FreshBooks is a Cloud accounting / invoicing for freelancers and small service businesses by FreshBooks Inc. This profile pulls together FreshBooks's ratings across the major review sites, its company and funding details, leadership, features, pricing, and the latest news, with every external source cited at the bottom.
About FreshBooks Inc.
FreshBooks is cloud-based accounting software designed for freelancers, self-employed professionals, and small service businesses. Founded in 2003 in Toronto by Mike McDerment after he accidentally saved over a client invoice in a Word document, the product initially focused on simple online invoicing before expanding into time tracking, expense management, project collaboration, and full double-entry accounting. FreshBooks was acquired by Rhino Atlantic in 2019 in a deal that valued the company at roughly $400 million and took it off the independent startup track; it now operates as a standalone brand within that portfolio. The platform serves over 30 million users across 160 countries and is consistently rated among the easiest-to-use accounting tools for non-accountants running service businesses.
| Category | Cloud accounting / invoicing for freelancers and small service businesses |
| Company | FreshBooks Inc. |
| Founded | 2003 |
| Headquarters | Toronto, Ontario, Canada |
| Industry | Software Development · Accounting / invoicing software |
| Team size | ~500 |
| Ownership | Private (acquired by Rhino Atlantic / Rhino in 2019) |
| Founder / CEO | Mike McDerment (founder and long-time CEO) |
| Specialties | Cloud accounting, invoicing, time tracking, expense management, project billing, payroll, double-entry accounting |
| Website | freshbooks.com |
Find FreshBooks on: Wikipedia · Crunchbase · LinkedIn · G2 · Capterra · producthunt.com
FreshBooks ratings across the web
Aggregated from the major review platforms. Each links to the source.
Also rated: TrustRadius 8.2/10 (120).
Rating breakdown
Per-category scores from Capterra FreshBooks (~4,400 reviews).
Who uses FreshBooks
FreshBooks reviews from Topickz readers
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What people say about FreshBooks
Our synthesis across ~690 G2 reviews at 4.5/5 and ~4,400 Capterra reviews at 4.5/5, plus TrustRadius and Gartner Peer Insights. No fabricated quotes, this is the consistent pattern across reviews and third-party analyses.
Most praised
- Ease of use is the single most-cited strength: non-accountants say they send their first invoice within minutes and that the interface never feels like accounting software
- Time tracking integration with invoicing is tight; reviewers who bill by the hour consistently call it the best-value feature in the product
- Customer support response quality earns high marks in a category where support is often a pain point; multiple reviewers mention getting issues resolved by phone on first contact
Most cited complaints
- Client caps per plan tier frustrate growing freelancers: the Lite plan is capped at 5 active clients, forcing an upgrade to Plus ($33/mo) even for users who only need one more billing relationship
- Double-entry accounting depth is thinner than QuickBooks or Xero for users who need serious bookkeeping; a professional accountant working in FreshBooks often supplements with other tools
- The Lite plan lacks team features entirely, so any solo practitioner who occasionally brings in a contractor hits a wall without stepping up to a higher tier
What we found testing it
What's great
- Cleanest time-tracking-to-invoice workflow in the comparison; for SaaS companies that bill by the hour or milestone on implementation and consulting contracts, this saves 2-4 hours/week per account manager
- 30-day free trial with no credit card; the most generous trial window in the segment, meaningful for small teams evaluating without a dedicated finance ops person
- G2 at 4.5/5 across 974 reviews is the highest satisfaction score in the sub-$100/mo tier; the consistent praise is around support responsiveness, with median first-response times under 2 hours
Watch-outs
- No deferred revenue support; professional services SaaS companies that sell annual contracts will need a manual workaround or a separate tool for revenue scheduling
- Per-client pricing model on lower tiers (Lite limits you to 5 clients, Plus to 50) is unusual and creates surprise upgrade triggers as the business grows
- Inventory and complex AP are absent; the right tool for consulting-model or services-wrapped SaaS, not pure subscription businesses with any physical component
FreshBooks funding & ownership
| Round | Amount | Date | Lead investor |
|---|---|---|---|
| Series A | $30M | Oct 2014 | OpenView Venture Partners |
| Series B | $25M | Jun 2015 | Georgian Partners |
| Series C | ~$10M (est.) | 2017 | Undisclosed |
| Acquisition | ~$400M (est.) | 2019 | Rhino Atlantic |
Low risk for most users. FreshBooks is a well-funded private company under Rhino Atlantic's ownership with over 30 million registered users and a track record since 2003. Post-acquisition it has continued shipping product updates and has not signaled any direction changes that would threaten continuity. The main watch-item is ownership: as a private company under a financial buyer, an eventual resale or restructuring is possible, though no signals point to that near-term. For freelancers and very small service businesses the platform is stable, but teams that need multi-entity accounting or complex inventory should evaluate whether FreshBooks' intentionally simple scope fits their trajectory.
FreshBooks features & integrations
Security & compliance
| Standard | Availability |
|---|---|
| GDPR | Yes |
| HIPAA | No |
| SOC 2 Type II | Yes (SOC 2 Type II) |
| SSO / SAML | No (not offered on standard plans) |
Integrations: Stripe, PayPal, Gusto, HubSpot, Mailchimp, Shopify, Squarespace, Zapier, Google Workspace, and Zoom.
FreshBooks leadership
FreshBooks pricing
| Plan | Price | Best for |
|---|---|---|
| Lite | $19/mo | Solo freelancers billing up to 5 active clients; invoicing, expense tracking, time tracking |
| Plus | $33/mo | Growing freelancers and small service businesses billing up to 50 clients; adds proposals, recurring billing, double-entry accounting |
| Premium | $55/mo | Small teams with unlimited clients; adds project profitability and customized email signatures |
| Select | Custom pricing | Larger service businesses needing custom contract terms, lower credit card rates, and dedicated account management |
The catch: FreshBooks pricing is straightforward on paper but the client-cap structure catches people. Lite ($19/mo) allows only 5 active clients, Plus ($33/mo) allows 50, Premium ($55/mo) is unlimited. If you bill more than 5 clients regularly, Lite is not a real option regardless of business size. Add-ons for additional team members cost $11/person/mo on top. The 30-day free trial is genuine and requires no credit card. Annual billing saves about 10% across tiers. For a solo service business billing 10-20 clients, Plus at $33/mo is effectively the entry price.
FreshBooks alternatives & where it appears
Featured in our guides
FreshBooks product changelog
What FreshBooks has actually shipped, summarized from its own release notes and dated. Not auto-generated, updated as part of our freshness checks.
- July 15, 2026
Improved bank reconciliation UI
FreshBooks rolled out a redesigned bank reconciliation screen that surfaces unmatched transactions faster and adds bulk-match functionality for accounts with high transaction volume.
Source - May 20, 2026
Mileage tracking enhancements
Auto-mileage detection on iOS and Android now logs trips in the background with improved GPS accuracy and lets users categorize trips immediately on lock-screen notification.
Source - March 10, 2026
Retainer invoicing templates
Pre-built retainer invoice templates with automatic monthly recurrence and client approval confirmation added for consultants and agency owners billing on retainer.
Source
Latest FreshBooks news
Auto-pulled from Google News, refreshed on each deploy. Headlines link to the source.
- FreshBooks vs. QuickBooks Comparison - NerdWalletFri, 17 Apr 2026
- FreshBooks vs QuickBooks Comparison for 2026 - Business.comThu, 16 Jul 2026
- FreshBooks Review: Attractive, Capable, and Still the Best for Service-Based SMBs - PCMagFri, 07 Nov 2025
- FreshBooks Review 2026: Features, Pros And Cons - ForbesMon, 05 Jan 2026
- FreshBooks vs. Wave Accounting Comparison - NerdWalletFri, 24 Apr 2026
- Quicken Business and Personal vs. FreshBooks - CBS NewsFri, 26 Dec 2025
FreshBooks FAQs
Is FreshBooks right for freelancers?
Yes, FreshBooks is built almost entirely around solo practitioners and small service businesses. The invoicing flow, time tracking, and project billing are tighter than any general-purpose accounting tool. The main friction is the 5-client cap on the Lite plan; if you regularly bill more than 5 clients you will need Plus ($33/mo) or higher. For freelancers who also need inventory, manufacturing, or payroll beyond US and Canada, look at QuickBooks or Xero instead.
How much does FreshBooks cost?
Paid plans run from $19/mo (Lite, 5 clients) to $55/mo (Premium, unlimited clients). Each additional team member added to any plan costs $11/mo. A 30-day free trial is available with no credit card required. Annual billing reduces the monthly equivalent by roughly 10%. Always check the live pricing page, as FreshBooks has adjusted tiers several times.
Who owns FreshBooks?
FreshBooks was acquired in 2019 by Rhino Atlantic (sometimes referred to as Rhino), a private equity-backed holding company. Before the acquisition it was a venture-backed independent startup founded by Mike McDerment in Toronto in 2003. It operates as a standalone brand post-acquisition.
Does FreshBooks do double-entry accounting?
Yes, FreshBooks added double-entry accounting in 2019 on its Plus and Premium plans. It produces a balance sheet, profit and loss statement, and trial balance. That said, professional bookkeepers working in complex multi-entity structures often find it thinner than QuickBooks Online or Xero, and accounts with heavy inventory or manufacturing complexity are better served by those tools.
What integrations does FreshBooks support?
FreshBooks integrates directly with Stripe, PayPal, Gusto (payroll), HubSpot, Mailchimp, Shopify, and Squarespace, among others. Zapier connects it to hundreds of additional apps. A direct QuickBooks import exists for teams migrating in. The integrations library is narrower than QuickBooks Online's but covers the services most small service businesses actually use.
Sources
Every external figure on this page traces to a public source, last collected on the dates shown.
- G2: FreshBooks reviews — rating 4.5/5, ~690 reviews (accessed 2026-08-30)
- Capterra: FreshBooks — rating 4.5/5, ~4,400 reviews, sub-scores and demographics (accessed 2026-08-30)
- TrustRadius: FreshBooks — score 8.2/10, ~120 reviews (accessed 2026-08-30)
- Gartner Peer Insights: FreshBooks — rating 4.3/5, ~45 ratings (accessed 2026-08-30)
- FreshBooks pricing page — Lite $19/mo, Plus $33/mo, Premium $55/mo, additional user $11/mo (accessed 2026-08-30)
- Crunchbase: FreshBooks — funding rounds, acquisition by Rhino Atlantic 2019 (accessed 2026-08-30)
- Wikipedia: FreshBooks — founding, history, acquisition, products (accessed 2026-08-30)
- LinkedIn: FreshBooks company page — employee count ~500, HQ Toronto, industry (accessed 2026-08-30)