- Greatest total accounting software program for consultants: QuickBooks On-line
- Greatest for solo practitioners: FreshBooks
- Greatest for big consulting companies: Xero
- Greatest software program ecosystem for consulting companies: Zoho Books
- Greatest for consultants with few purchasers: Wave
- Greatest ERP for consultants: NetSuite
One of the best accounting software program for consultants should have options that may assist consultants handle undertaking earnings and prices, observe billable hours and bills and generate helpful studies for efficiency analysis. Since consultants present a service, these are the three main options we search for in accounting software program. Nonetheless, further options, akin to integration choices, cloud accessibility, and shopper administration, are additionally thought-about in the event that they enhance the general expertise of its customers.
High accounting software program for consultants comparability desk
Undertaking accounting and time monitoring options assist consultants observe billable time and expense. With personalized studies, customers can assess undertaking efficiency, price effectivity and earnings alternatives.
Software program | Beginning worth with undertaking & time options if obtainable | Variety of customers | Undertaking accounting | Time monitoring | Custom-made reporting | |
---|---|---|---|---|---|---|
QuickBooks On-line | $90 per 30 days | 1 to 25 | Sure | Sure | Sure | Go to QuickBooks |
FreshBooks | $60 per 30 days | 1 solely | Sure | Sure | Sure | Go to FreshBooks |
Xero | $78 per 30 days | Limitless | Sure | Sure | Sure | Go to Xero |
Zoho Books | $70 per 30 days | 1 to fifteen | Sure | Sure | Sure | Go to Zoho Books |
Wave | Free | Limitless | No | No | Restricted | Go to Wave |
NetSuite | Customized priced | Customized | Sure | Sure | Sure | Go to Netsuite |
QuickBooks On-line: Greatest total accounting software program for consultants
QuickBooks On-line is our greatest small-business accounting software program due to its strong options in each day accounting and reporting. For consultants, one of the best plan is QuickBooks On-line Superior as a result of it’s good for 25 customers and has all of the options QuickBooks On-line affords. Consultants will like class and site monitoring, undertaking monitoring, knowledge sync with Excel for advanced calculations and workflow automation.
Why we selected QuickBooks On-line
We selected QuickBooks On-line as our greatest total choose as a result of it has all of the options consulting companies would want for accounting. It’s versatile, accessible to impartial bookkeepers and ProAdvisors and in style in the US. QuickBooks additionally has plenty of integrations with third-party apps, making it an easy-to-implement software program.
Pricing
- Easy Begin: $30 per 30 days for one accounting person.
- Necessities: $60 per 30 days for 3 accounting customers.
- Plus: $90 per 30 days for 5 accounting customers.
- Superior: $200 per 30 days for 25 accounting customers (really helpful for many consultants).
The Necessities plan and better contains limitless time-tracking-only customers.
Options
- Income recognition: Consultants with purchasers on retainers will like Superior’s income recognition options. Recurring charges from these purchasers will probably be acknowledged as income mechanically and the bookkeeper needn’t modify these each month manually.
- Class and site monitoring: If you wish to observe a selected service line in your consulting enterprise, you need to use courses and places for this one.
- Excel knowledge sync: Superior can ship knowledge to Microsoft Excel seamlessly, so you possibly can carry out superior and sophisticated calculations for knowledge evaluation. And in case your consulting agency makes use of Excel’s Knowledge Evaluation Toolpak, a direct connection from QuickBooks On-line will make it simple so that you can gather knowledge and carry out regression evaluation, create correlation matrices or generate descriptive statistics.
Execs
- Presents you entry to an unlimited community of ProAdvisors.
- Features a built-in time tracker.
- Has a wonderful customized reporting device.
- Consists of limitless time-tracking customers.
Cons
- Has no built-in function for detailed shopper monitoring.
- Requires Superior subscription to maximise all options for a consulting enterprise.
- Has restricted accounting seats — with no possibility so as to add extra seats.
For extra data, learn our QuickBooks On-line assessment.
FreshBooks: Greatest for solo practitioners
FreshBooks is accounting software program designed with self-employed people in thoughts. Self-practicing consultants can use it for invoicing, billing, time monitoring and undertaking administration. Consultants may observe undertaking profitability and create dynamic e-mail templates. The platform even makes it handy for consultants to receives a commission due to the checkout hyperlinks inside buyer invoices.
Why we selected FreshBooks
We selected FreshBooks due to its simplicity and interface. It’s not as intimidating to make use of as the opposite suppliers on this listing, and consultants with out accounting software program expertise can be taught and use FreshBooks simply. It additionally accepts on-line funds, making it simple for purchasers to pay and handy for consultants to gather funds.
Pricing
- Lite: $19 per 30 days for one person solely.
- Plus: $33 per 30 days for one person solely.
- Premium: $60 per 30 days for one person solely (really helpful for consultants).
- Choose: Customized priced.
In the event you want extra seats, you possibly can add $11 per person, per 30 days, to your invoice.
Options
- Undertaking monitoring: FreshBooks’ undertaking monitoring instruments allow you to observe billable time, enter billable bills, handle undertaking prices and examine precise vs. budgeted prices for efficiency analysis.
- Receipt seize: Consultants can seize receipts simply utilizing their smartphones by the cell app. FreshBooks can learn the info mechanically and enter it into the system. This function turns out to be useful for consultants who work on the go.
- Recurring invoices: Recurring charges are frequent within the consulting trade, particularly if the guide is on name. When you’ve got recurring purchasers, FreshBooks’ recurring invoices function sends invoices to those purchasers mechanically. This function might help you save time and concentrate on extra vital duties.
Execs
- Presents professional-looking bill designs and dynamic e-mail templates.
- Has a built-in time tracker for monitoring billable hours.
- Can add an accountant at no further price.
- Is straightforward to make use of.
Cons
- Costs further charges per added person.
- Consists of just one person in all plans.
- Requires financial institution feed connection to make use of banking options.
- Wants staff to be added as further customers to trace time.
For extra data, learn our FreshBooks assessment.
Xero: Greatest for big consulting companies
Xero is likely one of the main accounting software program suppliers and is second to QuickBooks. What makes Xero engaging is its inexpensive pricing, which incorporates limitless customers. Its Established Plan — the very best plan — incorporates all of the options Xero affords however is priced decrease in comparison with QuickBooks On-line’s Superior tier. In Xero, you may also observe time, ship invoices, obtain payments and reconcile financial institution accounts.
Why we selected Xero
In the event you’re a consulting agency that doesn’t need limits on the person rely, Xero is our greatest choose. For under $78 per 30 days, you get all of Xero’s options — plus limitless seats. You may set their limits and allow customers to handle some, or all, of Xero’s capabilities. In the event you’re a consulting agency with greater than 30 customers who want entry to the platform, we advocate Xero for its inexpensive worth and intensive accounting options.
Pricing
- Early: $15 per 30 days for limitless customers.
- Rising: $42 per 30 days for limitless customers.
- Established: $78 per 30 days for limitless customers (really helpful for consultants).
Options
- Undertaking monetary dashboard: Xero’s monetary dashboard supplies a fast overview of undertaking numbers to assist managers and undertaking house owners see real-time data with out producing a report.
- Undertaking monitoring: Monitoring undertaking time and price is straightforward in Xero’s Undertaking Tracker. This module of Xero offers undertaking managers a central hub for managing undertaking prices and progress. Consultants can use this module to trace consulting prices, revenues and different shopper billables.
Execs
- Consists of limitless seats in all plans.
- Has wonderful undertaking accounting options.
- Presents extra inexpensive month-to-month charges than QuickBooks.
- Lets customers observe time utilizing the cell app.
Cons
- Limits the variety of payments and invoices within the Early plan.
- Isn’t as in style as QuickBooks within the U.S.
For extra data, learn our Xero assessment.
Zoho Books: Greatest software program ecosystem for consulting companies
Zoho Books is a rising competitor of QuickBooks within the U.S. It’s also a strong accounting software program with strong options and an excellent cell app. Its versatile paid plans and free possibility make it simple for small consulting companies to develop and scale with it. The software program options buyer portals, superior analytics and superior report customization that aren’t current in QuickBooks.
Why we selected Zoho Books
We selected Zoho Books for consulting companies that may be within the Zoho suite. Although the platform might be bought standalone, getting Zoho One offers customers entry to all of Zoho’s built-in apps, akin to Zoho Expense, Zoho Bill and Zoho Stock. It additionally has productiveness apps, akin to Zoho Author and Zoho Sheets.
Consulting companies can profit from Zoho One since it’s a software program ecosystem. This makes it an all-in-one resolution for productiveness administration, work administration, accounting and finance, doc administration and e-mail internet hosting, to call a number of.
Pricing
- Free: $0 per 30 days for 1 person.
- Commonplace: $20 per 30 days for 3 customers.
- Skilled: $50 per 30 days for five customers.
- Premium: $70 per 30 days for 10 customers (really helpful for consultants).
- Elite: $150 per 30 days for 10 customers.
- Final: $275 per 30 days for 15 customers.
You may add extra seats at $3 per person, per 30 days.
Zoho One’s pricing is as follows — and also you don’t want to purchase all of your staff a license:
- All Worker Pricing: $45 per person, per 30 days.
- Versatile-user Pricing: $105 per person, per 30 days.
Options
- Buyer portal: Consultants can create a portal per shopper and use it as a serious communication channel for all issues associated to present and future tasks. You may ship estimates, quotes, invoices and paperwork within the portal. Shoppers additionally use this portal to replace their private data.
- Undertaking administration: In Zoho Books, the undertaking administration module can observe time, handle a number of tasks, observe undertaking bills and add member roles for collaboration. This function is additional enhanced if the crew makes use of the cell accounting app for time monitoring and receipt seize.
- Reporting and analytics: Consulting companies want customized reporting to trace the efficiency of groups, tasks and prices throughout a number of enterprise areas. With Zoho Books, consultants could make particular studies that can assist with inside decision-making.
Execs
- Has an ecosystem of software program that may improve productiveness.
- Presents versatile plans with a number of tiers.
- Has a free plan appropriate for consultants new to the trade.
- Permits you to add extra customers to every plan for a further price.
Cons
- Isn’t as in style as QuickBooks.
- Doesn’t have an unlimited community of advisors for assisted bookkeeping.
- Lacks undertaking monitoring within the Commonplace plan.
- Permits solely paid customers enter their very own time.
For extra data, learn our Zoho Books assessment.
Wave: Greatest for consultants with few purchasers
Wave Accounting is an easy accounting resolution for consultants who want to trace solely earnings and bills. Its free plan is appropriate for these with few purchasers and tasks that don’t want advanced monitoring, particularly if their engagements are fixed-fee since Wave can’t be used to trace time. Consultants can create invoices, request and settle for funds and seize receipts utilizing the cell app.
Why we selected Wave
Consultants who deal with few purchasers and provide easy consulting companies will profit from Wave due to its easy-to-use interface. It’s perfect for consultants who aren’t able to decide to extra superior software program however nonetheless wish to account for consulting earnings and bills. In the event you invoice most of your purchasers by the hour, we propose contemplating one of many paid choices on this information since Wave doesn’t provide time monitoring.
Pricing
- Starter: $0.
- Professional: $16 per 30 days.
Options
- Skilled and limitless invoicing: Consultants can create personalised invoices simply in Wave, add on-line cost strategies and ship them to purchasers. In the event you get the Professional plan, you take pleasure in discounted charges for on-line funds. Furthermore, consultants with recurring purchasers may arrange recurring invoices in order that they don’t have to fret about invoicing month-to-month.
- Financial institution reconciliations: Wave options an easy-to-understand financial institution reconciliation module. Even consultants with little data of accounting can be taught and perceive the right way to match and reconcile accounts.
Execs
- Is inexpensive for consultants searching for a paid software program resolution.
- Lets you ship limitless invoices even with the free plan.
- Offers entry to Wave Advisors for a further payment.
Cons
- Can’t observe and invoice time.
- Doesn’t have undertaking accounting options.
- Options solely a restricted variety of studies.
For extra data, learn our Wave Accounting assessment.
NetSuite: Greatest ERP for consultants
NetSuite is an enterprise useful resource planning (ERP) software program that options totally different sorts of options for each side of a enterprise. Established consulting corporations can use NetSuite’s superior capabilities to create tailor-made options for his or her consulting companies, purchasers and staff.
Why we selected NetSuite
We picked NetSuite for customers who want a extra highly effective and streamlined resolution. ERP software program might be personalized to the wants of the enterprise — and consulting companies can design a system that matches their workflow and desires with NetSuite. On condition that ERP is advanced, it offers consulting companies a wide selection of instruments in accounting and finance, human sources (HR) and shopper administration, which can assist all departments within the enterprise.
Pricing
Contact NetSuite for a customized quote.
Options
- International enterprise administration: When you’ve got groups overseas, NetSuite is able to managing world operations, dealing with multicurrency transactions, making use of totally different tax guidelines and creating personalized studies per area.
- Planning and budgeting: By NetSuite’s enterprise efficiency administration module, customers can create budgets and forecasts primarily based on precise and projected knowledge. This module is ideal for planning future operations and projecting future efficiency.
Execs
- Comprises totally different sorts of options for accounting, HR, payroll, buyer relationship administration (CRM) and analytics.
- Might be tailor-made to the wants of a consulting firm.
Cons
- Could also be costly given it’s ERP software program.
- Is unsuitable for solo practitioners or small consulting companies.
- Has a steep studying curve.
For extra data, learn our Oracle NetSuite assessment.
How do I select one of the best accounting software program for my consulting enterprise?
- Price: The value of software program performs a serious position in your determination. All of it boils all the way down to your capability to pay and finances, and we advocate that you simply choose the platform that matches your finances however nonetheless satisfies your wants.
- Undertaking accounting: Since consulting might be project-based, one of the best accounting software program for consultants ought to have highly effective undertaking accounting options. It should allow consultants to trace all prices and revenues per undertaking and examine them with undertaking estimates. For a good higher expertise, having a built-in time tracker is useful as a result of it allows consultants to precisely file billable hours.
- Skilled invoicing: Invoicing purchasers is vital to a consulting enterprise. The software program should have strong invoicing options that make the invoicing course of simple, streamlined and handy. It should even have a various set of templates to select from and the flexibility to vary the general bill design.
- Ease of cost: Getting paid is vital, so consultants should select a platform that makes cost simpler for patrons. The answer should have connections to cost channels to allow purchasers to pay in numerous strategies and, finally, assist consultants gather shopper invoices as early as doable.
- Consumer administration: It will be greatest if the accounting platform options shopper portals as a central hub for communication. This portal can be the place the place purchasers can fetch invoices and ship funds to the guide.
Overview methodology
We carried out in-depth analysis about every software program’s options and use instances. Our analysis is centered on the platform’s capabilities in serving to consultants handle their apply and analyze efficiency. For this information, we thought-about the value, function set, accessibility and desires of several types of customers.