Feeling swamped by business finances? You’re not alone.
Many small business owners and freelancers struggle with keeping their books in order.
Messy accounting can lead to stress, missed opportunities, and even tax headaches.
We’ll break down QuickBooks vs FreshBooks features, ease of use, and help you pick the perfect tool to manage your money.
Overview
We’ve spent considerable time testing both QuickBooks and FreshBooks.
Diving deep into their features, user interfaces, and overall performance.
Our hands-on experience has allowed us to form a clear picture of each platform’s offerings, leading us to this detailed comparison.
Used by over 7 million businesses, QuickBooks can save you an average of 42 hours per month.
Pricing: It has a free trial. Paid plan starts at $9.50/month.
Key Features:
- Expense Tracking
- Invoicing and Payments
- Comprehensive Reporting
Ready to simplify your invoicing and get paid faster? Over 30 million people have used FreshBooks.
Pricing: It has a free trial. Paid plan starts at $10.50/month.
Key Features:
- Time Tracking
- Project Profitability
- Customizable Invoicing
What is QuickBooks?
So, you’re looking at QuickBooks. It’s a big name in accounting.
Many businesses use it. It helps you track money.
You can easily send invoices. It’s a powerful tool that handles many tasks, which makes it good for growing businesses.
Also, explore our favorite QuickBooks alternatives…
Ready to take control of your business money like a pro? QuickBooks helps millions track their income and expenses easily.
Key Benefits
QuickBooks really shines with its broad set of tools for everyday tasks. It offers:
- Manages over $1 trillion in invoices annually for its users.
- Connects to over 700 different apps for smoother workflows.
- Helps businesses save up to 42% of their time on bookkeeping tasks.
- Provides over 50 standard reports to understand your business better.
Pricing
- Simple Start: $9.50
- Essential: $14
- Plus: $20
- Advanced: $38
Pros
Cons
What is FreshBooks?
Let’s talk about FreshBooks. It’s really popular with freelancers.
Many service-based businesses love it. It makes invoicing super easy.
You can track your hours. It’s very user-friendly and focuses on simplicity, which makes it great for non-accountants.
Also, explore our favorite FreshBooks alternatives…
Ready to simplify your invoicing and get paid faster? Over 30 million people have used FreshBooks.
Key Benefits
FreshBooks has some really cool things it does well:
- It makes sending professional-looking invoices super easy. You can even set up automatic payment reminders!
- Keeping track of your time is a breeze with its built-in time tracking tools. This is great if you bill clients by the hour.
- You can easily see how much money you’re making and what you’re spending with its clear reports.
- It lets you work with your team and share information easily.
- FreshBooks can connect with over 100 other apps to make your work smoother.
Pricing
FreshBooks has different plans depending on what you need:
- Lite: $10.50/month
- Plus: $19/month
- Premium: $32.50/month
- Select: Talk to a consultant
Pros
Cons
Feature Comparison
Now, let’s dive into the core accounting features of each platform.
We’ll compare FreshBooks and QuickBooks side-by-side.
This will help you see which accounting software truly fits how you run your business.
1. Invoicing & Payments
Both platforms help you get paid. They handle sending bills. But they have different strengths.
- QuickBooks Online: QuickBooks Online lets you create professional invoices, customize them, and track when clients view bills. It also offers robust online payment processing and the ability to accept many payment types, making it great for businesses with varied products and services.
- FreshBooks: FreshBooks also excels at invoicing. It’s known for its user-friendly design. You can send unlimited invoices. It provides automated payment reminders. This helps you get paid faster. It’s ideal for accounting software for small businesses focused on service.
2. Expense Tracking
Keeping track of spending is vital. Both tools simplify this.
- QuickBooks: It automatically categorizes expenses. You can connect bank accounts. It helps you find tax deductions. You can easily upload receipt photos. This makes tax time simpler.
- FreshBooks: FreshBooks also offers easy expense tracking. You can snap photos of receipts. It helps organize your spending. It links to your bank accounts.10 This keeps your financial records neat.
3. Time Tracking
Billing for hours worked is common. These tools help ensure accuracy.
- QuickBooks: It offers time tracking. However, advanced features often require QuickBooks Time, an add-on service that provides detailed time management.
- FreshBooks: Time tracking is a core feature of all FreshBooks plans. You can track hours for projects and easily turn tracked time into invoices, which is a huge benefit for service providers.
4. Reporting
Understanding your financial health is key. Both provide reports.
- QuickBooks offers comprehensive accounting and reporting. It provides detailed reports on profit and loss, balance sheets, and more. It also supports double-entry accounting, which provides deeper insights.
- FreshBooks: FreshBooks also provides good basic reports. You can see your income and expenses, and it helps with tax summaries. While useful, its reporting isn’t as deep or customizable as QuickBooks for complex needs.
5. Inventory Management
If you sell physical items, this feature matters.
- QuickBooks has strong inventory management. You can track stock levels, which helps with reorder points, and you can create purchase orders. This is essential for product-based businesses.
- FreshBooks: It has basic inventory tracking, making it suitable for simple needs. However, it lacks advanced features, making it not ideal for businesses with complex inventory.
6. Payroll
Paying your team is a big part of business.
- QuickBooks: It offers integrated QuickBooks Payroll. This is a full-service payroll solution. It handles taxes and direct deposits. It’s very comprehensive for managing employees.
- FreshBooks: FreshBooks offers payroll through an add-on. It partners with Gusto. This means it’s not built-in. You’ll pay an extra fee for this service.
7. Ease of Use & Scalability
How easy are they to learn? Can they grow with you?
- QuickBooks: It can be complex at first. There’s a learning curve. But it’s very scalable. It grows with your business needs. It’s a powerful accounting solution.
- FreshBooks is known for being very easy to use. Its clean and simple interface makes it perfect for beginners. However, it’s less scalable than QuickBooks, so it’s best for smaller operations. It’s a popular accounting choice for solo users.
What to Look for When Choosing Accounting Software?
Choosing the best accounting tool for your business depends on your specific needs.
Here are key things to consider:
- Business Type: Are you service-based or selling products?
- Budget: What can you afford monthly?
- Ease of Use: Do you need simple or advanced features?
- Scalability: Can it grow as your business does?
- Key Features: Do you need time tracking, inventory, or payroll?
- Integrations: Does it connect with your other tools?
- Support: What kind of help do they offer?
Final Verdict
So, who wins the FreshBooks vs QuickBooks debate?
For freelancers or small service businesses, FreshBooks is likely the best choice. It’s super easy to use for invoicing and time tracking.
However, for growing businesses with complex needs, QuickBooks is stronger.
QuickBooks also offers powerful inventory and payroll.
It handles deeper reporting.
We’ve tested both thoroughly to give you honest advice. Choose the tool that best suits your business needs.
More of FreshBooks
Here’s how FreshBooks vs other popular accounting tools stack up, highlighting their unique strengths:
- FreshBooks vs Puzzle IO: Puzzle IO focuses on automating bookkeeping for e-commerce, offering deep sales channel integration.
- FreshBooks vs Dext: Dext excels at receipt and invoice capture, automating data entry for expenses.
- FreshBooks vs Xero: Xero offers strong bank reconciliation and a user-friendly interface for collaborative accounting.
- FreshBooks vs Synder: Synder specializes in syncing e-commerce and payment platform data for accurate bookkeeping.
- FreshBooks vs Easy Month End: Easy Month End streamlines the month-end close process with automation and reconciliation tools.
- FreshBooks vs Docyt: Docyt uses AI to automate bookkeeping, expense tracking, and financial workflows.
- FreshBooks vs RefreshMe: RefreshMe provides automated financial insights and cash flow forecasting for better decision-making.
- FreshBooks vs Sage: Sage offers comprehensive accounting solutions, often preferred by larger small to mid-sized businesses.
- FreshBooks vs Zoho Books: Zoho Books provides a full suite of integrated business apps alongside its accounting features.
- FreshBooks vs Wave: Wave is a free accounting software, ideal for very small businesses and freelancers with basic needs.
- FreshBooks vs Quicken: Quicken is primarily for personal finance and basic small business money management.
- FreshBooks vs Hubdoc: Hubdoc automates document collection from financial institutions for easy reconciliation.
- FreshBooks vs Expensify: Expensify focuses on expense reports and receipt tracking for individuals and teams.
- FreshBooks vs AutoEntry: AutoEntry automates data entry for bills, receipts, and bank statements.
- FreshBooks vs NetSuite: NetSuite is an extensive ERP system, offering advanced financial management for larger enterprises.
More of QuickBooks
We’ve also compared QuickBooks vs these alternatives, noting their unique strengths:
- QuickBooks vs Puzzle IO: Puzzle IO uses AI for automated bookkeeping, excelling in efficiency and predictive analytics.
- QuickBooks vs Dext: Dext focuses on automated receipt and invoice data extraction, saving time on data entry.
- QuickBooks vs Xero: Xero offers unlimited users and strong bank reconciliation, great for collaborative teams.
- QuickBooks vs Synder: Synder specializes in seamlessly syncing e-commerce and payment processor data.
- QuickBooks vs Easy Month End: Easy Month End streamlines the month-end closing process with automated reconciliation.
- QuickBooks vs Docyt: Docyt leverages AI to automate complete bookkeeping workflows, including bill pay.
- QuickBooks vs RefreshMe: RefreshMe is more of a personal finance tool, offering budget tracking and spending insights.
- QuickBooks vs Sage: Sage provides robust accounting solutions, suitable for larger, more complex businesses.
- QuickBooks vs Zoho Books: Zoho Books is part of a larger business suite, offering a comprehensive ecosystem.
- QuickBooks vs Wave: Wave provides free accounting software, ideal for very small businesses with basic needs.
- QuickBooks vs Quicken: Quicken is a personal finance manager with basic business tracking for simple needs.
- QuickBooks vs Hubdoc: Hubdoc automates document collection and data extraction from financial sources.
- QuickBooks vs Expensify: Expensify focuses on streamlined expense reporting and receipt scanning for teams.
- QuickBooks vs AutoEntry: AutoEntry automates data entry from bills, receipts, and bank statements.
- QuickBooks vs NetSuite: NetSuite is a comprehensive ERP system for large enterprises needing advanced financial management.
Frequently Asked Questions
Is FreshBooks better than QuickBooks for freelancers?
Yes, FreshBooks is often preferred by many freelancers and solo entrepreneurs. Its invoicing, time tracking, and expense management are very user-friendly for service-based businesses.
Does QuickBooks have better reporting than FreshBooks?
Generally, yes. QuickBooks offers more in-depth and customizable financial reports. It’s built for comprehensive economic analysis, making it better for businesses needing detailed insights.
Can I switch from FreshBooks to QuickBooks later?
Yes, it’s possible to switch. Both platforms allow you to export your data. However, importing everything correctly into the new system might require some effort.
Which software is better for managing inventory?
QuickBooks is significantly better for inventory management. It provides robust tools for tracking stock, managing the cost of goods, and handling purchase orders, which FreshBooks lacks.
Do both FreshBooks and QuickBooks offer payroll?
QuickBooks has integrated payroll services. FreshBooks offers payroll through a third-party integration, typically Gusto, meaning it’s an add-on service rather than built-in.
