Accounting software for small consulting business

There are two major choices you have with regards to accounting software: Quickbooks Online or Xero. Which one should you choose? This article outlines the differences between the two and which one is better for your small consulting business.

Do you think setting up your accounting software is a daunting task? Well, you’re right about that. There are vast numbers of accounting software out there. And this means, as consultants, we’ve got a lot more at our disposal — which directly translates to much more confusion.

We have designed an accounting software for small consulting businesses that is intuitive, easy to use and cost effective.

Our software will help you keep track of your cash flow and make it easier to manage your finances. You can also use the software to organize client information and create invoices. The program works on any device including computers and smartphones so no matter where you are you can always access your information.

Our accounting software is compatible with all versions of Windows and Mac OS X as well as Linux operating systems. It’s also available in multiple languages including English, French, Spanish, German, Russian, Portuguese, Italian and Dutch!

How to Keep Your Small Consulting Business on Track with Accounting Software

With the help of accounting software, you can keep your small consulting business on track without having to sacrifice the personal touch that makes it unique. You can use accounting software to manage your finances, ensure compliance with the law, and keep track of your employees’ time.

Accounting is a critical part of running any business, but for a small consulting company like yours, it’s especially important to have an accurate record of how your business is doing financially. With accounting software, you can easily track all of your spending and income so that you know exactly where your money is going—and where it needs to go next.

Accounting software also helps small consulting businesses stay compliant with both federal laws and internal policies. Since most small consulting companies are small enough that they don’t have dedicated departments for handling legal compliance issues, accounting software provides this functionality right out-of-the-box.

Finally, accounting systems can help keep track of employee hours spent on different projects or tasks so that you don’t end up paying them too much or too little for their work.

Accounting software for small consulting business

If you’re like most independent professionals and consultants, doing your accounting and preparing for tax time is about as exciting as watching grass grow.

Which means you’d rather be doing almost anything else because not only is it time consuming it’s also tedious.

In the Momentum program I share my approach to managing all of this and stress the importance of working with an accountant.

Yet even with an accountant, you still need to have a strong grasp of your own financials throughout the year…rather than waiting until the year has ended and trying to play catch up.

Luckily there are several software programs that make this process more pleasant. Including some that practically automate it for you.

Xero

Xerox

Xero offers accounting in the cloud so you can access all of your financial information from anywhere. They also provide a mobile app and loads of features. Pricing starts at $19/mo

FreshBooks

FreshBooks

FreshBooks made it’s name as an online invoicing tool. Since its start it’s made its system more robust so that it can practically function as your total accounting solution. It’s also cloud based, offers a small free package and paid plans start from $20/mo

Wave Accounting

Wave Accounting

Wave is still fairly new on the scene. What’s interesting about their solution is that you can connect all of your bank and credit cards to your Wave account and it will automatically pull your data in. Say goodbye to that time consuming data entry. Wave is Free. That’s right, there’s no cost for the service – they do have Payroll options you pay for as well as some ads that show up when you login in.

Mint

Mint

Mint which was acquired by Intuit offers a free personal finance tracker. It’s a great system though the focus seems to be on ‘persona’ finanance as opposed to ‘business’ finance. Intuit does offer several other business products in their Quicken line.

Less Accounting

LessAccounting is also an interesting option. They have a great feature set and a strong focus on usability and design. Worthwhile looking into as well.

Outright

Outright Accounting Software

Another cloud solution to finances. Outright’s focus is on small business and their plans start from a very reasonable $10/mo. Outright is owned by GoDaddy.

Kashoo

Kashoo

Another new entrant on the scene, Kashoo markets itself as Simple Cloud Accounting. The interface does look straightforward and they heavily promote that their software works well on the iPad. Plans start from $16/mo

Sage

Sage Accounting Software

Sage has product offerings for all sizes. If it’s just you in the office, you can look at Sage One. If you’re part of a small team their Small Business solution will likely be a better fit. Probably Sage’s best known product is Simply Account or Peachtree. They’ve released new versions called Sage 50 – which I haven’t used.

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