Best Accounting 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.

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.

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
• Plus : $99 per month for up to five users
• Advanced : $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.

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.

• 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.

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.

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.