Freshbooks vs. Quickbooks: Evaluating Different Business Services


Hey there I'm Eric Olsen. And I'm heaven days. Join us on our journey to building one hundred million dollars company. Hey, everybody. It's eric. I'm gonna talk about a very exciting subject today, which is accounting software. Okay. It's not that exciting. But have you ever had services where you felt like you didn't need those exact services, or at least as you progress in your journey as an entrepreneur and has growing your business one service had to be replaced with another. Well, that's exactly what happened for us. When it came to accounting software. I started the company using a system called fresh books. Fresh books was really good for me in the beginning. Because I made his super simple to track time. And then that time would automatically be aggregated at the project in client level and invoices would go out to clients automatically have to do anything. Just automatically happen after I tracked my time pretty cool very powerful as well. And a free up a lot of time and I loved fresh books, and I still do. But as we got bigger we had different needs. We really had to bring in QuickBooks at a certain point because we had to do what I would call real accounting and fresh books, and this is not a slam on fresh books. But in fresh books, you don't have quite the death of the understanding at the transactional level when it comes to things like reconcile in your Bank accounts and having a chart of accounts. That's just not the business. They're in. And I'm not slamming them for that. But we needed as so we had to add on QuickBooks. So for a while we had to accounting packages, and we were only doing like two hundred and fifty thousand dollars per year in revenue. It was ridiculous. We did not. Well, we needed to accounting servers or services, but it just seemed absurd. We continue like that for at least a year paying double what we should have every single month for these concerts is. Because we need a certain elements of each as we continue to grow. And as we approach the million dollar, Mark. We decided at some point, you know, what we're gonna rip off the band aid. We're gonna stop using fresh books. We're going to transition one hundred percent over to QuickBooks. And we did that it took us about a month to transition and fresh fresh books was fantastic. Their customer service was amazing. They totally understood it this is part of their strategy to cater to smaller businesses. And when those businesses mature, they help them transition to a better product. They're a great company, and I still recommend to this day. And anyone who's listening looking for some sort of like time billing and invoicing system, I recommend fresh books. It's awesome. But the thing here is we had to transition from one system to another as we grew grew. So as you grow you're gonna find this exact same thing. I would recommend that you stick with what you have as long as you can. Can don't be a rush to switch to a better or premium service? If you don't need it. It's probably not gonna make you more money. It may help you may remove some headaches. But it's a big change any kind of change that you inject in your company, especially if you're employed have to do something different which in this case, they did it's a big thing. And you don't want to do that anymore frequently than you have to so stick with what you can for as long as you can and just kind of push him bandaids on it. And then as some point it becomes obvious style working for you. And you have to transition. Thank you listening. I hope you heard something you can implement in your business right away. Vines online at journey to one hundred million dot com.

Coming up next