And if you need support, our award-winning team always has your back. The total price for a Yearly plan is billed at the time of purchase. It includes both the monthly discount outlined above, as well as an additional 10% discount for selecting a yearly plan. You can enjoy project conversations, file sharing and project due dates, but these features are most helpful for individual or small-team projects.
But if you want something straightforward and user-friendly that gets the job done without fuss, FreshBooks is your go-to. FreshBooks’ reports may be more aesthetically pleasing and easier to navigate, but Xero’s include the level of detail needed to stay organized as your company grows. Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website.
FreshBooks Review 2024: Features, Pros And Cons
On the other hand, FreshBooks has limitations for larger companies or teams. Adding a team member to your account will cost an extra $11 per month, for example, and the lower-tier plans have a limit to how many clients you what is average daily rate adr how is it used in the hotel industry can have. FreshBooks is a paid service operating with a subscription model.
Xero doesn’t offer the opportunity to call a representative directly for assistance. You can reach support by raising a case (similar to filing an IT ticket) on the Xero website. Number of users aside, Xero is a better fit for small businesses with multiple employees, whereas FreshBooks is more ideal for freelancers and independent contractors.
- Whether you’re a service provider or retailer, it can adapt to your business needs.
- While Xero’s reporting suite isn’t as advanced as QuickBooks, it’s still noteworthy.
- Since FreshBooks is mainly software for freelancers who often don’t follow traditional working schedules, this could be a drawback, especially if you’re working in a remote time zone.
Payroll
She uses her experience managing her own successful small business to write articles about software, small business tools, loans, credit cards and online banking. Kristy’s work also appears in Newsweek and Fortune, focusing on personal finance. FreshBooks doesn’t offer quite as many connections, with just 100 partner apps. However, you’ll be able to find integrations to help you analyze data, book appointments, manage projects, run payroll and so much more. With the Lite plan, you’re able to send unlimited invoices to up to five billable clients. That number jumps to 50 billable clients with the Plus plan and then an unlimited number for the Premium plan.
Mobile App Functionality: FreshBooks Wins
When it comes to features and capabilities, FreshBooks offers the commonly required features that all accounting software does. What sets it apart from the competition isn’t any one unique feature, but its simplicity. Accounting can be confusing and overwhelming for business owners who aren’t trained accountants. FreshBooks streamlines the dashboard, which makes it easy to toggle between certain functions and reports.
It’s ideal for businesses that already use in-house Zoho apps, since it has limited third-party integrations beyond that. With Xero, all plans include a bank reconciliation tool that suggests transaction matches for you, making it easy to reconcile bank accounts. If a bank statement line meets the set of criteria you specified, Xero will suggest creating a matching transaction for you. Additionally, Xero’s customizable dashboard and global search function make the software easy to navigate. Least expensive plan lacks double-entry accounting reports, bank reconciliation and accountant access. The safety of your private data is our top priority, that’s why it’s protected by 256-bit SSL encryption—the gold standard in internet security.
Additionally, FreshBooks has a user-friendly mobile app that allows you to enter data as you need to while out of the office. This helps you from falling behind on entries when working away from your desk. Xero also offers Analytics Plus, available on the Established plan, to analyze your cash flow. This feature uses AI to predict future recurring transactions up to 90 days in advance based on patterns from the last three months. In addition to its more robust reports, Xero proves itself to be the better fit for established and growing organizations with its bank reconciliation feature. Yes, FreshBooks offers a robust mobile app for both iOS and Android devices.
Award-Winning Customer Support
FreshBooks didn’t fail miserably in A/P, but it does lack in some areas where Xero excels. For instance, it doesn’t have purchase orders (POs) and vendor credits, but these are forgivable since FreshBooks excludes inventory management as a feature. Meanwhile, Xero’s banking and cash management system allows—but doesn’t require—a bank feed connection. You can set up different cash accounts, reconcile book and bank statements, and print checks.