How to Turn Your Freelance Business Pains Into Profit With FreshBooks Cloud Accounting Software

By Bill Acholla July 27, 2019

Accounting is a job that most of us want to stay away from.

I have seen several businesses and self-employed people toiling over the fact that they have to make invoices and make bills at the end of the month.

Most of them fail to keep a track which causes problems during filing taxes. I have worked with accounting for a while and have met many people.

They always want to get help whenever they have to do the accounts. They wish that they had software that helped them to deal with the number.

Today, I am quite happy to talk about an accounting software called Freshbooks which will help you and several other self-employed people out there.

But before we start, here’s what you’ll learn:

What is Freshbooks?
Why Freshbooks is important for the self-employed people
5 Tips for Self-employed People on using Freshbooks
What is the difference between Freshbooks vs QuickBooks?
Pricing Structure of Freshbooks
Benefits of Using Freshbooks
Cons of Freshbooks

What is Freshbooks?

If you have been working on your own for a while it is obvious that you were making invoices on your phone.

Don’t you find it hard to deal with all the hefty calculations?

I know that I would have if I had to work on them.

You may work on Excel sheets but they tend to pile up in your computer and mess everything up.

We do spend a considerable amount of time on a daily basis to do the accounting work.

What if there was something that can help you out?

Freshbooks is a cloud accounting software that makes these calculations an easy task for self-employed people as well as for businesses.

Their main aim was to help out those individuals or firms who find it hard to deal with those things.

They are based in the cloud, so you wouldn’t need to install any heavy file. On top of that, there are applications made for your tablet, mobile, and your personal computer.

It is all about automating your business to make things easier. The time that you save can be spent on doing more productive things which will help in growing the business.

Freshbooks was started by Mike McDerment to make things easier for people.

Freshbooks is a software which contains several different features which make it stand out.

These include its ability to:

  • Automate invoicing
  • Tax calculation
  • Expense calculation
  • Automate billing
  • Time tracking
  • Report creation
  • Manage clients

…etc.

You will notice that these are a few of the things that actually eat up a huge amount of time when you are starting out with a business and especially at a time when you are progressing fast.

I think that businesses and especially self-employed people should start out with Freshbooks as it will help them to remain sorted from the very first day.

Why Freshbooks is important for the self-employed people

If you are someone who is a self-employed person, you will know the perils of managing everything on your own.

I know the pain of dealing with the clients and also making the invoices on a daily basis. It is a headache and it at times it becomes too stressful.

You may even feel like giving up on it.

The commercial invoice does take up more time than the usual ones that we make for ourselves.

Even Jamie Leigh felt the same about it. She is a web designer who started out as a freelancer but then she opened up her business, Jamieleigh.com.

Of course, it was a dream come true for her as she was doing a job that she liked. As her business kept growing, so did the spreadsheets containing the invoices.

Soon she was fed up and she gave up on doing taxes, which is quite harmful. She found Freshbooks after doing research and it had the features that she was actually looking for.

The cloud software has the ability to do automatic invoicing, to track the work she is doing and also to help her out with easy reports.

She states that Freshbooks is always open on her computer while she is working.

It has helped her a lot to manage the business alone and to focus on more important parts of the business.

She has been using Freshbooks since 2012 and she is fully satisfied with the services. She does recommend it to every self-employed person out there.

She wishes that she knew about it when she used to take up Freelancing jobs as it would have made things much easier while she was dealing with clients.

5 Tips for Self-employed People on using Freshbooks

As I said, Freshbooks is made to be used by self-employed people and it was actually made by keeping them in mind.

For them, an online invoicing software can be quite helpful and Freshbooks is much more than that.

Here are some tips which will let them use the software more effectively:

1. Set up Automatic Invoicing

One of the hardest job, when you have a business, is making invoices.

It eats a lot of your time and you actually need to focus on making the invoices professional and just.

Freshbooks makes it easier for you as it has the automatic invoicing software where you just need to put your data.

You wouldn’t need to learn new techniques for making invoices in spreadsheets. Instead, you will get professional invoice template.

Your clients will get their invoices on time and they will appreciate its quality.

On top of that, you will find it easier to store the invoices on the cloud-based software which wouldn’t eat up the storage space of your computer.

2. Set up Automatic Payments

It is a hassle to ask for payments from your clients. If you are on Freshbooks you can select the option to have credit card access which will set up an automatic payment.

This will make things easier for the client as well as for you. This makes payroll quite easy if you have other people working for you.

3. Track all the work using the software

One of the best things about using Freshbooks is that you can update your work on the software from time to time.

This makes tracking things quite easy. You can do that every hour. This saves the time that you would have spent at the end of the month of creating invoices and reports on a hurry.

This will also save you from spending extra money on hiring other people.

Making this sorted is an important thing for a Self-employed person as they have to single handedly work on things.

4. Keep track of the financial report

For a business to be successful it is important to have reports from time to time.

Reports help in evaluating the progress of the business so that one can make the necessary changes.

Freshbooks does make reports that are easy to understand and they will update you with it from time to time.

5. Try out the Free trial

If you want to try out the benefits of Freshbooks, then do try out the 30-day free trial to know about the small business accounting software.

It also offers you to sign up without a credit card. This will give you an overview of the works that you can do with the software.

What is the difference between Freshbooks vs QuickBooks?

Freshbooks and QuickBooks are both considered as accounting software for a small business which can be helpful for many.

Even though they look very similar, there are some basic differences. One of the most obvious ones lies in the prices.

In Freshbooks, you need to lay on the basis of your clients and on Quickbooks online you pay for the features as a whole.

If you are looking for updating on every single client on a daily basis, then Freshbooks can be regarded as aQuickBooks alternative.

If you are a Self-employed person, then you can make individual invoices and billing, then Freshbooks is quite good.

The interface of Freshbooks is also easier to navigate than Quickbooks. Also, Freshbooks has one of the best tracking functions out there.

Also, it is very easy to set up Freshbooks and get started with it.

Here are a few words told by other self-employed people:

  • “I’ve been using FreshBooks for 6 years and love how the design, functionality, and platform has grown with me.” Kathleen Shannon.
  • “It makes my life so much easier. I wish I had this when I first started my business.” Pat Flynn.
  • “It’s beautiful and really well designed. The invoicing, accepting online payments and keeping track of expenses couldn’t be simpler.” Roman Mars.

So, you can understand that Freshbooks is quite preceded by entrepreneurs and small business holders vs QuickBooks.

It is also relatively cheaper which makes it a good option for them.

Pricing Structure of Freshbooks

Currently, Freshbooks has 4 different price points set for their clients.

  • The lowest one is called Lite and it costs a person $15 per month. It will include 5 billable clients.
  • The next one is called Plus and it is priced at $25 per month. It includes the features of Lite and some extra things.
  • The third one is called Premium and it is for $500 and it can have 500 billable clients.
  • The fourth one is customised pricing for a person who may need more features.

In customised pricing, the person or business is given a personal account manager.

To add extra team members to any account one will need to pay $10 extra for each additional member.

For advanced payments, one will need to pay $20 extra per month. One can always get the 30-day risk free trial if they want to try out the features that they will get if they subscribe to the platform.

Freshbooks is a great invoice maker that one can have for their business.

Benefits of Using Freshbooks

1. Freshbooks is an amazing tool that can bring growth to your business instantly.

If you use it along with MailChimp or similar services, then you can be sure about the success.

Freshbooks is one of the ways which will help to sort out your business so that you can focus on more important things. Planning for the future becomes a breeze.

2. Freshbooks also eradicates any need of you to work with the card number. You wouldn’t need to work with the impossible calculations.

Free invoice templates and other features make you do away with spreadsheets. Everything can be easily done in the software very quickly.

3. Freshbooks saves you a lot of time. It is estimated that on an average, Freshbooks saves 16 hours a month.

This could be of tremendous help and a person who is self-employed can utilize this time in planning more about their business.

It is a great invoicing software that is basic and minimum.

4. Freshbooks also helps to have a clear view of the company. Through the software, you are going to get help in doing the accounts as well as they will provide you timely reports.

You wouldn’t need to consult a third party to get these helps. Also, a business can function much better when everything is sorted.

5. Freshbooks is also one of the most affordable accounting software that you can get in the market. They are charging you on the basis of the client which is very helpful.

If you have a small business that has 5 or fewer clients, then $15 per month will be sufficient and affordable at the same time.

6. Freshbooks has an easy interface, so you wouldn’t need to struggle with the software if you are new in accounting and business.

You can do things like print invoice online and print updated reports on Freshbooks.

7. The 30-day trial which is made available by the company is actually a great way to try out the features present in the software.

8. As Freshbooks is based on a cloud interface, you wouldn’t need to think much about storage as it wouldn’t take up space on your computer, tablet or mobile phone.

Cons of Freshbooks

1. I wouldn’t recommend you to use Freshbooks if you have a large business like real estate, where you have to intricately deal with each and every client. Freshbooks is still not ready to take it that far in terms of automation.

2. When I was researching for this review, I found out that Freshbooks still lacks some advancements that are needed in the world of accounting these days. The interface may also appear a little backdated for that matter.

Over to You

In all, I can say that Freshbooks is a great cloud accounting software that can be utilised by self-employed people.

If you are someone who was looking forward to making the accounting job easy, then do read more about Freshbooks.

I will recommend you to take up the 30-day trial.

If you have found this information helpful, then do share this with your friends, family, and acquaintances so that they are aware of the software.

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