I’m going to let you into a secret, invoicing has never been my strong point. Before Freshbooks I was working from homemade word document invoices and haphazard spreadsheets, and it’s never quite been perfectly organised!
Today I’m going to share with you five ways I organise my finances with Freshbooks. I’ve been with Freshbooks since I started out as a blogger and it’s helped no end. This post is sponsored by Freshbooks but all opinions are my own and I only promote products I use and believe in.
Some quick Freshbooks FAQ’s:
What is Freshbooks?
Freshbooks is a bookkeeping software that allows you to keep your invoices, expenses and other income (I’ll get onto that later), all in one place. I use it mainly to track my blogging income and expenses but also for my creative arts invoices from the end of the last tax year.
How much does Freshbooks cost monthly?
Freshbooks offer a free trial without needing a credit card for finding out if the platform is best suited for your needs which you can find here. In terms of pricing there are four plans that vary on the number of clients you have. I’m currently utilising the lowest plan Lite, but there are also Plus, Premium and Select. I only invoice for creative arts jobs and background artist work currently, but you can still use Freshbooks if you don’t have clients (I know, it’s a lifesaver).
Before I continue, be sure to grab your free income report tracker here:
Now we’ve gone over the basics, here are my five favourite ways to organise my finances with Freshbooks:
- It allows me to create idiosyncratic invoices for my company:
Freshbooks allows you to create an invoice template with your company logo and company details. I have to invoice for transport and remittances after I’ve been on set but it also comes in handy for keeping blogging invoices in check when I start working with clients.
2. I can create other income records that show my finances that aren’t related to clients directly:
This is my favourite part of Freshbooks! Right now my payments don’t need invoices as I focus on affiliate marketing and advertising, but guess what? Freshbooks other income drop down has a specific category for recording affiliates and ad revenue.
Complete. Game. Changer.
Let me show you:
- Click on the “Invoices” tab
- Select “Other income”
- Select “New income entry”
- Name your income entry e.g “Freshbooks commission”
- Press the dropdown “Choose Income Type” where it will give you options for your income
This has been a game changer for a new blogger like myself, I’m able to keep track of my affiliate income without needing to invoice. Freshbooks solves that.
3. A user friendly dashboard with clear revenue, profit and spending graphs at a glance.
This allows me to check how well my blog is doing from a business perspective. A lot of people advise against viewing your blog as a business from the start but I had a goal. Fresh out of uni I wanted this to work A LOT. Being able to see my expenses and income makes it easier to see how close I am to turning a profit on the blog. You can read my first income report here:
This is how my dashboard currently looks, keep in mind I’ve got payments pending and expenses ✨
4. I can keep track of my finances with flexible dates (for example if I’m being paid in arrears) and taxes:
This is SO USEFUL. Many affiliate programs have either a minimum threshold that you have to earn or have a payout duration. My affiliations with Teachable pay out on the 1st of the next month, so if I was to make a commission on the 1st July I would get paid on the 1st September. By inputing payment dates in the future on Freshbooks, my tax return life I made a WHOLE lot easier. Oh and did I mention you can input included tax percentages so you’re ready to pay your tax money if you earn over the threshold? Yeah a good deal for someone who can’t do maths.
5. I have the ability to keep everything in one place:
Before Freshbooks I have everything scattered. Word documents, excel spreadsheets, old spreadsheets that didn’t work because my luck with excel formulas is the same as everyone’s luck with 2020, old paper remittances, the WORKS. Now with Freshbooks I’ve got everything in one place.
Personally, I wouldn’t be able to keep up with all my finances without the help of Freshbooks but it may not be for everyone. I did the free trial first and then decided to stick with them because I liked the platform as a whole but you’ll get a feel for them through the trial.
You can find out more about Freshbooks free trial (you don’t need a credit card) and pricing here. I have found the platform to be a breath of fresh air (no pun intended), easy to use and perfect for when I start to sell my own products. I love the other income tab as it offers itself to smaller entrepreneurs and bloggers who are focusing more on affiliate marketing and brand sponsorships.
Are you a Freshbooks fanatic like me? Let me know your thoughts on Freshbooks in the comments.