FreshBooks was founded in 2004 by Mike McDerment, Levi Cooperman, and Joe Sawada in Toronto, Ontario.

[8] All financial data is stored in the cloud on a single unified ledger, allowing users to access the same set of books regardless of location on desktop and mobile.

[9] It offers a free API that enables customers and 3rd-party software vendors to integrate external applications with FreshBooks.

[12] FreshBooks supports country specific tax calculation in Canada, the United States and Britain.

GST and HST in Canada, sales taxes in the United States, and MTD in the UK are supported by FreshBooks.