Using Freshbooks for Small Business: How to Get Started
Can you believe that 25 percent of small businesses still track their finances on paper? And, nearly half don’t hire an accountant!
Having organized and accurate financial records is crucial for small businesses.
If your invoices don’t get paid or you spend too much, your business won’t last. It’s important for all small businesses to use reliable and straightforward accounting software, like Freshbooks.
Freshbooks makes accounting easy for small business owners. Keep reading to learn how to get started.
1. Create Your Account
Freshbooks makes it super easy to create your account. Simply go to the signup page and fill out the form. Then, click “My Account” and under the billing section, start your free 30-day trial.
Many accounting software programs have free trials for you to test out their services. When it comes to Quickbooks vs Freshbooks, Freshbooks is easier for non-techy business owners to use.
To create your account, you’ll need an email, password, and business name. You will also need to upload your business’s logo. This will get added to your company’s invoices.
2. Add Your People
Before you can send invoices or track spending, you need to assign people to your account. These are your vendors, suppliers, employees, customers, and clients.
Start by going to the “People” tab. If you want to add a client, click “+ New Client.”
Here you can enter their contact information as well as how you want to send them invoices. Some clients like email, others still prefer snail mail.
Within the “People” tab, you can assign different clients to different team members. It’s great for company organization.
3. Create Your First Invoice
When it’s time to send an invoice, go to the “Invoices” tab. Select “Create an Invoice.”
You can choose from your list of clients who you want to send the invoice to. And, you can choose to bill them for products/services, time, or both.
Enter the invoice description and price. Make sure you set your Terms and Late Payment Fees. The client will be able to see these sections on the invoice.
When you’re done filling out the information, either send it off or save it as a draft. You’ll get notified when it’s paid.
4. Track Your Expenses
The final step to setting up your Freshbooks account is tracking your spending. All small businesses have expenses and, come tax season, it’s crucial that they’re tracked accurately.
Select the “Expenses” tab and either import expenses from your credit cards or create new expenses. You can choose what category to file them into, like Office Equipment or Travel.
Add your receipt if you have it. If not, simply press save and you’re good to go!
Ready to Get Started with Freshbooks?
There are many small business accounting software programs out there. But, Freshbooks is by far the easiest to learn.
For any non-tech-savvy business owners, you’ll find Freshbooks much better than your paper system.
If you want your business to run smoother and be more organized, embrace technology. Check out the Technology section of our site for more guides.