We've already covered this, but it's hard to move past FreshBooks' lack of bank reconciliation with its cheapest plan. Almost every other accounting software option includes bank reconciliation by default, including Wave Accounting, which is entirely free.
Speaking of typical accounting software features, FreshBooks' lack of double-entry accounting with every plan gives us cause for concern. FreshBooks argues that freelancers don't need to use the more meticulous double-entry bookkeeping system, since it's most useful for businesses with complex finances. But we don't agree—and neither do most providers, like Xero and QuickBooks Online, both of which offer double-entry accounting with every plan.
Honestly, the double-entry system is more accurate regardless of your annual income. Using it can save you loads of stress come tax time and help you avoid costly mistakes. We're glad FreshBooks includes it with its Plus plan, but if you end up using FreshBooks Lite, you'll want to check (and double check) your bookkeeping entries by hand.
And while we like that FreshBooks doesn't limit the number of users you can add, we don't love that each user costs $10 extra. If you only work with a few other people, your pricing won't spiral too far out of hand—but add more than three or four and FreshBooks' cost increases exponentially. In contrast, Zoho Books charges $2.50 per additional user (much more reasonable), while providers like Wave and Xero don't impose user limits at all.