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 How to Use FreshBooks Accounting Software: A Beginner's Guide


By Rabiu Aminu, PhD, FCNA, FMNES

Laptop with phone and bar chart

FreshBooks is a popular accounting software that can help small business owners and freelancers manage their finances more efficiently. This cloud-based software allows you to automate your invoicing, track your expenses, manage your time, generate reports, and more. In this comprehensive guide, we'll show you how to use FreshBooks and make the most of its features.

 

Sign up for FreshBooks

To get started with FreshBooks, the first thing you need to do is sign up for an account. You can do this by visiting the FreshBooks website and clicking on the "Try It Free" button. You'll need to enter your name, email address, and create a password to get started.

 

Set up your business profile

Once you've signed up, you'll need to set up your business profile. This includes adding your company name, address, phone number, and logo. You'll also need to set up your payment gateway to accept payments from clients. This is an essential step because it ensures that your clients can pay you easily and helps you maintain a professional image.

 

Create your first invoice

FreshBooks makes it easy to create and send invoices to your clients. To create your first invoice, click on the "Create New" button and select "Invoice" from the dropdown menu. Enter the details of your invoice, including the client's name, invoice number, due date, and amount. You can also customize the invoice with your logo, a personalized message, and payment terms.

 

Track your expenses

Tracking your expenses is essential for managing your cash flow and keeping your business finances organized. FreshBooks allows you to track your expenses easily. To add an expense, click on the "Create New" button and select "Expense" from the dropdown menu. Enter the details of your expense, including the vendor's name, date, and amount. You can also categorize your expenses and attach receipts for easy record-keeping.

 

Manage your time

If you're a freelancer or a consultant, tracking your time is essential for billing clients accurately and managing your workload effectively. FreshBooks includes a time-tracking feature that allows you to track the time you spend on each project. To track your time, click on the "Time Tracking" tab and select "Track Time" from the dropdown menu. Enter the details of your time entry, including the project name, task, and duration. You can also set a billable rate for each project to ensure that you get paid for your time.

 

Generate reports

FreshBooks includes a variety of reports that help you analyze your business finances. To generate a report, click on the "Reports" tab and select the report you want to run. You can choose from reports such as Profit and Loss, Expenses, and Time Tracking. These reports provide valuable insights into your business performance and help you make informed decisions about your finances.

 

Integrate with other tools

FreshBooks integrates with a variety of other tools, such as PayPal, Stripe, and Zapier. Integrating with these tools can help you streamline your workflow and automate your accounting tasks. To integrate with another tool, click on the "Settings" tab and select "Integrations" from the dropdown menu. Select the tool you want to integrate with and follow the prompts to connect your accounts.

 

Use the mobile app

FreshBooks also offers a mobile app that allows you to manage your finances on the go. The app is available for both iOS and Android devices and includes many of the same features as the web version. With the mobile app, you can create invoices, track expenses, and manage your time from anywhere.

 

FreshBooks is a powerful and user-friendly accounting software that can help small businesses and freelancers manage their finances more efficiently. By following these steps, you can get started with FreshBooks and take advantage of its many features to streamline your accounting and improve your bottom line.

 

References:

FreshBooks. (n.d.). FreshBooks cloud accounting. FreshBooks.                    https://www.freshbooks.com/

 

 

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