Freshbooks does it again! A few months ago, I wrote about Outright and gave the software solution a thumbs down for a bookkeeping. Many users were drawn to Outright because it automatically connected to the user's bank account and now Freshbooks has added very similar functionality inside the already robust cloud computing solution. If only they were based in the city of brotherly love, Philadelphia instead of Toronto....
This is what Freshbooks says about the new functionality: "Once you have connected your bank accounts, any new expenses will be uploaded daily; sparing you from tedious manual entry. As a small business owner, you know that inputting expenses can take an inordinate amount of time away from a busy schedule. We wanted to make this latest addition to the cloud accounting suite of time-saving capabilities a solution that would free up more of your time from paperwork plus enable you to assess your true spend more easily".
Who can use it?
Going forward, Automatic Expense Import is included with all FreshBooks paid packages, and for a limited time it is also available to existing, free FreshBooks accounts as well. It has already been in use with over 3,000 customers since last October and is now available in North America with support for more than 9,000 US financial institutions and 61 Canadian financial institutions (note: your country must be selected in “Settings.”) If you’re outside of the US or Canada, please tell us what banks you'd like to see supported in your area."
I must say that my accounts are not connected since my company, Newman Networks, supports the small, locally owned and operated credit unions. We are practicing patience so we wait patiently :-)
Thank you FRESHBOOKS!