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How Much Does FreshBooks Cost And What You’ll Get With A Free Trial

How much does FreshBooks cost?

FreshBooks is one of the cheapest SaaS accounting apps with pricing plans from $15 to $50 per month depending on feature set and number of clients. The prices are offered at a significant discounts when you avail yourself of the annual plan.

In this article, we will provide you with the information you need to understand what their packages have to offer. So, how much does FreshBooks cost and why should you consider investing in it? To answer that question, we will be discussing the following topics:

Over the years, many entrepreneurs and accountants have started to see the importance of artificial intelligence in accomplishing accounting tasks. In fact, in the AAT survey, 89% of professionals mentioned that technological advancements are making positive changes for modern accountingThis is because utilizing accounting programs can increase the functionality of your operations (43%), consolidate your multiple systems (10%), and reduce the cost of handling accounting responsibilities (5%). If you’re a small business owner, that’s a huge time-saving tool, considering a FreshBooks study that found:

Source: FreshBooks. “Self-Employed Professionals and Small Business Owners in America: The Rewards and Challenges of Career Independence.”

With these statistics, it comes as no surprise that over the years, there has been an increase in the purchase of accounting software platforms.

One such platform favored by many businesses is the FreshBooks accounting app. As one of the top accounting solutions in the industry, FreshBooks provides powerful tools that simplify billing processes, accelerate financial reporting, and streamline overall accounting operations. Trusted by companies of all sizes for its scalability, it has also been lauded by reputable organizations such as Forbes and CNN for its intuitive interface and easy-to-navigate layout. In addition to that, FreshBooks is a completely cloud-based system, making it easy for accountants and entrepreneurs to securely access files from any device whenever they want, wherever they are.  

But of course, it goes without saying that software solutions as good as this do not come for free. So, you might be asking “how much does FreshBooks cost?.” To help you gauge whether or not it falls within your budget, we will give you a detailed rundown of the inclusions of their pricing packages as well as how it compares with other programs on the market.

How Much Does FreshBooks Cost?

FreshBooks pricing is affordable compared to most software solutions. Their packages all have features for customizing invoices, processing credit card payments online, importing expenses automatically, and sending estimates quickly. Moreover, these are inclusive of dashboards that allow you to get complete visibility of your financial activities, tools that execute time tracking so you don’t miss billable hours, project budgeting features, as well as reporting options.

On top of these features, FreshBooks also makes sure to protect your data no matter what payment plan you avail. This is why they have industry-standard SSL and encryption options as part of their pricing plans. In case you run into any technical difficulties with the platform, customer support is also included in your payment.

If you want to investigate the features closely you can easily do so when you sign up for a FreshBooks free trial.  You get to use all the premium features at no cost for thirty days. This should be enough time to gauge its intuitive features. Meanwhile, here are the pricing details:

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Lite Package – $15/month (billed monthly) / $13.50/month (billed annually)

The FreshBooks Lite Package is designed for small companies and startups who bills up to 5 clients on a monthly basis.  For $15 a month, this can provide you with all the basic accounting tools you require. If you choose to have this plan billed on a yearly basis, you may utilize this product for only $13.50/month. Here are the features included in this package:

  • Unlimited invoices and estimates
  • Track time and expenses
  • Easily accept online credit card payments
  • Automatically import expenses from your bank account/li>

Plus Package – $25/month (billed monthly) / $22.50 (billed annually)

For larger businesses who are expecting to handle up to 50 clients per month, FreshBooks offers a Plus Package. This is available at $25 per month when billed monthly and $22.50 per month when billed on a yearly basis. Equipped with all the features that the Lite Package offers, this subscription plan also offers accounting report options as well as payment reminder tools. Here’s a more detailed list of the features included in this payment plan:

  • Unlimited invoices and estimates
  • Track time and expenses
  • Easily accept online credit card payments
  • Automatically import expenses from your bank account
  • Automatically send payment reminders
  • Charge late fees or overdue invoices
  • Accounting reports (general ledger, trial balance, chart of accounts)
  • Schedule recurring invoices
  • Send proposals

Premium Package – $50/month (billed monthly) / $45/month (billed annually)

If you own a sizable enterprise and accommodate up to 500 clients every month, then the FreshBooks Premium Package is a good option for you. For only $50 per month when billed monthly or $45/month when billed annually, you can get the following features:

  • Unlimited Invoices and Estimates
  • Track Time and Expenses
  • Easily Accept Online Credit Card Payments
  • Automatically Import Expenses from your Bank Account
  • Automatically Send Payment Reminders
  • Charge Late Fees for Overdue Invoices
  • Accounting Reports (General Ledger, Trial Balance, Chart of Accounts)
  • Schedule Recurring Invoices
  • Send Proposals

As an add-on to any of these packages, you can add team members so they can track time, expenses, and help manage your projects for $10/person/month.

How Does FreshBooks Pricing Compare With Other Solutions?

Of course, FreshBooks is not the only accounting solution that offers reasonable subscription rates. Now that we have answered the question “how much does FreshBooks cost?,” we can move on to discussing how it compares to other popular software options. It is important to note, however, that compared to FreshBooks, some of the products we have listed down either offer fewer functionalities or support limited users. If you want a more in-depth comparison of the features of these programs, be sure to check out our article on the 15 best accounting solutions of 2022. This article should give you more details regarding the capabilities that each of these platforms can offer.

Xero – From $9/month

A major competitor of FreshBooks, Xero offers SMB and enterprise pricing plans according to the number of invoices, bills, bank transactions, and payrolls you need to accomplish in a month. For small businesses and startups, they have a Starter plan that costs $9/month and can accommodate up to 5 invoices, quotes, and bills as well as 20 bank transactions.  Should you want the flexibility to handle an unlimited number of transactions, they have a Standard plan priced at $30/month and a Premium 10 package which is available at $70/month. The only difference between the two is that the former can accommodate 5 payrolls while the latter can handle up to 10 payrolls per month.

Zoho Books – From $9/month

Similar to Xero in terms of subscription rates, Zoho Books offers three packages to choose from. However, these are priced according to the number of contacts you intend to enroll into the system and the number of users who will be utilizing the platform. In addition to these, each package is also bundled depending on the features you will be needing for your operations. You may choose from the Basic plan which costs $9/month, the Standard Plan that is available at $19/month, and the Professional plan which can be purchased for $29/month. Additional users cost $2/month. For your convenience, the vendor offers a 14-day free trial period for new customers.

Sage 50cloud – From $44.97/month

Compared to other top accounting solutions we’ve mentioned, Sage 50cloud offers the most expensive pricing packages. They currently offer three different plans based on the types of features you will be needing. For essential accounting tools, they have a Sage50cloud Pro Accounting plan that costs $44.97/month. Should you need more advanced tools or the capacity to support more users, they have a Sage 50cloud Premium Accounting plan and Sage 50cloud Quantum Accounting plan that costs $69.62/month and $175.87/month respectively.

FreeAgent – From $10/month

Among the software solutions we mentioned, FreeAgent has the most straightforward pricing scheme. The vendor offers a single universal plan that includes all the accounting tools the platform has to offer plus multi-currency invoicing, sales tax reporting, and customer support. For your convenience, they allow users to use the platform at no cost for the first month. After the free trial period is over, the platform will cost $10/month for the first 6 months of use and then $20/month for the succeeding months. If you pay upfront, you can get the first 12 months for the cost of 5. From then on, you can get 12 months for the cost of 10.

QuickBooks Online – From €4.20/month (around $4.90)

QuickBooks Online is one of the most affordable accounting options on the market with its most expensive package being cheaper than FreshBooks’ most basic payment plan. However, it has limited features and can only accommodate a small number of users plus the company’s accountant. They have a Simple Start plan that can only accommodate one user for €4.20/month, an Essentials plan that supports up to three users for €6.30/month, and a Plus plan that can hold up to five users for €8.70/month. The vendor offers a free 30-day trial in case you want to learn more about the features of this platform first.

Conclusion

Price is a big factor to consider when it comes to investing in an accounting software. If you’re looking for a top-of-the-line program that provides you with the accounting tools you need without costing you an arm and a leg, FreshBooks fits the bill. Not only will this platform lessen the time you spend on accounting paperwork; it can also organize your financial reports and give you in-depth insights into your expenses. Moreover, the FreshBooks pricing plans are designed to meet different financial capacities for easier budgeting.

While we can continue discussing the many benefits you can reap from implementing FreshBooks for your operations, there is still no better way to assess its features than by trying it out yourself.

Daniel Epstein

By Daniel Epstein

Daniel Epstein is a senior financial research analyst at FinancesOnline and the architect behind our Fintech and ERP content division. His main areas of expertise are blockchain technologies, cryptocurrencies, and the use of biometrics in fintech solutions. His work has been frequently quoted by such publications as Forbes, USA Today, Entrepreneur, and LA Times. With more than 1,800 solutions scrutinized in the last 5 years spent on our team he always prioritized offering readers an unbiased perspective on modern financial technologies.

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