Freshbooks is a really great tool. It is not even close to the the most complex cloud accounting software available. But that is what we like about it. It has functionality without being completely over engineered for what most small businesses need.
If you are anything like us you need book keeping software more than accounting software. At then end of every month you send it to your accountants to calculate the tax and do a P&L and Balance Sheet for you. With Freshbooks you can give your accountant a login so that they can go in and get everything they need. You are also able to export the information in a CSV so that they can import it in to Sage or whatever it is that they are using.
Another thing I really like about Freshbooks is the apps. I have it on my iPhone and it so every time I or someone in my team has an expense they can add it easily. Then I just take a picture of the receipt and instantly it is saved.
On top of that it has all of the features that you would expect. You can email, invoices and quotations. You can save customers to a data base and set up recurring invoices to be sent out every month or week.
If you are in the type of business that needs to record the hours put in for a clint such as web development or freelancing then Freshbooks also has the power to do this. We have not had to use this function before but if it works as easily as everything else then I am sure it will be great.
Over all if you need to keep a track of your customers, sales, and expenses and you want to do it cheaply and easily then this is great.
Also if you click on this link you get 30 days free!