Best Accounting Practice Management Software in 2023
Tim is a Certified QuickBooks Time (formerly TSheets) Pro, QuickBooks ProAdvisor, and CPA with 25 years of experience. He brings his expertise to Fit Small Business’s accounting content.
Mark has researched and reviewed accounting software at Fit Small Business since 2019 and has developed an extensive knowledge of accounting software features and how unique business needs determine the best accounting software.
This article is part of a larger series on Accounting Software.
The best accounting practice management software should allow you to track work hours and bill them to clients, assign tasks and projects and monitor their statuses, and create personalized workflows to improve collaboration. Some programs offer specialized features, such as customer relationship management (CRM), document management, and a dedicated mobile app.
Here are our six picks for the best accounting practice management software:
- OfficeTools WorkSpace: Best overall accounting practice management software
- Jetpack Workflow: Best for small accounting firms
- QuickBooks Online Accountant: Best for accounting firms with clients using QuickBooks Online
- QuickBooks Accountant Desktop: Best for accounting firms with clients using QuickBooks Desktop
- Xero Practice Manager: Best for accounting firms with clients using Xero
- TaxWorkFlow: Best for tax firms
Best Accounting Practice Management Software At a Glance
Software | Pricing | Number of Users Included | Accessibility | Time Tracking & Billing | Workflow Management | CRM | Client Portal | Document Management | Project Management | Mobile App | Accounting Software Integration |
|---|---|---|---|---|---|---|---|---|---|---|---|
 | Customized | 1 | Cloud | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
 | From $45 per month | 1 | Cloud | Billing requires integration | ✓ | ✕ | ✓ | ✕ | ✓ | ✕ | ✓ |
 | Free | 1 | Cloud | ✓ | ✓ | ✕ | ✓ | ✕ | ✓ | ✕ | ✓ |
 | Free | 1 | Desktop | ✓ | ✓ | ✕ | ✓ | ✕ | ✓ | Limited | ✓ |
 | Free | Unlimited | Cloud | ✓ | ✓ | ✕ | ✓ | ✕ | ✓ | ✓ | ✓ |
 | Free | Unlimited | Desktop | ✓ | ✓ | ✕ | ✓ | ✓ | ✓ | Limited | ✓ |
Which Accounting Practice Management Software is Right for You?
OfficeTools WorkSpace: Best Overall Accounting Practice Management Software
OfficeTools WorkSpace provides easy-to-use, comprehensive practice management software for certified public accountants (CPAs) and accounting, legal, and tax professionals. Its features include contact management, time and billing, scheduling, due date reporting, project tracking, and document management. It helps consolidate databases, track all necessary data, and streamline workflows. These features streamline redundant data entry and eliminate the need to use separate programs to complete tasks and track projects.
Pros
- Has more features than most competitors
- Integrates with QuickBooks, Lacerte, and Microsoft 365
- Ability to manage everything from a single screen
- Ability to work anywhere with the OfficeTools mobile app
- Includes a client portal with a document management feature
Cons
- No free trial
- Can be expensive for firms with multiple users
- Difficult to master
Features
- Allows you to track time and then create a digital invoice to bill for your services
- Integrates with Abacus Payment Exchange (APX), which allows you to process credit card payments and automated clearing house (ACH) transactions
- Lets you create new projects, assign them to your team members, and view the status, as well as hours incurred to date.
- Enables your clients to view, accept, sign, and automatically add their documents to their files
OfficeTools Workspace Overview
Jetpack Workflow: Best for Small Accounting Firms
Jetpack Workflow isn’t as robust as OfficeTools Workspace, but it offers a decent feature set at a fair price, making it a great option for small accounting firms. It allows you to create and assign tasks to team members, set up recurring jobs across clients, and create personalized workflows quickly for the onboarding of new clients.
Pros
- Unlimited jobs, documents, and clients
- QuickBooks Online, Google Workspace, and Zapier integration
- Transparent pricing structure
- Ability to generate recurring projects
- Integrates with QuickBooks Online, Google Workspace, and over 2,000 apps through Zapier
Cons
- No CRM features
- Inability to update templates for assigned jobs
- No customizable reports
- No mobile app
- Lacks a document management system; can only store documents within a job’s profile
Features
- Allows you to create a new job and assign it to a client and your team members
- Enables you to determine which tasks are due or overdue and which have been completed
- Allows you to set up tasks to occur on a recurring basis, so you won’t have to create separate jobs for projects with the same schedules
- Provides a single platform where you can track each employee’s performance in real-time
Jetpack Workflow Overview
QuickBooks Online Accountant: Best for Accounting Firms That Manage QuickBooks Online Clients
If your client is using QuickBooks Online, which we awarded our best small business accounting software, then you need QuickBooks Online Accountant to access your client’s books. QuickBooks Online Accountant gives you access to the QuickBooks ProAdvisor program, where you’ll be able to support your clients no matter which QuickBooks Online version they are using. Also, it provides free access to QuickBooks Online Advanced, which you can use to manage your firm’s books.
Pros
- Free subscription to QuickBooks Online Advanced
- Simple, easy-to-use visual interface with interactive tutorials
- Portal to your client's QuickBooks Online books
- Seamless integration with Intuit ProConnect Tax
- Lets you track projects across multiple clients
- Free access to the QuickBooks Online ProAdvisor program
Cons
- Incompatible with QuickBooks Desktop
- No due date list
- Doesn’t calculate realization percentage
- When employee time is written off of a job or project
- No CRM and document management features
Features
- Has specialized accountant-only tools that let you reclassify transactions, close books, write off invoices, and review and adjust your client’s books for tax filing
- Lets you create tasks or projects and assign them to your team member
- Allows you to access your own books through the QuickBooks Online mobile app
- Enables you to record your deductible mileage
QuickBooks Online Accountant Overview
Visit QuickBooks Online Accountant
QuickBooks Accountant Desktop: Best for Accounting Firms That Manage QuickBooks Desktop Clients
QuickBooks Accountant Desktop is an on-premise accounting software that provides specialized accounting tools for accounting professionals and firms that manage QuickBooks Desktop Pro and Premier clients. It allows you to complete and manage accounting tasks for multiple companies in one place, with the ability to create invoices, process payroll, and manage projects.
You can import your clients’ QuickBooks Desktop books to find and fix entry errors, among other things. It also allows you to customize each user’s access to the software’s features. This is especially useful if you have employees that are assisting with data entry, but you don’t want them to view or make changes to important financial data.
Pros
- Provides specialized tools for accountants
- Accountant Copy feature allows clients to share prior-year information while continuing their bookkeeping in the current year
- Toggle between QuickBooks Pro, Premier, and any of the five industry-specific editions of Premier
- ProAdvisor Desktop program membership is included with purchase
- Free dedicated tech support
Cons
- No integration with QuickBooks Online
- No real-time update of financial data
- More difficult to access client books than in QuickBooks Online Accountant
- Cannot track realization when employee time is written off
- Can’t access files remotely
Features
- Has specialized tools to help you review and adjust your client’s books, write off invoices, and batch-enter transactions
- Allows you to pay your bills within QuickBooks through Melio
- Includes a mobile app that you can use for tracking expenses
- Allows your clients to create an Accountant’s Copy to share their QuickBooks data
- Enables you to toggle between all the industry-specific editions of Pro and Premier
QuickBooks Accountant Desktop Overview
Visit QuickBooks Accountant Desktop
Xero Practice Manager: Best for Accounting Firms With Clients Using Xero
If you have clients using Xero and need a strong billing system, then you should consider Xero Practice Manager. It helps you efficiently manage client jobs, practice workflows, timesheets, and invoicing and lets you assign work to staff, track and invoice time, integrate with Xero for invoicing and payments, and create customized reports. The platform also generates performance metrics that can provide useful insight into your firm’s profitability.
Pros
- Free for Silver, Gold, and Platinum partners
- Strong time and billing features including a dedicated timesheets section
- Allows you to allocate jobs and tasks with due dates
- Offers a variety of integration options and a dedicated mobile app
- Robust mobile app with many features
Cons
- Expensive for new and Bronze-level partners
- Lack of tools for efficient team collaboration within the software
- No telephone support
- Discount rates have been reduced for new partners
Features
- Gives you access to the Xero Partner Program, where members get benefits that increase with every upgrade in status
- Lets you create and send invoices and collect payments for your customers
- Allows you to streamline compliance processes using templates
- Includes a mobile app that lets you manage your practice’s workflow and track time and job costs on the go
- Create jobs and assign them to team members and track them until they are completed
Xero Practice Manager Overview
TaxWorkFlow: Best for Tax Firms
TaxWorkFlow is the best practice management software for tax firms providing ongoing services such as annual tax returns, monthly bank statement reconciliation, and compilations of financial statements. In addition to standard accounting practice management tools, it has specialized features, such as the ability to set up email marketing campaigns.
What We Like
- Ability to select where to store data (in-house or in the cloud)
- Has CRM features, including the ability to create email marketing campaigns
- Collaboration with clients using an integrated Outlook calendar
- Due date list
- Integrates with several accounting solutions, including QuickBooks
Cons
- No direct access to your client’s books
- No free trial
- No monthly subscription
- No integrated bookkeeping software
- Mobile app can’t be used to send invoices
Features
- Lets you set up firm-specific tasks and assign them to members
- Allows you to track missing tax return information for each client
- Tracks billable time automatically
- Includes a client portal where clients can access, sign, and upload their documents
- Enables you to organize all your documents in the cloud according to customer, category, and other relevant elements
TaxWorkFlow Overview
How We Evaluated Accounting Practice Management Software
We took several factors into consideration during our evaluation of accounting practice management software:
- Cost: For many accounting firms, the cost is the most important factor when determining which accounting practice management software is the best option. We evaluated software that ranged in price from $0 to $1,500 per year.
- Client portal: Many accounting practice management software programs offer a client portal where they can log in with a secure ID and password. It can be used to send announcements, send and receive important documents, and give clients access to their invoices.
- CRM tools: Organizing all of your client information and storing it in one place allows your team to easily access everything they need to get their work done on time.
- Time and billing: Whether your firm bills on retainer or by the hour, it’s important to have the tools in place to gather data and send out invoices for timely processing. A billing process that runs smoothly from beginning to end can assist you with navigating collections efforts or challenges with onboarding new clients. For firms with multiple accountants, tracking realization by job and accountant is very important.
- Reporting: The number and types of reports available are crucial factors to consider when deciding which software is right for you. As you grow, you’ll need insights into your firm’s performance so you can identify inefficiencies that may be affecting firm profitability.
- Workflow management: Without proper task and project management tracking, your software is essentially useless. For example, the ability to attach due dates to projects is critical. We evaluated how easy it was to add work to the software, assign work, and track deadlines.
- Integration: If you’re looking to automate workflows in your firm, you’ll likely have to rely on third-party apps that can integrate within your accounting practice management software. The more integrations available, the more flexibility you’ll have.
- Collaboration: Once the work has been added to the software, we evaluate how easy it is to collaborate with your team and clients. We also looked at what functionality exists to help make it as efficient as possible.
Tip:
If you’re thinking of building a career in bookkeeping, you might want to check out our article on how to start a bookkeeping business.
Frequently Asked Questions (FAQs)
What should I consider when choosing an accounting practice management software?
When choosing an accounting practice management solution, you must look for important features, such as time tracking and billing, project management, document management, CRM, and reporting.
Do I need any special training to use accounting practice management software?
No, as most platforms are designed to be easy to use and don’t require special training. However, for beginners, providers offer free training tools and resources to help you better understand the software.
Are there free accounting practice management software?
Yes, and a good example is QuickBooks Online Accountant, which is designed to be used by accountants with clients using QuickBooks Online.
Bottom Line
The best accounting practice management software depends on your specific needs. We have provided six options—from the best overall to the best for QuickBooks and Xero users and to the best choice for small accounting and tax firms. Once you consider your needs and the type of businesses that you cater to, you’ll be able to select the best fit for your business.
