FreshBooks
Procurement partnerAbout
FreshBooks is a cloud-based invoice and accounting software platform designed for small service-based businesses, freelancers, and solopreneurs. The platform provides tools for invoicing, expense tracking, time tracking, payroll, online payments, and double-entry accounting reporting. Founded in 2003, FreshBooks has been used by over 30 million business owners across more than 160 countries.
Details
VenSearch Intelligence
Ideal Customer
- FreshBooks is purpose-built for freelancers, self-employed professionals, and very small service-based businesses, with the vast majority of its G2 reviewers (86.7%) coming from the small-business segment.
- Its sweet spot is sole proprietors and small teams of 1–10 employees who need simple invoicing, time tracking, and basic accounting without the complexity of enterprise-grade platforms.
Key Differentiators
- FreshBooks differentiates itself through its exceptionally user-friendly, non-accountant-friendly design—purpose-built for service businesses that need to manage invoicing, time tracking, and cash flow without accounting expertise.
- Its invoicing experience is widely regarded as best-in-class, with automated reminders, payment links, and view tracking, and its mobile app is rated 4.7/5 on the Apple App Store.
Industries Served
- FreshBooks is designed for small service-based businesses across a wide range of industries, with its heaviest adoption in marketing and digital agencies, IT services and tech consultancies, legal and professional services, business consulting, and creative services such as design and photography.
- Additional industries served include construction and trades, education, health and wellness, accounting, financial services, retail, and real estate, among many others.
Service Coverage
- FreshBooks is a global cloud-based accounting platform headquartered in Toronto, Canada, with paying customers in 130–160+ countries and operations spanning North America, Europe, and Australia.
- The platform has served over 30 million users worldwide, with approximately 62% of its customer base located in the United States and 14% in Canada, making North America its dominant market.
Partnerships
- FreshBooks has built an extensive technology partnership ecosystem with over 100 app integrations across 21 categories, including major partnerships with Stripe (powering FreshBooks Payments via Stripe Connect), Gusto (powering integrated U.S. payroll), Affirm (Buy Now, Pay Later), Wagepoint (Canadian payroll), and Kick (automated bookkeeping).
- Additional integrations include Google Workspace, HubSpot, Mailchimp, Zapier, Basecamp, and Salesforce, with Salesforce cited as its largest technology partner.
Company Size & Ownership
- FreshBooks was founded in 2003 by Mike McDerment and Levi Cooperman in Toronto, Canada, and was self-funded for its first decade before raising outside investment.
- The company currently has approximately 386–477 employees and an estimated annual revenue of approximately $78.8 million.
Compliance & Certifications
- FreshBooks completed its SOC 2 Type 1 certification in February 2023, with the audit conducted by A-LIGN, a leading compliance assessor.
- The company also maintains PCI DSS Level 1 compliance and undergoes annual third-party audits to maintain this status; a PCI Attestation of Compliance (AOC) is available upon request.
Compiled from public sources by VenSearch · Last researched October 13, 2026
Offerings
20 offeringsAccounting Reports
FreshBooks provides accounting reporting tools including double-entry accounting, balance sheets, bank reconciliation, project profitability reports, and financial health snapshots. These reports help business owners and accountants monitor and organize business finances.
Bill Pay
FreshBooks offers a Bill Pay feature, listed as new, within its platform under the Manage Finances product category. It is presented as a distinct tool for managing outgoing payments from within FreshBooks.
Bookkeeping
FreshBooks offers bookkeeping functionality as part of its platform, enabling small business owners to manage their day-to-day financial records. It is listed as a distinct feature under the Manage Finances product category.
Buy Now, Pay Later
FreshBooks includes a Buy Now, Pay Later option as part of its payment offerings, giving clients flexible payment options when paying invoices. It is listed as a distinct feature under the Get Paid product category.
Easy Switch
FreshBooks offers an Easy Switch service that helps users transfer their data from another accounting platform to FreshBooks. Users can chat with a specialist to learn about their data migration options.
Estimates
FreshBooks includes an estimating feature that allows small business owners to create and send estimates to clients. This tool is listed as a distinct product feature within the platform.
Expenses and Receipts
FreshBooks enables users to track business expenses through mobile receipt scanning, bank account imports, and automated expense categorization. The feature provides a clear picture of money flowing out of the business.
Financing
FreshBooks offers a Financing feature, listed as new, within its platform under the Manage Finances product category. It is presented as a distinct tool available to small business users within FreshBooks.
FreshBooks AppStore Integrations
FreshBooks provides an AppStore with over 100 app integrations that connect FreshBooks with other tools to help businesses grow and save time. Users and developers can also build custom integrations using the FreshBooks API.
FreshBooks Partner Program
FreshBooks offers a partner program for accounting professionals, including a referral program, affiliate program, and reseller program. Accounting partners can become FreshBooks certified partners with access to exclusive benefits and resources.
Instant Payouts
FreshBooks offers an Instant Payouts feature that allows business owners to access their funds quickly. It is listed as a distinct payment-related product feature within the platform.
Invoices
FreshBooks allows users to create professional invoices in minutes, automatically adding tracked time and expenses, calculating taxes, and customizing payment options. Users can set up recurring invoice templates and send automated invoices to clients.
Mileage Tracking
FreshBooks includes a mileage tracking feature available via the mobile app for both iPhone and Android. It allows small business owners to log business mileage on the go for expense and reporting purposes.
Mobile Apps
FreshBooks provides mobile apps for both iPhone and Android that allow users to manage their business accounting on the go. Features available on mobile include invoicing, expense logging, mileage tracking, and more.
Online Payments
FreshBooks enables businesses to accept secure online payments from clients, including credit cards, bank transfers, and payments over the phone. The Advanced Payments feature also supports recurring billing and checkout links.
Payroll
FreshBooks offers a payroll feature that allows business owners to pay themselves and their team with unlimited payruns, automated tax calculations, and expense recording. Team Member Profiles automatically integrate with payroll to ensure accurate and efficient payment processing.
Projects
FreshBooks provides project management tools that allow business owners and their teams to collaborate, track project profitability, and manage work delivery. Users can monitor time and budgets to ensure projects stay on track.
Proposals
FreshBooks provides a proposals feature enabling users to create and deliver formal business proposals to prospective clients. It is offered as a distinct tool within the platform alongside estimates and invoicing.
Team Management
FreshBooks provides team management functionality that lets business owners add team members with assigned roles and permissions, including Admin, Employee, Contractor, Manager, and Accountant roles. Team Member Profiles integrate with payroll and give visibility into team performance across projects without extra cost for basic profiles.
Time Tracking
FreshBooks includes built-in time tracking that allows users and team members to log billable hours directly within the platform. Tracked time can be automatically added to invoices for accurate client billing.
Considering FreshBooks?
Our team will work with you to determine if FreshBooks is the right fit for your organization. From research and assessment through procurement negotiation and ongoing vendor management — we handle the entire process at no cost to you.