The first few years of my business, I would buy the newest version of Quickbooks Pro whenever I had to. This was long before Quickbooks online came to be. I always found it a pain in the ass to work with and hated how clunky it was. Someone I met through networking here in Seattle started doing a monthly lunch called “My Power Lunch”. This was an eclectic group of small business owners that would meet downtown, enjoy a great lunch together, and give each other tips. That’s how I learned about Freshbooks.
Freshbooks is a cloud based accounting service. That means you have it on any device you want. Here are the features I love the most:
- Adding new clients is super easy
- You can create recurring invoices for subscription services
- You can convert an estimate to an invoice with ease
- Time tracking makes invoicing easier
- Reports are varied and easy to run
- Clients can pay via credit card or PayPal
- You have the option to snail mail invoices for tardy clients
The one thing I’m not a fan of is expense tracking in Freshbooks. They don’t allow you to manage categories well and transfers show up as expenses. I’m always making transfers between business savings and other checking accounts, so my snapshot of profit is always off. I have opted to not us the expenses portion of this and use Quickbooks Self Employed for my expenses reporting.
Sure, I’d love to have this all in one place, but with some services it can be really hard to find the one-size-fits-all answer. If you are just starting out, make sure you immediately get your expenses out of your personal banking and into an account for your business. It will make your life so much easier (and your accountant will be happier, too).
What do you currently use for accounting? Please share!
RESOURCES: PC Magazine – The Best Small Business Accounting Software of 2018