Freshbooks: The Best Program to Manage Invoices, Accounting and Reporting for Online Entrepreneurs and Coaches

Freshbooks Cloud Accounting to Manage Invoices, Accounting and ReportingI’ll never forget the moment I first learned about Freshbooks (accounting made for the non-accountant). I was reading an article from my iPhone on and was immediately inspired to check out what the fuss was about.

Freshbooks cloud accounting has become a dream come true for more than 5 million customers in 120 countries – myself included!

Why Freshbooks ROCKS

As an online entrepreneur, I have a lot going on (services, coaching clients, products, programs, affiliate marketing etc).

I struggled in two areas as my business grew.

  1. Client billing. My biggest headache was client billing for our done-for-you web services. You see, the biggest challenge was recurring billing because I offer up to 12-month payment plans for our services with no interest to help with your budget – so you can get the work done that you need without breaking the bank.Each client was charged a different amount, with a different payment plan – plus, I needed a “reminder” structure in place if a client was late on their payment and needed a nudge.
  2. Accounting. Even that word makes me cringe. I craved a simple way to track my income and expenses, so I could hand off a profit and loss sheet to my cpa and no longer agonize about what transaction happened six months ago.

Freshbooks solved ALL of these needs in the simplest and most affordable way. Years later, I’m still in disbelief about the awesomeness of their system and setup.

With Freshbooks, you can:

  • Create unlimited new clients (with the evergreen package) and store their contact information
  • Create a new one time invoice
  • Create a recurring invoice for any client (to recur by # of weeks, months, years)

    Freshbooks recurring invoices

  • Track when invoices have been viewed, paid or declined, etc.
  • The system automatically sends out invoice emails and late payment reminders on your behalf – ALL automated!
  • Process payment through PayPal, or their new payment processor option
  • Set late payment terms
    • I have an email automatically go out after 2 days if late, then 5 days and 10. I can customize each email, and with Freshbooks I can even set an automated late payment fee of any amount to charge anytime
  • Each of your clients have their own “customer portal” that is password protected where they can:
    • Make their payments
    • Review and print a report of all previous payments
    • Update their billing information
    • Setup “auto-charge” so their invoice is automatically paid once the invoice is sent
    • And so much more
  • Add your own personal branding to invoices and the customer portal
  • Track time for yourself or team members (I personally don’t use this function but it’s a great add-on)
  • Track all of your income and expenses – EASILY!!
  • Generate tons of different helpful reports from getting a report for all upcoming invoices so you can track what’s coming in, to profit and loss, balance sheet, tax summary and more. SO easy!

    Freshbooks reporting

  • Integrate with dozens of highly-used 3rd party sites like Basecamp project management program, MailChimp, Google products, Shopify, and so many more.
  • The BEST and fastest support of any program I’ve ever used.

Bottom line – I tell my clients that I think that every entrepreneur who especially has an online business can use this incredible platform.

What’s It Cost?

Freshbooks offers a 30-day free trial so it’s best to always start there so you can poke around. I suggest you get the Evergreen package for $29.95/mo – that’s what I have and love.

Try Freshbooks Free!

Note: I am an affiliate of Freshbooks. If you click the link above and order I will receive a commission. I appreciate the tip for letting you know about this awesome resource!

When you signup for the free trial, you’ll get access to your own account to poke around. I’m sure within minutes you’ll see the value I saw in it.

Freshbooks is an incredible time saver for any entrepreneur who sends invoices – great for coaches, service providers, etc – as well as any business owner because of the incredible ease with which you can manage your income and expenses.

Now, the only thing left to do is give it a try and say goodbye to your money-tracking frustrations!

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