FreshBooks review: Pricing, top features and alternatives

FreshBooks is cloud-based accounting software. Small business owners and freelancers can use FreshBooks to manage their invoices.

The software has integration with more than 100 different apps. These apps can help streamline the day-to-day management of your business.

You can create professional-looking invoices, organize your expenses, and track your time.

This FreshBooks review will cover:
FreshBooks overview FreshBooks pros and cons FreshBooks pricing FreshBooks accounting features Does FreshBooks offer payroll? Is FreshBooks safe? FreshBooks alternatives Manage international payments with Wise

Get international invoices paid with Wise

FreshBooks review: Overview

More than 24 million people have turned to FreshBooks for their accounting needs worldwide. The software is used in over 160 countries.¹

FreshBooks offers a variety of useful tools for taking care of your business’s financial obligations. You have access to FreshBooks invoicing, an expense management system, and hour logging.

FreshBooks is great for small business owners and freelancers. It can also be a good option for businesses with employees or contractors.

The software is full of valuable features for accounting, such as customizable invoice templates. Users can experiment with different colors and fonts, and change the logo and header to reflect their brand image.

If you opt for the Plus or Premium plans, you can send reminders, establish recurring invoices, and even charge late fees through the software.

Where FreshBooks falls short for some users is the price. FreshBooks payments can be steep for some. Monthly plans range between $15 to $50 a month.² That said, there are often promotional discounts that can be applied.

QuickBooks Online is more expensive, but is a comprehensive accounting package with more features. Another option, Wave, offers invoicing and accounting services for free, charging only for online payments.³

FreshBooks pros and cons

FreshBooks has a good reputation among many business owners and freelancers, but what do the users of this software have to say about it?

Here are some pros and cons as mentioned by customers on the review platform TrustRadius:⁴

Pros	Cons
FreshBooks offers international payments for growing businesses It’s easy to create invoices, which speeds up the process Invoice templates help business owners create a strong brand identity The intuitive interface makes navigating the software a breeze Third-party app integration facilitates processes such as payroll	The software plans are pricey compared to the alternatives It lacks certain features which makes it hard for some to fulfill all their accounting needs

FreshBooks has a ‘Help Center’ where you can find out more information about its apps and services. You can chat with the customer support team online or over the phone. However, there is no 24/7 phone line.⁸

Overall customers appear to be satisfied with FreshBooks customer service. Some reviews highlighted issues when it came to resolving more complicated queries.

From 613 reviews on Trustpilot (an independant review site), FreshBooks has an overall score of 4.0 out of 5.⁹

FreshBooks pricing

The fees shown here are the full-price packages. It’s worth checking the site as there are often promotions and discounts that can be applied.

Plan	Fee²	Features
Lite	$15/month	5 billable clients Send unlimited invoices Track unlimited expenses Send unlimited estimates Receive payments with credit cards and bank transfers Monitor sales tax and access reports Available on iOS and Android
Plus	$25/month	Everything the Lite plan offers, plus: 50 billable clients Automatically track expenses Send unlimited estimates and proposals Create recurring billing and client retainers Access business health reports Double-entry accounting reports Connect with your accountant Track miles with your mobile
Premium	$50/month	Everything the Plus plan offers, plus: Unlimited billable clients Track bills, bill payments, and vendors with accounts payable Monitor project profitability Customizable email templates, signatures, and dynamic fields Automatically send late payment reminders and bill late fees Receive payment with checkout links Access financial and accounting reports

There are add-ons for each FreshBooks price plan, too. You can add advanced payments, team members, and Gusto payroll for an extra monthly fee.

FreshBooks also offers a ‘Select’ option which allows you to customize a pricing plan for your specific business needs.

Is FreshBooks free?

While there is no free monthly subscription for FreshBooks, you can sign up for a free 30-day trial as a new customer.²

You don’t need to enter your credit card or contact information for this free trial. FreshBooks offers email and phone support to help you set up your account free of charge.

If you decide not to switch to a paid plan, your data will be securely stored in the FreshBooks software in case you change your mind.

Additional costs when using FreshBooks

There are also FreshBooks transaction costs to bear in mind if you plan on using the software.

So what percentage does FreshBooks take?

FreshBooks credit card fees are 2.9% plus an additional $0.30, excluding American Express which is 3.5% plus $0.30 instead.⁵

For international transactions, the fee is the same as the domestic transaction fee, but an extra 1% charge is added.

	Visa/Discover/Mastercard Credit and Prepaid Debit Cards	American Express Credit and Prepaid Debit Cards
Transaction fee⁵	2.9% + $0.30	3.5% + $0.30
International transaction fee	2.9% + $0.30 + 1%	3.5% + $0.30 + 1%
Advanced Payments Fee	3.5% + $0.30	3.5% + $0.30

💡 You can make sure you always get the real, mid-market exchange rate when you pay with Wise Business.

FreshBooks accounting features

Here are some of the features mentioned in FreshBooks accounting software reviews, and how they could be useful to you:

Customizable invoices

FreshBooks allows users to create customizable invoices, to which they can add their logo. This helps build the brand image and create a strong brand identity. You can also send out reminders to your clients and automate the invoice process depending on the pricing plan you choose.

Time tracking

You can use FreshBooks as a valuable productivity tool to let you know if you’re on track to meet your goals. Simply start a timer, and get on with the task at hand. At the end of it, you’ll have an accurate time log that you can add to the invoice.

Expense tracking

With FreshBooks, you can track your business expenses by syncing your bank account or credit card to the software. You can also easily upload receipts that FreshBooks will store in the cloud.

Project management

Streamline your work efforts by inviting contractors, employees, or business partners to manage projects and share documents. FreshBooks allows users to store files in a single online location, allowing different departments to easily access what they need.

Custom estimates

Create custom estimates, which you can then send out as invoices. You can also customize your own proposals, with various factors such as the scope of the project, the timeline, and deliverables.

Accounting reports

Every business owner likes to know if the company is on track to hit its goals. With FreshBooks, you can gain access to key insights with the accounting reports the software generates.

Mileage tracking

You can track your mileage using the FreshBooks app, which helps you stay on top of your taxes.

Multi-currency accounting

You can also make the most of FreshBooks’ multi-currency accounting tools that let you do business on an international scale.⁶

Track your invoices and expenses for overseas clients in one place, and choose the relevant currency for every expense.

You can even send your clients an invoice in their own language.

If you receive payments in multiple currencies, try Wise Business. You can manage all your currencies from one account, and exchange at the real, mid-market rate.

Does FreshBooks offer payroll?

No, FreshBooks doesn’t offer payroll services in-house, but it does offer integration with Gusto.

With an additional monthly fee on top of the pricing plan you choose, you’ll be able to use Gusto, which offers full-service payroll and extra features such as insurance and retirement plans.

If you’re looking for an international payroll solution, Wise Business can save you hours of admin with batch payments. You can run payroll at the real exchange rate, and send as many as 1,000 payments in a single click.

Is FreshBooks safe?

FreshBooks has several security measures and safeguards in place to protect user data. This includes 256-bit SSL encryption to keep your interactions with the website private, and a firewall for the FreshBooks app.⁷

FreshBooks’s data centers are protected with constant surveillance, biometric access controls, and more, so data leaks are unlikely.

Your data is also held across several database servers in two different geographic locations. It’s sufficiently backed up if something were to go wrong on the company’s end.

So is FreshBooks safe? It’s safe to say so, yes.

FreshBooks alternatives

There are several alternatives to FreshBooks if you’re interested in other accounting software options.

Provider	Key features	Great for
Quickbooks	4 pricing plans Works with many third-party apps Payroll service based on company size Multicurrency feature for international transactions in different currencies Business insights and analytics Custom invoices Expense tracking	Small business owners who need a comprehensive service for their accounting needs
Xero	3 pricing plans Pay bills Claim expenses Connect to your bank for useful insights Receive payments Manage projects Compatible with Gusto for payroll services	Small business owners looking for easy accounting and detailed reports
Wave	Free to use except for payments Automated bookkeeping Cash flow reports Unlimited income and expense tracking Custom invoices in any currency Send estimates Payroll service	Small business owners and self-employed workers looking for free accounting software

Is Wave better than FreshBooks?

As with all accounting software, the best option for you will be the service that best fulfills your business needs.

With that said, Wave and FreshBooks are two popular accounting software options. Here are some points of comparison to help you make a decision:

Wave is free

Not many accounting software options are available for free, but Wave is one of them. You’ll have to pay for online payments, but other than that, you’re free to use the software without spending a dime.¹⁰

FreshBooks offers more integration options

FreshBooks has a more extensive list of integration options than Wave, pairing with the likes of Gusto, Shopify, and Stripe.

Wave offers a payroll service

With Wave, you can use a payroll service to pay your employees for a monthly fee. While FreshBooks is compatible with Gusto, it doesn’t offer its own payroll service.

FreshBooks is suitable for any size business

While Wave is a great option for small business owners and freelancers, it can’t accommodate large businesses in the same way FreshBooks can.

Manage international payments with Wise

After reading this FreshBooks review, you’ll hopefully be able to decide if it is the right choice for you.

Whichever accounting software you choose, you’ll want to have a system in place for getting paid on time - whatever the currency.

Get paid with Wise Business

If you have international customers, Wise Business can be the stress-free solution to manage different currencies.

With Wise Business, you can get local account details, such as a UK sort code, even as a US citizen. This makes it easier for customers to pay you.

With batch payments accommodating up to 1,000 people, Wise Business is a solution for international payroll.

Register for free, and see how Wise Business can help you save time and money.

🤓 Read more accounting software articles
Invoicing software: Small-business invoicing and billing What is Quickbooks, and how does it work? Xero accounting review

Sources:

1. FreshBooks: Invoice and Accounting Software
2. FreshBooks pricing
3. Wave Pricing
4. Pros and Cons of FreshBooks 2021
5. What are the transaction fees for FreshBooks Payments?
6. Multi-Currency Accounting Software
7. FreshBooks security safeguards
8. FreshBooks contact
9. FreshBooks - Trustpilot
10. Wave Financial: Financial Software for Small Businesses

All sources checked 19 October 2021.