Since starting this website I have had a bunch of new business items come up. Getting ready for tax time this year made me realize that I need to get some systems in place. Otherwise I’ll be wasting a ton of time in a year organizing and recording things. While I love writing and freelancing, getting around to my bookkeeping falls somewhere in between “later” and “never mind”. Which usually ends up as a “Yikes!!!! Now it needs to get done”.
What is Freshbooks?
FreshBooks is an online accounting software that helps millions of non-accountants (i.e. small business owners and entrepreneurs) make invoicing, expense tracking and managing their books a breeze. They make it easier for small business owners to keep track of their expenses. I’m giving their 30-day free trial a go to see how I like it.
What to look for in an accounting package?
When you start out with a new business there are a ton of things to consider and keep track of. Recording your start up expenses, daily and monthly expenses, tracking time, invoicing, making sure you are getting paid and knowing if you are actually making a profit along the way. When it comes to these Freshbooks has you covered. For me, to begin with, I just want something to invoice my clients with quickly and professionally.
The biggest part of your business blood is your cash flow. A business without a steady stream of cash coming in will eventually die. Trust me I have been there before. They say that 90% of business that fail in the first 5 years are from a lack of cash, and I can attest to that. I’ve seen it time and time again with small businesses. A big part of this is not getting around to invoicing. Freshbooks made this easy, within a few minutes you can set up a new client and send off an invoice. The invoice looks great and it gives them the option to pay electronically right on the invoice.
Freshbooks uses Paypal AND Credit cards to collect payments so it’s a snap. The invoice gets sent and they can pay right from the invoice. Plus there is a tracking system built into the email so you can tell when a person gets your email. They can use Paypal or Credit card making the whole process nice and easy for your client
Time tracking system
If you are getting paid for your time on a project, Freshbooks has you covered. You can easily go into the time tracking tab and create a new project. You can add your team and track your timesheet. There’s a built in timer that you (or your staff if you are growing!) can use to track the time to a specific project. Freshbooks can easily generate an invoice using this feature and email the invoice to the client directly.
On the Go
A huge thing for me was mobility. Fresh books is available on the iPhone, iPad and Android. The app helps keep your data secure and accessible from any device. I’m just getting started with Freshbooks, so far I like what I see.
Give it a try and let me know what you think.