Perhaps more than most professionals, consultants know exactly how much their time is worth. That's why so many decide to make the move from doing their own bookkeeping on an Excel spreadsheet, to either outsourcing it entirely or using an accounting platform that streamlines their monthly tasks.
If you're choosing between accounting solutions, here are some of your best options.
Here are the features and functions that are especially important to consultants:
Which accounting solution will work best for your consulting business depends on factors such as the stage of your business, your particular accounting system and needs, and your budget.
Every consultant has their own priorities when it comes to an accounting system. Here are some of the most effective accounting solutions to streamline your business, based on various considerations.
Because Accracy is a full-service solution, offering both software and professional bookkeepers who manage your books for you, it can saves you the most time of all the accounting solutions listed here.
Accracy's bookkeepers do your monthly bookkeeping, and can even complete historical bookkeeping for those business owners who are behind on their books. Unlike some accounting software solutions, Accracy relies on its own proprietary software, rather than services such as QuickBooks.
Pricing
Accracy offers two pricing plans:
1. Essential "“$299 monthly ($249 if billed annually.) Includes:
2. Premium "“$499 monthly ($399 if billed annually.) Includes:
Sole proprietors receive federal and state income tax filings as part of the Premium plan. For S corps, C corps, and partnerships, you can add on personal tax filing for one partner or shareholder for $59 per month when billed annually or $69 per month when billed monthly.
Accracy features include:
Pros
Cons
Best for:
Small businesses that are growing and/or evolving, including partnerships, S corps, and C corps.
With FreshBooks, consultants who are confident in their bookkeeping skills can get easy to use, DIY online accounting software that lets you automate many of your regular accounting tasks. This solution also offers a free 30-day trial.
FreshBooks accounting software for consultants features:
Pricing**:**
FreshBooks offers four pricing tiers:
Lite "“Those professionals with basic needs may find this $15 per month package suitable. It includes:
Plus"“Additional features for $25 per month, such as:
Premium"“ This $50 per month package includes:
Select"“ Businesses with more complex needs may benefit from Select, which offers custom pricing. While this package has specialized features depending on client needs, it includes:
Pros
Cons
Best for:
Small business owners. However, if your business is rapidly expanding, you'll need to choose the Premium or Select options.
No matter the nature or size of your business, you'll need software you feel comfortable using. Frankly, accounting software that's not user-friendly is not worth your time, no matter the price and number of features. There's a reason QuickBooks Online is the most popular DIY accounting software, and much of that has to do with ease of use.
Pricing:
QuickBooks Online, which works on any device, has four plans:
Simple Start— This basic plan is available for $30 per month. Under the plan, only one user is permitted. Features include:
Plus"“QuickBooks Online Plus, at $85 per month, allows up to five users. In addition to those features offered by Simple Start, Plus includes:
Advanced"“At $200 per month, the Advanced plan permits up to 25 members. Additional features include:
Desktop Pro Plus"“ At $349.99 per year, Desktop Pro Plus is an annual subscription providing unlimited support. Installed on one computer, it includes one user with the ability to add up to three users at $200 each annually. It features "œpremium time-saving and money-management features," as well as the ability to organize business finances and track performance to aid in the decision-making process.
Pros
Cons
Best for:
Small businesses and simple business models, including consultants.
Just getting your consulting business off the ground? Consider Xero, an easy-to-use DIY bookkeeping platform.
Pricing
Xero offers three monthly pricing plans:
Early"“$12. Recommended for new businesses, startups, the self-employed, freelancers, and sole traders.
Growing"“$34. The most popular plan, suitable for growing small businesses. Similar to Early but without any limits on invoices, quotes, and bills. Bulk reconciling transactions.
Established"“$65. As its name suggests, designed for established businesses. Additional features include:
If your consulting business has employees, all three plans offer the optional add-on of Payroll With Gusto. This add-on starts at $39 per month plus $6 per month per person.
Pros
Cons
Best for:
The self-employed and consulting businesses.
Sage Intacct, better known as Sage accounting software, specializes in small and medium businesses, with a focus on those in the construction and real estate, healthcare, non-profits, and hospitality industries, as well as CPAs. However, its platform can work well for consultants, too.
Its cloud accounting financial management software offers real-time metrics. Its core financials include:
Sage offers additional modules for total financial management. Streamline key functions of your financial operations and workflow with Sage's advanced functionality. Its project management module helps produce the client's desired results.
Sage Intacct offers custom pricing based on the organization.
Pros
Cons
Best for:
Growing small to mid-size businesses and franchises.
How Accracy can help
The best accounting solution for consultants doesn't rely on purchasing and installing your own software at all. That's where Accracy comes in. Just link your financial accounts and let us do the rest!
We're America's largest professional bookkeeping service for small businesses! We can handle your bookkeeping and tax filing for you while you focus on running your business. Why spend your precious time doing your own bookkeeping, or—perhaps even worse—learning a complex software platform that still has you DIY'ing your numbers?
With Accracy's services, you don't have to worry about record-keeping—our team (plus our intuitive software) manages all of that for you. With quick onboarding and professional support available every step of the way, Accracy can take the bookkeeping load off your shoulders. We can even file your taxes for you!
Learn more about how Accracy works.
Before deciding on the best accounting software for your needs, make sure you have a thorough understanding of exactly what those needs are. Because most accounting software for consultants offers a free trial period, take advantage of that option if you aren't sure which software package is best for you.
We are offering free 1 Month Basic Bookkeeping to all new customers so you can experience Accracy's seemless and professional services.
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