You are a business owner. You’re pursuing your passion and competing in the marketplace. Your customer service is exquisite; your time-management is on point; you’re efficient, effective, multi-tasking and magnificent…except for one thing…how are you managing your money?
You’re not alone, for many solopreneurs and freelancers, fiddling with their finances equals an instant panic attack! Luckily, help is available; and for those who prefer to DIY, your new business BFF is merely a click away. Here are 9 ways the new FreshBooks can help your freelance finances and turn you into a money-management machine!
1. You can now create proposals
Prospective clients begin judging your operation the second you make contact, so you want to make an amazing impression even before bringing in the business. With FreshBooks proposals, you can provide detailed estimates – inclusive of 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 can even translate into a different language or currency. Another nifty feature allows you to turn an accepted proposal into an invoice for billing.
2. You can accept online payments
Want to get paid faster? Accept online payments, period. In fact, businesses that accept credit cards, get paid an average of 11 days sooner than those who 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 paying promptly. Another bonus: Repeat business becomes a snap when customers can save their credit card information for quicker payment next time, which they can with the new FreshBooks.
3. Time Tracking
You probably started your own business to cash in on the one precious commodity that can’t be bought, stored or earned: Time. Time to spend with your family, time to clean the garage, time to take a nap…not time spent watching the clock, so you know how much to bill your clients. Of course, you want to bill for every minute worked, and you want to be able to present your customer with a record of that time, the new FreshBooks does it all for you. Simply press a button and get down to the job. When you’re finished, you’ll get a detailed read-out of how your time was spent; 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 is spending on projects.
4. Payment Reminders
In addition to accepting payments, FreshBooks can also act as your muscle. No one likes chasing around clients to get paid, which is why FreshBooks can do it for you in the form of automatic, customizable payment reminders. They’ll handle the awkward, pay-this-now nudging while you continue to work. FreshBooks can also be set to automatically add on late fees, which may act as extra incentive for clients to keep a clean slate.
If you’re just starting your business, it can be difficult to shoulder all the up-front money it may take to complete a project for a client. With the new FreshBooks, gone are the days of coming out of pocket on the front-end then waiting, (and praying,) the client pays all the expenses you incurred along with the final costs. Now, you can simply request a deposit on the invoice before starting the job, negating the need to finance before finalizing.
6. Recurring Invoices
Repeat business is the dream; 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 easier, (and yours,) with FreshBooks. They provide the ability to automatically create monthly invoices, collect the cash, and even urge those Johnny-Pay-Lately(s) to keep their accounts current.
7. Expense Logging
Taxes, expenses, receipts OH MY! Keeping track of how much your business spends is equally as important as knowing how much it’s earning. It’s also, arguably, one of the most difficult aspects of being a business owner…until now. FreshBooks eliminates the need for additional services, like Shoeboxed, as well as actual shoeboxes in which you keep your receipts! You can connect your bank account or credit card directly, eliminating the need for endless accountability spreadsheets, as all transactions are updated in real time. You can also snap pictures of your receipts, and upload them to FreshBooks, then turn the entire file over to your accountant at tax time. Done and done.
You’re working a lot, you have lots of customers, you must be turning a profit, right?! With FreshBooks, there’s no need to guess, all your profit and loss information is right there on your dashboard. From an accounts aging report to your sales tax summary, all the necessary business reports can be created in FreshBooks, downloaded to Excel, and shared with your accountant. This year, tax time really will be a breeze!
9. Project Management
Doing the actual job is only one part of overall project management. Between the starting line and the finish line, there are numerous steps that must occur. The constant communication with your client, the sharing of 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 eliminates digging through old emails, losing files and missing out on key discussions. In one centralized location, everyone on the project can be invited in, share their contribution and understand their role. Perfect for those who outsource work or send numerous revisions back and forth.
Just remember, running your business doesn’t have to run you ragged! You can spend your time finding clients and fulfilling orders while FreshBooks handles the books like a boss!
FreshBooks invoice software is available on any device – desktop, mobile or tablet and plays nicely with both Mac and PC. Try it free for 60 days.