Small Business Tools – Freshbooks – A Great Billing Solution

March 8, 2012
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Freshbooks has a compelling reason for a small business to switch their billing and time management over to them; recent research shows that if you do you’re likely to get paid on average two weeks earlier than with any other billing solution.

With cash flow being the key to business success particularly for the small business it’s timely to check out some of the features that Freshbook’s offers you:

Invoices

  • Automated Billing – charge client credit cards automatically on set cycles
  • Multiple online payment vendor support – you’re not restricted to PayPal
  • Full secure backups of all data
  • Multiple currency support – invoice your clients anywhere in any currency
  • Trigger invoices based on set criteria (time spend on a project or expenses, etc.) – the system even allows you to send them by post if necessary

Time Tracking

  • Track time spent on a project by each team member
  • Get real time updates and project reports
  • You can share this information with clients online, without sharing other data too
  • Use the “minibooks” application to track this from your mobile phone

Expenses and Estimates

  • Create and send estimates to clients
  • Track expenses and if you like share them with clients so they can monitor the project’s progress

Reporting

  • Track staff for their profitability and contributions
  • Analyze customers and projects to see which are most profitable

Contractor Management

  • Bring contractors on board and enable real time tracking of progress and contribution to the project
  • Receive and manage contractor invoices

Branding

  • Design simple easy to use branded templates for all your project communication

Add Ons

  • Support from multiple developers for handy plugins that increase functionality

Support

  • Round the clock helpdesk support
  • Blog offering advice and ways to extend the usefulness of the service

All of these features are great, but the big question is – does Freshbooks do what it says on the tin, in a way that is useful for your business?

Yes, it does and at affordable prices ranging from a free account, which offers basic services and the facility to support up to three clients through to the fully featured option with unlimited client support and a second user license at only $40 a month.

There are many competitors to Freshbooks, and to be fair when it comes to straight invoicing solutions many of them do equally as good as job. But where Freshbooks excels is its ability to integrate with multiple platforms and offer mobility solutions that are second to none. Examples include; time-tracking across Android, Blackberry and iPhone interfaces. It provides links to small business accounting sites like Xero and Outright. You can even import leads from Setser and TypePad.

And there are the reporting options, which are abundant, ensure that you can view your data in a number of ways from classic accounting reports (like profit and loss) through to individual but similar data entities across different projects for sensible comparison testing.

Freshbooks is a great value way to make the most of your invoicing while managing your projects at a sensible price.

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