Expensify vs Freshbooks

May 28, 2023 | Author: Michael Stromann
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Expensify
Simplified expense reporting your employees will love. Streamline the way your employees report expenses, the way expenses are approved, and the way you export that information to your accounting package.
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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.
Expensify and FreshBooks are both popular cloud-based accounting software solutions, but they serve different purposes within the realm of financial management. Expensify primarily focuses on expense management and tracking, helping businesses streamline the process of capturing and categorizing expenses, generating expense reports, and facilitating reimbursement. It offers features such as receipt scanning, automatic expense categorization, and integrations with various accounting systems. On the other hand, FreshBooks is a comprehensive accounting platform that encompasses invoicing, time tracking, expense management, and financial reporting. It caters to freelancers, small businesses, and self-employed professionals, providing features like customizable invoicing, project tracking, expense tracking, and tax preparation tools. While both platforms have expense management capabilities, Expensify is more specialized in that area, whereas FreshBooks offers a broader range of accounting functionalities. Consider your specific business needs and whether you require a dedicated expense management solution or a more comprehensive accounting platform to make an informed decision between the two.

See also: Top 10 Expense Management software
Expensify vs Freshbooks in our news:

2015. Expensify added new travel site integrations



Expense management service Expensify is taking a further step in simplifying expense reports by announcing integrations with various travel-related services. Instead of forwarding travel receipts to receipts@expensify.com, users now have the option to book their trips through the partner service of their preference. The booking information will automatically be transmitted to Expensify for reporting purposes. This feature not only saves users the hassle of manually compiling expense reports for business trips but also addresses the issue of "leakage," where an increasing number of individuals are booking their travel outside of standard corporate systems. Expensify's initial travel partners include NuTravel, Egencia, Locomote, NexTravel, Uber, Priceline, Hipmunk, and Rocket Trip. The company also plans to incorporate GetThere, Amadeus, Atlas Travel, and Airbnb in the future.


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.


2014. Expense management service Expensify targets Concur customers



Facebook has recently introduced a new advertising platform known as Atlas, which focuses on targeting users across various websites using their Facebook information. Facebook acquired Atlas from Microsoft last year. This platform aims to compete with Google's AdWords by allowing advertisers to display ads that track users on both web and mobile platforms. Advertisers have the flexibility to purchase ads on external websites and apps while also having the option to integrate the Facebook social network. Instead of relying on cookies, Facebook utilizes the user's Facebook login details. Although this approach may not be well-received by Facebook users, it presents an alternative for advertisers and serves as a competitor to Google AdWords.


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: Michael Stromann
Michael is an expert in IT Service Management, IT Security and software development. With his extensive experience as a software developer and active involvement in multiple ERP implementation projects, Michael brings a wealth of practical knowledge to his writings. Having previously worked at SAP, he has honed his expertise and gained a deep understanding of software development and implementation processes. Currently, as a freelance developer, Michael continues to contribute to the IT community by sharing his insights through guest articles published on several IT portals. You can contact Michael by email stromann@liventerprise.com