Accounting software will revolutionise your working life as a small business owner. It’s the simplest way to keep track of money coming in and out, bill clients, and process the books at the end of the year. There are additional advantages of using accounting software if you’re a freelancer or an agency: you’ll know exactly how much time you’ve spent on each client and project, and you’ll be able to process invoices when it’s time to bill quickly. FreshBooks and QuickBooks are two of the most common accounting software for small businesses. Although they are both valuable tools widely used for good purposes, they are better suited for various use cases and companies’ styles.
FreshBooks: FreshBooks, established in 2003, has grown into an “all-in-one small business invoice and accounting solution” that allows entrepreneurs and small teams to spend less time on accounting and more time doing what they enjoy. FreshBooks’ feature set for invoicing, expenditures, time monitoring, tasks, projections, and more is highly user-friendly. FreshBooks’ customer service squad is adored. According to one long-term user, FreshBooks support is compassionate in rare instances when it is needed. They have a website contact form, a human-assisted email address, and toll-free phone numbers.
Through your support key, you can easily grant the FreshBooks team safe access to your account so they can make any necessary changes or assist you with setup. FreshBooks is also known for its generous return policy, which allows updates and downgrades a breeze.
QuickBooks: QuickBooks is part of the Intuit product family created in 1983 and is one of the most well-known accounting platforms on the market. When we speak about QuickBooks in this article, we refer to QuickBooks Online, Intuit’s cloud-based accounting platform, rather than the desktop edition. QuickBooks is a fantastic all-in-one accounting and invoicing solution. There are no significant holes, and if there are, other QuickBooks items, such as QuickBooks Point of Sale, will fill many of them. As a result, you’ll be able to get away with a smaller app stack.
On the other hand, FreshBooks is targeted at a smaller group of people: freelancers, small companies, and solopreneurs searching for easy-to-use apps. You’re more likely to need to sync FreshBooks with other resources to achieve specific custom outcomes, so it removes ambiguity, but this is easy to do.
Pricing Comparison of FreshBooks vs QuickBooks
FreshBooks and QuickBooks are inexpensive accounting software for small companies and solopreneurs, but their costs vary depending on their size and the features you need.
QuickBooks: Essentials, QuickBooks’ entry-level package, begins at $25 a month and includes all of the essential features for small business accounting, including monitoring revenue and expenditures, recording and arranging receipts, invoicing, receiving payments, and reviewing key reports and metrics. The biggest downside of QB Essentials is that it only allows for one person. The Plus plan, which costs $70 a month and will enable you to monitor time and inventory and access further reporting, including project profitability, is needed.
The most expensive QBO package, Advanced, costs $150 a month. Batch invoices and expenditures, automatic approvals and reminders, management reports and fields, and custom reporting fields are all available. Payroll is available as an add-on to any package for $45 + $4/employee/month to $125 + $10/employee/month, depending on the features you need.
FreshBooks: FreshBooks Lite, the company’s entry-level package, costs $15 a month, making it less expensive than QuickBooks Essentials. This plan has many benefits for freelancers, and small teams, particularly the unlimited this plan has many benefits for personalised invoices, expenditures, time tracking, and estimates. FreshBooks is an excellent option for time monitoring on a budget. FreshBooks has a limitation on the number of billable clients per plan. The Lite plan allows you to handle and invoice just 5 customers, which is insufficient for most companies. However, the Plus package, which costs $25 a month (the same as QuickBooks’ basic plan) and provides unlimited proposals and annual invoices, increases this to 50 clients. FreshBooks Premium can handle up to 500 users.
FreshBooks is a better option for small and one-person companies, while QuickBooks is a better all-around accounting method for businesses of all sizes. Be sure to align your accounting tool with the rest of your app stack, no matter which one you pick. The whole idea of the blog is to give you a perspective of both the accounting software and help you to choose between both the accounting software. I hope that this blog helps you in some way or the other and was worth your time.