In short, yes. FreshBooks has evolved over the years and now includes many features that were previously only on QuickBooks. In addition to time tracking and then invoicing, you get reporting, expense tracking, and tools for your accountant. Larger businesses may already be using QuickBooks, or may have a specific need that requires QuickBooks. If you are considering QuickBooks, you might want to take a look at FreshBooks as well. There should be some cost savings with the monthly software price.