How do I manage my basic and financial information?

The Basic Information and Tax and Financial Information sections (formerly the Business sub-tab) contains important details about your business that is displayed throughout your FreshBooks account, including on your invoices, estimates and proposals. This is also where you can set your preferences for your base currency, date format and standard rate as needed.

Basic Information

To access your Basic Information, use the below steps: 

1. Go directly to Basic Information here, or select the Settings section
2. Under Business Profile, select Basic Information
3. Once you’ve made your updates, select the Save Changes button to finish.

The Basic Information section is explained in detail below:

• Business Name - This is the name of your business, and is displayed on invoices, estimates, proposals and in emails to your clients
• Business and Mobile Phone - Use this to display your phone number(s) as needed
• Address (Line 1 and Line 2) and Country - This is your business’ address and appears on all invoices, estimates and proposals
  • Legal address formats are used if your country is set to Australia, Canada, Germany, Mexico, New Zealand, South Africa, United Kingdom or United States
  • If your business' and your client's addresses are the same country, the country is automatically hidden on that client's invoices, estimates, and proposals
  • If your country is set to Australia, Bahrain, New Zealand, Singapore or South Africa, your Invoice Number will display as Tax Invoice Number on all invoices instead
  • If set to United Kingdom, Estimates will display as Quotes instead
• Business Time Zone - Choose the time zone for your business (individual time entries logged by yourself and your team members are based on the time zone set in each user's Account instead)
• Start Week On - Choose between Sunday or Monday for the start date of all calendars in your account
• Date Format - Choose between dd/mm/yyyy, dd.mm.yy, mm/dd/yyyy, yyyy/mm/dd, yyyy-mm-dd, or mmm d, yyyy for the formatting of your invoices, estimates and proposals dates
• Industry - Choose an industry that your business operates in

 

Changing the country will affect access to region-specific features like Bank Connections, Mileage Tracking, Online Payments, and Receipt Scanning.

 

Tax and Financial Information

To access your Tax and Financial Information, use the below steps: 

1. Go directly to Tax and Financial Information here, or select the Settings section
2. Under Business Profile, select Tax and Financial Information
3. Once you’ve made your updates, select the Save Changes button to finish.

The Tax and Financial section is explained in detail below:

• Base Currency - This is the default currency for your account (you can still change the currency on any client profile, invoice, estimate, or proposal with the steps in How do I change my client's currency and language? here)
• Tax Name and Tax Number - These fields appear depending on the country you've chosen, and you can put in your VAT, ABN or any other tax name and number that you're required to have on all invoices, estimates and proposals
• Fiscal Year End - Choose the Month and Day you want your reports to automatically filter to. If set to anything other than the default of Dec 31, reports will also display additional This/Last Fiscal or Calendar Year/Month/Quarter options as well as your dashboard graphs
• Standard Rate - Specify a rate here to apply to all unbilled time entries if no other billing method is selected