The major difference between FreshBooks and QuickBooks is the customer. For FreshBooks, the customer is the business owner and for QuickBooks the customer is the accountant. FreshBooks understands that business owners could care less about credits, debits and the dreaded T accounts. Business owners don't have time to decipher or even worse, build complicated financial reports. That is why I recommend FreshBooks for business owners as the model is KISS (keep it simple stupid). Business owners still have to get the accountant the information they need to satisfy the IRS at tax time.
On August 19th, 2014, FreshBooks introduced an easier way to share reports with the accountant. A business owner can now invite their accountant to the Accountant Center which gives them read-only access to reports and journal entries whenever they need them.
The FreshBooks blog states "Now you can spend less time going back and forth trying to get your financial information into your accountant's hands (especially during the busyness of tax time). Your accountant will love that you're keeping your business transactions organized in FreshBooks, and can easily give them secure access to the information they need anytime. Wouldn't it be nice if your accountant spent less time on data entry and more time on services that add value to your business?"
With this new feature, the blog goes on to say "Wondering what your accountant will see when they connect? They'll have an organized display of all of their connected FreshBooks accounts where they can view and export clients' Journal Entries and Reports (like Tax Summary, Expense and Profit & Loss). Now that all of their clients are in one convenient place, there's no headache of remembering multiple passwords." (Source: www.freshbooks.com/blog/2014/08/19/new-accountant-center)
The Accountant Center answers more Frequently Asked Questions like:
"Can I have more than one accountant attached to my FreshBooks account? Currently you can only have one accountant at a time attached to your account; however, you can change your accountant by removing your current one and adding another.
How do I know my accountant is connected? The quickest way to tell that your accountant is connected is to head over to the People tab in your account and then to the Accountant sub tab. From here, if you see a grey "Remove Accountant" button along with your accountants contact information they are connected. If you see a grey "Cancel Invitation" button your accountant has not yet accepted the invite." (Source: www.community.freshbooks.com/support/accountant-center-for-the-freshbooks-user)
Now, we see how FreshBooks is making a win (easy bookkeeping for the business owner) - win (timely reports for the accountant) to LOWER the cost of doing business! The lower cost is the ultimate win for the end-user, the customers of the business. This system just gets better and better!
Nicole Newman is passionate about seeing businesses grow using technology tools that increase productivity. The digital divide is separating the United States into two communities: technology-savvy and technology-illiterate. With a Temple University bachelor's degree in Management Information Systems, she is armed with solutions.