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Working inside FreshBooks: what LedgerBPO does
FreshBooks bookkeeping services from LedgerBPO give service businesses a named accountant who works inside your own FreshBooks account: matching bank imports to invoices and expenses, reconciling every account in the Accounting section, keeping projects and retainers billed on time, and closing each month with a review. You keep the subscription; we keep the ledger tidy and tax-ready.
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Your subscription, your data
FreshBooks bookkeeping services from LedgerBPO give service businesses a named accountant who works inside your own FreshBooks account: matching bank imports to invoices and expenses, reconciling every account in the Accounting section, keeping projects and retainers billed on time, and closing each month with a review. You keep the subscription; we keep the ledger tidy and tax-ready.
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Inside your file
Bank imports matched and every account reconciled in your FreshBooks account
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Reconciled on a calendar
Invoices, retainers and project time billed and collected on schedule
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Reviewed before you see it
Journal entries and the trial balance kept ready for your accountant
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A named accountant, a backup and a team lead
Inside your own software, on a fixed close calendar, with a reply from a person within 1 business day. Call +1-657-777-0006 or start a quote.
Get a custom quote 06 / 06
Why businesses on FreshBooks outsource
FreshBooks is built for the owner who invoices, not the owner who reconciles. The invoicing side stays current because it brings in cash, while the Accounting tab, the bank reconciliation and the journal entries wait until tax season. FreshBooks Payments deposits arrive net of fees, expenses get imported twice, and the balance sheet quietly stops meaning anything.
A dedicated accountant handles the side you did not sign up for, matching every bank line to an invoice payment or expense and reconciling each account monthly. Fees and payouts are recorded correctly, and the chart of accounts and journal entries stay fit for your CPA. You keep invoicing and time tracking exactly as you do now; the books behind them are finally closed.
What we do inside FreshBooks
Bank connections and imports
We keep the bank and card connections live, match imported lines to invoice payments and expenses, and merge duplicates so nothing is expensed twice.
Bank reconciliation in the Accounting section
Every connected account is reconciled to its statement each month in FreshBooks' bank reconciliation, with unmatched items resolved rather than left as uncategorized.
Invoices, retainers and recurring billing
Recurring invoices, retainers and deposits are set up and monitored, late fees and reminders configured, and payments applied so the aging report is accurate.
Projects and time tracking
Time entries and project expenses are reviewed weekly and billed through the project, so unbilled hours are caught before the month ends.
Expenses and receipt capture
Receipts snapped in the FreshBooks mobile app are matched to imported expenses, categorized to the right account and marked billable where a client should pay.
Journal entries, chart of accounts and reports
We maintain the chart of accounts, post month-end journal entries for payroll, depreciation and accruals, and hand your accountant a clean trial balance and general ledger.
Integrations we reconcile
- FreshBooks PaymentsCard and bank deposits net of fees split back into the gross payment and the processing fee.
- StripeStripe deposits reconciled to invoices, with processing fees and refunds posted as they occur.
- PayPalPayPal invoice payments matched and fees recorded so the PayPal balance agrees each month.
- GustoPayroll journals posted to wages, employer taxes and liabilities, then matched to the bank debits.
Migration to and from FreshBooks
Moving to FreshBooks
Moving to FreshBooks from spreadsheets, Wave or QuickBooks Online suits businesses that live by invoices and time. We pick a cut-off date, reconcile the old ledger, import clients, items, open invoices and expenses, load opening balances by journal entry, and connect bank accounts and payment options. The first invoices and bank matches are checked against the old system.
Moving from FreshBooks
Businesses usually leave FreshBooks for QuickBooks Online or Xero when they add inventory, multiple entities or a controller. We reconcile the final month, export the general ledger, trial balance, client list, open invoices and expense history, and map the FreshBooks categories to a full chart of accounts. FreshBooks stays available read-only until the new ledger's first close agrees.
Common FreshBooks reconciliation problems we fix
Payouts recorded as full invoice payments
FreshBooks Payments deposits arrive net of processing fees while the invoice is marked paid in full, so the bank never matches. We record the fee against each payout and reconcile the payment clearing balance monthly.
Expenses imported twice
A receipt snapped in the app and the same line pulled from the bank import both post as expenses. We merge the duplicates and set a routine so the bank line is always the one that survives.
Uncategorized bank lines left for months
Imported transactions with no category sit outside the reports until someone gets to them. We categorize weekly against source documents and reconcile the account so the profit figure is real.
Owner pay and personal spend mixed in
Transfers to the owner get coded as expenses, and personal card spend lands in operating costs. We move them to equity or a loan account and explain the split to your accountant.
Balance sheet built without opening balances
Businesses that started in FreshBooks mid-year often have no opening entry, so the equity and bank balances are wrong from day one. We post the opening journal from a reconciled prior close.
Other general ledger platforms
Frequently asked questions
Do you work inside my existing FreshBooks subscription?
Yes. You invite our accountant through FreshBooks' accountant access, which does not cost you an extra seat, and you keep the subscription, billing and owner role. We match, reconcile and post inside your account daily and you can remove access at any time. No data moves to a system you do not control.
Can you clean up my FreshBooks file?
Yes. A FreshBooks cleanup reviews unmatched bank lines, duplicate expenses, payout fees, unapplied payments, the chart of accounts and any missing opening balances. We fix each item at source, reconcile every account to a statement and hand your accountant a clean trial balance. Our bookkeeping cleanup service covers the scope and the move to monthly bookkeeping.
How much do FreshBooks bookkeeping services cost?
Pricing depends on volume and scope, so we send a custom quote within 1 business day. The drivers are the number of bank and card accounts, monthly transaction and invoice volume, whether you use projects and retainers, and whether you want us to chase overdue invoices under your brand as well.
Is FreshBooks enough for double-entry bookkeeping?
For most service businesses, yes. FreshBooks includes a general ledger, chart of accounts, journal entries, bank reconciliation, trial balance and balance sheet on its Plus and higher plans, which is what a CPA needs at year-end. Businesses with inventory or several entities usually outgrow it, and we say so when that happens.
Can you handle FreshBooks for Canadian and UK businesses?
Yes. FreshBooks is a Canadian company and its Canadian edition tracks GST, HST and PST on invoices and expenses, while the UK edition handles VAT. We reconcile the sales tax accounts each period and prepare GST/HST or VAT workings for your accountant, who files. Local spelling and date formats are used on your reports.
Will you chase my overdue FreshBooks invoices?
Yes, as first-party communications under your brand. FreshBooks automates reminders and late fees, and our DunningDesk process adds calls and emails for the invoices that reminders do not move, with every promise to pay logged. Our accounts receivable service explains the cadence and the reporting you get.
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