Freshbooks vs Quickbooks

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Finding the right business accounting software for your business is crucial because you have to pay attention to your business finances. It’s important to make sure your business is not spending more than it’s earning. 

Because of that, you may be looking at different accounting software, including FreshBooks and QuickBooks. They are both incredibly popular options, and you may be wondering which one would be the best option for you.

Here are my thoughts on FreshBooks vs QuickBooks, and which accounting software you need for your business. 

FreshBooks vs Quickbooks Features 

Features can make or break a piece of software. So, let’s look at what features FreshBooks and QuickBooks offer. 

FreshBooks Features

FreshBooks has many features that make it an easy-to-use accounting software. 

Cloud-Based

FreshBooks is cloud-based, which means you don’t have to worry about losing your important information or not being able to find it. 

Easy To Use Dashboard

FreshBooks has an attractive and easy to use dashboard. From your dashboard, you’ll be able to view all of the financial information in your business easily. You’ll also have quick access to reports you may need. 

Invoicing Features

FreshBooks already comes pre-loaded with two invoice templates. But you can customize them to fit your business. That includes changing colors, fonts, and adding your logo. Also, you can use the invoicing features to charge a deposit, copy an invoice, and charge sales tax. 

As a Plus or Premium FreshBooks user, you’re also able to send reminders, charge late fees, and set up recurring invoices.

Client Portal

With FreshBooks, you’re able to create a portal for each of your clients. Clients can accept estimates, save, print, and comment on them. They can also pay and print their invoices, as well as write messages on them. 

Client Info

The client management tab in FreshBooks makes it easy for you to create new clients, add information, and archive them if you need to or if you’re no longer working with them. 

Give Estimates and Proposals

FreshBooks allows you to create and send estimates to potential clients. You can also turn any estimate into an invoice with the click of a button.

If you need to create a proposal, you can attach images or any other attachments, create a scope of work, add in a timeline, and include the final pricing for it all. You can also include a contract on the proposal. The client can sign the proposal and contract, and you can turn the proposal into an invoice.

Expense Tracking

You can add expenses in manually or connect FreshBooks to your business bank account for expense tracking. You can also attach and track receipts.

Time Tracking

FreshBooks has a built-in time tracking system that can be helpful if you work with clients on an hourly basis. You can attach that time to certain projects and clients. You can also manually log time and record unbillable time for your records.

Reporting

A few reports that FreshBooks offers include invoice details, expense reports, accounts aging, profit & loss, and a sales tax summary.  

Multi-Currency Support

FreshBooks offers support for over 150 currencies. You don’t need to be US-based to sign up with FreshBooks. You can work with clients all over the world.

Related Post: FreshBooks Review

QuickBooks Self-Employed Features

QuickBooks has two different options, one being QuickBooks Self-Employed (a great option for entrepreneurs or new business owners). And the other being QuickBooks Online (a more robust option). So let’s explore the features of both.

QuickBooks Self-Employed has several features to make it easy to use for entrepreneurs and new business owners.

Cloud-Based Software

QuickBooks Self-Employed is completely cloud-based. So you can access your information anywhere. 

User-Friendly

QuickBooks Self-Employed is super easy to use. And the dashboard, reports, and more are all user-friendly. 

Dashboard

The dashboard is easy to use and attractive to look at, without being overwhelming. 

Multiple Invoicing Options

Invoicing options include invoicing hourly, by item, and flat rate. You can also accept payments via PayPal, check, credit card, or ACH transfer.

Related Post: 7 Easy Ways to Decrease Your PayPal Fees

Income & Expenses Tracking

You can track your income and expenses easily with this software. All you have to do is connect it to the bank accounts you want to track. And you can also connect other accounts like PayPal and track income and expenses manually.

Mileage Tracking

If you drive for your business, you can track your mileage and take advantage of mileage deductions. You can do this via the app or tracking manually on your computer. 

Quarterly Tax Payments

QuickBooks will automatically calculate your income, expenses, and more to come up with quarterly tax payments. And, you can then pay them directly through the QuickBooks Self-Employed website, as long as you have an Electronic Federal Tax Payment System (EFTPS) pin. 

Reports

QuickBooks Self-Employed offers a few reports, including profit and loss, tax summary, receipts, and tax details reports. 

End of the Year Tax Checklist

Around tax season, QuickBooks will provide you a tax checklist. This is their 12-step process to help you get your information ready for tax season.

Related Post: QuickBooks Self-Employed Review

QuickBooks Online Features

QuickBooks Online doesn’t have all of the features that QuickBooks Self-Employed has, like mileage tracking and the ability to pay taxes online. However, it does have a few key features that make it a more robust accounting software, including: 

Inventory Tracking

If you sell physical or online products, you can track inventory with QuickBooks online. 

Payroll Service

This is a feature that is perfect for growing businesses. Also, you can add employees and contractors and pay them easily. You’ll also get access to payroll reports. 

Bill Management

You can track, add, and pay all of your bills online easily. 

Related Post: QuickBooks Online vs QuickBooks Self-Employed

FreshBooks vs QuickBooks Pricing 

Freshbooks and QuickBooks have similar features, although there are some differences in which features are offered by one or the other. However, for many business owners, pricing is one of the deciding factors when it comes to paying for services and software. So let’s talk about FreshBooks vs QuickBooks when it comes to pricing. 

FreshBooks Pricing

Lite:  The lite tier is the smallest tier and is $15/month. This plan includes: 

  • Up to 5 billable clients at one time
  • Unlimited time tracking and invoices
  • Credit card payment options
  • Automated bank imports 
  • Tax time reports 
  • 1 user included, with the ability to add team members for an additional $10/person/month

Plus:  The plus tier is $25/month. This plan includes:

  • All Lite features included 
  • Up to 50 billable clients at one time
  • Unlimited proposals
  • Automated recurring invoices
  • Double-Entry accounting reports
  • Automated late payment reminders 
  • 1 user included, with the ability to add team members for an additional $10/person/month

Premium: The premium tier is the highest and most expensive tier at $50/month. This plan includes: 

  • All of the Lite and Plus features 
  • Up to 500 billable clients at one time
  • 1 user included, with the ability to add team members for an additional $10/person/month

FreshBooks does include a free 30-day trial, and no credit card is required to start a trial. They also offer monthly and yearly subscription options, with a 10% discount if you choose the yearly subscription.

QuickBooks Self-Employed Pricing

QuickBooks Self-Employed: This is the first of two pricing options for QuickBooks Self-Employed. It starts at $10 a month, but you can use my link and get started for just $5 per month for the first 3 months! This plan includes: 

  • Automatic mileage tracking via the QuickBooks app 
  • The ability to separate business and personal expenses 
  • Options to maximize your Schedule C deductions
  • The ability to send and track simple invoices
  • The option to be paid via credit card, PayPal, and more 
  • Invoice reminders
  • Unlimited clients and customers 

QuickBooks Self-Employed Tax Bundle: The next option is the Self-Employment Tax Bundle tier. This tier starts at $17 a month, but you can start for just $12 per month for the first 3 months when you use my link! This plan includes: 

  • All of the QuickBooks Self-Employed features
  • Ability to pay quarterly estimated taxes online 
  • The option to file your taxes faster by exporting Schedule C to TurboTax Self-Employed
  • One federal and one state tax return filing for free every single year via TurboTax (which can save you $87 each year!)

QuickBooks Online Pricing

Simple Start: This plan allows you to track sales tax, integrate with e-commerce tools, create customized estimates, and more. You can get started for $25/month.

Essentials: The Essentials plan offers the same benefits of the simple start plan. Also, it offers time tracking, more report options, the ability to manage and pay bills, and payroll. The Essentials plan costs $40/month.

Plus: With this plan, you’ll get all of the options from the lower tiers, as well as inventory tracking for $70/month.

QuickBooks Online offers a 30-day free trial and you can get 50% off any plan for 3 months if you use my link to sign up.

Other Deciding Factors 

If you’re still unsure about which accounting software to choose, here are a few other deciding factors that can help you decide. 

FreshBooks 

Customer Service & Support: FreshBooks has one of the best customer service options in the industry. And I say this because I’ve used them personally for years.

Here is how you can contact their customer support. 

  • Phone: Monday through Friday from 8:00 am – 8:00 pm EST.
  • Email: You can contact FreshBooks via email if you have an issue that isn’t super urgent.
  • New User Webinars: After signing up with FreshBooks, you’ll get a complete walkthrough, and some introductory webinars to help you use the software to the best of your ability.

Security:  FreshBooks is incredibly secure. So, you don’t have to worry about your information being stolen. It’s protected with 256-bit SSL encryption. So your data is stored securely behind Cisco-powered firewalls.

Also, any data that you have in your account is backed up nightly and then stored in a secure offsite location. Because of all of this, there is nothing to worry about when it comes to your information. It’s as secure as it could possibly be. 

QuickBooks

Customer Support: QuickBooks Self-Employed also has quite a few options for customer service. They even have a live chat option if you don’t like talking on the phone. 

  • Phone: Monday through Friday from 6:00 am – 6:00 pm PST.
  • Live Chat: Their customer service via chat is the same as their phone service. Plus, Saturday’s from 6:00 am – 3:00 pm PST is available. 
  • Community Forum: If you don’t mind searching for an answer on your own, this is a great option. 
  • Contact Form/Email: If you can’t get ahold of anyone, you can always email QuickBooks via their contact form. They typically respond within one business day or two. 

User Support: QuickBooks offers the option to support up to 10 different users on your plan. So unlike FreshBooks, you don’t have to pay extra each month if you have other people logging into your accounting service. 

Integrations: FreshBooks only offers about 200 integration options. But, QuickBooks allows over 500 integrations with many other software options and companies. If you have quite a few services or subscriptions that need to be integrated with your accounting software, QuickBooks is the best option. 

FreshBooks vs QuickBooks Summary

So, who wins Freshbooks vs QuickBooks? Both are great options. However, the choice you make will depend on what you want from your accounting software. It will also depend on what your business needs and what you can afford.

Which Accounting Software Do I Recommend?

I am a FreshBooks user, but, you can’t go wrong with either option. Because both FreshBooks and QuickBooks offer free trials, you can always try it out and switch if it doesn’t work for you. 

However, if you’ve used one of these accounting options for a while and then decide you want to switch, I would recommend waiting until a new fiscal year. (Trust me. I switched mid-year once and it was awful!)

But, it doesn’t matter which software you choose. Just choose what works best for you.

What do you think? FreshBooks vs QuickBooks? Which do you use and why?

Finding the right accounting software for your business is crucial. Here is the rundown on Freshbooks vs Quickbooks, and which accounting software to use. #accountingsoftware #bookkeeping #onlinebusiness #bookkeepingsoftware
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