Cheqbook vs Freshbooks
Cheqbook
Cheqbook is much faster and easier to pick up for business owners while having the pro features that CPAs and bookkeepers need. We have found we can save business owners two weeks a year through our patent pending import and smart categorization. We built Cheqbook out of our own accounting firm here in Hawaii, when we couldn't recommend any of the online solutions.
Freshbooks
Freshbooks first came to market as a popular time tracking and invoicing software. Its added accounting features to pivot to a broader focus on cloud accounting. Because the accounting core was added later, the user interface still focuses on invoicing. Freshbooks is missing critical features for accounting software such as Accrual Accounting, Reconciliation, Journal Entries, and split transactions.
| Cheqbook | Freshbooks | |
|---|---|---|
| AccuScore Smart Categorization | ✓ | |
| Unlimited Simultaneous Users in all plans | ✓ | |
| Is it fully functional accounting software? | ✓ | |
| Accrual Accounting | ✓ | |
| Cash reports | ✓ | ✓ |
| Journal Entries | ✓ | |
| Can Reverse | ✓ | |
| Memos by line item | ✓ | |
| Duplicate | ✓ | |
| Chart of Accounts | ✓ | |
| Add and Edit Chart of Accounts | ✓(only custom items) | limited |
| Assign default tax code | ✓ | |
| Easily access balance and transaction history | ✓ | |
| Reconciliation | ✓ | |
| Find matching transactions | ✓ | |
| Suggest transactions to create | ✓ | |
| Enter transactions from the reconciliation page | ✓(edit only) | ✓ |
| Split transactions (associate more than one account with a transaction) | ✓ | |
| Assign taxes | ✓ | ✓ |
| Enter in payments from customers or payments to vendors | ✓ | |
| Create automation rules | ✓ | |
| Import Contacts | ✓ | ✓ |
| Import Bank Statements (format) | ✓(OFX, QFX, IFX) | ✓(QBO, OFX, CSV) |
| Sync with Bank/Credit Card | ✓ | ✓ |
| Import Items (products / services) | ✓ | |
| Host invoices online for customers to view | ✓ | ✓ |
| Estimates | ✓ | ✓ |
| Drafts | ✓ | ✓ |
| Attach documents to income transactions | ✓ | |
| Attach documents to expense transactions | ✓ | ✓ |
| Attach documents to other types of transactions | ✓ | |
| Can attach multiple documents to a single transaction | ✓ | |
| Basic reports | ✓ | limited |
| Customization of reports | ✓ | |
| Advanced reports | ✓ | limited |
| Batch edit transactions | ✓ | ✓ |
| Customize your email on a per invoice basis | ✓ |
Please contact info@cheqbook.com with corrections.