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Best Accounting Software for Consultants

The best accounting software for consultants includes essential features such as project-based invoicing, time tracking, and client management tailored to a consultant’s specific requirements. We evaluated several solutions to help you manage finances and stay on top of invoicing and expenses. Here are our top six accounting software for consultants: : Best overall accounting software…

Written By

Eric Gerard Ruiz, CPA

Oct 1, 2024

10 minute read

The best accounting software for consultants includes essential features such as project-based invoicing, time tracking, and client management tailored to a consultant’s specific requirements. We evaluated several solutions to help you manage finances and stay on top of invoicing and expenses. Here are our top six accounting software for consultants:

Zoho Books: Best overall accounting software for consultants
QuickBooks Online: Best for new consulting businesses
FreshBooks: Best accounting software for independent consultants
Striven: Best ERPEnterprise Resource Planning for consultants
Xero: Best for midsize consulting firms
AccountSight: Best free time tracking software for consultants

Our experts conduct in-depth research to understand the nuances of each accounting software for consultants. We delve into various aspects, such as features, pricing, and strengths and weaknesses. Whenever possible, we sign up for each platform we review so that we can test how they work in real-life scenarios. This allows us to provide you with research-based and genuine recommendations for your accounting needs, aligning with our Fit Small Business Editorial Policy.

Best Accounting Software for Consultants: Quick Comparison
Zoho Books: Best Overall Accounting Software for Consultants
QuickBooks Online: Best for New Consulting Businesses
FreshBooks: Best Accounting Software for Independent Consultants
Striven: Best ERP for Consultants
Xero: Best for Midsize Consulting Companies
AccountSight: Best Free Time Tracking Software for Consultants
Frequently Asked Questions (FAQs)
Bottom Line

Best Accounting Software for Consultants: Quick Comparison

Monthly Pricing	Number of Users	Free Trial
$0 to $275	1 to 15$3 per user, per month	14 days
Visit Zoho Books
$38 to $275	1 to 25	30 days
Visit QuickBooks Online
$23 to $70 or custom	1 to unlimited$11 per user, per month	30 days
Visit FreshBooks
From $35 per user	Unlimited	7 days
Visit Striven
$20 to $80	Unlimited	30 days
Visit Xero
$0 to $10 per user	1 to 100	30 days
Visit AccountSight

Zoho Books: Best Overall Accounting Software for Consultants

Pricing: 4.75 out of 5

General Features: 4.90 out of 5

Consultant-specific Features: 4.70 out of 5

Mobile App: 5.00 out of 5

Ease of Use: 4.40 out of 5

Customer Support: 4.38 out of 5

User Reviews: 4.50 out of 5

Pros

Has an outstanding mobile app
Offers excellent customer support
Is scalable; can add more users for an additional fee
Has workflow automation and client portal access

Cons

Requires higher plans for project accounting features
Can get expensive as you add more users
Requires a Professional plan or higher to manage unpaid bills
Has a small network of bookkeeping support in the US

Zoho Books offers a free plan for businesses that earn less than $50,000 in annual revenue and five paid subscription plan options with project accounting features.

Standard: $20 per month for up to three users and 5,000 invoices
Professional: $50 per month for up to five users and unlimited invoices
Premium: $70 per month for up to 10 users and unlimited invoices
Elite: $150 per month for up to 10 users, unlimited invoices, and advanced inventory
Ultimate: $275 per month for up to 15 users, unlimited invoices, and advanced inventory

Add-ons:

Additional users: $3 per user, per month
Receipt scanning: $10 for 50 scans per month

You can try any of Zoho Books’ plans for free for 14 days.

We selected Zoho Books as our best overall pick for consultants because of its ability to provide workflow automations, document management, and client portal access, which are features that we find useful for consultants. It also has an outstanding mobile app that lets you manage daily accounting tasks from any compatible iOS and Android devices. It even has integration with Apple Watch, making it more accessible for Apple users.

The greatest strength of Zoho Books is its mobile app, and it’s the only provider that aced this criterion. The mobile app has most of the features we want to see, including generating reports and tagging expenses to specific customers or projects. Zoho Books also scored excellently in terms of general accounting and consultant-specific features, and the slight hit is only due to some features requiring third-party integration (e.g., document management and CRM). Hence, we only gave half a point for that.

Additionally, while its customer support is impressive, we docked a few points because of the limited availability of independent bookkeepers. If this matters to you, you might want to consider QuickBooks Online, which has a vast network of QuickBooks ProAdvisors.

Deployment Type	Cloud
Free Trial	14 days for all paid plans
Discount	✕
Customer Support	Phone, live chat, email, and online resources
Average User Review Rating	4.4 out of 5; see what users have said in our Zoho Books review

QuickBooks Online: Best for New Consulting Businesses

Pricing: 4.50 out of 5

General Features: 5.00 out of 5

Consultant-specific Features: 4.10 out of 5

Mobile App: 4.50 out of 5

Ease of Use: 4.40 out of 5

Customer Support: 4.35 out of 5

User Reviews: 4.30 out of 5

Pros

Has a wide selection of accounting and financial reports
Offers scalable plans; priced by number of users and features
Allows you to set up recurring payments
Offers access to local independent QuickBooks ProAdvisors
Lets you track time and expenses and add them to customer invoices

Cons

Can’t compare estimated to actual project costs
Can’t record time worked via mobile app
Doesn’t have industry-specific features
Requires Plus or Advanced plan to track project profitability

QuickBooks Online offers four plans. You must subscribe to Essentials or higher for access to time and expense tracking—and only Plus and Advanced offer the ability to track project profitability.

Simple Start: $35 per month for one user
Essentials: $65 per month for up to three users
PlusOur recommended plan for consultants. : $99 per month for up to five users
AdvancedOur recommended plan for experienced users or those needing more features. : $235 per month for up to 25 users

A 30-day free trial is available. You can also opt to subscribe right away without the free trial to get 50% off for three months.

QuickBooks Online is ideal for new consulting businesses, offering essential features like client retainer management, billable time tracking, and seamless time entry invoicing. Its scalable pricing and extensive network of QuickBooks ProAdvisors provide robust support. And if you’re a new user, you can connect with a ProAdvisor who will help you set up your QuickBooks account.

We recommend the Plus or Advanced tier for consultants, as either enable project management with features like adding expenses, income, and time entries to track profitability by client or project. For enhanced time tracking, including GPS and geofencing, QuickBooks Time can be added.

QuickBooks Online aced our pricing criterion and scored high in most categories of our rubric. The mobile app could have earned a higher mark if it allowed users to enter bills, record bill payments, and record time worked—and Zoho Books is an excellent alternative because its powerful mobile app can do all that.

Meanwhile, in consultant-specific areas, QuickBooks Online took a hit since it lacks a built-in document management system. It also requires integration for a client portal—unlike FreshBooks, which may be the better choice if you’re looking to communicate with clients on a single platform. Also, QuickBooks Online doesn’t allow you to make a direct phone call to a customer support agent unless you upgrade to Advanced.

Deployment Type	Cloud
Free Trial	30 days
Discount	50% for three months
Customer Support	Phone support (callback unless you upgrade to Advanced), live chat, chat, user community, and self-help guides
Average User Review Rating	4.3 out of 5; check out users’ insights in our QuickBooks Online review

FreshBooks: Best Accounting Software for Independent Consultants

Pricing: 3.50 out of 5

General Features: 4.15 out of 5

Consultant-specific Features: 4.45 out of 5

Mobile App: 4.50 out of 5

Ease of Use: 4.60 out of 5

Customer Support: 4.13 out of 5

User Reviews: 4.50 out of 5

Pros

Is affordable for a single user; ideal for independent consultants
Has a built-in time tracker and other project accounting features
Extends excellent customer service
Offers a user-friendly interface
Has a capable mobile app
Lets you add time entries to invoices

Cons

Can’t monitor income or expense by class
Charges for additional users
Can’t track and reconcile bank accounts without bank feeds
Offers limited users and billable clients in Lite and Plus plans

There are four plans, and pricing is based on the number of billable clients. Each tier allows for one user, though you can add more for $11 per user, per month:

Lite: $21.00 per month for up to five billable clients
Plus: $38.00 per month for up to 50 billable clients
Premium: $65.00 per month for unlimited billable clients
Select: Custom pricing for unlimited billable clients and specialized features

FreshBooks offers a 30-day free trial.

FreshBooks includes a single user in its base plan, making it ideal for independent consultants. It has robust project management and time tracking features that let you record time against a specific client or project either from your desktop or mobile device. You can then see weekly and monthly views of daily breakdowns of your tracked worked hours.

Another notable feature is that it allows you to compare estimated and actual project costs, which helps determine whether you are over or under budget, something Zoho Books can do as well. What’s more, FreshBooks allows you to accept online payments, create recurring invoices, calculate late fees automatically, and print a list of outstanding invoices. It is also extremely easy to use, with intuitive navigation and a clean user interface.

Additionally, it provides a client portal that allows consultants to share and request clients’ documents easily. Clients can log in at any time from their device and access and upload documents, reports, and updates related to projects.

FreshBooks did well in general accounting features, but it could have earned more points if it had more streamlined banking features. One issue we found is that all transactions are recorded in the cash account—unless you allow FreshBooks to connect to your bank accounts. You also can’t manually assign transactions to their proper bank account. Additionally, it lost a few points for consultant-specific features as it doesn’t track billing realization.

Moreover, the mobile app could use some additional functionalities, like the ability to enter bill payments and assign expenses to projects. FreshBooks is overall easy to use, but we couldn’t award it full points for customer support because it’s difficult to find a local bookkeeper who is proficient with FreshBooks.

The tool can get expensive with added fees for each additional user and isn’t ideal for established consulting firms that need to track billing realization or manage complex projects. For a more comprehensive solution with a great mobile app, we recommend Zoho Books. However, if bookkeeping support is your priority, QuickBooks Online is a better alternative with its extensive ProAdvisor network, making it easy to find qualified bookkeepers.

Deployment Type	Cloud
Free Trial	30 days for Lite, Plus, and Premium plans
Discount	✕
Customer Support	Phone, chatbot, a self-help library, and a community page
Average User Review Rating	4.5 of 5; check what users have said in our FreshBooks review

Striven: Best ERP for Consultants

Pricing: 3.00 out of 5

General Features: 4.70 out of 5

Consultant-specific Features: 5.00 out of 5

Mobile App: 0.00 out of 5

Ease of Use: 3.80 out of 5

Customer Support: 3.75 out of 5

User Reviews: 4.50 out of 5

Pros

Has industry-specific features
Offers free portals for up to 100 vendors and 100 customers
Can track project budgets and workflows
Provides a customizable dashboard for individual or team views

Cons

Lacks a mobile app
Can be expensive as you add more users
Can be difficult to find customer support
Might have a steep learning curve
Has various limits to certain features (e.g., limits users to 50 categories in the Standard plan).

Standard:
- $60 per user, per month for less than five users
- $35 per user, per month for five or more users
Enterprise:
- $95 per user, per month for less than five users
- $70 per user, per month for five or more users

We recommend Striven for users wanting more than basic to intermediate accounting features. In our expert opinion, we see Striven as an entry-level ERP software for consultants because it offers a comprehensive range of tools beyond standard accounting, including general accounting, project management, inventory, HR, sales project management, CRM, and task automation.

These features allow consultants to manage client relationships, track projects at a granular level, and automate repetitive tasks—all within a single platform, making it a great introduction to ERP for those looking to scale their business operations. However, Striven may have a steep learning curve given that it’s ERP software.

Striven aced our evaluation of consultant-specific features, which we already expected since it’s ERP software. It received high marks in accounting features, losing a few points only because it doesn’t have receipt scanning features.

However, it took a major hit in pricing because it can get expensive as you add more users. Hence, it’s not suitable for businesses on a limited budget. We also couldn’t award a higher mark in ease of use and setup since Striven is not entry-level software, which means it requires an expert or someone with a background in using ERP solutions. It also would be a plus if you have an employee with ERP experience.

Deployment Type	Cloud
Free Trial	7 days
Discount	N/A
Customer Support	Phone support, email support, live chat, user community, self-help guides
Average User Review Rating	4.5 out of 5 based on reviews on G2

Xero: Best for Midsize Consulting Companies

Pricing: 5.00 out of 5

General Features: 4.90 out of 5

Consultant-specific Features: 4.15 out of 5

Mobile App: 4.00 out of 5

Ease of Use: 4.40 out of 5

Customer Support: 2.75 out of 5

User Reviews: 4.40 out of 5

Pros

Provides unlimited users in all plans
Has excellent project accounting
Offers built-in time tracking features
Tracks project profitability
Can manage fixed assets

Cons

Lacks telephone support
Limits users to 20 invoices and five bills in the Early plan
Has no client portal access

Xero is available in three plans, all of which include an unlimited number of users.

Early: $20 per month
Growing: $47 per month
Established: $80 per month

You can sign up for a 30-day free trial for any of the plans, with no credit card required.

Xero is a great choice for midsize consulting firms (i.e., over 25 consultants) because all its subscription options come with unlimited seats. This is significant because—unlike other software that limits users based on the plan—multiple users can access the platform without extra charges. Some competitors start with just one seat and charge for additional users. With multiple seats, consulting partners or directors can directly access real-time financial data for each project or client.

The platform also lets you set up individual projects, assign budgets, and monitor expenses related to each project or client. Additionally, its built-in time tracking feature allows consultants to record billable hours, link them to specific projects or clients, and easily convert them into invoices. Moreover, Xero allows you to connect your bank accounts to the platform so that transactions automatically flow into the system. This helps you save time in reconciling your bank and credit card accounts.

Xero met our expectations in terms of general and consultant-specific features, but it fell a bit short in mobile app, ease of use, and customer support. The app is very limited, as you can use it only for scanning receipts, sending invoices, and categorizing expenses. It may also take time to set up a company and be challenging to seek assistance as Xero doesn’t offer any kind of live chat support—to contact support, you may use a chatbot, browse through self-help guides, or email the team.

Unfortunately, Xero lacks a recurring payment feature, which would benefit consultants with retainer agreements or subscription-based services. If this is important, we recommend QuickBooks Online. For those prioritizing mobile app functionality and support, Zoho Books is a strong option.

Deployment Type	Cloud
Free Trial	30 days
Discount	✕
Customer Support	Email, chatbot, and an online self-help library
Average User Review Rating	4.4 out of 5; check out users’ feedback in our Xero review

AccountSight: Best Free Time Tracking Software for Consultants

Pros

Offers dedicated time tracking and billing for consultants
Has an online time tracker
Provides robust expense tracking tools
Features responsive customer support
Integrates with QuickBooks Online and QuickBooks Desktop
Offers multi-level timesheets

Cons

Lacks employee productivity tools
Limits the number of clients in the free plan
Has limited mobile app functionalities
Doesn’t have a lot of third-party integrations

AccountSight offers a free tier, and its three paid subscriptions allow for unlimited clients, invoicing, and projects, and charge per person, per month. Prices are based on user packs, which give volume discounts based on the number of users required:

Free: $0 for one user, five clients, and five projects
Basic: $10 per user, per month; comes with a 2- to 5-user pack
Small Group: $9 per user, per month; comes with a 6- to 20-user pack
Enterprise: $8 per user, per month; comes with a 21- to 100-user pack

AccountSight is a good pick for its time tracking and billing software. It even earned a spot in our roundup of the best free time tracking software.

It offers various features to help businesses streamline their time and expense management processes. For instance, it provides multi-level timesheets that allow consultants to capture time data based on the level they need (e.g., project level and client or account level). AccountSight can also be used to create and track projects, including costs and profitability.

On the flip side, AccountSight isn’t a complete accounting solution, so you won’t find essential bookkeeping features, like bank reconciliation and income and expense tracking. All the other software programs on this list offer such features.

Deployment Type	Cloud
Free Trial	30 days for all paid plans
Discount	✕
Customer Support	Phone support, live chat, email, and online resources
Average User Review Rating	4.9 out of 5 based on reviews on Capterra

How We Evaluated the Best Accounting Software for Consultants

We evaluated the best accounting software for consultants using the rubric below.

Methodology weights

Pricing 10%

General Features 20%

Consultant-specific Features 35%

Mobile App 10%

Ease of Use 10%

Customer Support 10%

User Reviews 5%

Frequently Asked Questions (FAQs)

The best accounting software for small consulting businesses depends on your business’ needs. For instance, Zoho Books is great for project management and mobile accounting, whereas QuickBooks Online is ideal for growing businesses that often need professional bookkeeping support.

When selecting accounting software for consultants, consider features such as time tracking, invoicing capabilities, expense tracking, project management integration, financial reporting, customer support, and data security.

Yes—as long as the software you select provides time tracking functionality. Some examples include AccountSight, FreshBooks, QuickBooks Online, and Zoho Books.

To choose the right accounting software, consider factors like your business size, your budget, the features you require, ease of use, scalability, customer support, and compatibility with other tools you use. Reading user reviews and seeking recommendations from other consultants can provide valuable insights.

Bottom Line

Zoho Books remains our overall best accounting software for consulting businesses due to its robust general accounting features, affordability, and user-friendly interface. It’s particularly well-suited for consultants looking for a straightforward, reliable solution. To choose the best accounting software for small consulting businesses, consider your operation’s needs.

Eric Gerard Ruiz, CPA

Eric Gerard Ruiz, a licensed CPA in the Philippines, specializes in financial accounting and reporting (IFRS), managerial accounting, and cost accounting. He has tested and review accounting software like QuickBooks and Xero, along with other small business tools. Eric also creates free accounting resources, including manuals, spreadsheet trackers, and templates, to support small business owners.

Best Accounting Software for Consultants

Best Accounting Software for Consultants: Quick Comparison

Zoho Books: Best Overall Accounting Software for Consultants

QuickBooks Online: Best for New Consulting Businesses

FreshBooks: Best Accounting Software for Independent Consultants

Striven: Best ERP for Consultants

Xero: Best for Midsize Consulting Companies

AccountSight: Best Free Time Tracking Software for Consultants

How We Evaluated the Best Accounting Software for Consultants

Frequently Asked Questions (FAQs)

Bottom Line

Eric Gerard Ruiz, CPA

Company

Categories

Best Accounting Software for Consultants

Why You Can Trust Fit Small Business

Best Accounting Software for Consultants: Quick Comparison

Zoho Books: Best Overall Accounting Software for Consultants

QuickBooks Online: Best for New Consulting Businesses

FreshBooks: Best Accounting Software for Independent Consultants

Striven: Best ERP for Consultants

Xero: Best for Midsize Consulting Companies

AccountSight: Best Free Time Tracking Software for Consultants

How We Evaluated the Best Accounting Software for Consultants

Frequently Asked Questions (FAQs)

What is the best accounting software for small consulting businesses?

What are the key features to look for in accounting software for consultants?

Can I use accounting software to track billable hours?

How do I choose the right accounting software for my consulting business?

Bottom Line

Eric Gerard Ruiz, CPA

Company

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