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Wrap up 2024 with organized books
Finish the year strong
Easy expensing
Connect your bank account to automatically upload previous expenses while saving time with AI expense categorization.
Organize your year-end reporting
Wrap up the year with powerful reports that give you a clear view of your finances. Utilize the Accounts Aging report to show you which clients still owe you money, and the Expense report to maximize tax deductions. Then pull up your Profit & Loss report to see the health of your business.
Bill clients fast. Get paid faster.
Online payments allow your customers to pay directly through invoices and automatically record each payment in your account. So you save time, and your customers enjoy more ways to pay (and you can get paid up to 8 days faster).
One platform. Every tool you need.
Keep an Eye on the Big Picture
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Professional Invoicing
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Fast & Easy, for You and Your Clients
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Never Miss an Expense
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Know Your Business Better
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Keep Everyone on the Same Page
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Track Time to the Minute
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Take FreshBooks Anywhere
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Make Taxes Less Taxing With Robust Reporting
Itās never been easier to share reports with your accountant. You can grant them accountant-level access to your account (available on Plus plan or higher) or download reports to send them directly instead.
Profit and Loss Report
With the Profit and Loss report, you can instantly see your revenue, costs, expenses, and profits/losses. This shows how well your company will be able to generate revenues, manage costs, and make a profit.
Expense Report
The Expense report details all of your expenses, including any applicable taxes. Connect your bank account to import expenses automatically.
Accounts Aging Report
The Accounts Aging report will show you which clients have outstanding and overdue invoices ā all in one place for you to review.
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Tips for finishing the year strong
Accountantsā top 3 FreshBooks bank reconciliation questions, answered
How to work effectively with your accountant in FreshBooks
10 advanced invoicing tips to get paid even faster
Award-Winning Customer Service
- Help From Start to Finish: Need help? Reach out to our Support team by phone, email, or chat, and get a real person every time.
- 4.8/5.0 Start Reviews: Yup, thatās our Support team approval rating across 120,000+ reviews
- Global Support: Weāve got over 100 Support staff working across North America and Europe
Help From Start to Finish: Need help? Reach out to our Support team by phone, email, or chat, and get a real person every time.
4.8/5.0 Start Reviews: Yup, thatās our Support team approval rating across 120,000+ reviews
Global Support: Weāve got over 100 Support staff working across North America and Europe
Frequently Asked Questions
As a business owner, you’re able to deduct certain business expenses from your self employment income. This is valuable because business deductions decrease your taxable income, which will reduce your tax liability. Don’t forget to take all of your allowable tax deductions! Your accountant knows your business and can offer tax advice on which deductions you should be able to take.
While it might be too late to make changes to your 2024 taxes by the time you meet with your tax pro, you may still be able to reduce your tax bill. Talk to your accountant about what other options are available to you. One of the most common ways to reduce your tax liability after the tax year is over is to contribute money to a Registered Retirement Savings Plan.Ā
Talk to your accountant to see if this is a strategy you can use and how much you can contribute to your retirement account. There are contribution limits based on your business income and age, but itās a great way to improve your tax return.
Working with an accountant isnāt just about filing federal, provincial, and local taxes. A good accountant can offer tax advice and help you strategically plan for a healthy business in the years to come. Ask your accountant if they offer advisory financial services to help you assess and grow your business.
You may specifically want to ask them about:
Cash flow analysis to help find opportunity areas
If you’ve ever obsessively stared at your bank account balance for minutes on end, you know that cash flow can be one of the most difficult aspects of running a small business. Your accountant can help you analyze your cash flow issues, give you advice on maximizing your tax credits, answer questions, and share advice and improvements so you peel your eyes away from those numbers and focus on growing your business! They can also help you simplify your personal income tax return so you can get the most tax deductions possible.
Financial forecasts and a business budget
Do you know where your business is headed? Your accountant should be able to help you put together financial forecasts for the upcoming year. You may also want to ask them to help you create a budget so you can make informed decisions about where and how to spend your money and invest in your business going forward.
Are you sending enough money to the Canada Revenue Agency (CRA) each quarter for your taxes? Send them too much, and your tax refund money essentially becomes an interest-free loan for the government that year. Send them too little, and you could owe money, plus run the risk of facing an underpayment penalty. Your tax preparer can look at your current and projected taxable income to ensure that youāre sending the IRS the right amount per quarter this year.
Are you looking to try things out and see what FreshBooks has to offer? Sign up for a 30-day free trial here to explore our features.Ā
Do you know what you want and are looking to jump in right away (and with a great discount)? Check out our plan options above to pick the plan that is best for you.Ā
Still unsure and want to chat with someone? Click here to talk to one of our FreshBooks experts, who can help answer all your questions.
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