In case you’re looking for the correct accounting software, there’s no uncertainty that you’ve run over both FreshBooks and QuickBooks. Both of these software based on web that have designed for small business owners, FreshBooks and QuickBooks each provide great features. Both of them have a lot of features, in any case, you may be thinking: What’s the distinction between FreshBooks vs QuickBooks and which choice is right for my business?
We can help you in this situation. In this difference of QuickBooks vs FreshBooks, we’ll separate both of these accounting software on the basis of pricing, way of accounting, integrations and many more features. After that, you’ll have the confirmation of which software is correct for you.
First, we will define both of the accounting software.
Introduction: FreshBooks vs QuickBooks
FreshBooks is a great financial and accounting software. This software is famous for invoicing and tracking processes among its users. You will have the facility of using multiple businesses with the same account through this accounting software.
Additionally, FreshBooks will be best for those who have just entered into the business. Since it is easy to use and easily manage your business.
See also : How to fix QuickBooks Error 6000 82?
This software has two variants: QuickBooks Online and QuickBooks Desktop. QuickBooks Online is a cloud-based accounting software that has been specially developed and designed by Intuit for small business owners. This software is used for managing sales & expenses and tracking daily transactions. Users can avail lots of features after purchasing it.
Important points that you may know
- According to many users, both of accounting software QuickBooks vs FreshBooks has been designed for the same purpose. But this is a misunderstanding.
- QuickBooks will be great accounting software for those businesses that prefer not to update the software, or creating of backup of the company file.
- FreshBooks will be great accounting software for businesses that are based on service and for freelancer. Since they require a way to track revenue and expenses.
Difference between – FreshBooks vs QuickBooks
Both of the accounting software have almost the same features. But the way of working is different which will be explained with the help of the following table. All the features of both FreshBooks vs QB have been described below:
- Inventory tracking
- Expense tracking
- Tracking Bills & Payments
- Ease of use
|Basis of Differences||FreshBooks||QuicBooks|
|Pricing||FreshBooks consists of three plans:|
• Lite – $15 per month.
• Plus – $25 per month.
• Premium – $50 per month.
All the above-mentioned plans comprise the basic features of accounting software such as payment processing, time tracking and invoicing.
This accounting software also provides FreshBooks Select for businesses that comprise more than 500 users or more than $150,000 billings per year.
|QuickBooks users will get four plans:|
• Simple Start – $12 per month (1 user)
• Essentials – $20 per month (up to 3 users).
• Plus – $35 per month (up to 5 users).
• Advanced – $75 per month (up to 25 users).
All aforementioned plans includes feature of tracking income & expenses, invoicing, organizing receipts, tracking sales tax, and estimates. In order to avail more features like inventory, accelerated invoicing and custom user permissions, you will have to purchase more expensive plans according to the plan. Else, you will get basic functionality to your business in all four plans.
|Timekeeping||FreshBooks offers worked in time following abilities that are useful for venture and case-based organizations where representatives track billable hours nearby other undertaking costs. The dashboard and venture perspectives on these hours assist you with keeping your whole undertaking and individual workers on the correct task at the ideal time.||You will be provided by an extra element which will help you in tracking finance for full or low maintenance options. Else, you’ll need to enter finance as a cost, and charge it by classifying the representative’s help as an item. It’s not the most effective approach to follow representative time, so you’ll likely need to investigate other finance or time clock programming to oblige this|
|Invoicing||FreshBooks likewise incorporates adjustable receipt plan and a tick to-pay button for online invoices. You will be able to send the information related to invoices through timekeeping highlight, as long as you mark hours as “billable”. Automations incorporate repeating invoices and programmed invoicing of billable hours, just as follow-up messages for past due installments.||On the other hand, this accounting software is related to track applications such as TSheets or Google Calendar that follow billable hours and incorporate these on your invoices. QuickBooks users get a lot of features of customization so you have command over the plan of your invoices before sending them to customers. Consisting tick to-pay button on your invoice to give your customers a chance to pay legitimately from the invoice, and set updates and repeating installments straightforwardly from the stage.|
|Inventory tracking||This software has a basic inventory process. In FreshBooks, the inventory amount will automatically deduct when you have added the sold item into the invoice.||The feature of tracking inventory in QuickBooks online allows you to track the sale of each product and you can easily view the cost of each item that has been recently sold. You have to turn on this feature before setting up inventory in QuickBooks.|
|Expense tracking||The main focus of Freshbooks is on payment collection and invoicing. You will get special expense features in this accounting software such as project time tracking, sales tax management, and receipt tracking.||This software import transactions from credit cards, PayPal, square and your bank. Expenses will be auto-sorted into tax and categorized. You can edit and create expenses. This feature will help you in reducing the tax liability by offsetting profits and revenue against costs. You can use “Enter Bills” to turn on this feature.|
|Accounting||In this software, accounting is not offered in the form of fully automated balance sheets. But if you will be able to enter your data to fill out balance sheets only when you require to put in some work. This process can take a lot of time and based on how many users you are working with.||Through QuickBooks, it will be easy to do accounting. Since it contains features such as double-entry accounting that keep your sheets balanced and assist you with organizing cash flow. But this feature will not be easy for all. As we all know, QuickBooks contains a lot of features due to feature it will be difficult to learn for its users. A sufficient amount of accounting knowledge will assist users to access the software.|
|Integrations||This accounting software comprises many integrations. The focus of these integrations are freelancers and small businesses. You are required to connect your app to tax filing tools and human resources for small businesses. You can track payments from your Moodle course with an integration. Along with this, connect FreshBooks to Zapier in order to organize actions.||In this accounting software, there are more than 400 integrations with your bank, payment software CRMs, e-commerce, and many other software categories to make sure the maximum visibility. You will also be provided with other useful software such as Receipt Bank and PayPal that help in updating your transactions with required details.|
|Reporting||The main focus of FreshBooks reporting is on the central dashboard and profit margin that indicates the periodic input vs. output. Since FreshBooks is a great accounting software for invoicing and time tracking tool. The main focus of the reports is on payment collection and the reports related to tax. You will get filters in this software that help you building reports. Also, some reports are based on the time that help you to be on top of the payments due.||QuickBooks consists of various reports with their product, and the majority of these follow what you will required according to your accounting purposes. Each group of reports is divided into sub-reports in which your accountant and your needs have been mentioned in detail: |
• Inventory and products.
• Accounts payable.
• Accounts receivable.
• Employee reports.
• Sales tax reporting.
• Purchases and expenses.
You can avail all the above-mentioned reports just by manual entry or tagging. Also, you require to keep records of reports in detail to access each of the reports.
|Tracking Bills and Payments||You will be able to set up auto-billing to charge credit cards, keep track of who has paid, and credit online payments.||You will be able to track bills and payments and manage them only in the Essentials level in QuickBooks online.|
|Ease of Use||FreshBooks is a user-friendly accounting software. It is very simple to use. Its users can easily set up this software without taking any technical assistance.||This accounting software is well-designed in which you can enter any kind of information you want. With the help of this software, import the data from another application will be easily done by the import data application. Other features of this software are payroll, time tracking and invoicing.|
Which one should be considered between FreshBooks and QuickBooks according to us?
After having a detailed discussion on QuickBooks vs FreshBooks, we have concluded that you have to go with QuickBooks. Not just QuickBooks Online provide lots of features as compare to FreshBooks, but the features of QuickBooks are more useful and developed. For instance, both accounting software comprises a feature of invoicing, but FreshBooks only provides two templates to select. On the other hand, QuickBooks Online consists of five.
To Sum Up:
If you are still confused between FreshBooks vs QuickBooks, then you are free to call us to our QuickBooks Support Team by dialing 1-805-257-5030. We will also help you in setting up both of the accounting software. You are free to get in touch with us at any time.