Single sign-on capability
The software system supports a centralized authentication mechanism allowing the user to access multiple systems with a single, centrally managed password.
Cat avg: 8.8
Top Performing Features
Cost of goods sold
The software calculates the direct costs attributable to a finished product, such as materials and labor, and includes roll-up pricing.
Cat avg: 8.5
Role-based user permissions
Permissions to perform actions or access or modify data are assigned to roles, which are then assigned to users, reducing complexity of administration.
Cat avg: 8.8
Credit card processing
The software facilitates credit card processing.
Cat avg: 7.7
Worst Performing Features
Custom reports
Users can create custom reports.
Cat avg: 8
Regulations compliance
The software helps users adhere to typical accounting standards and regulations such as IFRS, GASB, or GAAP.
Cat avg: 8
Expense management
The software can log and track business expenses and reimbursements, including travel-related expenses, with the ability to tie them to particular projects.
Cat avg: 8.5
FreshBooks Features from Reviews
Customization
This addresses a company’s ability to configure the software to fit its specific use case and workflow.
9.1+16%
API for custom integration
An API (application programming interface) provides a standard programming interface for connecting third-party systems to the software for data creation, access, updating and/or deletion.
Category average: 8
Plug-ins
A number of third-party plug-ins are available to expand the core functionality of the software.
Category average: 7.9
Security
This component helps a company minimize the security risks by controlling access to the software and its data, and encouraging best practices among users.
10.0+15%
Single sign-on capability
The software system supports a centralized authentication mechanism allowing the user to access multiple systems with a single, centrally managed password.
Category average: 8.8
Role-based user permissions
Permissions to perform actions or access or modify data are assigned to roles, which are then assigned to users, reducing complexity of administration.
Category average: 8.8
Reporting & Analytics
Users can report on and analyze usage, performance, ROI, and/or other metrics of success.
7.5-7%
Dashboards
Users can create, customize and share dashboards, which provide an overview of the most important metrics.
Category average: 8.1
Standard reports
The software offers pre-built reports with metrics standard to the category.
Category average: 8.5
Custom reports
Users can create custom reports.
Category average: 8
General Ledger and Configurable Accounting
Financial management solution, including capabilities for general ledger and configurable accounting
7.5-8%
Accounts payable
This includes the automation and tracking of payment to vendors and suppliers, with features such as payment scheduling, check printing, open purchase order alerts, document management, direct ACH bill payment, and vendor records.
Category average: 8.7
Accounts receivable
This includes the management and automation of invoices and collections, with features like statements, invoices, receipts, payment reminders, customer records, auto billing, and refund checks.
Category average: 8.7
Cash management
The software provides a complete picture of a company’s cash flows, streamlines payment processing, and includes cash forecasting.
Category average: 8.4
Bank reconciliation
The software connects to a company’s financial institutions in order to reconcile accounting records with checking, savings and credit card accounts. Often month and year closing capabilities are included.
Category average: 8.5
Expense management
The software can log and track business expenses and reimbursements, including travel-related expenses, with the ability to tie them to particular projects.
Category average: 8.5
Time tracking
The software can track billable and non-billable employee time by project.
Category average: 7.9
Multi-currency support
The software supports transactions across multiple currencies.
Category average: 8.3
Regulations compliance
The software helps users adhere to typical accounting standards and regulations such as IFRS, GASB, or GAAP.
Category average: 8
Self-service portal
The software provides online portals for certain stakeholders to find information relevant to them, such as employees, vendors and customers.
Category average: 8
Order Management
The ability to process orders, and track them from quote to cash.
9.5+18%
Pricing
Users can set up complex and unique pricing requirements.
Category average: 8.4
Order entry
Users can enter an order once, and the data flows to all the necessary units such as fulfillment and billing.
Category average: 8.4
Credit card processing
The software facilitates credit card processing.
Category average: 7.7
Cost of goods sold
The software calculates the direct costs attributable to a finished product, such as materials and labor, and includes roll-up pricing.
Category average: 8.5
FreshBooks Features from the Vendor
General Ledger and Configurable Accounting
Vendor-contributedAccounts payable
This includes the automation and tracking of payment to vendors and suppliers, with features such as payment scheduling, check printing, open purchase order alerts, document management, direct ACH bill payment, and vendor records.
Accounts receivable
This includes the management and automation of invoices and collections, with features like statements, invoices, receipts, payment reminders, customer records, auto billing, and refund checks.
Bank reconciliation
The software connects to a company’s financial institutions in order to reconcile accounting records with checking, savings and credit card accounts. Often month and year closing capabilities are included.
Expense management
The software can log and track business expenses and reimbursements, including travel-related expenses, with the ability to tie them to particular projects.
Time tracking
The software can track billable and non-billable employee time by project.
Regulations compliance
The software helps users adhere to typical accounting standards and regulations such as IFRS, GASB, or GAAP.
Primary and Secondary Ledgers
Record and report across multiple currencies and accounting standards with primary and secondary ledgers
Order Management
Vendor-contributedPricing
Users can set up complex and unique pricing requirements.
Order entry
Users can enter an order once, and the data flows to all the necessary units such as fulfillment and billing.
Credit card processing
The software facilitates credit card processing.
Payroll Management
Vendor-contributedPay calculation
Pay calculation provides for computation of employee pay with state and federal deductions.
Salary revision and increment management
Salary revision is the ability to modify individual employee pay.
Reimbursement management
Reimbursement management provides cash reimbursement for employee expenses related to business travel or other.
Reporting & Analytics
Vendor-contributedDashboards
Users can create, customize and share dashboards, which provide an overview of the most important metrics.
Standard reports
The software offers pre-built reports with metrics standard to the category.
Customization
Vendor-contributedAPI for custom integration
An API (application programming interface) provides a standard programming interface for connecting third-party systems to the software for data creation, access, updating and/or deletion.
Plug-ins
A number of third-party plug-ins are available to expand the core functionality of the software.
Security
Vendor-contributedRole-based user permissions
Permissions to perform actions or access or modify data are assigned to roles, which are then assigned to users, reducing complexity of administration.