There are dozens of fantastic invoicing software solutions on the market today. So many, that picking one is challenging and time-consuming. You’ve got to know what your business needs first, then sort through every option and look closely at each one’s features and customer service. After all, you don’t want to invest your time and money into software that isn’t best for your company.
We’ll make your shopping much easier: two of the top invoicing brands out there are Quickbooks and Freshbooks. Many consider these the gold standard of cloud invoicing software. In this article, we’ll compare each product’s offerings, then give you a recommendation based on your business’s needs.
First of all, let’s explore the main attraction — the invoicing features of each.
Quickbooks make it easy to generate clean, professional invoices in a matter of minutes, if not seconds. It offers ready-to-go templates, or you can build your invoice from the ground up to reflect your brand. Once you finish creating your invoice, you can shoot them over to your client via email, and your client can pay via ACH or credit card. You can track whether they viewed your invoice, allowing you to time follow-up emails and speed up payment. On top of that, you can create estimates/quotes, convert them to invoices, then turn your invoices into receipts quickly. It streamlines the entire payment collection process.
Quickbooks excels in invoicing, but Freshbooks has its own advantages. For one, its invoice builder is powerful yet takes only a minute or so to familiarize yourself with. You can customize all sorts of aspects of your invoices, from logo and branding to payment terms. Freshbooks also lets you create recurring invoices in seconds, helping you get paid on your retainer agreements or monthly subscription plan clients. Like Quickbooks, Freshbooks offers both credit card and ACH payment links on its invoices.
Tracking expenses helps with billing clients properly, allocating your expenses to clients, taxes, and much more. Keeping paper copies is risky, though, as you could lose or damage them. Therefore, invoicing software with expense tracking is incredibly useful. Luckily, Quickbooks and Freshbooks both can track expenses.
Quickbooks has a variety of features for recording, organizing, and evaluating your expenses — especially on the move. For one, you can use the Quickbooks mobile app to snap photos of receipts for tracking purposes. Makes it harder to forget to record those expenses later. Quickbooks also has a mileage tracker for business miles. Just turn on the mobile app mileage tracker and drive. Quickbooks will keep track using GPS. Along with that, of course, is the ability to link your bank accounts and keep track of your spending.
Freshbooks offers most of the same expense-tracking features that Quickbooks does. The only major difference here is UI. Some may prefer the Freshbooks UI over Quickbooks and vice-versa.
Quickbooks and Freshbooks are pretty close when it comes to invoicing and expense tracking. There are some nuances in other features that distinguish each from the other, though.
- Inventory management: Quickbooks has an inventory management module, obviously helpful for product businesses. You can quickly analyze what you have in stock to place orders with your vendors as needed.
- Accountant access: Does your business have an accountant to manage your bookkeeping and taxes? Quickbooks make their job (and your life) easier by letting you set up accountant access. Your accountant can then do your bookkeeping and any other tasks you may have for them.
- Point-of-Sale: If you do any in-person sales — maybe you’re a brick-and-mortar store — Quickbooks offers PoS solutions that integrate with your Quickbooks online account.
- Time tracking: Professionals that offer services need to track their time to bill clients… and to know when it’s time to raise rates. Freshbooks lets you start and stop its intuitive time tracker with the click of a button.
- UI: Not a feature on its own, but Freshbooks invested heavily in beginner-friendly UI. If you’re just launching a side hustle or new business, and you’re not ready for advanced functionality, Freshbooks is easy to pick up.
- Support: Quickbooks has plenty of support resources, sure, but Freshbooks routinely gets praise and props for its outstanding customer service. According to reviews, customer support is easily accessible and extremely responsive for those rare occasions you even need it.
Lastly, it’s important to note that Quickbooks is more expensive than Freshbooks. However, they make up for it with a broader array of features.
This brings us to our verdict.
Quickbooks vs. Freshbooks: The Verdict
Both Quickbooks and Freshbooks are some of the strongest invoicing applications on the market today. Freelancers and small businesses alike could do quite well with either one. That said, Freshbooks appears to have a slight edge in invoicing and time tracking. Thus, it might be your best bet if you’re a freelancer or professional services firm. Businesses that sell digital products could also make good use of Freshbooks, although Quickbooks may be better for them.
On the other hand, Quickbooks is a more all-around package. It has features that suit more types of business. If you’re a product-based business or just want a wider range of features at the slight expense of billing and invoicing, Quickbooks might be the way to go. Some companies even use both to get the best of each one. Combining them will cost you more, but hey, at least your investments in each solution are possible tax write-offs.