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It supports only transaction and contact management, invoices, and bills at this early stage, and it’s likely to stay small and uncomplicated. We liked it for its simplicity, its usability, and its unusual approach to accounting when so many competitors are going the opposite direction and offering more features and services. Sage 50 Accounting—also sometimes known as Sage accounting or Sage business cloud accounting—is a massive small business accounting application that’s designed for desktop use.

How Much Does Accounting Software Cost?

Most consulting start-ups may not have many client or financial management processes in place, and would benefit from a well-rounded project management platform. This will not only make accounting easier, but also helps with other aspects of the business such as client onboarding, invoicing, payment processing and time tracking. Of course, these extra features will often come at a price, so you must make sure the platform you choose is a smart investment. Mobile apps have become an indispensable tool for consultants, and many leading accounting software providers now offer powerful mobile applications that integrate seamlessly with their web-based counterparts.

Compare NerdWallet’s top accounting software picks by features

This is especially tricky when integrating with other software, so be sure to back up all client data prior to implementation. On the app, you can perform all the same functions as the web-based interface, including bookkeeping for consultants sending invoices, receiving payments, entering bills, uploading receipts, and recording time worked. The app also allows you to assign expenses to customers or projects and time worked to customers or projects.

Empowering all professional services businesses

Once I finalized the invoice, I could click the “send to” button at the top of the invoice and input an email address, a subject and a message to send the invoice. Or, I could click “share via link” to generate an invoice link sendable via text, social media or some other communication channel. The Forbes Advisor https://www.bookstime.com/ Small Business team is committed to bringing you unbiased rankings and information with full editorial independence. We use product data, first-person testing, strategic methodologies and expert insights to inform all of our content to guide you in making the best decisions for your business journey.

You should be able to build your own from scratch as well as edit and save existing templates. To help you narrow down your search, we’ve rounded up the best financial reporting software for businesses of all sizes. Record templates vary in complexity, so you need to understand the differences before you go with one accounting service or another. Some, such as Patriot Software Accounting Premium, simply let you maintain descriptive product records. Others, such as Intuit QuickBooks Online, do more, like asking how many of each product you have in inventory when you create a record and at what point you should be alerted to reorder.

Seamlessly Migrate From Your Current Accounting Software

Users say the software is comprehensive in its accounting features and easy to use. However, they say that solving an issue can be time-consuming and frustrating. Aside from helping you with all things tax and accounting, Bonsai will also streamline your client onboarding paperwork with free templates so you can easily draft professional quotes, proposals and contracts.

How to pick the best accounting software for your consulting business

• You do the same thing for the products and services you buy and sell, so you can add them easily to transactions.
• It also accepts online payments, making it easy for clients to pay and convenient for consultants to collect payments.
• Yes, powerful reporting in QuickBooks Online Advanced allows you to filter reports for a custom view.
• This characteristic makes it more mobile and allows for your accountant to access your data securely or for your team to work on the go.
• If you are looking for an accounting software for your small consulting business that is still fully functional but less overwhelming, check out our runner-up pick, FreshBooks.

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