FreshBooks bookkeeping

Setup or tidy-up of your FreshBooks account under your own subscription, bank feed connections, and monthly categorization of every transaction. Every bank and card account is reconciled to its statement, and invoices and payments recorded in FreshBooks are reconciled against the income actually landing in your bank, so revenue in the reports matches what clients have paid, not just what was billed.

Close produces a monthly profit and loss written in plain language, sized for someone without an accounting background to read at a glance. What is not included: audit or attest work of any kind (we produce audit-ready books, an independent licensed firm performs an audit itself), and tax return preparation, which is a separate engagement filed by a credentialed preparer.

We start with access to your FreshBooks account and a short review of how invoicing and expenses are currently set up. If records are behind, we scope a catch-up first so ongoing monthly work starts from a clean, reconciled base.

Each month, bank feed transactions get categorized, accounts get reconciled to statements, and invoices raised through FreshBooks get matched against the actual deposits that hit your bank. Close is finalized on the agreed date and produces a monthly profit and loss plus a short note flagging anything unusual, an invoice paid twice, a retainer that should have been held as a liability rather than booked straight to income.

We can also flag likely quarterly estimated tax payments based on what the books show as the year progresses; the estimated-tax math is informational, and actual preparation and filing stays with a credentialed preparer.

Solo consultants, freelancers and small service businesses whose invoicing already runs through FreshBooks and whose main need is a clean, simple monthly profit and loss without inventory or multi-entity complexity. It also fits a small team using FreshBooks' project and time-tracking features, billing clients directly from tracked hours.

It does not fit a business that has grown into inventory management, payroll integration needs, or multi-currency billing at real volume; FreshBooks was not built for those, and stretching it past that point usually costs more in workarounds than moving to a platform designed for it.

A retainer or deposit collected through FreshBooks and recorded straight to income the day it lands, instead of held as a liability until the related work is actually delivered, which overstates revenue in the month the deposit arrives and understates it later. An invoice marked paid in FreshBooks that never actually cleared the bank because a client's card payment was later reversed or disputed.

We also see personal and business expenses mixed on the same card feeding FreshBooks, which makes the monthly profit and loss misleading until the personal charges are separated out, and quarterly estimated tax payments missed entirely because nobody was tracking profit closely enough during the year to know a payment was due.

We work inside FreshBooks across its published plans, from Lite through Premium and the custom Select tier, using its native bank-feed connections and payment reconciliation for invoices paid by card or bank transfer. Where a business needs deeper payroll integration or estimated-tax tracking, we work with the FreshBooks add-ons available on higher tiers, and flag when a need has outgrown what those add-ons can realistically cover.

For a business planning a move off FreshBooks, we work with QuickBooks Online or Xero on the receiving end, mapping contacts, invoice history and open balances so the switch does not cost historical comparability.

Our bookkeeping fee is separate from your FreshBooks subscription, which FreshBooks bills directly on its own plans, from the Lite tier's limited client count up to Premium and Select's unlimited clients. Our fee depends on transaction and invoice volume, how many billable clients you're actually invoicing each month, and how much cleanup is needed before ongoing work starts. A freelancer on FreshBooks Lite with a handful of clients costs less to maintain than an agency on Premium invoicing dozens of clients with retainer and project billing mixed together. Current ranges for our service are published on the rate card, and your exact fee is confirmed in writing before anything begins.

Every close is reviewed by a senior reviewer on our team before it reaches you. Bank and card reconciliations are checked line by line against the actual statement, and every invoice FreshBooks shows as paid is tied to a real deposit in the bank feed rather than accepted on FreshBooks' own status flag alone, which can lag a reversed or disputed payment.

The single most common gap in a FreshBooks-based business is treating an invoice marked as sent, or even marked as paid, as if it were cash in the bank. Clients pay late. Card payments occasionally reverse. A retainer gets invoiced up front but the work behind it has not started yet. We reconcile what FreshBooks shows against the bank feed every period specifically to catch that gap, and the monthly profit and loss reflects money actually received and liabilities actually owed, not just invoices generated inside the app.