FreshBooks simplifies accounting for small business owners and freelancers with intuitive invoicing, expense tracking, and time management tools that require no accounting expertise.
Last updated Mar 7, 2026 by AI Enrichment
Leading cloud-based accounting software for small businesses and freelancers
FreshBooks is a cloud-based accounting software platform that provides invoicing, expense tracking, time tracking, and financial reporting tools specifically designed for small business owners, freelancers, and self-employed professionals. Founded in 2003 when CEO Mike McDerment accidentally saved over an invoice he had created in Microsoft Word, the company has grown to serve millions of users worldwide with its user-friendly accounting solution that emphasizes simplicity and automation. While FreshBooks operates in the financial technology and small business software space rather than advertising technology, it has established itself as a leading accounting platform for service-based businesses. The company offers features including automated billing, payment processing, project management, and client collaboration tools. In 2021, FreshBooks was acquired by a consortium led by BDC Capital and JPMorgan Chase, operating as a subsidiary while maintaining its brand and product identity. FreshBooks continues to serve its core market of small businesses and self-employed professionals, competing with platforms like QuickBooks, Xero, and Wave. The company maintains its headquarters in Toronto, Canada, and continues to develop its platform with regular feature updates and integrations with other business tools.
Automated invoice creation, customization, and recurring billing capabilities
Receipt capture, expense categorization, and mileage tracking
Project-based time tracking with billable hours management
Integrated payment acceptance through credit cards and ACH
Financial reports including profit and loss, tax summaries, and expense reports
Project tracking, collaboration tools, and client communication features