New & Improved in FreshBooks: Bank Tokenization, Credits, and More

Always improving! These are FreshBooks' latest product updates for June 2020.

product updates june

Summer is officially here – and with it are a handful of updates in FreshBooks. Here’s a look at all the new and improved features that launched in June.

Your Clients Can Now Conveniently Save Their Payment Info

The new Bank Tokenization feature allows your clients to securely save their ACH bank account details when they visit FreshBooks. That way, when they go to pay future invoices their information is ready and waiting. Here’s what this looks like on an invoice:

Bank Tokenization

Track Prepayments and Overpayments with Credits

You can now easily track overpayments, refunds, and discounts, using the new Credits feature. Just create one in your account, and then apply it to an invoice. Plus, keep track of all Credits for specific clients, so you know exactly where you stand financially.

Set Your Fiscal Year End to Any Date

If you’re a business owner who only operates for 4 months of the year in the summer, or has a tax season that starts after January 1st, you may want to change your Fiscal Year End. Now, you can change it to whichever date works best for your business, and your Reports will reflect all your information accordingly.

Billable Amount Added to Time Entry Details

There is a new Amount column added to your Time Entry Details report, which shows you how much your unbilled time is worth. This makes it easier to see exactly how much money you can expect to make from your tracked time.

A New Way to Import Expenses From Your Bank

A new integration with Salt Edge allows you to automatically track and categorize your bank account or credit card transactions as expenses. It’s a new, more secure way to import them that’s PSD2 and Open Banking compliant.

Sign-Up and Sign-In to FreshBooks Using an Apple Account

FreshBooks users can now create a new account, and sign into their account using their AppleID.

Payroll Is Now Available for Canadian FreshBooks Users

Thanks to a new integration with PaymentEvolution, you can now run your team’s payroll in FreshBooks, and automatically import and categorize the transactions as expenses. This will help you track all the costs of running your business in one place.

Your Resource Hub for Tax Time and Beyond

Tax season is here. That’s why we’ve created a tax time hub filled with tips and resources to help your business triumph through tax time and beyond.

FreshBooks Is Here for You

If you need help getting started with any new features, support is just a click away. Feel free to reach out and the team will give you a hand in no time.

Dave Hayes
about the author

Sr. Copywriter, FreshBooks Dave is a Senior Copywriter currently working for FreshBooks, serving all the amazing businesses using the platform. When he’s not writing, Dave can likely be found binging Netflix alongside his dog Indy.