Managing finances effectively is critical for businesses of all sizes. FreshBooks, a well-known cloud-based accounting software, is designed to simplify invoicing, expense tracking, and time management. This review examines FreshBooks pricing plans, their features, and whether it’s the right choice for your business.
FreshBooks pricing plans review
FreshBooks offers several pricing tiers tailored to meet the needs of different business types and sizes. All plans include core features such as invoicing, expense tracking, and client management, with higher-tier plans offering additional capabilities.
| Plan Name | Monthly Cost (When Billed Monthly) | Features | Best For |
|---|---|---|---|
| Lite | £15 | Invoicing, expense tracking, 5 billable clients | Freelancers or sole traders |
| Plus | £25 | Includes Lite features + recurring billing, up to 50 clients | Small businesses |
| Premium | £35 | Includes Plus features + unlimited clients, project profitability tracking | Growing businesses or agencies |
| Select | Custom pricing | Tailored features, dedicated account manager | Large businesses with specific needs |
FreshBooks features breakdown review
Each FreshBooks pricing tier is packed with features designed to streamline financial tasks. Here’s a closer look at the most notable ones:
Lite plan
- Create and send unlimited invoices to up to 5 clients.
- Track expenses and payments.
- Use time-tracking tools for accurate billing.
- Access via mobile app.
- Integrations with payment processors like Stripe.
Ideal for: Freelancers or sole traders who manage a small number of clients.
Plus plan
- All Lite features.
- Add up to 50 clients.
- Automate recurring invoices and client follow-ups.
- Double-entry accounting reports, including profit and loss.
Ideal for: Small businesses that require automation and work with multiple clients.
Premium plan
- All Plus features.
- Manage unlimited clients and projects.
- Use advanced financial reports, such as project profitability tracking.
- Custom email templates for branding.
Ideal for: Businesses experiencing rapid growth and handling multiple projects simultaneously.
Select plan
- Tailored pricing and features based on business needs.
- Access to a dedicated account manager.
- Custom workflows and reports.
- Priority support.
Ideal for: Larger businesses or enterprises with specific requirements.
Pros and cons of FreshBooks
Pros
- Intuitive interface suitable for non-accountants.
- Comprehensive features for tracking expenses, time, and invoices.
- Scalable pricing plans for businesses of all sizes.
- Robust mobile app for on-the-go management.
Cons
- Limited number of billable clients on Lite and Plus plans.
- Premium and Select plans can be costly for small businesses.
- Some features, like inventory management, require third-party integrations.
Add-ons and additional costs
FreshBooks offers optional add-ons for an additional fee:
- Advanced Payments (£17/month): Accept payments via credit cards, AMEX, and bank transfers.
- Team Members (£7/person/month): Add additional team members with customised access.
These extras can enhance functionality but may increase overall costs.
Review verdict – Is FreshBooks the right choice for your business?
FreshBooks is an excellent option for freelancers, small business owners, and growing enterprises seeking user-friendly accounting software. Its scalable plans and robust features cater to various business needs. However, businesses with complex requirements, such as inventory management, may need to explore alternative options or third-party integrations.
Final thoughts
Here we conclude our Freshbooks pricing review. FreshBooks delivers value with its intuitive interface and essential accounting tools. The Lite and Plus plans are ideal for smaller businesses, while the Premium and Select tiers suit larger operations. For UK businesses prioritising ease of use and scalability, FreshBooks could be a worthwhile investment. However, consider your business size and budget carefully to ensure it meets your needs.
FAQ – FreshBooks pricing review
FreshBooks supports multiple payment methods, including credit cards, bank transfers, and payment platforms like Stripe and PayPal. Advanced Payments, available as an add-on, also allows businesses to accept AMEX and other specialised payment types.
Yes, FreshBooks provides a 30-day free trial, allowing users to explore its features and functionality without committing to a paid plan.
FreshBooks integrates with a wide range of third-party applications, including Shopify, Gusto, and Trello, to enhance its functionality for tasks like e-commerce, payroll, and project management.
FreshBooks typically offers discounts for annual billing, which reduces the overall cost compared to monthly billing. Occasionally, promotional discounts may also be available.
Yes, FreshBooks allows VAT-registered businesses to track VAT on income and expenses, generate VAT reports, and prepare for HMRC submissions.
FreshBooks offers customer support via phone, email, and live chat. Premium plan users receive priority support, and Select plan users are assigned a dedicated account manager.
FreshBooks supports multi-currency invoicing, making it a good choice for businesses with international clients. It automatically converts amounts based on current exchange rates.
Yes, FreshBooks is fully compliant with HMRC’s Making Tax Digital (MTD) requirements, ensuring smooth VAT submissions for UK businesses.
FreshBooks invoices can be customised with your business logo, colour scheme, and personalised messages to create a professional look that aligns with your brand.
Yes, FreshBooks provides a mobile app for iOS and Android, allowing users to manage invoices, track expenses, and log hours from anywhere.