Accounting tasks can be a nightmare for newbies. Small and medium-sized entrepreneurs find managing and keeping track of their financial transactions difficult. They need the help of someone they can rely on for managing and streamlining their expenses and income. Here comes the role of accounting software. Based on the market analysis, the two best options available in accounting software for SMEs today are QuickBooks and FreshBooks. However, if you are a newbie, then it is difficult for you to decide which to go with which software. Do not worry. We have come to rescue you by providing a full in-depth FreshBooks Vs QuickBooks comparison.
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Quick Look On QuickBooks
Founded in 1983 and developed by Intuit, QuickBooks is the widely used accounting software. The reliable software is suitable for small and large-scale businesses of all industries. The accounting software is packed with some of the most advanced features and tools, including accounting, payroll, tax returns, inventory management, and more. The software is best suited for companies that sell the products and need more deep and extensive reports.
The AI tools of the software track the project’s profitability. You can take control of your accounting task anytime and anywhere with the help of a mobile app. Choose between QuickBooks Online, QuickBooks Self-employed, QuickBooks pro plus, QuickBooks premier plus, QuickBooks Enterprise, and QuickBooks Mac as per your business requirements and needs.
Brief Intro to FreshBooks
Developed in 2003, FreshBooks has evolved and established itself as the best accounting software. It is all-in-one accounting software perfectly suitable for small size businesses with one main operator and owner. No doubt, the accounting application comes with the latest tools and features that help SMEs. You do not need to be expertized to use the application. The application is designed with a super easy user interface so that anyone can use it.
A Glimpse of FreshBooks Vs QuickBooks
Deciding which accounting software to choose for your business purely depends on the size and the type of your business. If your business just needs the basic accounting features and tools at a reasonable price, then simply opt for FreshBooks. However, at the same time you are well established and are a growing business that needs beyond simple accounting, then pick the QuickBooks.
Though QuickBooks has more different products that can add value to your business. For a more specific key comparison between both the software, just scroll down.
Key Features Comparison between QuickBooks and FreshBooks
To help you and to make your decision easier, we have analyzed and compared dozens of things of accounting software, ranging from features, tools, plans, user-friendliness, and more. Let us have a look at the various features of both the software. We have summarized the features in the table format to provide you with a better understanding of FreshBooks Vs. QuickBooks.
| Features | FreshBooks | QuickBooks |
| Accountant Access | After upgrading to the Plus plan, you can invite only one accountant. | With any plan, you can invite two accountants. |
| Time Tracking | It is available with all plans | It needs a separate account with QuickBooks Time. |
| Automation | It can integrate with other applications and can send automatic invoice reminders. However, you can not use any other functionalities. | In the advanced plans, you can enable automation through its workflow features. You can easily integrated the application with other software. |
| User Friendliness | It is simple to use. The intuitive interface describes the features with call-out tips.. | The newbie users need videos to walk through the features. A large number of options are available with the software. |
| Inventory Management | Can access the basic features like automatic stock update | Pre-customized templates are available. You can easily customize and save your own reports as per your requirements. |
| Reporting | templates are provided, one report style with minimum customization features is available | Templates are available. The users can create and save their own customizable reports. |
| Mileage Tracking | No | Yes, the plan starts with simple start plan. |
| Bank Reconciliation | With the Plus plan and higher versions | With the basic start plan, you can enjoy this feature |
| Price | The prices are lower than the QuickBooks | The higher capabilities set the price of the application a little bit higher. |
Read Also:- How to Resolve QuickBooks Error PS032
Scenarios When to Choose QuickBooks
There are certain scenarios when you feel the need to select QuickBooks over other accounting software. Below, we have depicted the five main scenarios where you can blindly trust QuickBooks.
Need Scalable Accounting Solution
QuickBooks is a fully-fledged accounting software that offers numerous tools and features. The tool is designed to successfully cater to the needs of all sizes of businesses and organizations. Also, if your business needs more industry-specific reports and invoices, then pick QuickBooks without giving it a second thought.
You Sell Products
No doubt, QuickBooks is a prime choice for businesses that sells products or retail goods. The product gives you better and broad visibility of your business. You can easily track every single sale from every channel and can easily synchronize the application with other sales tools like PayPal and others. Also, the inventory tracking system of the application allows you to have a better insight into the inventory item.
Just Need one Accounting Tool.
The application is a complete financial software for all your invoicing and accounting needs. You can use QuickBooks Point of Sales to handle all sales tasks. As the application focuses on a broader range of audience, you can easily achieve a custom outcome.
You have a Mid Size or growing Business.
Congratulations, your business is growing. Though, the expansion of business comes with its own challenges. Here comes QuickBooks to rescue you from the daunting task of business transactions. Without giving it a second thought, just go with QuickBooks in case your business is constantly growing.
Your Accountant Loves QuickBooks
Though, it is not the most point taken into consideration. No doubt, QuickBooks is the most preferred choice of accountants across the world. The application provides many country-specific bank feeds, tax compliance features, and integration options.
Read Also:- Simple Tactics to Eliminate QuickBooks Error Code 9000 Smoothly
When To Pick FreshBooks
It can not be denied that QuickBooks is a widely popular software. At the same time, we can not overlook that FreshBooks has established itself in the market in less time span. Have a look at the below-mentioned points to understand the scenarios when to select FreshBooks for yourself.
You are establishing Yourself.
When you are establishing your business in the market, then there is no need to go with fancy accounting software that has a lot of complex tools and features. FreshBooks Vs. QuickBooks Online provides more simple features that are much more friendly and easy to use.
More user friendly
If you are new to the accounting world and are worried about using complex accounting software, then leave the worries. FreeBooks is a user-friendly accounting application, and anyone can use it without having any prior knowledge.
You are a Freelancer
The application is designed by keeping the needs and requirements of small size businesses in mind. The software can be used by anyone and also allows you to track time spent per project. Also, you can easily convert the time spend into invoices. The project management, with the easy integration and manual reminders for unpaid bills, makes it a prime choice among startups.
FreshBooks Vs. QuickBooks Online: Which is Perfect for You
No doubt, FreshBooks and QuickBooks are the two big names of accounting software in the business market. However, each software serves its own specific users best. FreshBooks comes up with straightforward tools that are perfect for invoicing, time tracking, and more. While at the same time, QuickBooks has a list of native features and integrates well with other applications, and is perfectly suitable for businesses.
However, to avail the facilities of QuickBooks, you need to pay a little higher price than FreshBooks. With scalability and enhanced features, QuickBooks wins the race. However, FreshBooks is perfect for freshly started businesses.
Bottom Line
In short, FreshBooks is friendly to freelancers and users, while QuickBooks serves large or medium size organizations best. We can say that QuickBooks is perfectly suitable for businesses selling products, while FreshBooks serves the companies best who offer the services. Hopefully, you are very much clear about the fact of choosing the right accounting software for your business. If not, then do not hesitate to call our experts @+1855-603-0490.
Frequently Asked Questions
Q 1– Are FreshBooks and QuickBooks the same?
A – Both QuickBooks and FreshBooks are accounting software catering to the various needs of multiple businesses. Though QuickBooks has more advanced features in comparison to FreshBooks. For a detailed comparison between the two applications, read out the complete blog.
Q 2 – Is FreshBooks easy to use?
A – FreshBooks have a more user-friendly interface. The dashboards display the key statistics, and there is no need for proper training to use the software.
Q 3– Is QuickBooks costlier than FreshBooks?
A – Yes, you need to pay a higher price to use QuickBooks. FreshBooks is much cheaper in comparison to QuickBooks.
Q 4-Can I get support for both QuickBooks and FreshBooks?
A – Yes, our experts will offer a helping hand to you at the best possible price. The experts are well-trained to resolve any query related to both applications. All you need is to get in touch with them.
