Know Your Books AND Your Business With Double-Entry Accounting
Ensure accuracy, prove compliance, prepare easy-to-understand financial reports, make smart choices for your business, and easily work with your accountant.
Ensure Compliance With Accurate Reporting
FreshBooks Double-Entry Accounting identifies revenue items and their related
expenses, giving you an accurate calculation of profits and losses.
Automatic checks and balances ensure debit and credit amounts are equal, which
greatly reduces the chance of errors year-round and when you file taxes.
Cost of Goods Sold
Chart of Accounts
Make Confident Business Decisions with Ease
FreshBooks Double-Entry Accounting tools help you make choices based on actual business data and insights.
Set aside enough for tax time, understand the costs of running your business, find out if you have money to hire and confidently forecast your earnings.
Everything Your Accountant Needs… And More
Invite your accountant to your FreshBooks account with just a few clicks. Your accountant will get exclusive access to the financial information and reporting they need to support your business, whenever they need it.
Whether it’s tax time or you need to make financial decisions, working with your accountant is easy.
Tears of Joy for Automated Bank Reconciliation
Did you receive an invoice payment? Purchase a coffee at the airport? Whatever it was, let FreshBooks Bank Reconciliation assist you to make organizing your transactions a breeze.
- Financial transactions are imported and categorized
- Easily approve automated matching suggestions, or make changes and additions
- Equity, transfers and refunds are easily marked and categorized
- Create a summary report and export it to Excel
Overall, FreshBooks is the partner you’ve always wanted to help out with Bank Rec.
Easily Manage Your Bills With Accounts Payable
Do you pay for an internet bill every month? Or pay rent for office space? Accounts Payable in FreshBooks makes it easy to track every bill payment you make and owe to vendors. Plus, run reports like Profit & Loss and Cash Flow Statement to know exactly where you stand at tax time and beyond.
Track Every Type of Transaction with Credits
Have you ever needed to refund a client for a sale? Or wanted to reward a loyal customer with a discount?
The Credits feature on FreshBooks allows you to track prepayments, overpayments and credits notes, that you can easily apply to future invoices.
Plus, keep track of all Credits for specific clients, so you know exactly where you stand.
Need a Second Set of Eyes? Try a Bookkeeper
FreshBooks saves you up to 200 hours a year, but with employees to hire, bills to pay and a business to grow, tending the books can still be overwhelming.
Supporting Your Growing Business
Whether you are a success all on your own or have a vibrant office full of employees, the FreshBooks Customer Support Team is here to help.
Get a hand navigating through reports and information in just 2 rings. FreshBooks ensures you have all the information and tools you need to understand and grow your business.
Contact us today
Frequently Asked Questions
Can I generate a year-end business report in FreshBooks?
The Reports on your dashboard will give you easy access to all of the business reports available in FreshBooks.
Can FreshBooks generate financial reports?
From Profit & Loss to the Sales Tax Summary, FreshBooks gives you standard business reports to help you understand your business’ health. Better yet, you can even easily download the reports to share with your accountant.
Can FreshBooks generate accounting reports for Tax-time?
While FreshBooks doesn’t generate tax-time specific accounting reports, you can easily get all the information you need to file your small business taxes from the reports provided.
Can I generate a Profit & Loss report in FreshBooks?
Absolutely. FreshBooks makes it easy to keep a close eye on the bottom line with Profit & Loss Reports you can whip up in mere seconds. Plus, each account has a spiffy dashboard that neatly displays how much your business has spent vs. earned over your selected period of time.
Can I automatically apply credits to my invoices?
Any credit created for your client, whether it’s a Credit Note, Overpayment or Prepayment Credit, can be automatically applied to invoices generated by a recurring template. Follow the steps here to get it enabled moving forward.