Why hello and welcome to Startup Savant’s comparative guide that addresses the FreshBooks vs QuickBooks Online question – which is the ideal accounting software for you and your brand? Honestly, that’s a tough question to answer. The best thing you can do is get in there and tinker, test, and try out their features.
That said, in this article we’ll do our best to give you a well-rounded look at both through their commonalities, differences, package options, pricing and so forth. It’ll be fun. Enjoy!
10 Things FreshBooks & QuickBooks Online Share in common
- Mobile apps available on all smartphones to help you keep track of your business on the go.
- Cloud-based programs which you can use anywhere, anytime, on pretty much any device.
- Generates automatic financial reports in a large variety of ways.
- Invoicing feature that gives you the freedom to make any kind of invoice, customize them according to your specifications, and send them in a click.
- Fit for all business professionals from accountants to bookkeepers, freelancers to busy entrepreneurs.
- Tracking and monitoring tools galore to keep you on top of expenses and cash flow.
- Time tracking features help you bill by the hour.
- Has a bank reconciliation feature that syncs your bank and credit/debit card information and transactions.
- Intuitive and easy-to-use interface which can be used by pretty much anyone, from beginners to savvy experts.
- Each software is HIGHLY secure (used by vast armies of people like us) and backs up your data efficiently.
Popular FreshBooks Features
- Has a payment history feature that allows both you and your clients to view your transactions and payments. Your clients can also request for a copy of their account statement which FreshBooks will gladly provide.
- Gives you access to a downloadable copy of your expenses (which is a huge time saver).
- FreshBooks is less expensive.
- Features a late payment reminder which QuickBooks Online doesn’t have.
- Has forecasting and budgeting features that are indispensable in terms of planning.
Popular QuickBooks Online Features
- Has a multiple-user feature that allows you to completely control accessibility.
- Collaboration features allowing you to sync all your files and allow other team players to access it. FreshBooks does this, just not as extensively.
- Offers a 50% discount if you integrate a payroll application into your account.
- Can handle complex inventory situations unlike FreshBooks.
FreshBooks vs QuickBooks Online
FreshBooks and QuickBooks Online have different pricing. To give you a clearer picture of what you’ll be getting, here’s a thorough breakdown of their plans and the features that come with them.
FreshBooks has 4 very simple and creatively named plans: Sprout, Seedling, Evergreen and Mighty Oak. You have the option to pay these plans monthly or annually. Below’s a table that shows you their specific features and prices.
All 4 plans have basic features which include an invoicing tool, invoice history, backup and security measures, customer support service, business solutions integration, free automatic updates, and automatic recording of recurring profiles. Although the Mighty Oak has the most complete features the Evergreen plan is more popular and widely used.
A Quick Look Inside FreshBooks
Send Professional Looking Invoices in Seconds
Track Your Expenses By Category
Effortless Time Tracking
Keep a Close Look at Your Business’ Finances
QuickBooks Online pricing
QuickBooks Online has 3 small business-friendly plans: Simple Start, Essentials and Plus. The Plus plan is the most popular and has complete features among the three accounting plans. If you’re an independent contractor or freelancer, you can also use QuickBooks Online for only $7.99 every month.
A Quick Look Inside QuickBooks Online
Start Small & Ease Into It
Our #1 tip to you, if you’re like most of the good folks who visit this particular chunk of content, is to ease into savvy new accounting software like these two titans. On the one hand you’ve got QuickBooks that’s been around a while and boasts of millions of users. On the other you’ve got FreshBooks which is very modern and curated for new breeds of entrepreneurs.
Either way, start where you need to start then work your way into the features that make sense for your platform and where your brand is in its evolution.
So, Who's It Going To Be?
Regardless of which you choose to explore first, both are great software solutions that help you better manage and leverage your financials. Here's to a great year ahead!
Try FreshBooks Or Try QuickBooks