Freshbooks Vs Quickbooks – Which Accounting Tool Is The Best For Your Business?

Freshbooks Vs Quickbooks

 

As a businessman, everyone wants their business to run smoothly and for this accounting software is the best. These can easily convert your working life. Two of the most famous accounting tools that are available are QuickBooks and FreshBooks. Both tools are powerful and work very efficiently, they work best in different cases. Go through the below-mentioned points of FreshBooks Vs QuickBooks and find which tool is the best for your business. 

Here are some of the points-

  1. Most of the people think that FreshBooks and QuickBooks are designed for the same purpose, but it is a misconception.
  2. FreshBooks is meant to work for the service-based businesses and for solopreneurs and freelancers, who require a way to track revenue and expenses for simple reports. 
  3. QuickBooks is meant to work for the companies, which sell products and need fully-fledged, scalable accounting software.

As the name is suggesting, both products perform the kind of same functions with a little bit difference, users must compare features of FreshBooks Vs QuickBooks before choosing the right accounting tool for you. Though there are a lot of common features, but the way of working for both software is different. For instance, QB is used by businesses of all sizes and FreshBooks is for freelancers and small businesses.

Check out this blog and select the right tool as per your business needs.

Expense tracking

The main focus of FreshBooks is payment collection and invoicing. That’s why users may require to connect to or buy another accounting software anyway. Having said that, it does offer some exceptional features such as sales tax management, project time tracking, and receipt tracking.

QuickBooks supports both credits and debits, which help you to be aware of profit margins at every step. You may have to make some manual entries on your part or your accountant’s part as QB is designed to display line-items instead of some nuanced breakdowns. If you are using QB, then you must keep checking QuickBooks upgrade to use the updated features.

Invoicing

QB connects users to some outside time tracking apps such as TSheets to track billable hours and Google Calendar. QB offers plenty of customization features so that you can completely control the design of your invoices before sending them to clients. On your invoice, don’t forget to include a click-to-pay button so that your clients can pay directly from the invoice. You can also set recurring payments and reminders directly from this platform. 

For online invoices, FreshBooks provides a click-to-pay button and a customizable invoice design. Users must make sure to mark their hours as “billable,” so that the invoices can pull data from the timekeeping feature directly. Automations are also available in this that include automatic invoicing of billable hours, recurring invoices, and follow-up emails for delayed payments. You can anytime call on the FreshBooks customer service number to avail instant assistance. 

Accounting

With QuickBooks, you can keep track of your accounting in a much easy way. There are certain features that make your work easy such as double-entry accounting, which helps to organize cash flow and balance your sheets. A common problem that QB users face is that it has plenty of features, which makes it difficult to learn. Users must have a healthy amount of bookkeeping and accounting knowledge to use this software. Once you get aware of every feature of QB, then you can balance your sheet at much less time. If your accountant is also using QuickBooks, then you can directly share data with them.

You don’t have an accounting fully automated balance sheets form, but if you want to do some work, then you can fill out balance sheets by entering your own data. This may take much of your time as it depends upon the number of projects and clients you are running at a given time. Compare FreshBooks Vs QuickBooks Online and pick the software as per your needs.

Before making any choice, read all these points carefully, and find out which software will be the best for your business to grow. Choose wisely and get ready to enhance your business productivity.

Related post – QuickBooks Enhanced Payroll

Leave a Reply

Your email address will not be published. Required fields are marked *