Freshbooks Vs Zoho Books: Which one is the better accounting software for you?

I) Invoicing:

i) FreshBooks simplifies creation of invoices in that all the invoices generated by users are professional-looking and can be completed in a few easy clicks.

ii) The buyers have an opportunity to create unique templates that can be customised with their brand’s logo, colours, and name. This will help to add coherence and consistency to your brand image.

iii) Daily or automated recurring invoicing feature helps users set up and send invoices for recurring services or subscriptions without the manual work of reviewing and sending invoices.

iv) Payment can be made online either through customers credit cards or ACH bank transfers directly using the invoices.

v) Overdue payment alerts give users the timely information they require to avoid the delay in payment collection and cash flow.

II) Expense Tracking:

i) FreshBooks lets users trace their business expenses in different ways which include capturing receipts, categorising expenses etc. all of them can be attached to invoices accordingly.

ii) Users can enter the repeat income for bills, which potentially bill by a predefined period, thus simplifying the processes of cash or expense management.

iii) The tool has platforms to allow you to record mileage that can be attributed to business travel and hence at the end of the year, these items can be deducted accordingly.

III) Time Tracking:

i) FreshBooks possesses an inbuilt feature for tracking time as a part of its application that provides the users to calculate the billable hours for each project or activity.

ii) We can fill out hours manually or use a timer as we work on different projects and hence get the clients billed properly.

iii) The human resource of converting time data into invoices is done by the machine and therefore, the machine level efficiency is improved with a reduction in the error.

IV) Reporting and Financial Insights:

i) FreshBooks enables business owners to explore their financial reports and other financial information and get insights into their whole business performance.

ii) Reports can be categorised in several types of reports, such as income statements, expense reports, tax summaries and client revenues. They are just few of the most common reports.

iii) Entrepreneurs can observe the financial side of their business, track the ups and downs over time and compare it with that of the previous period with the help of business intelligence dashboards.

V) Integration and Collaboration:

FreshBooks provides functional integration with a multitude of the other available tools and services, such as PayPal, MailChimp, and ZenPayroll, as well as many others.

The collaborative element within the software gives users the option of inviting co-workers, accountants or others to the platform , carrying on the project together , sharing files and communicating through the software.