Five Secret FreshBooks Tips for SMBs
Posted by Jack P. Yon on 26th June 2020

If your business remains slowed down in guide strategies and paper with regards to accounting and invoices, it’s long past time to embrace the cloud. There are masses of first-rate cloud-primarily based accounting options ranging from small commercial enterprise software program all the way up to organization accounting structures, but one of the maximum widely used services is Freshbooks.

There are loads to like about FreshBooks, from its pinnacle-notch price and time-monitoring functions to its deep financial reporting and long list of add-ons and integrations. But the platform additionally holds many hidden capabilities and options to improve both the enterprise and customer experience. The following are five of the most beneficial recommendations and hints to simplify invoicing, enhance purchaser care, process bills, and tune expenses so that you could make the most of your business’s FreshBooks investment.

1. Painless Payments
For sole proprietors and proprietors of small to midsize groups (SMBs), especially within the provider enterprise, putting in place online payments and integrating it with billing software can be a hair-pulling undertaking. One component many SMBs aren’t aware of is that FreshBooks gives a redesigned bills revel in particularly designed for SMBs.

FreshBooks accepts bills via credit score card in addition to online payment gateways inclusive of PayPal and point-of-sale (POS) software program, which includes Stripe. The FreshBooks payments experience lets in companies to just accept credit card bills and clients to pay invoices proper away, routinely imports charge transaction prices as expenses to shop time, and includes loose auto-billing functionality. On the New Invoice page, test the FreshBooks box inside the Online Payment section which, when decided on, we could business users view the repute of a fee without delay inside the account dashboard; it also gives customers a Pay Now alternative in bill emails leading to a Secure Payment web page. If your business is constructed on simple transactions without a complex billing shape, check the FreshBooks payment container and skip all of the setup forms.

2. Greasing the COGS
For service-based groups and online outlets or e-trade websites logging a whole lot of product income, there is arguably no more important accounting cost to music than Cost of Goods Sold (COGS) or the sporting price of products offered at some point of a selected monetary period. If you need to mark a fee or an income and loss class in FreshBooks as COGS, it could mean anything from merchant account charges and custom branding offered for clients, to resources or services for a bodily product, and the fee of shipping an order.

To wrangle and log all of these shifting COGS in FreshBooks, head to the Profit and Loss phase of your expenses and edit cost classes to pick out what sort of COGS rate a given charge is. Options include advertising, contractors, employee benefits, office costs and postage, expert services, travel, and numerous different categories. Beneath the one’s fundamental categories, you could also create and check subcategories of COGS prices. Adding a cost class is easy as properly; genuinely click on Edit inside the rate listing, open the Category drop-down menu, and name a new category or subcategory in tax-pleasant language.

3. Unlock Helpdesk and Project Management
A cloud accounting platform is never only a cloud accounting platform anymore. For all FreshBooks can do with invoicing, cost monitoring, economic reporting, taxes, and extra, it is usually subtle capability to create and fulfill items, initiatives, and responsibilities in addition to an integrated consumer help system. A useful trick to maintain matters organized and make estimates and invoicing easier is to designate rate gadgets in FreshBooks. This sort of undertaking management functionality simplifies billing workflows by growing items and obligations to insert without delay into a bill or record at a set cost.

To start taking gain of the FreshBooks integrated help desk, in reality, go to Settings and Permissions and allow the Client Management and Ticket Administration settings. This permits commercial enterprise customers to manage tickets at once in FreshBooks, and address customer requests and problems as they come up from within the application—without having to interface with a separate help table platform.

4. How to Keep It All Synchronized
Synchronization mistakes are the bane of many FreshBooks users’ existence. Especially if you’re hooking FreshBooks into other programs, sync troubles can often bring about statistics duplication or misplaced documents and contacts, in particular, while you get bookkeeping concerned. FreshBooks has pinnacle-notch time-tracking and invoicing skills, however, in case you get another software worried for bookkeeping or for interfacing immediately with e-commerce websites which includes Amazon or eBay, changes in one app do not constantly make it to another.

While there may be nothing you may do in FreshBooks to save you a sync trouble in some other utility, the perfect and maximum complete manner to cover your bases is to create sales and receivables reports in each app. Cross-referencing the ones totals, at the side of growing a monthly checklist of regions for your self and your clients to check, will come up with a smooth manner to ensure that totals healthy and construct in some redundancy in case of a sync errors, be it a missing or mal-adjusted invoice or a charge item that doesn’t upload up.

5. Customize, Customize, Customize
FreshBooks includes a ton of integrated customization, formatting, and templating alternatives that many groups do not take complete gain of. Take the time to enhance and tailor your patron enjoy. In Setup Options, click on the Colors & Logos web page to alternate the menu shade in your agency’s shade scheme and add your business enterprise brand. The client must sense as though they are logging in for your enterprise’s online accounting internet site, no longer FreshBooks’.

In Templates, you could select how your invoices look and customize the title of the invoice, estimates, and credit headings with the choice to reveal a bills stub for the ones customers printing their invoices. You also can personalize the emails a patron receives whilst an invoice is despatched, so take some time to craft a custom challenge and electronic mail frame to the patron.

Finally, on the Miscellaneous Settings page, you can allow direct email bill hyperlinks, decide how many traces you need to see on the invoice, unclick the FreshBooks Branding option to do away with their logos and color scheme in desire of your very own, and add different bells and whistles together with textual content under your logo and dad-up welcome messages for whilst clients view their page. FreshBooks gives an extra visually compelling consumer enjoy than most other online accounting platforms so do not waste your month-to-month subscription rate with the aid of most effective scratching the floor of what it is able to do.

Originally posted 2017-11-14 05:56:23.