FreshBooks 2025 Updates & Key Enhancements

Recent FreshBooks updates focus on improving financial reporting, audit visibility, bank connectivity, and payroll integration, while continuing to strengthen its core strengths in invoicing, time tracking, expense management, and ease of use for small and service-based businesses. These enhancements aim to give users better financial insight without adding complexity. 1. Reporting & Financial Visibility FreshBooks has expanded its reporting capabilities to provide clearer insight into financial performance. Enhanced Financial Reports: Improvements to key reports such as Profit & Loss, Balance Sheet, General Ledger, and Revenue by Client with better filtering and readability. Audit Log Reporting: A centralized audit log tracks changes to financial data, improving transparency and accountability. Improved Data Navigation: Easier drill-down into transactions directly from reports. 2. Banking & Reconciliation Enhancements Updates improve flexibility and control around bank connections and reconciliations. Manual Bank Account Setup: Users can manually create bank accounts in FreshBooks when automated bank feeds are unavailable. Improved Reconciliation Workflow: Simplified matching of transactions to help maintain accurate account balances. Expanded Bank Connectivity: Ongoing improvements to supported banking connections. 3. Payroll Integration FreshBooks continues expanding payroll-related functionality through integrated solutions. Integrated Payroll Add-On: Payroll processing for employees and contractors with automatic posting of payroll entries into FreshBooks. Historical Payroll Support: Ability to record and track past payroll runs for reporting continuity. Simplified Payroll Setup: Streamlined onboarding for small businesses adopting payroll for the first time. 4. Core Accounting & Billing Capabilities Ongoing refinements reinforce FreshBooks’ core value proposition. Invoicing & Recurring Billing: Customizable invoices with automated recurring billing for retainers and subscriptions. Time Tracking Integration: Time entries flow directly into projects and invoices for accurate client billing. Expense Capture & Categorization: Receipt capture and expense tracking tied directly to financial reports. Sales Tax Handling: Support for tracking and reporting sales tax across invoices and expenses. 5. Payments & Cash Flow Tools Enhancements support faster collections and improved cash flow. Online Payment Acceptance: Clients can pay invoices electronically through multiple payment methods. Automated Payment Reminders: Configurable reminders help reduce late payments. Cash Flow Visibility: Clear insight into outstanding invoices and expected receipts. 6. Collaboration & Usability FreshBooks continues to prioritize simplicity and collaboration. Accountant Collaboration: Secure access for accountants and bookkeepers to support shared workflows. Mobile Access: Full-featured mobile apps support invoicing, expense capture, and business oversight from anywhere. User Experience Refinements: Incremental interface improvements focused on speed and ease of navigation.