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Use FreshBooks to Operate a Profitable Business of One

Use FreshBooks to Operate a Profitable Business of One

It takes a lot of work and time to run a business—especially when it's a business of one. A few months back, I formed an LLC to encompass my affiliate income and coaching services. It came time to step up my game.

This blog is now more than just a hobby, it's the home base of a (small, but growing) business I am proud to call my own.

At this stage, my team consists of nothing more than little old me. Despite that, I feel far from alone.

I have my wife, and other family and friends, who are there to cheer me on—but I also have FreshBooks, which now effectively operates much of my business on its own.

FreshBooks is a web-hosted accounting solution that does so much more than crunch numbers (though it definitely does that too). In just two months of using it, I've revolutionized the way I operate my business and get stuff done.

“FreshBooks is sleek, it's powerful—and it might be your new best friend.”

Here's how FreshBooks makes it easy to operate and grow my business as it stands right now:

Tracking Expenses

Whether it's for tax purposes or budgeting, it's important to keep accurate records of each expense.

In the past, I logged these along with personal expenses in Mint, but FreshBooks makes it easy to keep up with expenses that are specific to my business.

I log each expense on the go with the mobile app and use Vezma to track mileage (which syncs with my FreshBooks account).

Sending Estimates

I've done the email back-and-forth haggling before—the process is no fun for anyone involved.

Now I can easily send beautiful estimates with FreshBooks, which turn into invoices when the client hits “Accept”.

I can be detailed or general, and break down projects by hourly rate or set task fees.

Invoicing Clients

With packages, discounts, and a built-in time tracker, I can easily send invoices whenever I need, easily saving me hours each week.

I've integrated my FreshBooks account with PayPal, so clients pay directly from the invoice that they receive.

Want to give this feature a try? You don't even need an account to use the free invoice creator from FreshBooks.

Generating Reports

The more you track data within your FreshBooks account, the more you'll make use of the short- and long-term reports they provide.

With a couple of clicks, I can pull up reports on my income, expenses, and profit & loss.

Come tax season, there's a simple option to share these reports with an accountant of my choice.

FreshBooks is a powerful tool that makes the more tedious aspects of running a business seem intuitive and possibly even fun. It's built with small businesses in mind but offers various levels so the service can grow alongside your business and team.

I'm highly impressed with the service, and what it allows me to do. If you're looking to simplify the process of bringing money into your business of one, try FreshBooks—it may be exactly what you need.

Question: What services would you need to operate a business on your own?