If you are a FreshBooks user, you’d know that it is one of the most widely used cloud-based accounting tools for small and medium businesses. It can help you with a number of online accounting tasks like invoicing, billing, payment etc.
You might have explored a number of these features, but there are some you might not have been able to detect. Here are some of those hidden FreshBooks tips that you could explore to enhance your experience of dealing with these tasks.
It can be an irksome job for business owners, particularly for SMBs to set up online payments and having to integrate it with the billing tool. FreshBooks has a solution for that. It has a redesigned payment experience to suit the SMBs. It accepts payments through online payment gateways and also through credit cards. So businesses can accept credit card payments and clients can immediately pay invoices. It saves your time by automatically importing the transaction fees as expenses. When you go to the online payment section and select the FreshBooks box you can directly view the payment status in the account dashboard. Also, in the invoice mails, there’s a Pay Now option which will directly lead you towards a Secure Payments Page. You can easily skip the setup forms by selecting the FreshBooks payments box if you do not follow a complicated billing structure.
Cost of Goods Sold
If yours is a service based business or you run an e-commerce website, it is a tough task keeping track of the Cost of Goods Sold or COGS. FreshBooks provides options to make this task a lot less difficult. It has a number of options to choose the type of COGS expense in the Profit and Loss section like office expenses, contractors, advertising or other categories like travel, postage etc. It also provides an option to add your own sub categories. All you need to do is select Edit from the expense list and select category from the drop down menu to add your new category or subcategory.
Freshbooks offers so many options for customization and formatting that are overlooked by most businesses. You can add logo and change the color scheme, according to your company’s from the Colors and Logos in the Setup Options. You can change the looks and headings of your invoices. The emails that you send to your clients are also customizable. The Miscellaneous Settings page offers a number of options for customization too. You can choose the number of lines you want to see on the invoice. You can choose not to have FreshBooks’ color scheme and logos by unclicking the FreshBooks Branding option. Also, there are options to add pop-up messages to welcome your clients.
The Bottom Line
There are plenty of other options you can explore in this tool to make your accounting tasks a lot less tedious. It has project management capabilities and a built-in help desk to deal with your client issues directly. Make sure you take full advantage of this platform so that your monthly subscription fee is not wasted just using the basic features.