As a consultant, your focus should be on providing top-notch services to your clients. However, managing your finances and accounting can be a daunting task. This is where the right accounting software can make a world of difference. In this article, we’ll explore the best accounting software for consultants.
Features:
Xero is a cloud-based accounting software that offers a range of features suitable for consultants. It has a user-friendly interface and allows you to manage your cash flow, invoicing, expenses, and payments from anywhere. Some of its key features include:
- Automated bank feeds
- Online invoicing and payment
- Mobile app for on-the-go access
- Expense tracking and management
- Multi-currency support
Price:
Xero offers three pricing plans starting at $11 per month for the Starter plan, $32 per month for the Standard plan, and $62 per month for the Premium plan. All plans include unlimited users, invoices, and bank transactions.
Features:
QuickBooks Online is a popular accounting software that offers a range of features suitable for consultants. It has a user-friendly interface and allows you to manage your cash flow, invoicing, expenses, and payments from anywhere. Some of its key features include:
- Automated bank feeds
- Online invoicing and payment
- Mobile app for on-the-go access
- Expense tracking and management
- Multi-currency support
Price:
QuickBooks Online offers four pricing plans starting at $25 per month for the Simple Start plan, $70 per month for the Plus plan, and $150 per month for the Advanced plan. All plans include unlimited users, invoices, and bank transactions.
Features:
FreshBooks is a cloud-based accounting software that offers a range of features suitable for consultants. It has a user-friendly interface and allows you to manage your cash flow, invoicing, expenses, and payments from anywhere. Some of its key features include:
- Automated bank feeds
- Online invoicing and payment
- Mobile app for on-the-go access
- Expense tracking and management
- Multi-currency support
Price:
FreshBooks offers three pricing plans starting at $15 per month for the Lite plan, $25 per month for the Plus plan, and $50 per month for the Premium plan. All plans include unlimited invoices and estimates, but the number of clients you can bill varies by plan.
Features:
Zoho Books is a cloud-based accounting software that offers a range of features suitable for consultants. It has a user-friendly interface and allows you to manage your cash flow, invoicing, expenses, and payments from anywhere. Some of its key features include:
- Automated bank feeds
- Online invoicing and payment
- Mobile app for on-the-go access
- Expense tracking and management
- Multi-currency support
Price:
Zoho Books offers three pricing plans starting at $9 per month for the Basic plan, $19 per month for the Standard plan, and $29 per month for the Professional plan. All plans include unlimited invoices, estimates, and bank transactions.
Features:
Wave is a free, cloud-based accounting software that offers a range of features suitable for consultants. It has a user-friendly interface and allows you to manage your cash flow, invoicing, expenses, and payments from anywhere. Some of its key features include:
- Automated bank feeds
- Online invoicing and payment
- Mobile app for on-the-go access
- Expense tracking and management
- Multi-currency support
Price:
Wave is free to use, but offers paid add-ons such as payroll and payment processing.
Which accounting software is best for consultants?
There are several accounting software options suitable for consultants such as Xero, QuickBooks Online, FreshBooks, Zoho Books, and Wave. It’s important to consider your specific needs and budget when choosing the best software for you.
Do I need accounting software as a consultant?
While it’s not mandatory, having accounting software can make managing your finances and accounting much easier and efficient as a consultant.
Can I use accounting software for invoicing?
Yes, most accounting software options offer invoicing features that allow you to create and send invoices to clients.
Can I track expenses with accounting software?
Yes, most accounting software options offer expense tracking features that allow you to track and categorize your expenses.
Can I access my accounting software from my phone?
Yes, most accounting software options offer mobile apps that allow you to access your account from anywhere.
Can I use accounting software for tax purposes?
Yes, most accounting software options offer tax reporting features that allow you to generate tax reports and prepare for tax season.
Is accounting software easy to use?
Yes, most accounting software options offer user-friendly interfaces and are designed to be easy to use even for those without accounting experience.
Is accounting software expensive?
It depends on the software and plan you choose. Some options like Wave are free, while others like QuickBooks Online and Xero have monthly subscription fees starting at around $11 per month.
Pros
Using accounting software can make managing your finances and accounting much easier and more efficient.
Tips
- Consider your specific needs and budget when choosing accounting software.
- Take advantage of the free trials offered by most accounting software options to test them out before committing.
- Make use of the invoicing and expense tracking features offered by accounting software to streamline your business operations.
Summary
As a consultant, managing your finances and accounting can be overwhelming. However, using the right accounting software can make a world of difference. Options like Xero, QuickBooks Online, FreshBooks, Zoho Books, and Wave offer a range of features suitable for consultants at different price points. Consider your specific needs and budget when choosing the best software for you, and take advantage of the free trials offered by most options to test them out before committing.