Best Accounting Software for Consultants for 2022 (Plus Free Options)

by Doc Kane
Updated: February 19, 2022

From one seat to many, and free to quite pricey, you already know there is a lot to think about when it omees to an accounting software for your independent consulting practice. Which is best? Well, it depends, as they say… let's do some digging why don't we.

You're great at solving problems for people. But how good are you at managing your small business accounting needs. Whether you're just getting started as an independent consultant, or have been at it awhile and are considering transitioning to a different vendor for your billing, invoicing, and overall accounting needs, knowing what's out there beyond the familiar name is always helpful. I did the research so you don't have to. Let's take a look at the list. Here are my picks for the best in accounting software for consultants and small business owners of all stripes.

1. Kashoo Accounting

Kashoo is a free online accounting software that features an intuitive interface, cloud-based filing and is ideal for small business owners. It features a number of time saving features such as automated invoice emails, customisable expense categories, payment reminders and forecasting capabilities. Through Kashoo's advanced bank feed feature, the software automatically imports transactions from your bank accounts. These transactions can then be exported to a .csv file for other programs such as QuickBooks or Xero. The software also features an intuitive Expense Report tool, allowing you to quickly generate customisable expense reports from the application's dashboard.

Account features

Account features allow business owners to store and manage company finances in one place, regardless of the business's size.

– Track all transactions and account balances in one place,

– Stay on top of cash flow with customisable payment reminders, forecasts and invoices,

– Automatically import transactions from your bank accounts through Kashoo's advanced bank feed feature,

– Export data to other programs such as QuickBooks, Xero or other accounting software.

Intuitive features

– Process expenses automatically with the Expense Report tool,

– Customise expense categories to suit your business's needs,

– Attach photos and files to expenses for a complete documentation of the transaction,

2. Xero Accounting

Xero accounting software: accounting software for small business Xero is an accounting solution that's easy to use, works on any device and gives you the tools to manage your accounting needs. Xero is a cloud-based accounting software package that provides both invoicing and financial recordkeeping for small businesses.

As an independent consultant, you might be interested in using Xero if you're looking to free yourself from the constraints of traditional desktop bookkeeping applications like Quickbooks. For example, Xero can connect to most popular bank accounts, which means you'll never have to manually enter bank transactions or pay hefty fees for upgrading your desktop version.

Xero is also a cloud-based accounting software, as opposed to a desktop application. This means that Xero's software doesn't need to be installed on any one machine and it can be accessed by multiple people at the same time. Xero also provides great benefits to consultants through its invoice templates, customizable reports, and direct bank feed service.

3. ProsperWorks

You can't have a list of accounting software for small business without mentioning this accounting software that accounting professionals trust . This accounting solution provides a powerful CRM and accounting system built into one, giving you the tools you need to stay connected to your work and organize your life.

4. Freshbooks

A certified hit with accounting software for small business recommendations, and a favorite among solo entrepreneurs across multiple industries , this accounting subscription service is an all-in-one solution. FreshBooks has everything you need to keep track of your time and expenses, send invoices, get paid, manage your workflows, and generate professional-looking reports.

One major benefits of using FreshBooks is that it's compatible with Quickbooks. In addition to benefits as a software as a service website, you can access your account from your smartphone or tablet.

5. Wave Accounting

This online accounting service is another alternative if you want the benefits of working with a cloud-based accounting program. One benefit of using this service is that it's completely free—period, no asterisk. Wave makes money by charging a small fee on transactions, but the company doesn't tack on any hidden costs.

6. GoDaddy Online Bookkeeping (formerly Outright)

This all-in-one solution offers a pretty good deal. It's free to use for up to three clients, and it offers a bunch of benefits. The benefits of using this service include the fact that you can easily download transactions from your financial institutions, access reports from anywhere at any time, and track everything in one place thanks to a single dashboard. You can scan receipts into a folder and automatically import that information into your reports. You can also keep track of recurring transactions, payment schedules, and balances on bills.

The benefits of using this service include the fact that you can easily download transactions from your financial institutions, access reports from anywhere at any time, and track everything in one place thanks to a single dashboard. You can scan receipts into a folder and automatically import that information into your reports. You can also keep track of recurring transactions, payment schedules, and balances on bills.

Created by the same people who developed the online office applications offered by Zoho , this accounting service is another option worth considering if you want to manage your finances from your mobile device. In addition to benefits as a software as a service website, you can access your account from your smartphone or tablet.

8. Quickbooks

This accounting software has been trusted by businesses since the 1980s , and continues to be one of the accounting software for small businesses that accounting professionals recommend . Many benefits, including overall benefits , can be attributed to Quickbooks' ability to satisfy everyday bookkeeping needs.

First off, the benefits are numerous. Being able to create financial reports with relative ease is an important one for small businesses looking to improve their financial control . Other benefits include the QBO Activity Tracker which allows you to see at a glance what you have done , the benefits of being able to connect bank accounts and accounting software, general benefits of invoice payments, payment approvals, online banking options, etc.

From the above benefits Quickbooks has been considered as one of the best accounting software . The QBO Activity Tracker shows the transaction list in different formats which are liked by many users. It's simple, easy to understand and adaptable in nature that benefits both new and experienced users.

 

9. Billing Tree

This solution is another all-in-one option that bills itself as the ultimate small business management tool. The benefits of using this service include a high level of flexibility and multiple benefits: You can easily track expenses and mileage, easily pay employees and subcontractors, and see the benefits of using this service include a high level of flexibility and multiple benefits: You can easily track expenses and mileage, easily pay employees and subcontractors, and see where your money is going. As far as pricing goes, this service starts at $9 per month, or you can pay $99 per month if you want to access their phone support.

10. Invoice Bus

This is another service designed for the needs of small businesses and organizations, since it allows you to create an unlimited number of invoices. You can even set up recurring billing based on a monthly, quarterly, or annual schedule. As far as benefits go, the benefits of using this service include a pay-as-you-go approach that requires no long-term commitments, easy online payments with PayPal and Stripe integration , and access to new reports on a regular basis.

11. Bench Accounting

Bench acccounting software

is a great option for small businesses. The platform is easy to access anywhere, and the customer service team has 24/7 availability to help with any issues or concerns that may come up. There is also an app that allows you to stay on top of your bookkeeping from wherever you are.

7. Beanworks AP

Independent consultants often need to take care of every aspect of their business, from taxes to benefits. BeanworksAP Accounting can help with that by providing benefits and accounting for independent consultants in one package.

13. Intacct

Intacct offers accounting solutions designed specifically for midsize companies that want accounting software made just for their size . You can track where your money goes with accounting tools , and set up accounting software that works for your company

14. Less Accounting

PayPal has been around forever, and many people have already done the initial work of setting up an account. I think I had my first PayPal account way back in the late 90's as an early eBay user. That said, I don't use it at all any more for a number of reasons. First, if you ask around to enough consultants and e-commerce merchants who have used PayPal in the past, nearly all of them will have tales to tell of having money withheld, or withdrawn without their consent. PayPal is currently in the middle of a class-action suit for this very reason. So, while convenient, as an employer, you're likely to have problems finding independent contractors and solo consultants who will accept payment via Paypal, so it's best to have other, more friendly options in my opinion.

15. Sage Accounting

This accounting software for small business is a great solution for accounting teams working in large companies that want to assign tasks to another team member , with tools designed specifically to meet accounting needs. There are benefits to using Sage Accounting for different types of consultants, however, benefits depend on the type of contract the consultant has.

Sage offers Long Term Global Support Contracts called Global Care plans . There are three levels of support offered under this plan- Silver, Gold, and Platinum Plans. The Sage website does not have a description of benefits related to each plan, but the benefits may vary depending on the type of relationship between Sage and the consultant.

The benefits for Contractors are listed here: cs.sageuk.com/…/contractor_plan_benefits_list

A one-time setup fee is required for this plan, but there are no monthly fees or usage fees.

Consultants who use Sage software as part of their own business may want to upgrade to the Professional Services Automation Tools, or PSA tools . According to the options on the website, it looks like this is not a subscription service but more of an “add-on” purchase.

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About Me

Howdy, all, I'm Doc. I live in the beautiful port city of Kobe, JAPAN with my wife Reiko. Together we co-founded the Japanese literature translation firm, Maplopo. Nihon Hustle grew out of my desire to help others interested in working with, or starting, a business Japan—or anywhere else in the world!

We all wear different hats and my job is to help you find the one that fits you best. Thanks for reading, and go get 'em!