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Jan 5, 2024

The Best Freshbooks Alternative In 2024

The Best Freshbooks Alternative In 2024

The Best Freshbooks Alternative In 2024

Accounting software automates financial management, streamlining transactions, bookkeeping, and analytical reporting for business efficiency.

Accounting software is the backbone of financial clarity and efficiency in small business management. 

However, FreshBooks, with its robust invoicing capabilities, intuitive time tracking, and user-friendly interface, has long been the go-to solution for many. 

Yet, its higher price point, client billing volume restrictions, and some missing features leave room for alternatives. 

Freshbooks has long considered themselves as the one-stop solution for all business accounting needs, but in reality, the software is only great (and has the features for) if you want to do invoicing, time tracking and payments. In an accounting sense, Freshbooks might not be, at all, the perfect fit.

In this article, we will explore the best alternative for Freshbooks in 2024: designed to cater to those seeking more flexibility and a comprehensive accounting toolkit. Discover the optimal choice that aligns with your business needs, budget, and growth ambitions in this guide to the best FreshBooks alternative.

FreshBooks - A Brief Overview

FreshBooks positions itself as an accounting software, though its strengths lie more significantly in invoicing, time tracking, and payment processing. It's a cloud-based program designed for small to medium-sized businesses, freelancers, and consultants who require efficient billing and project management tools.

Features Of Freshbooks

Here are the features that FreshBooks provides:

  1. Invoicing: Create professional-looking invoices for billing customers for products and services.

  2. Estimates: Send estimates and proposals to potential clients.

  3. Time Tracking: Keep track of the hours spent on a project with a built-in timer.

  4. Expense Tracking: Record business expenses, attach receipts, and bill clients for these expenses if necessary.

  5. Reporting: Generate accounting reports such as profit and loss statements, tax summaries, and expense reports.

Pricing Of Freshbooks

Pros Of Freshbooks

  • User-friendly for invoicing and time tracking.

  • Cloud-based with mobile app support.

  • Active customer support and ongoing improvements to the platform.

  • Well-received original "classic" version.

Cons Of Freshbooks

  • The software's payment processor, WePay, is known for holding funds, and there have been multiple complaints and legal pursuits against it.

  • 3% transaction fees on each transaction.

  • FreshBooks does not offer comprehensive accounting features such as balance sheets and bank reconciliations.

  • The new app revamp has been criticized for poor UI/UX design.

  • Pricing can escalate with an increased number of clients, making it expensive for some users.

In conclusion, while FreshBooks offers solid tools for invoicing and time management, it may not be the best solution for those in need of a complete accounting system. Its shortcomings in handling more complex accounting tasks and the reported technical issues suggest that it might not be suitable for all businesses, especially as they grow and their accounting needs become more sophisticated.

Where Does Freshbooks Lack?

FreshBooks lacks comprehensive accounting features and trends; it cannot perform full balance sheet reports and complex bank reconciliations essential for thorough financial management. 

It's also criticized for an interface that some users find counterintuitive post-update, leading to a clunky user experience. 

Additionally, the mobile app is reportedly buggy across both major platforms. FreshBooks is not optimal for inventory-based businesses, and the transaction fees can be high for those processing a significant number of transactions. 

When you add the 3% transaction fees on each individual transaction, their extended focus on engagement rather than usability, and various issues in the search functionality, there’s a lot to turn a blind eye if you want to keep using Freshbooks.

Furthermore, the reliance on third-party payment processors like WePay has led to issues with holding funds, affecting business cash flow.

The Best Alternative To Freshbooks In 2024 - Fortune App

In the dynamic world of financial management, Fortune App emerges as the top contender for those seeking alternatives to Freshbooks in 2024. It brings a fresh perspective to financial management with its cutting-edge features and user-centric approach, aiming to streamline the accounting process for businesses of all sizes.

Features Of Fortune App

Fortune App is not just another financial management tool; it's a comprehensive solution designed to enhance efficiency and accuracy. Its standout features include:

  • Automatic Transaction Refresh: Transactions across all bank accounts are updated automatically, providing up-to-the-minute financial data.

  • Personal AI Accountant: Harness the power of artificial intelligence to get personalized accounting assistance tailored to your business needs.

  • Expense Categorization: With advanced categorization, tracking expenses becomes simpler and more intuitive, making it easier to manage budgets.

  • Daily Transaction Analysis: Receive daily insights into your financial transactions, helping you stay on top of your spending and earning patterns.

  • Multi-Bank Integration: Connect multiple bank accounts seamlessly, allowing for a unified view of your finances.

  • Real-Time Customer Support: Access immediate assistance with any financial query, ensuring that help is always at hand when you need it.

Pros Of Fortune App

Fortune App outshines its competitors with several key advantages:

  • Streamlined Finances: Manage your finances effortlessly with integrated banking and automated transaction updates.

  • Effortless Transaction Search: Locate any transaction swiftly, enhancing the efficiency of financial audits and inquiries.

  • Security: Top-tier security measures protect your financial data, offering peace of mind and clarity.

  • Informed Decision-Making: Leverage accurate financial insights to make decisions that positively impact your bottom line.

Cons Of Fortune App

Despite its strengths, Fortune App has areas that are still under development:

  • Upcoming Features: Anticipated features such as cash flow forecasting, multi-currency support, integration capabilities, and customizable reporting are yet to be released.

Why Fortune Is Better Than Freshbooks

Fortune App positions itself as a superior choice to Freshbooks for several compelling reasons:

  • Advanced Analytics: Providing deeper insights than Freshbooks, it aids in nuanced decision-making.

  • Global Bank Integration: Fortune's extensive bank connectivity surpasses Freshbooks' limited scope, offering broader accessibility.

  • Cross-Platform Availability: Fortune's support for both iOS and Android platforms allows you to manage your finances anytime, anywhere.

  • Real Ledger Accounting: The planned introduction of real ledger accounting with cash coding promises an upgrade to more sophisticated accounting methods.

  • AI-Driven Automation: With a focus on AI to automate accounting tasks, Fortune App promises efficiency far beyond what Freshbooks offers.

  • User-Centric Evolution: As a new player, Fortune App rapidly evolves based on user feedback, ensuring continuous improvement and satisfaction.

In summary, Fortune App stands out as the best alternative to Freshbooks in 2024, providing innovative features and prioritizing user experience to cater to the evolving needs of modern businesses.

‍Comparison Table Of ZohoBooks and Fortune App


Only Good For Invoicing and Tracking

Freshbooks isn’t dedicated to accounting Per se; Rather, it’s more focused on invoicing and time tracking.

Traditional Accounting Features

In the realm of financial management, Freshbooks offers minimal/standard accounting features.

Limited Bank Interfacing

Freshbooks only interfaces with a few banks in the US.

Charges 3% on Transactions

FreshBooks, primarily an invoicing suite, charges a 3% fee on transactions.

Minimal Financial Overview

Freshbooks has minimal interface for a financial overview.

Basic Search Capabilities

Limited search capabilities in financial transactions.

No Category Breakdown

Freshbooks does not provide a category breakdown on their software.

No Instant Notifications

Does not provide instant account change alerts,


Made For Accounting

Fortune App Is built with accounting needs and pain points of business owners and high-earners in mind.

AI Enhanced Autonomous Accounting

Fortune App uses AI to financially track and forecast expenses.

Limitless Interfacing

Fortune App can interface with more than 17,000 banks across the EU, CA and USA.

No Additiona Charges

With Fortune App, you just pay a monthly subscription fee, and that’s it.

Real-time, In-depth Analytics

Due to AI usage, Fortune App has a detailed dashboard of financial analytics for an in-depth overview.

Detailed Transaction Capabilities

Advanced transaction search capabilities to view in detail.

Enhanced Expense Category Analysis

Fortune App uses AI to breakdown expenses, and categorizes them accordingly.

Proactive Account Notifications

Sends immediate alerts for account changes, a service not available with Freshbooks.

Bottom Line

In conclusion, Fortune App distinguishes itself as a robust alternative to Freshbooks with its comprehensive features, including AI-driven automation and global bank integration—making it the go-to choice for businesses aiming to enhance their financial management with innovative and user-focused solutions in 2023/24.


1. What Is The Alternative To Freshbooks?

Fortune App is the standout alternative to Freshbooks, offering advanced features like AI-driven automation, multi-bank integration, and real-time analytics to streamline business financial management.

2. Can I Use Freshbooks For Free?

No, Freshbooks does not have a free tier; it operates on a subscription model. However, it typically offers a 30-day free trial to test its features before committing to a paid plan.

3. Is Freshbooks good for Freelancers?

Freshbooks stands out as a solid option for freelancers, providing easy-to-use tools for invoicing, time tracking, and managing expenses. These features are designed to simplify freelancers' administrative tasks, enabling them to focus more on their core business activities.

4. Which is Easier To Use, Freshbook or Fortune App?

Fortune App is designed to be more user-friendly with its AI-powered features and comprehensive automation, making it the easier choice for streamlined financial management compared to Freshbooks.

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