Comments on: FreshBooks Will be the FreshBooks of Accounting http://www.freshbooks.com/blog/2007/03/01/freshbooks-will-be-the-freshbooks-of-accounting/ A blog about our thoughts on entrepreneurship, teamwork, our services, the Web and anything we find interesting. Sat, 21 Nov 2009 07:27:46 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Chris http://www.freshbooks.com/blog/2007/03/01/freshbooks-will-be-the-freshbooks-of-accounting/comment-page-1/#comment-65517 Chris Mon, 09 Feb 2009 05:03:52 +0000 http://www.freshbooks.com/blog/2007/03/01/freshbooks-will-be-the-freshbooks-of-accounting/#comment-65517 I am a solo web developer, starting to grow my business, and getting frustrated with my Freshbooks/Bootstrap solution. I was absolutely enamored with Freshbook's ease, the ability to accept payment and track time all in one place, the ecosystem of 3rd parties, and the snail mail service. Wow. What an amazing thing for a small time operator like me who has 20 hats to wear and am too cheap/small to hire a bookkeeper. When I started actually using bootstrap and freshbooks together I got frustrated with the need to have two systems in the first place, and then had even more challenges getting the right reporting out of Bootstrap for my overhead. I started to look at other options for GL and AP, and found that a Freshbooks and IAC-EZ combo would work very nicely for my needs. At a cost of $34.98/month. I can get Quickbooks Pro for $79.99 at Costco (with a sweet coupon) so the economics of the SaaS solution is not very strong for me. Normally, the cost of buying boxed software vs hosted should balance out at least after a year, 2.5 months just ain't right. I understand there are more conveniences and benefits that Freshbooks and IAC-EZ can offer me, and as a Mac user it irks me I have to open a VMware session to run my accounting software, but the pricing/performance formula just doesn't make sense for FB+IAC-EZ. I say all that to say this: If I could have one system that did everything, I WOULD pay that much, knowing that my time is worth more than what it would take to fight with quickbooks. But having to learn two systems, getting them to talk to eachother, and paying a premium to do so doesn't pencil out for me. So, please, even though I'm sure there has been many hours of strategy meetings and the consensus keeps coming back to "We need to be really the best in the invoicing arena and leave the rest to our partners" I for one am wishing that you would move to being "The Whole Enchilada". Please, let me know if/when you do. I am a solo web developer, starting to grow my business, and getting frustrated with my Freshbooks/Bootstrap solution. I was absolutely enamored with Freshbook’s ease, the ability to accept payment and track time all in one place, the ecosystem of 3rd parties, and the snail mail service. Wow. What an amazing thing for a small time operator like me who has 20 hats to wear and am too cheap/small to hire a bookkeeper. When I started actually using bootstrap and freshbooks together I got frustrated with the need to have two systems in the first place, and then had even more challenges getting the right reporting out of Bootstrap for my overhead. I started to look at other options for GL and AP, and found that a Freshbooks and IAC-EZ combo would work very nicely for my needs. At a cost of $34.98/month. I can get Quickbooks Pro for $79.99 at Costco (with a sweet coupon) so the economics of the SaaS solution is not very strong for me. Normally, the cost of buying boxed software vs hosted should balance out at least after a year, 2.5 months just ain’t right. I understand there are more conveniences and benefits that Freshbooks and IAC-EZ can offer me, and as a Mac user it irks me I have to open a VMware session to run my accounting software, but the pricing/performance formula just doesn’t make sense for FB+IAC-EZ.

I say all that to say this: If I could have one system that did everything, I WOULD pay that much, knowing that my time is worth more than what it would take to fight with quickbooks. But having to learn two systems, getting them to talk to eachother, and paying a premium to do so doesn’t pencil out for me.

So, please, even though I’m sure there has been many hours of strategy meetings and the consensus keeps coming back to “We need to be really the best in the invoicing arena and leave the rest to our partners” I for one am wishing that you would move to being “The Whole Enchilada”. Please, let me know if/when you do.

]]> By: The Story of FreshBooks http://www.freshbooks.com/blog/2007/03/01/freshbooks-will-be-the-freshbooks-of-accounting/comment-page-1/#comment-46692 The Story of FreshBooks Mon, 24 Mar 2008 13:55:37 +0000 http://www.freshbooks.com/blog/2007/03/01/freshbooks-will-be-the-freshbooks-of-accounting/#comment-46692 [...] time to time to remember why you’ve chosen the road less traveled and to remind yourself that the way you see problems - because it’s a unique perspective - is hugely valuable. Thanks for [...] [...] time to time to remember why you’ve chosen the road less traveled and to remind yourself that the way you see problems – because it’s a unique perspective – is hugely valuable. Thanks for [...]

]]> By: Trust me, I'm a professional http://www.freshbooks.com/blog/2007/03/01/freshbooks-will-be-the-freshbooks-of-accounting/comment-page-1/#comment-45433 Trust me, I'm a professional Mon, 13 Aug 2007 14:44:16 +0000 http://www.freshbooks.com/blog/2007/03/01/freshbooks-will-be-the-freshbooks-of-accounting/#comment-45433 [...] going to gradually get into some simple expense tracking features with FreshBooks, but don’t expect to see us venture into the territory of full-on accounting. Most people don’t need all that [...] [...] going to gradually get into some simple expense tracking features with FreshBooks, but don’t expect to see us venture into the territory of full-on accounting. Most people don’t need all that [...]

]]> By: In Business, Perspective is Everything http://www.freshbooks.com/blog/2007/03/01/freshbooks-will-be-the-freshbooks-of-accounting/comment-page-1/#comment-35359 In Business, Perspective is Everything Mon, 26 Mar 2007 07:10:32 +0000 http://www.freshbooks.com/blog/2007/03/01/freshbooks-will-be-the-freshbooks-of-accounting/#comment-35359 [...] dismissed email hosting. But we just don’t see invoicing as boring. We think invoicing and other unaccounting services are fascinating and we have a long list of ideas that will help us to continue to reinvent and [...] [...] dismissed email hosting. But we just don’t see invoicing as boring. We think invoicing and other unaccounting services are fascinating and we have a long list of ideas that will help us to continue to reinvent and [...]

]]> By: PC World Doesn’t Get It http://www.freshbooks.com/blog/2007/03/01/freshbooks-will-be-the-freshbooks-of-accounting/comment-page-1/#comment-34276 PC World Doesn’t Get It Wed, 21 Mar 2007 14:10:05 +0000 http://www.freshbooks.com/blog/2007/03/01/freshbooks-will-be-the-freshbooks-of-accounting/#comment-34276 [...] took time to explain UnAccounting services and the thousands of businesses we serve love them, but like I said, PC World just doesn’t [...] [...] took time to explain UnAccounting services and the thousands of businesses we serve love them, but like I said, PC World just doesn’t [...]

]]> By: Stacelynn http://www.freshbooks.com/blog/2007/03/01/freshbooks-will-be-the-freshbooks-of-accounting/comment-page-1/#comment-32566 Stacelynn Thu, 08 Mar 2007 00:05:32 +0000 http://www.freshbooks.com/blog/2007/03/01/freshbooks-will-be-the-freshbooks-of-accounting/#comment-32566 As a Mac user who LOVES Freshbooks and detests the options (or lack thereof) available to me for my other accounting needs, I am truly excited about Freshbooks heading in this direction. Bring it on! As a Mac user who LOVES Freshbooks and detests the options (or lack thereof) available to me for my other accounting needs, I am truly excited about Freshbooks heading in this direction. Bring it on!

]]> By: robhyndman.com » Blog Archive » UnAccounting - The Third Way http://www.freshbooks.com/blog/2007/03/01/freshbooks-will-be-the-freshbooks-of-accounting/comment-page-1/#comment-32005 robhyndman.com » Blog Archive » UnAccounting - The Third Way Fri, 02 Mar 2007 19:10:51 +0000 http://www.freshbooks.com/blog/2007/03/01/freshbooks-will-be-the-freshbooks-of-accounting/#comment-32005 [...] mesh partner Mike McDerment has blogged an intriguing post about Freshbook’s plans to introduce more accounting functionality into their service - [...] [...] mesh partner Mike McDerment has blogged an intriguing post about Freshbook’s plans to introduce more accounting functionality into their service – [...]

]]> By: David Terrar http://www.freshbooks.com/blog/2007/03/01/freshbooks-will-be-the-freshbooks-of-accounting/comment-page-1/#comment-31947 David Terrar Fri, 02 Mar 2007 08:15:55 +0000 http://www.freshbooks.com/blog/2007/03/01/freshbooks-will-be-the-freshbooks-of-accounting/#comment-31947 Mike, I run the UK territory for Dutch company Twinfield. We aim to be the best back office accounting solution for SME/SMBs to do the mandatory accounts preparation stuff as efficiently as possible and make it easy for companies to collaborate with their accountant/business advisor. I completely identify with your unaccounting approach to getting the operational things that the business really needs done as quickly as possible. Whether it's QB, Twinfield or anyone else, it should then be our job as accounting solution providers to take those transactions in to the books without any re-keying so we can produce the accounts as painlessly as possible, and provide some useful reporting. The accounts part needs to be done, but we should be hiding us much of the double entry, debit and credit stuff as possible - the more automated data entry from the invoicing application or the bank statement the better. Twinfield has 22,000 subscribers, rising at 10-15% per month. Customers range fro sole trader businesses to 1000 users. I'd love to hook up with your team to explore how we could have a standard link from FreshBooks to Twinfield. Mike,
I run the UK territory for Dutch company Twinfield. We aim to be the best back office accounting solution for SME/SMBs to do the mandatory accounts preparation stuff as efficiently as possible and make it easy for companies to collaborate with their accountant/business advisor. I completely identify with your unaccounting approach to getting the operational things that the business really needs done as quickly as possible. Whether it’s QB, Twinfield or anyone else, it should then be our job as accounting solution providers to take those transactions in to the books without any re-keying so we can produce the accounts as painlessly as possible, and provide some useful reporting. The accounts part needs to be done, but we should be hiding us much of the double entry, debit and credit stuff as possible – the more automated data entry from the invoicing application or the bank statement the better.

Twinfield has 22,000 subscribers, rising at 10-15% per month. Customers range fro sole trader businesses to 1000 users. I’d love to hook up with your team to explore how we could have a standard link from FreshBooks to Twinfield.

]]> By: David http://www.freshbooks.com/blog/2007/03/01/freshbooks-will-be-the-freshbooks-of-accounting/comment-page-1/#comment-31931 David Thu, 01 Mar 2007 22:57:04 +0000 http://www.freshbooks.com/blog/2007/03/01/freshbooks-will-be-the-freshbooks-of-accounting/#comment-31931 We're using MYOB and I've used many other acounting apps in the past. All of them have problems with lack of flexibility and forcing us to do things their way. WE are just now looking at how we move to a simpler for flexible approach to the business accounts. Part of that, is to move to a Payment Basis for accounting. That is accounting for sales when funds are received (not when invoiced). This means that we can move away from onerous double entry ledger type systems (like MYOB) and have our accountant generate financials from banking records that they get automatically through online connectors to our bank accounts. With this in place - we no longer need MYOB but a simple invoicing and Accounts Receivable manager (to make sure we get paid). Freshbooks should do the job. Please make sure though that you have a simple usable API so that we can start to integrate ours and other applications. Basecamp is a great start. Make sure you integrate with Highrise too. I'd love to see for example outstanding accounts balances or unpaid invoices associated with Highrise contacts. Integration is the killer feature for these business management apps. While simple is great - integration saves use time and time is money. p.s any chance of providing postal services outside the U.S? (NZ for example) We’re using MYOB and I’ve used many other acounting apps in the past. All of them have problems with lack of flexibility and forcing us to do things their way.

WE are just now looking at how we move to a simpler for flexible approach to the business accounts. Part of that, is to move to a Payment Basis for accounting. That is accounting for sales when funds are received (not when invoiced). This means that we can move away from onerous double entry ledger type systems (like MYOB) and have our accountant generate financials from banking records that they get automatically through online connectors to our bank accounts.

With this in place – we no longer need MYOB but a simple invoicing and Accounts Receivable manager (to make sure we get paid). Freshbooks should do the job.

Please make sure though that you have a simple usable API so that we can start to integrate ours and other applications.

Basecamp is a great start. Make sure you integrate with Highrise too. I’d love to see for example outstanding accounts balances or unpaid invoices associated with Highrise contacts.

Integration is the killer feature for these business management apps. While simple is great – integration saves use time and time is money.

p.s any chance of providing postal services outside the U.S? (NZ for example)

]]> By: Dear Rabble Rouser « AccMan http://www.freshbooks.com/blog/2007/03/01/freshbooks-will-be-the-freshbooks-of-accounting/comment-page-1/#comment-31930 Dear Rabble Rouser « AccMan Thu, 01 Mar 2007 22:43:14 +0000 http://www.freshbooks.com/blog/2007/03/01/freshbooks-will-be-the-freshbooks-of-accounting/#comment-31930 [...] McDerment CEO of Freshbooks cracks me up. First he sends me an email pointing to his Unaccounting post. I wasn’t that interested. The post is long on tantalising non-promises, short on detail. [...] [...] McDerment CEO of Freshbooks cracks me up. First he sends me an email pointing to his Unaccounting post. I wasn’t that interested. The post is long on tantalising non-promises, short on detail. [...]

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