Written by: Elusanmi Kolade.
Accounting software is the type of application software that enables the recording and processing of accounting transactions within the range of functional modules of trial balance, payroll, general ledger, accounts payable, and accounts receivable.
Working as an integral part of business accounting called “Accounting Information System”, It may be developed in-house by the organization using it, may be purchased from a third party, or may be a combination of a third-party application software package with some local modifications. Accounting software may be an online-based application that can be accessed anywhere at any time with any internet-enabled device, or may be desktop-based. It varies greatly in its complexity and cost.
There are several accounting softwares like Wave, QuickBooks, Sage X3, TurboCash, FreshBooks, and many more. But, we shall talk about the best of the applications which is FreshBooks.
FreshBooks Accounting Software
FreshBooks cloud accounting is built with keen consideration of business owners to get adequately paid for their enterprise. This program entails sending professional invoices fast, adding tracked time, note pricing, calculating expenses, and managing businesses’ finances at a go.
Now with a fully integrated, industry standard double-entry accounting features available on any device, bookkeeping can be easily managed at anywhere and anytime.
It is very important for every smart business owners to protects their assets, and always keep your business finance (capital and profit) in proper check.
FreshBooks accounting software is cloud-based to make sure that every information is well secured, and thus, supports every steps.
FreshBooks is fast with sending professional invoices, making it easier for clients to pay you immediately by credit card within a short space of time.
The software has a ready-made invoice templates with specifics to your field and needs, hence, there is no need of creating customized invoices. All that is required of you is to plug in your client’s information, add pricing and click “send”.
FreshBooks offers you an accessible broad range of features and applications in order to invoice with ease, track expenses and bills, see your financial status and many more.
Creating your customize invoice with your logo and personalized “thank you” emails is also easy to achieve. Add tracked time and expenses and generate advanced reports for your business.
Online Expenses Tracking:
In tracking all expenses online like employees payment, contract reimbursement, and other bills, FreshBooks simply tracks all these expenses in one place.
Time-Tracking:
FreshBooks avails you the opportunity to track the time taken for tasks, and how to charge your clients for time factor. All you need to do is to add a timer and get to work with accurate time tracked after the task. This operation can also be applicable to multiple team members.
Advanced and Accurate Accounting Report:
FreshBooks has a double-entry accounting software that allows you to know exactly how your business is thriving with its financial report at a view.
Your accounting dashboard clearly shows you your financial level in a bid to enable you to make brighter decisions in enhancing your business finances.
In addition, FreshBooks calculates the numbers for you so you have accurate data come tax time.
Profit & Loss:
This detailed balance report shows your total income and your total purchases, bills and expenses to infer the profit or loss your business has made.
Sales Tax Summary:
This accounting software notes the sales taxes you have paid and collected in any period, making calculating remittances easier than ever.
Accounts Aging:
The FreshBooks accounting software Accounts Aging report shows you a summary of invoices that are overdue so as to know which clients need to be sent a reminder.
Invoice Details:
Get an overview of your invoicing with a detailed history of every sent invoice. You can customize your report by date range, client and even payment status.
Expense Reports:
Keep your business spending in check. With FreshBooks accounting software, you get a detailed breakdown of how much you have spent, and where within a given time frame.
Time Entry Details:
Track time worked for specific clients and add pricing to your invoices to get paid for your work. Make every minute and hour count.
Payments Received:
See what payments you have received and from which clients. This report allows you to sort by date range, client and payment method to see all of your payments. Know exactly what you have been earning in your business.
Businesses often juggle multiple projects at a time. It is then important to keep all details well organized and are invoiced in the right way. With project management features, FreshBooks has project management features to simply manage multiple clients and tasks.
In the area of sending invoice quickly and getting paid on time, FreshBooks accepts all major credit cards, so it is convenient for your clients to pay you directly through the invoice. You can even set up a billing schedule to automatically charge your client’s credit card in seconds. Moreover, the cloud-based accounting is evident that payment is always safe and secure.
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