You are a business owner. You are following your passion and competing in the market. Your customer service is outstanding; Your time management is on point; You are efficient, effective, multi-tasking and awesome…except for one thing…how are you managing your money?
You’re not alone, for many solopreneurs and freelancers, scrambling with their finances equals an instant panic attack! Fortunately, help is available; And for those who prefer DIY, your new business BFF is just a click away. Here are 9 ways that New Freshbooks can help your freelance finances and turn you into a money-management machine!
1. You can now create proposals
Prospective clients start judging your operation as soon as they contact you, so you want to make an amazing impression even before you bring in the business. With FreshBooks Recommendations, you can provide detailed estimates – including images and content – that highlight your products and services as well as your professionalism. FreshBooks provides templates for creating proposals that can be modified to reflect your company’s logo, colors and fonts, and even translated into a different language or currency. Another nifty feature lets you turn an accepted proposal into an invoice for billing
2. You can accept online payments
Want to get paid fast? Accept online payments, period. In fact, businesses that accept credit cards get paid an average of 11 days sooner than those that don’t. FreshBooks makes it easy for your customers to use major credit cards, apply Pay and Stripe, and gives you the option to offer a discount for immediate payment. Another bonus: Repeat business becomes a snap when customers can save their credit card information for quick payments next time, which they can do with the new FreshBooks.
3. Time tracking
You’ve probably started your own business with a precious commodity that can’t be bought, saved or earned: time. Time to spend with your family, time to clean out the garage, time to sleep…time doesn’t pass by looking at the clock, so you know how much to bill your clients. Of course, you want to bill for every minute you work, and you want to be able to present a record of that time to your customer, the new FreshBooks does that for you. Just push a button and get down to work. When you’re done, you’ll get a detailed readout of how you spent your time; You can then add that log to the client’s invoice. There’s also a feature to track the time each member of your team spends on a project.
4. Payment reminders
Besides accepting payments, FreshBooks can also act as your muscle. No one likes to chase clients for payment, which is why FreshBooks can do it for you in the form of automated, customizable payment reminders. They’ll handle the awkward, here-and-now nudging while you continue working. FreshBooks can also be set to automatically add late fees, which can act as an extra incentive for clients to keep a clean slate.
If you are just starting your business, it can be difficult for a client to afford all the up-front money required to complete a project. With the new Freshbooks, gone are the days of coming out of pocket on the front end then waiting, (and praying,) for the client to pay all the costs you incurred, including the final costs. Now, you can request a deposit on the invoice before starting work, negating the need for financing before finalization.
6. Recurring invoices
Repeat business dreams; Regular clients who pay for your services every month, like clockwork… except when they don’t! Once your business has secured clients who pay a flat-rate at the same time each month, you’ll want to make their lives (and yours) easier with FreshBooks. They offer the ability to automatically generate monthly invoices, collect cash and even prompt those Johnny-Pay-Lately(s) to keep their accounts current.
7. Cost Logging
Taxes, expenses, receipts oh my! Keeping track of how much your business spends is just as important as knowing how much it’s making. This is, arguably, one of the hardest aspects of being a business owner…by far. FreshBooks eliminates the need for additional services, such as shoeboxed, as well as the actual shoebox where you keep your receipts! You can link your bank account or credit card directly, eliminating the need for endless liability spreadsheets, as all transactions are updated in real time. You can also take pictures of your receipts and upload them to FreshBooks, then return the entire file to your accountant at tax time. Done and done.
You’re doing a lot of work, you have a lot of customers, you must be making a profit, right?! With FreshBooks, there’s no need to guess, all your profit and loss information is on your dashboard. From account aging reports to your sales tax summary, all essential business reports can be created in FreshBooks, downloaded to Excel, and shared with your accountant. This year, tax time will truly be a breeze!
9. Project Management
Doing the actual work is only one part of overall project management. Between the start line and the finish line, there are many steps that must take place. Constant communication with your client, sharing files and images, working with others on your team; It can all be overwhelming without FreshBooks. With FreshBooks, however, all the information is in one place. It means digging through old emails, losing files and missing key discussions. In a centralized location, everyone in the project can be invited, share their contributions and understand their role. Perfect for those who outsource work or send numerous revisions back and forth.
Just remember, you don’t have to be angry to run your business! You can spend your time finding clients and filling orders while FreshBooks manages the books like a boss!
FreshBooks Invoice software is available on any device – desktop, mobile or tablet and works beautifully with both Mac and PC. Try it free for 30 days.