The world is rapidly evolving, and the business sector isn’t left to watch. The digital era is here, and accounting software has become the ultimate solution for business ventures, especially small enterprises. There are many accounting software solutions in the market today, but FreshBooks and QuickBooks are the most widely used by many organizations globally.
Managing small-venture accounting programs and systems is not a walk in the park. Think of the invoices, cash flows, purchases, and expense tracking. Many businesses are currently focused on implementing new accounting solutions to ease the bulk of operations and expenses.
Forbes reports that IT spending is projected to increase by 4% in 2021, indicating organizations’ rising appetite for accounting software. This article will help you distinguish between FreshBooks and QuickBooks to understand which is suitable for your business. Follow through!
FreshBooks vs. QuickBooks- Overview
The beauty of these tools is that they are web-based accounting solutions. You don’t need to walk to an office or brick and motor shop to get anything done. Also, both FreshBooks and QuickBooks come with different plan options, features, and monthly subscriptions. On the surface, they seem relatively similar, but when you start exploring them, you discover their significant differences, such as:
Core Features
Both software solutions come in designs that fit small businesses. However, they can also operate in larger entities. If you are operating a small-scale venture but plan to expand it, installing QuickBooks would be a brilliant idea.
In terms of efficiency, FreshBooks tops with remarkable features for projects, invoicing, accounts reconciliation, and more. The software enjoys plenty of positive reviews on set-up and operation.
Pricing
If you want to enjoy software accounting services, you need to check the pricing plans and compare them with your intended level of operations. I.e., the number of invoices you want to send, your client base, additional financial reports, payroll services, and more.
FreshBooks comes with a one-month free trial and offers four customer-based plans: Lite, Plus, Premium, and Select. Its pricing depends on the number of clients you intend to serve in your company, with Lite and Select being the cheapest and the most expensive plans, respectively.
On the other hand, QuickBooks also offers a month-free trial for small ventures and has four pricing plans; Freelancer, Simple Start, Essentials, and the Plus. While FreshBooks’ rates are in terms of billable clients, QuickBooks charges according to the number of overall users. Also, while FreshBooks pricing remains constant, QuickBooks pricing increases after three months.
Bottom Line
Implementing accounting software in your business can be challenging but is a worthwhile decision. It increases your company’s production by enhancing efficiency among the employees. However, you need to perform due diligence to ensure you get the most suitable software for your organization’s needs.
