*This post contains some affiliate links where I may receive a small compensation if you purchase through them. If you do make a purchase, thank you! I may also receive a small compensation for writing this review, but this service is something I use regularly, I can highly recommend, and is an integral part of my business.
While helping other small business owners with their tasks and projects, it’s easy to neglect my own and one of the things that really took up so much time as a small business owner myself was sending out invoices, tracking time, creating reports, sending reminders among other things.
For your small business, I highly recommend using an accounting software to help you manage and automate this very important part of your business! I can’t imagine how much time I would have wasted doing everything by hand had I not jumped in and started using FreshBooks for my business.
So what do I love about FreshBooks?
- It Automates a lot of my billing and accounting. I can set it to send reminders to my clients and even charge late fees with compounding interests for invoices that are past due. I can track my time, tailor my fees depending on my contracts and bill accordingly. I even upload my receipts for my expenses and set up recurring expenses. When tax time comes, I will just print out the reports from FreshBooks and send it to my tax lady!
- You can see the Reports of the different aspects of your business. How much are you spending vs. how much you are earning? How much are you estimated to make if you bill your clients for all the hours you’ve worked? FreshBooks even shows you which clients and invoices are taking long to get paid.
- Some Other Neat Things FreshBooks can do:
- You can see if your clients have opened your invoices. This way, you know if your invoice went through or not.
- You can integrate more than a few payment gateways. FreshBooks has their own, but you can also integrate PayPal, Stripe, Braintree and more.
- They have a smartphone app which is nice because sometimes even without my laptop I can still do some work on my phone. With the app, I can track and log my work easily.
- You can send estimates and even get deposits ahead of time when you send an invoice.
Is FreshBooks right for everyone? If your needs are more complicated, if say, you have a very large eCommerce site and ship physical products, then FreshBooks may not be enough but for a small business like mine that is service or digital products based, then it’s amazing at what it does! What do you use to help with your accounting?