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Smart money management is an essential part of any business. It doesn’t matter how big or small your business is, even if you are a freelancer.
You need to know where each dollar is going so you can make the best decisions to grow your business.
When I first started blogging, my accounting system was a drawer full of post-it notes and scrambled receipts and a calculator. I knew that it was wrong, but I just could not afford an accountant at that time.
I decided to take things more seriously after my blog began to grow, so I switched to an Excel spreadsheet. It looked way better, but it took me hours to organize everything, and it was impossible to analyze the numbers quickly.
You need to take accounting seriously if you want to grow your business, even if you are a freelancer.
FreshBooks was the perfect solution to my accounting problem. My favorite part about it is that it is so easy to use and elegant that you feel your business is already at the next level.
Are You Afraid of Accounting?
Recently, FreshBooks conducted a study showing that almost 70% of small business owners are intimidated by accounting software. And I completely trust that number because I was one of them when I just started. I was afraid to make a small mistake that could ruin everything and make me pay a lot more in taxes.
It is also common to believe that you need to have some knowledge level in accounting to be able to use this kind of software. And when you put together the fear of making a mistake plus not knowing how to use this kind of software, you just end up paralyzed.
I never had an accounting background, and even now I’m no expert, but I don’t have that anxiety using this kind of software.
FreshBooks just make the whole process natural and presents you the information in a way that anyone can understand.
7 Reasons You Should Try FreshBooks
1. You can create PROFESSIONAL invoices for clients.
One of my favorite features is that you can create professional and elegant invoices with only one click. All you need to do is to fill the sales information, and the format is automatically created for you.
You don’t have to worry about creating a template. The professional presentation FreshBooks provides is a huge boost to your thrust factor.
Plus, you have a feature that lets you know when your client has seen your invoice.
2. Record YOUR expenses.
Before I started an online business, I tracked all my expenses on a notebook in a drawer full of scrambled recipes.
After that, I started using Excel spreadsheets to keep a record of everything. It worked well, and it was really organized, but it took me a lot of time to do it properly.
FreshBooks offers the best way to organize your expenses I have ever seen. It is very intuitive, and you can setup recurring expenses making the accounting job easier for you.
3. Accept Credit Card Payments
Offering a variety of payment methods to your customers is always beneficial to make more sales.
You have the option to accept credit card payments directly with FreshBooks where you can withdraw your earnings directly to your bank account.
You’ll have everything you need in one place to create your income report by the end of the month.
4. Track your time
You have a feature to track the time you have worked for a client or in a specific project. This is really useful, especially for freelancers or team managers.
I usually use the time tracker when I have a big project. That way, I can decide how to organize my smaller tasks.
5. Your accounting needs in your pocket
The mobile app allows you to use all the main features wherever you are from your smartphone.
If you get an email from a potential client at the queue at Walmart, you would be able to send them an estimate right there from your app.
6. Easy client management
You can keep track of all your clients in a single place, without having to worry about creating spreadsheet formulas, or keeping track of the payment dates. FreshBooks does all of this for you, all you need to do is to enter your client information and you are done.
7. Clear reporting
Freshbooks generates reports like balance sheet, sales tax summary, profit & loss, and charts of accounts.
I no longer have to spend entire nights comparing invoices to bank account movements and my smartphone calculator. The reports are straightforward to understand, even if you don’t know anything about accounting.
What About The Price?
The Lite version starts at $15 a month and includes all the necessary features for self-employed entrepreneurs and allows you to have 5 billable clients.
The next upgrade is $25, and it is aimed for small businesses with 50 billable clients. You can pick the package that fits the best to your needs.
The Lite version is just perfect for blogging; it includes all the features I mentioned in this blog post.
It is essential to have accounting software to make smart decisions to grow your business. FreshBooks is intuitive and easy to use. It offers you powerful reports and insights into your transactions that are easy to read.
See for yourself how easy and straightforward is to manage your accounting with this software.