When selecting accounting software for your small business, one of the most important factors to consider is cost. FreshBooks is a popular cloud-based accounting solution known for its ease of use and time-saving features. But how much does FreshBooks actually cost per year? Let’s break down the pricing plans, what they offer, and whether FreshBooks is the right choice for your business.
FreshBooks Pricing Plans
FreshBooks offers several pricing tiers based on the needs of different businesses. Whether you are a freelancer, a small business owner, or managing multiple employees, there is a plan for you.
- Lite Plan: $19 per month ($228 per year)
- Plus Plan: $33 per month ($396 per year)
- Premium Plan: $60 per month ($720 per year)
- Select Plan: Custom pricing
The prices above reflect rates when billed monthly. However, FreshBooks often runs promotions and discounts for users who opt for annual billing.
What Does Each Plan Include?
Each FreshBooks plan comes with different features that cater to a range of business sizes and needs. Let’s take a closer look at what each plan provides.
Lite Plan ($228 per year)
- Allows up to 5 billable clients
- Unlimited invoices and expense tracking
- Accept credit card and ACH payments
- Basic reporting
The Lite Plan is best suited for freelancers and solopreneurs who have a small client base but need basic invoicing and bookkeeping tools.
Plus Plan ($396 per year)
- Everything in Lite, plus:
- Allows up to 50 billable clients
- Automated recurring invoices and client reminders
- Double-entry accounting reports
The Plus Plan works well for small businesses that need more automation and client capacity.
Premium Plan ($720 per year)
- Everything in Plus, plus:
- Allows unlimited billable clients
- Customized emails and invoice workflows
- More advanced reporting options
The Premium Plan is ideal for businesses that are growing rapidly and need unlimited billing capabilities.
Select Plan (Custom Pricing)
- Everything in Premium, plus:
- Dedicated account manager
- Customized training for your team
- Bulk invoice importing
The Select Plan is suited for larger businesses with more specific accounting needs.
Is FreshBooks Worth the Cost?
While FreshBooks is slightly more expensive compared to some competitors, it provides user-friendly tools, excellent customer support, and automation that can save business owners time. Here are some key benefits:
- Ease of Use: FreshBooks is designed with simplicity in mind, perfect for non-accountants.
- Time Tracking: Ideal for freelancers and agencies who need built-in time tracking.
- Tax Preparation: Useful reports and integrations make tax filing easier.
- Mobile Access: Manage invoices and expenses on the go.
However, for businesses that require advanced accounting features like inventory management, FreshBooks may not be the best option.
How to Save on FreshBooks
If you want to save on FreshBooks, here are some tips:
- Opt for Annual Billing: FreshBooks sometimes offers discounts for yearly payments.
- Look for Promotions: FreshBooks frequently runs discounts for new customers.
- Use the Free Trial: FreshBooks provides a 30-day free trial, so you can test it before committing.
By taking advantage of promotions and carefully selecting the right plan, you can maximize your savings while benefiting from FreshBooks’ user-friendly features.
Final Thoughts
FreshBooks offers a range of pricing plans designed for different business needs. Whether you’re a solo entrepreneur or managing a growing business, its intuitive design, automation, and integration options make it a strong choice for financial management. However, it’s important to compare features and pricing with other accounting software to determine the best value for your business.
Would you consider FreshBooks for your business? If you’re still undecided, taking advantage of the free trial might be the best next step!
