12 Useful Features You Might Not Know Are in FreshBooks
Whether you use FreshBooks simply for invoicing or explore every new feature for more ways to automate your growing business, there’s something for everyone. We recently reached out to some FreshBooks users to understand which features were game-changers when it comes to running their business. Thanks to their feedback, we’ve profiled a dozen of those favorite features here.
Use PayPal to Accept Payments Across the Globe
Thanks to the modern world we live in today, you can reach clients all over the world. And that means you’re doing business in multiple currencies. While a great problem to have, it can definitely cause a few headaches when it comes time for payment.
Say goodbye to manually converting invoices into your client’s currency ever again. If you do business across the globe, it’s a no-brainer to include PayPal in your toolbelt of online payment options.
With PayPal, you can get paid in 25 different currencies from 202 countries directly on your FreshBooks invoice. And everything is conveniently tracked in your FreshBooks account in your own currency, making it way easier to track your revenue come tax time.
The Convenience of Bank Transfers (ACH) 🇺🇸
There’s no one-size-fits-all when it comes to clients. And each has their own preferred method of payment. Some opt for online payments, while others like to stick with physical checks. At the end of the day, it’s money in your pocket.
But as inflation increases and credit card fees continue to gouge your business bank account, you may be looking for a less costly online payment method. That’s where Banks Transfers (ACH) come in. At 1% per transaction, bank transfers have one of the lowest costs associated with any payment system.
While this payment method is only available in the U.S., FreshBooks also offers BACS Direct Debit in the U.K. and SEPA Direct Debit in Europe. Here’s how Dave of SeaDog IT used Direct Debit for recurring payments for his U.K. clients.
Gusto Integration Makes Payroll Easy Peasy 🇺🇸
If you’ve recently grown from a team of 1, then you understand how much more complex your accounting is now that you manage payroll, calculate different types of taxes, fill out new tax forms, and set up direct deposit.
Yikes! With all this on your plate, switching back and forth between your payroll and accounting software to ensure every detail is accounted for can really kill your productivity buzz.
Not anymore. Using the Gusto integration on FreshBooks, you can now run your payroll and track every expense right from your FreshBooks account. What’s more, Gusto’s all-in-one payroll software supports you in onboarding, paying, and insuring your employees.
Outside the U.S.? Check the FreshBooks app store for payroll integrations available in your region.
Never Miss a Trip With Mileage Tracking 🇺🇸 🇨🇦 🇬🇧
Keeping track of your driving can be a huge hassle. Between logbooks, gas station receipts, and remembering which trips are actually work-related, it’s easy to lose track of what you can claim on your taxes.
Whether you’re logging miles in the U.S. or tracking kilometers in Canada, you can now automatically track it all with FreshBooks’ Mileage Tracker. Not to mention, you can also easily categorize trips as business-related and see your potential tax deductions—all from within the FreshBooks mobile app.
Note that this feature is only available in the U.S., Canada, and the U.K.
Get Control Over Your Books With Chart of Accounts
If you’ve ever worked with an accountant, you know how crucial it is for your business financials to be accurate and up to date. This includes tailoring your Chart of Accounts to create insightful and useful Reports.
To help, we’ve launched the customizable Chart of Accounts [beta]. It gives you and your accountant more control over your Accounts and Subcategories, so you can customize and scale them as your business continues to grow.
If you’re interested in trying this new feature, join the priority waitlist here.
Even More Features to Fall For
Bill Via Checkout Links for 1-Step Payments
An invoice can be overkill when charging a one-time fixed price to a customer. That’s when Checkout Links come in handy—they’re an invoice-free way to let your customers pay in a single click via bank transfer or credit card.
Keep Workflow Consistent With Retainers
If you’re looking for stable, recurring income to carry you through the dry months, you’ve come to the right place. You can now set up Retainers in FreshBooks for a fixed amount and track time towards it. A perfect fit for all the agency owners and consultants out there.
Invoice Upfront Using Partial Payments
Need a safety net against all those “nay-payers”? Start by adding Partial Payments to your invoice. It allows you to charge a percentage or fixed amount of payment upfront. And it’s available on FreshBooks Payments powered by Stripe and PayPal for all payment types.
Automatically Capture Receipt Data
Don’t find categorizing expenses exciting (who does)? Luckily FreshBooks’ Digital Bills and Receipt Scanner captures the merchant, totals, and taxes from any receipt you upload or send to a dedicated email.
Track Every Project’s Performance
Get a full breakdown of a project’s income, costs, and profits using the Project Profitability feature. Not only will you get a better sense of your project and client ROI, but it may even help you save $2,000 a month (like Zachary!).
Use Credits to Track Over or Under Payments
Sometimes, a project doesn’t go according to plan. And maybe that means you need to apply a credit, discount, or refund on an invoice. With the Credits feature, you can track any prepayments and overpayments on invoices, so you’ll know exactly what your clients owe.
Get Paid on the Go With Advanced Payments
If you’re typically on the road, then you’ll love Advanced Payments. This FreshBooks add-on features a virtual terminal that securely stores credit card information and processes payments on the spot. You’ll always be ready to charge clients wherever you are.
FreshBooks Is Always Here to Help
Ready to try these features out? If you have a list of detailed questions or just need a hand getting started, our Support team is here to help you out. Contact them here.
This post was updated in April 2024.