Freshbooks vs Paymo

June 20, 2023 | Author: Adam Levine
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Freshbooks
FreshBooks is an online invoicing software as a service for freelancers, small businesses, agencies, and professionals. The product includes a myriad of other related features, such as time tracking, expense tracking, recurring billing, online payment collection, the ability to mail invoices through the U.S. Post, and support tickets.
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Paymo
Easy time tracking and online invoicing tool. Paymo will help you with project management, billing and timesheets online. Online, desktop or mobile time tracking app that will increase billable hours. Easily create invoices and estimates online spend less on administrative tasks.
FreshBooks and Paymo are both cloud-based invoicing and project management platforms, but they differ in their primary focus and feature offerings.

FreshBooks is primarily geared towards small businesses and freelancers, offering robust invoicing and accounting features. It provides tools for creating professional-looking invoices, tracking expenses, managing time and projects, and generating financial reports. FreshBooks has a user-friendly interface, integrations with popular payment gateways, and supports multiple currencies, making it suitable for businesses that require streamlined invoicing and financial management.

Paymo, on the other hand, is a comprehensive project management solution that includes invoicing and time tracking features. It offers project planning and collaboration tools, task management, resource scheduling, and team communication features. Paymo is designed for businesses that require end-to-end project management capabilities along with invoicing and time tracking functionality.

See also: Top 10 Time Trackers
Freshbooks vs Paymo in our news:

2015. Freshbooks allowed to invoice clients faster



FreshBooks, the online accounting software, has introduced three enhancements to streamline your billing process. The addition of a search box at the top of the list allows you to quickly find specific clients by typing their names, ensuring that only relevant results are displayed. Creating a new client directly from the New Invoice screen is now more convenient as the "New Client" field is prominently positioned at the top of your client list, simplifying the process of adding new clients. Additionally, any updates made to a client's contact information, such as their address or phone number, will be instantly reflected on all unsent invoices for that client. Previously sent invoices will retain the original information by default, but you have the option to manually update them if necessary. This improvement eliminates the need for redundant data entry, which is particularly beneficial for efficiency-minded users.


2009. FreshBooks comes to Salesforce AppExchange

FreshBooks, the widely used Web-based invoicing software, has made an exciting announcement regarding its integration with Salesforce.com CRM. This collaboration proves to be a perfect match, particularly for sales-related activities. With the introduction of the FreshBooks Connector for Salesforce, enterprises can seamlessly generate invoices for contacts or opportunities directly within their CRM system. The functionality of converting contacts and opportunities in Salesforce.com into invoices appears to be a straightforward process. Moreover, apart from facilitating the transfer of data between platforms, the Connector establishes a dedicated tab within your CRM, allowing you to track activities related to your 20 most recent invoices. While the app offers a 15-day free trial, subsequent usage comes at a cost of $50 per month per organization.


2009. FreshBooks adds collaboration features

FreshBooks, a software-as-a-service (SaaS) invoice application, is introducing a networking capability to its software, enabling direct collaboration between freelancers and small businesses within the program and facilitating the sharing of information. With the new "Contractor" feature, FreshBooks users can now create and collaborate on client projects across different FreshBooks accounts, allowing multiple users to access various accounts simultaneously. Previously, collaboration on projects across the internet was not possible within FreshBooks. Additionally, the Contractor feature offers real-time project tracking, providing businesses with visibility into a contractor's ongoing progress on a project.


2009. FreshBooks - online billing for small business



There are numerous online billing services available on the Web, each offering their own unique blend of usability and relevance to businesses. However, if you're seeking a straightforward solution that simplifies monitoring your billing cycles, FreshBooks is an excellent starting point. FreshBooks streamlines the management of clients, projects, and, most importantly, invoices. This tool facilitates the generation of recurring invoices and automates the billing process for customers. Furthermore, it is relatively cost-effective, with the option to use basic invoicing for free or pay up to $149 per month to grant additional employees access to the account. In addition to the ability to import from and export to QuickBooks and CSV files, FreshBooks seamlessly integrates with popular payment processing solutions like PayPal. Its intuitive design enables swift completion of invoicing tasks. However, the most valuable feature lies in its tracking capabilities. If you currently employ a rudimentary billing system, you may encounter difficulties in remembering when payments were made or received. FreshBooks eliminates this issue by providing a menu pane that displays outstanding and historical payments, allowing you to stay informed about incoming revenue. Moreover, if you have concerns about the appearance of your invoices, you have the freedom to customize them according to your preferences, including the option to incorporate your company logo.


2008. Online Invoicing Service FreshBooks Takes Industry Benchmarks Public

FreshBooks, an online invoicing and business time management service, is introducing quarterly anonymized benchmarks for various industries such as web development, IT, design, and marketing. The purpose is to provide the public with concrete financial statistics specific to each sector, enabling businesses to set and achieve goals. FreshBooks is leveraging data from its extensive clientele to offer these benchmarks, recognizing that understanding one's performance relative to others is crucial in a competitive industry. While too much data can be overwhelming, FreshBooks' generalized approach benefits both contributors and consumers by providing perspective and insights for company managers. With over 500,000 users, FreshBooks has accumulated substantial data over the past year and a half, allowing them to compile valuable information. While there is a sales pitch involved, the provided benchmarks have significant value, attracting a majority of users who appreciate FreshBooks' transparent approach. Overall, this move by FreshBooks is considered a smart and positive decision, offering concise and helpful benchmarks to assist businesses.


2007. Freshen Up Your Invoicing with Basecamp-Freshbooks Integration

FreshBooks, the online invoicing and time tracking tool, has recently announced its integration with Basecamp, providing a fresh and improved invoicing experience for Basecamp users. With this integration, users can now directly invoice their projects through their FreshBooks account, leading to increased productivity. FreshBooks has carefully selected two workflow scenarios that cater to the needs of 80% of users. The first integration allows users to generate invoices based on time entries or To-Do lists. The second integration enables Basecamp projects to seamlessly transition into FreshBooks projects, with Basecamp's To-Dos becoming tasks in FreshBooks. This integration promises to expedite the invoicing process and streamline invoicing tasks for Basecamp users. Setting up the integration through the user-friendly FreshBooks interface appears to be a straightforward process.


2006. FreshBooks, a refreshingly straightforward invoicing service

FreshBooks is an additional online invoicing service designed for small businesses. Similar to Blinksale and Simplybill, which also offer online invoice preparation, FreshBooks focuses on providing a streamlined utility that specializes in one core business function. However, unlike the other utilities, FreshBooks offers a more robust set of features. It provides additional options for effectively managing clients, projects, and contacts. The product is capable of generating recurring invoices and automating customer billing. Additionally, there are several useful reports available for generating insights. The service also includes a basic time-logging function, which proves valuable for billing services based on time spent. Surprisingly, FreshBooks even incorporates a support ticket module, although its inclusion in an invoicing utility may be debatable. Nevertheless, it can be helpful for tracking support issues that may impact customer payments. While the service offers free usage with no time limit, it does impose a limitation of three client accounts. Paid versions start at $14 per month and provide the ability to bill more clients and allow additional users from your business to work within the system. If you are exploring online invoicing systems, it is highly recommended to give this product a try.

Author: Adam Levine
Adam is an expert in project management, collaboration and productivity technologies, team management, and motivation. With an extensive background working at prestigious companies such as Microsoft and Accenture, Adam's in-depth knowledge and experience in the field make him a sought-after professional. Currently, he has ventured into entrepreneurship, owning a thriving consulting and training agency where he imparts invaluable insights and practical strategies to individuals and organizations, empowering them to achieve their goals and maximize their potential. You can contact Adam via email adam@liventerprise.com