FreshBooks: The Brachiosaurus of Accounting Solutions

The brachiosaurus is the largest known species to have existed on our earth.  They were massive creatures with migratory habits necessary to sustain their large eating habits. With that in mind, it’s the perfect preface to introduce our next featured platform for our accounting solutions Dino Series: FreshBooks.

Brachiosaurus of Accounting Solutions

Freshbooks is the #1 cloud accounting specialist for small business owners, second only to Quickbooks Online in North America. For years FreshBooks has been the ‘big guy’ in online billing and invoicing because of its easy to use functionality, broad-spectrum industry application and out of this world customer service (we can attest firsthand to their great customer service!).

With its heritage in billing, FreshBooks recently began a new and exciting migration route down the path of cloud based accounting solutions.  Their herd of loyal users have taken advantage of the accounting style reports for years and have long described the platform as their preferred choice of accounting solutions, so this new path was no surprise to us. Over the past four years, FreshBooks’ enormous full feature set of tools have uncovered a fresh business trail for this growing company and their 4.5 million users are more than happy to follow this jolly long neck on its newest adventure.

Being the largest creature to ever grace our earth, an adult Brachiosaurus didn’t have any predators (must be nice!). Similarly, it’s pretty tough to find any competition that stacks up against FreshBooks in the invoice/billing world. Their recent product introductions (such as: expense-tracking capabilities, profit and loss statements and more) have already become invaluable assets to their new accounting solutions positioning. Here is what you can expect from our Brachiosaurus friends at FreshBooks:

FreshBooks Strengths:

  • Easy to use and great customer service
  • Easy external collaboration
  • Project and document management
  • Numerous add-ons/integrated sites (like Shoeboxed!)
  • Cloud-based and compatible with multiple devices
  • Completely affordable (most expensive plan is $39.95, excluding add-ons)

FreshBooks Weaknesses:Brachiosaurus of Accounting Solutions

  • Not designed for every kind of business’ accounting needs
  • Isn’t an in-depth/all-in-one accounting solution (BUT integrates with other accounting platforms to fill any gaps)
  • Can get pricey if you need multiple staff members to have access

FreshBooks is best for business owners who:

  • Are in the service industry (lawyers, therapists, plumbers etc.)
  • Are swamped with managing receivables
  • Own small businesses looking to scale
  • Work directly with their accountant and/or other accounting platforms
  • Are freelancers
  • Own a company that outsources a great deal of work to freelancers

With its famously long neck, the Brachiosaurus appeared to have its head in the clouds. But we don’t look at that as a bad thing. In fact, with the future of computing moving more and more into the cloud, FreshBooks is actually leading the way for many small business owners.

Don’t get stuck in the Mesozoic Period when looking at accounting solutions for your business: consider migrating with FreshBooks! You might be pleasantly surprised how helpful its feature set is at helping you with your business’ needs.

Is FreshBooks your preferred choice out of all of the accounting solutions? Tell us what you think in the comments below!

Wave Accounting: The Velociraptor of Accounting Solutions

Wave Accounting: The Velociraptor of Accounting Solutions

Thanks to Jurassic Park, the Velociraptor has earned the reputation of being the stealthiest and smartest killer to grace the cretaceous period. With similar speed and agility, Wave Accounting slipped into the accounting systems jungle in 2010 and has been busy devouring the competition since. So, without further delay, here is the third installment of our accounting solutions series.

Before we scare anyone, rest assured that Wave only shows its claws when it comes to the competition (Velociraptors actually had feathers – please see below). For it’s countless users, Wave is a free, one-stop shop accounting solution that has quickly become one of the fastest growing accounting systems in the world.

Wave Accounting: The Velociraptor of Accounting SolutionsSimilar to the pack hunter mentality of Velociraptors, Wave Accounting has gathered a horde of affiliates and partners to help it overwhelm the competition. These partnerships allow Wave to provide its product completely free of charge through offering partner promotions for its users inside the app. Unless you’re a Wave competitor, this strategy is a win/win!

Being the nimble up and coming accounting solution, here is what you can expect from Wave:

Wave Accounting Strengths:

  • Completely free, always
  • Built for small business owners to be very user-friendly (Smart Interface)
  • Minimizes manual entry
  • Integrations with your bank/credit cards for automatic expense tracking (with de-duplication features to keep transactions from being logged twice)

Wave Accounting Weaknesses:

  • No Payroll in the U.S. until late 2012 (Only available in Canada currently)
  • Unobtrusive advertisements, but ads nonetheless
  • Some users have issues with foreign bank integrations and bank feeds

Wave Accounting: The Velociraptor of Accounting SolutionsIn fairness, we learned during our research that the Velociraptor was actually about three feet tall and covered in feathers (okay, it’s not as ferocious as the Spielberg version). That said, this dinosaur was one of the deadliest and shrewdest prehistoric animals. We warn you not to overlook Wave just because it looks like a little guy in the accounting world. Doing so could land you in a dangerous position.

Wave Accounting is probably best for business owners who are:

  • Small businesses and microbusinesses
  • Mompreneurs and WAHMs
  • Photographers, freelancers, independent entrepreneurs
  • Individuals

If you’re ready to take a bite out of the effort you put into accounting for your small business, try Wave Accounting. It’s always free, so imagine a permanent free trial. Then you can tell your clients you’ve got a Velociraptor on your side!

Is Wave your preferred accounting solution? If so, tell us what you think!