Searching for the best accounting software for consultants for your business?

Save yourself time and stress. We’re here to help you find the right accounting software for consultants solution for your work.

What is accounting software for consultants?

Accounting software helps freelance and independent consultants manage small-scale financial accounting data. A core package generally includes the following modules: accounts payable, accounts receivable, general ledger, and billing and invoicing.

What 5 key Accounting Software for Consultants features should I look for?

Accounts payable

Enables you to keep track of what you owe and also pay all your bills on time. The feature helps you process your outgoing funds, track invoices, store vendor details and print checks.

Accounts receivable

Helps you effectively manage your incoming payments. The feature offers billing codes for easy handling of recurring outgoing invoices to customers and payment codes for efficient crediting of payments from multiple accounts at one time.

General ledger

Allows users to maintain a comprehensive record of all financial transactions and track spending by project. The feature simplifies budgeting and reporting by showing past and future transactions from specific accounts within a specified date range.

Billing and invoicing

Gives users the ability to track transactional financial data and create billing and invoicing documentation for clients.

Customer relationship management (CRM)

CRM applications help consultants manage interactions with current and prospective customers, clients and/or partners, with the goal of increasing customers, revenue and customer satisfaction.

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Showing 1 - 20 of 259 products
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Showing 1 - 20 of 259 products

JD Edwards EnterpriseOne

Oracle JD Edwards EnterpriseOne is an enterprise resource planning software with primary features such as real estate management, human capital management, environmental health and safety and commodity trading. What is JD...Read more

4.13 (136 reviews)

3 recommendations

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Microsoft Dynamics AX

Microsoft Dynamics 365 provides integrated solutions that allow businesses to track leads, automate field service, drive sales and improve operations using mobile, enterprise-ready business apps from the cloud. What is Mi...Read more

3.78 (65 reviews)

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Slingshot Enterprise Business Suite

The Slingshot Enterprise Business Suite is a web-based enterprise resource planning (ERP) software suite designed to serve mid-sized to large businesses. The system serves retail, distribution, manufacturing, financial services, p...Read more

4.33 (3 reviews)

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Sage Intacct

Sage Intacct is a provider of cloud-based financial management and accounting software. Sage Intacct's software solution is suitable for small to midsize accounting firms and can provide financial reporting and operational insight...Read more

4.17 (312 reviews)

17 recommendations

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OASIS

OASIS by Intellitek is a full-featured ERP solution that is a great solution for overall Supply Chain Management. It features several important applications, such as Supplier Management, Procurement, and Transportation Management....Read more

3.43 (7 reviews)

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UNIT4 Financials

Unit4 Financials (formerly Coda Financials) is a cloud-based accounting and financial management solution for public sectors, real estate, education, professional service, financial services and wholesale providers. It includes ge...Read more

4.13 (8 reviews)

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NetSuite

With an integrated system that includes ERP, financials, commerce, inventory management, HR, PSA, supply chain management, CRM and more – NetSuite enables fast-growing businesses across all industries to work more effectively by a...Read more

No reviews yet

21 recommendations

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Adaptive Planning

Workday Adaptive Planning, founded in 2003, provides a web-based system for budgeting, forecasting and reporting. The solution is suitable for a wide variety of company sizes. Delivered over the Web in a software-as-a-service (Saa...Read more

4.48 (174 reviews)

6 recommendations

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BizAutomation

BizAutomation is an ERP solution suitable for any industry. At the core of the system is intuitive and integrated functionality for Customer Relationship Management, and Financial Accounting. The system is delivered as a SaaS....Read more

4.88 (26 reviews)

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Flexi Software

Flexi is an on-premise as well as a cloud-based accounting solution for the banking, insurance, healthcare and service industries. The Flexi accounting solution features automation of accounting process and completion of audit tra...Read more

4.40 (5 reviews)

1 recommendations

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Software pricing tips

Read our Accounting Software for Consultants Buyers Guide

Subscription models

  • Per employee/per month: This model allows you to pay a monthly fee for each of your employees.
  • Per user/per month: Users pay a monthly fee for users—normally administrative users—rather than all employees.

Perpetual license

  • This involves paying an upfront sum for the license to own the software and use it indefinitely.
  • This is the more traditional model and is most common with on-premise applications and with larger businesses.

Rated best value for money

Planning Maestro

Centage’s Planning Maestro is a cloud-native planning & analytics platform that delivers year-round financial insight, transforming how companies budget, forecast and report performance. Centage delivers a level of sophistica...Read more

3.95 (42 reviews)

5 recommendations

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PlanGuru

PlanGuru is an on-premise business planning and budgeting solution for small businesses and nonprofits. The solution helps accountants to build financial forecasts, prepare budget analysis and address financial constraints of smal...Read more

4.16 (54 reviews)

3 recommendations

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Multiview ERP

Multiview Financials is the flagship ERP system developed, sold, implemented, and supported by Multiview Financial Software. Multiview is designed for organizations ranging in size from rapidly growing small businesses to large en...Read more

4.40 (10 reviews)

16 recommendations

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CCH Tagetik

CCH Tagetik is a unified BI and accounting software that helps to optimize financial and operational planning. The solution also shortens the consolidation and closing process and allows users to analyze results, model, as well as...Read more

4.31 (82 reviews)

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Bassets eDepreciation

eDepreciation by Bassets is an on-premise fixed asset depreciation solution designed for midsize and large businesses. It caters to multiple market segments, such as banking and mortgage, distribution, health care, insurance, phar...Read more

4.00 (3 reviews)

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Fixed Assets Manager

Fixed Assets Manager by Red Moon Solutions is an asset management solution designed to support the businesses' internal tax practices. Fixed Assets Manager offers organizations in various industries, functionalities to track their...Read more

3.50 (2 reviews)

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Asset4000

Asset4000 is an on-premise and cloud-based fixed asset accounting solution for small, mid-sized and large enterprises. Real Asset Management, the software vendor has now rebranded and is part of MRI Software and continues to prov...Read more

4.55 (47 reviews)

13 recommendations

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Up Your Cash Flow

Up Your Cash Flow is an on-premise budgeting and cash flow forecasting solution for small and mid-sized businesses. It is designed to help the CPA’s, CFOs, controllers and consultants to perform financial analysis and create cash ...Read more

0.00 (2 reviews)

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Fixed Assets

Bloomberg Tax & Accounting Fixed Assets software is a cloud-based solution that helps companies manage the entire lifecycle of their fixed assets, from construction and purchase through retirement. Primary features include fixed a...Read more

4.08 (26 reviews)

4 recommendations

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UNIT4 ERP

Successful nonprofit management depends on the ability to quickly adapt to change, both internally and externally. UNIT4 offers nonprofit organizations and NGOs a complete, fully integrated Enterprise Resource Planning (ERP) solu...Read more

3.83 (12 reviews)

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Popular Accounting Software for Consultants Comparisons

Buyers Guide

Last Updated: March 10, 2022

With so many options to choose from, finding the right accounting software is a daunting process—especially for consultants, who often operate independently and without the budget of larger, enterprise-level businesses.

But that same degree of autonomy is exactly why it's important to find the correct accounting software to meet the unique needs of your business. Without the right accounting software, consultants won't have the breadth of financial insight, integration and automation necessary to thrive in today's economy. We created this Buyer's Guide to help them find the perfect fit.

Here's what we'll cover:

What Is Accounting Software for Consultants?
Common Features of Accounting Software for Consultants
What Type of Buyer Are You?
Benefits and Potential Issues
Market Trends to Understand

What Is Accounting Software for Consultants?

Accounting software helps freelance and independent consultants manage small-scale financial accounting data. A core package generally includes the following modules:

  • Accounts payable
  • Accounts receivable
  • General ledger
  • Billing and invoicing

The dashboard will have some variation of those modules alongside other supplemental features. For example, Sage Intacct's dashboard contains General Ledger, Accounts Payable, Accounts Receivable and Order Entry, among other modules.

Sage Intacct dashboard

Sage Intacct dashboard

Furthermore, there are certain criteria that differentiate accounting software for consultants from accounting software for other types of businesses. These can include features such as cloud-based applications and customer relationship management (CRM) capabilities.

Common Features of Accounting Software for Consultants

While different vendors offer different sets of features unique to their application, there are several core elements of accounting software consultants can expect to find:

Accounts payable

Enables you to keep track of what you owe and also pay all your bills on time. The feature helps you process your outgoing funds, track invoices, store vendor details and print checks.

Accounts receivable

Helps you effectively manage your incoming payments. The feature offers billing codes for easy handling of recurring outgoing invoices to customers and payment codes for efficient crediting of payments from multiple accounts at one time.

General ledger

Allows users to maintain a comprehensive record of all financial transactions and track spending by project. The feature simplifies budgeting and reporting by showing past and future transactions from specific accounts within a specified date range.

Billing and invoicing

Gives users the ability to track transactional financial data and create billing and invoicing documentation for clients.

Customer relationship management (CRM)

CRM applications help consultants manage interactions with current and prospective customers, clients and/or partners, with the goal of increasing customers, revenue and customer satisfaction.

Financial reporting

Enables you to track and report on your financials with recognized business accounting best practices.

Online accounting

Allows users to access and modify all accounting data remotely through a cloud-based server hosted by the vendor.

Project accounting

Helps project-oriented consultants maximize job profitability and efficiency by tracking detailed cost breakdowns of individual projects. It allows consultants to examine prior job costs and estimate future costs to choose the jobs based on projected profit.

Asset management

Offers a central asset and inventory management system for managing equipment from acquisition to depreciation to maintenance.

What Type of Buyer Are You?

It's important to consider what type of buyer you are before examining your options so that you know exactly what to look for in a product. Most consultants seeking accounting software fall into one of three categories:

Freelance consultant. Independent consultants are responsible for managing their own financial accounting data, without the infrastructure or budget of a business with multiple employees. These types of buyers aren't usually experts in accounting, and therefore require only basic accounting functions while prioritizing ease of use and cost over more feature-rich platforms.

Consulting firm. Ranging from a small handful of employees to a midsize network of individual consultants, these businesses often desire more robust systems. These systems should be capable of managing multiple users and projects, as well as the ability to integrate with existing systems like CRM or asset management software. They therefore require a product with a greater degree of sophistication and wider range of applications, such as CRM software, to fulfill their business needs.

Best-of-breed buyer. These buyers have more familiarity with accounting software and its specific functions. They know the individual applications they desire and how they will address their consulting and accounting initiatives. For example, an HR consultant would seek payroll management capabilities, while nonprofit and cause-driven consultants would look specifically for accounting software to help manage funds and a variety of financial benchmarks. Best-of-breed buyers like these typically prioritize functionality over integration.

Benefits and Potential Issues

When you boil it down, the benefits of accounting software for consultants are the same as any other business: a clearer and more comprehensive analysis of one's accounting data, which in turn leads to more responsible financial decisions and a better understanding of the proverbial Big Picture. Advancements in automation and integration have made accounting software an essential piece of the business pie, rendering older, manual accounting methods extinct.

That said, there are certain things you'll want to consider before implementing accounting software into your consulting business. For independent and freelance consultants, protecting existing data and ensuring a seamless transition is paramount. This is especially tricky when integrating with other software, so be sure to back up all client data prior to implementation.

It's also important to ensure that a given piece of software includes all desired functionality and is sufficient for your organization's projected growth rate. The last thing you want is to invest in new software only to realize it doesn't have a specific feature, or that your consulting business will outgrow the software's capabilities as it acquires more clients. Thankfully, most accounting software platforms offer trials and demos that will allow you to test drive it before you buy it.

Market Trends to Understand

Consultants will want to keep an eye on these notable trends playing out in the accounting software space:

Cloud-based software. Accounting software platforms—and really software as a whole—are moving toward the Software-as-a-Service (SaaS) model. Compared to the more traditional on-premise hosting model, SaaS offers lower upfront costs and quicker implementation time. Both of these factors make cloud-based software ideal for consultants with smaller budgets and less margin for downtime.

Mobile apps. Similarly, mobile applications and smartphone-optimized web interfaces are gaining popularity not just in accounting, but across all industries. This trend is particularly relevant to consultants, who are often on-the-go and managing multiple accounts at once. For a detailed look, check out our breakdown of the best mobile accounting apps.

Industry-specific features. More and more, vendors are offering industry-specific features that cater to the unique needs of a given vertical. Be sure to keep this in mind when investigating solutions for your consulting business, as even products that were once broader and more horizontal continue to add features that benefit specific industries.

Vendor consolidation. When evaluating accounting software for consultants, buyers should consider the financial viability of small vendors, which larger merchants are acquiring at an ever-increasing rate. This is especially true of accounting and ERP markets, with major players like Oracle and Sage making significant acquisitions in recent years.