooks on reputable third-party review sites and found that the company averages a score of roughly 4.4 stars out of 5. While there are a couple of competitors that have higher average rating scores, we’re still highly impressed with FreshBooks’ reputation in this area.

In their positive reviews, FreshBooks customers often discuss how pleased they are with the company’s user-friendly software interface and wide range of accounting tools. However, there are a few customers with complaints about rigid invoicing requirements.

Our Final Thoughts

FreshBooks is an excellent option for any small business looking for a well-rounded, fully featured accounting software solution. We appreciate its strong customer feedback and generous annual pricing discounts.

If you’d like to take a look at your other options for accounting software services, take a look at our guide to the best companies in the industry.

Disclaimer: The content on this page is for information purposes only and does not constitute legal, tax, or accounting advice. If you have specific questions about any of these topics, seek the counsel of a licensed professional.

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Written by Team ZenBusiness

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