Are you also struggling with keeping track of your finances? Well, Freshbooks has a vastly convenient solution for you!
In this article, we will go over what Freshbooks is, some incredible reasons for why you should be using Freshbooks and how to use Freshbooks for accounting to manage your business’ bookkeeping activities.
What is Freshbooks?
Freshbooks is a highly convenient cloud accounting app designed to assist not only businesses but also self-employed individuals and freelancers in managing their accounting activities. With Freshbooks’ user-friendly and easy-to-use software, you no longer need to worry about juggling expenses, invoices, reports, and time tracking on top of operations and marketing activities. Designed for the purpose of automating and smoothing out the accounting process, the product allows you more time for yourself by taking care of all the troublesome calculating.
Why should you use Freshbooks for your accounting activities?
1. Excellent Invoice to Payment Service:
With its high-end and efficient softwares, Freshbooks proves itself to be very handy in keeping track of invoices and customer payments. Through Freshbooks, you can find out exactly when a customer opened the invoice email, eliminating the chance of a customer pretending they never received one.
Forget worrying about having to send out constant reminders to customers with delayed payments. Through Freshbooks, you can send out automated reminders to such clients and keep track of your billing history easily using its simple and uncomplicated tools.
Moreover, Freshbooks allows easy and flexible payments via Visa, Mastercard, or American Express for credit card processing or even PayPal for online transactions. Along with its streamlined and automated invoice and online payment gateway, Freshbooks also allows your clients pay in their local currencies through its multi-currency invoicing feature.
2. Easy to Track Expenses:
Keeping track of the amount of money spent by your company on a day to day basis has never been easier with Freshbooks. You can, without much of a stretch, track which expense belongs to which client or add the expense to a receipt as a repayment deal with a customer. You can also directly import expenses from your bank by linking the Expense Tool to your credit card or bank account.
3. Definite Time Tracking of Work and Payments:
In case you ever need to dispute a payment, Freshbooks offers a detailed and verifiable process that works efficiently when charging your customers. Through the app, you can keep track of the time you and your team members spent on a certain project for a client and bill them accordingly. Also, with its flexible billing features, you can choose between hourly or flat rate time tracking depending on the requirements of your project.
4. Create Reports with Ease:
With your data already entered, Freshbooks allows you to generate your financial reports with ease. With just a few clicks, you can monitor your balance sheet in real-time, keep track of your monthly expenses and revenues, generate your income statement and your tax reports.
5. Work From Anywhere with the App:
Say goodbye to staying confined in your office space for indefinite hours to complete your work. With the Freshbooks app, available on Android and iOS both, you can stay in touch with your teammates and customers from anywhere in the world. The app allows you to use all the functions of the desktop version completely, making it exceptionally convenient to work even when you’re on the go.
How to use Freshbooks for your accounting activities?
If you have decided that Freshbooks is the right fit to carry out your accounting procedures and looking for ways to get started, look no further! Here are some ways you can get started and use Freshbooks for accounting.
- Make Your First Invoice
- Accept Credit Cards
- Track Time
- 30 Day Trial and Pricing
Make Your First Invoice
Ready to bill your customers? Go ahead and make an invoice!
Simply click on the Invoice tab and click the + New Invoice button to make your very first invoice!
If you want to know more about invoices and how to make them, click here.
Accept Credit Cards
Make receiving payments easier by accepting credit cards!
You can enable gateways as the account administrator by going to Settings and clicking on Accept Credit Cards sub-tab.
Have you received a project and are starting to work on the task? Keep track of the time you spend on it so you can bill your customers accordingly!
Go to the Time Tracking tab and select a day from the calendar visible to you. Pick the Project and Task you are working on, add any necessary notes along with your hours and then click the Log Hours button. That’s how you can use freshbooks in this way.
Once your 30 Day Trial period is up, go to My Account and click Upgrade. You can select the plan you think best works for your business and can cancel any time with a 30-day money back guarantee!
With over 5 million users worldwide, Freshbooks is also the recipient of the Gold medal at the 2014 Stevie Awards for Sales & Customer Service. So what are you waiting for? Now that you know how to use Freshbooks for accounting, get started today and rid yourself of your accounting troubles!