Very functional, good flexibility, some customization. Reason it doesn't get 5 stars is: 1) would like better and easier customization, such as drag-and-drop functionality for moving things, ability to swap terms and conditions in even when using the same template, for example. Or at least ability to edit the HTML, as was provided in past. 2) some functions -- such as setting up alerts -- can be difficult to manage. Again, there's no gradation of control. it's either "on" or "off." I would like to get an alert when a recurring invoice is ready, even if I don't send it automatically, and then be able to approve it quickly.