Freshbooks: Automate Your Invoicing and Accounting as a Creatorpreneur (2022)
Whatās the software you use to automate your small business accounting? Specifically, we are talking about invoicing and collections.
This may not be the most exciting topic for some of you, but itās still one of the most important aspects of any business.
When you are using the right software and automating the process, all you have left to do is to sit back, relax and watch the money hit your bank.
No forgetting to invoice your clients.
No unnecessary follow-ups.
No confusion on how the client needs to submit payments (domestic or international).
Itās beautiful! Say ahhhā¦
Iāve been using FreshBooks since 2016, and that was the very beginning of Feisworld LLC. My fellow entrepreneur and friend Jordan Clayton and I used to say that FreshBooks is the best $25 we spend each month.
Here is how I use it.
Freshbooks: The Setup
- I create all my clients (name, email, address) as contacts inside FreshBooks and add new ones as needed
- I draft one-off invoices as soon as a project receives a verbal commitment. When the clients are ready to move forward, I immediately send the invoices to them right from FreshBooks
On the invoice, I make sure to:
- Set clear due dates (Net 5 – thatās right, I get paid within 5 days of the sent invoices; for retainer clients, they always pay at the beginning of each month)
- Multiple options for payments including domestic and international options – I use Wise, Zelle and Bank of America
- It may feel silly at first to include many payment options, but it really does save so much time in the end for you and your clients. If your clients are ever unclear on the best payment option, that’s a great discussion to have upfront and not wait until the payments are late or ignored.
- Automatic reminders after 1 day of late payment (and you can schedule more than one reminder)
Dashboard and Trends?
Thatās another feature youāll be greeted with when you start FreshBooks. You will see how your finances are trending in terms of collections, expenses, late payments, and more.
What about taxes?
I donāt use FreshBooks for this purpose. Though I saw this feature years ago, this part of FreshBooks just didnāt impress me so Iām sticking with TaxAct (my go-to tax software for half a decade)
Howās accounting for your business? Is there anything youāve learned to simplify and make it better? Leave me a comment, Iād love to know.