Best Accounting Software for Consultants of 2024
Find accounting software best suited to the size of your consulting business and with strong time tracking, billing and client management features.
Learn more Choosing the right accounting software
Here is our list of the best accounting software for consultants.
Why trust NerdWallet
🤓
Before making a final decision about the accounting software for your consultancy, take advantage of a free trial period if one is offered (most of the products on our list offer a free trial). Rather than using the free trial period to set up your books perfectly, test the features you will use most often, and make sure the software you choose best supports the needs of your business. Nerdy Tip
Our pick for simple accounting software
Starting at
$20/month
Additional pricing tiers (per month): $47, $80.
Promotion
50% off
for 3 months.
on Xero's website
Pros
- Unlimited users in all pricing plans.
- Integrates with more than 1,000 third-party apps.
- Feature set includes an excellent mobile app and suite of reports, capable invoicing features, plus automated bill and receipt capture through Hubdoc.
- Simple layout and easy to use.
Cons
- No inbound phone customer support (callbacks are available, though).
- Entry-level plan limits bills and invoices to five and 20 per month, respectively.
- Must subscribe to the highest-tier Established plan to claim expenses.
Our pick for simple accounting software
Xero
Best for Overall accounting software for consultants
Starting at
$20/month
Additional pricing tiers (per month): $47, $80.
Promotion
50% off
for 3 months.
on Xero's website
Pros
- Unlimited users in all pricing plans.
- Integrates with more than 1,000 third-party apps.
- Feature set includes an excellent mobile app and suite of reports, capable invoicing features, plus automated bill and receipt capture through Hubdoc.
- Simple layout and easy to use.
Cons
- No inbound phone customer support (callbacks are available, though).
- Entry-level plan limits bills and invoices to five and 20 per month, respectively.
- Must subscribe to the highest-tier Established plan to claim expenses.
Starting at
$38/month
Additional pricing tiers (per month): $75, $115, $275.
Promotion
50%
for first three months or free 30-day trial.
on QuickBooks' website
Pros
- Easy to share information with your accountant and to find QuickBooks experts and online resources if needed.
- More than 750 app integrations.
- Robust feature set includes record-keeping, reporting, invoicing and inventory management, plus a capable mobile app.
- Chat and phone support available Monday through Saturday in all plans.
Cons
- Expensive compared with the competition.
- Frequent price increases and a tendency toward upselling.
- Limited account users with each plan.
QuickBooks Online
Best for Boutique consulting businesses
Starting at
$38/month
Additional pricing tiers (per month): $75, $115, $275.
Promotion
50%
for first three months or free 30-day trial.
on QuickBooks' website
Pros
- Easy to share information with your accountant and to find QuickBooks experts and online resources if needed.
- More than 750 app integrations.
- Robust feature set includes record-keeping, reporting, invoicing and inventory management, plus a capable mobile app.
- Chat and phone support available Monday through Saturday in all plans.
Cons
- Expensive compared with the competition.
- Frequent price increases and a tendency toward upselling.
- Limited account users with each plan.
Starting at
$21/month
Additional pricing tiers (per month): $38, $65, custom.
Promotion
90% off
for 3 months. 30-Day Money Back Guarantee.
on FreshBooks' website
Pros
- Stay in touch with clients through the FreshBooks mobile app and get notified when invoices have been viewed or become overdue.
- Intuitive, customizable invoicing capabilities compete with those of more robust accounting solutions.
- Track time and add billable hours to invoices in all plans.
- Weekday phone support in all plans.
Cons
- Highest-tier Select plan only comes with two users (additional users add $11 per month) and lower-tier plans put limits on billable clients.
- Least expensive plan lacks double-entry accounting reports, bank reconciliation and accountant access.
FreshBooks
Best for Self-employed consultants
Starting at
$21/month
Additional pricing tiers (per month): $38, $65, custom.
Promotion
90% off
for 3 months. 30-Day Money Back Guarantee.
on FreshBooks' website
Pros
- Stay in touch with clients through the FreshBooks mobile app and get notified when invoices have been viewed or become overdue.
- Intuitive, customizable invoicing capabilities compete with those of more robust accounting solutions.
- Track time and add billable hours to invoices in all plans.
- Weekday phone support in all plans.
Cons
- Highest-tier Select plan only comes with two users (additional users add $11 per month) and lower-tier plans put limits on billable clients.
- Least expensive plan lacks double-entry accounting reports, bank reconciliation and accountant access.
Starting at
$35/month
Per user. Additional pricing tiers per user (per month): $70.
Promotion
7-day free trial
on Striven's website
Pros
- Offers industry-specific features for consulting businesses, nonprofits, manufacturing companies, professional services and more.
- Tools to ensure tax compliance.
- Other features include inventory tracking, reporting, invoicing, project management tools and the ability to categorize transactions using classes.
- Customer support available by phone and live chat.
Cons
- Monthly costs could add up quickly if you require multiple users.
- No mobile app.
- Limited third-party integrations available; no payroll integrations.
Striven
Best for Client management features
Starting at
$35/month
Per user. Additional pricing tiers per user (per month): $70.
Promotion
7-day free trial
on Striven's website
Pros
- Offers industry-specific features for consulting businesses, nonprofits, manufacturing companies, professional services and more.
- Tools to ensure tax compliance.
- Other features include inventory tracking, reporting, invoicing, project management tools and the ability to categorize transactions using classes.
- Customer support available by phone and live chat.
Cons
- Monthly costs could add up quickly if you require multiple users.
- No mobile app.
- Limited third-party integrations available; no payroll integrations.
Pros
- Automation features streamline financial processes.
- Customizable reports and dashboard enhance business insights.
- Consolidates many functions, like billing, invoicing, cash flow management payroll and HR, within a single product.
Cons
- Quote-based pricing makes it difficult to compare with competitors.
- Not suitable for small businesses that don’t plan to grow.
Pros
- Automation features streamline financial processes.
- Customizable reports and dashboard enhance business insights.
- Consolidates many functions, like billing, invoicing, cash flow management payroll and HR, within a single product.
Cons
- Quote-based pricing makes it difficult to compare with competitors.
- Not suitable for small businesses that don’t plan to grow.
NerdWallet's picks for the best accounting software for consultants
Xero
Best overall accounting software for consultants
Why we picked it: Xero nabs our No. 1 spot because it matches QuickBooks Online on nearly every key feature for accounting software to have and yet its monthly plans come in at a lower price point, the software’s layout is simple and easy to navigate, and it doesn’t exist within a corporate software ecosystem that lends itself to frequent price increases and upsells.
Xero’s project tracking tool will be especially useful to consulting businesses of any size. The software includes a clean and simple dashboard that’s easy to navigate and provides an all-up view of project status as well as financial insights. There’s no limit to the number of projects you can track, and built into this feature is a timer for easy and accurate time tracking Xero review
Price
QuickBooks Online
Best for boutique consulting businesses
Why we picked it: As a leading accounting software product and probably the most recognizable name in the space, QuickBooks Online is supported by a large and ever-growing number of accountants and bookkeepers. This means if you need help, you’ll be able to easily find it. Because it’s such a well-established product and because it exists as part of a full suite of software products that extend beyond accounting, QuickBooks Online is a great solution for small and boutique consulting firms, perhaps even with more than one location.
With its time tracking, payroll payment processing QuickBooks Online review
Price
FreshBooks
Best for self-employed consultants
Why we picked it: Some consultants may find Xero and QuickBooks Online to be a little “too much” for what they need in their accounting software, especially if they run a solo business. If you own a very small consulting business and are looking for accounting software that is still fully functional but less overwhelming, check out FreshBooks.
FreshBooks started out as a time tracking and invoicing software track your expenses FreshBooks review
Price
Striven
Best for client management features
Why we picked it: Striven is complete business management software that includes features for CRM, project management, inventory management
Striven stands apart from some of the other software on this list with its variety of industry-specific features for fields from nonprofits property management construction law firms cloud accounting software Striven review
Price
Sage Intacct
Best for midsize consulting firms
Why we picked it: Similar to Striven, Sage Intacct is powerful cloud software that offers more than accounting functions; it also includes payroll and HR tools. The software is designed to serve small to medium-size businesses with 20 to 500 employees. Sage Intacct’s detailed yet easy to digest dashboard lets you track your business financials through multiple filter and visualization options. The software makes use of AI and automation technology for many of its accounting functions, including accounts payable accounts receivable
Unlike the rest of the providers on our list, Sage is not transparent with its pricing for this product, which makes it difficult to compare cost while shopping for accounting software. You’ll need to contact Sage directly for a quote. Read our Sage Intacct review
Price
What consultants need in an accounting solution
Consultants have specific needs when considering the best accounting software for their businesses. Some of these needs include:
- Time tracking and customer billing: Time is a consultant’s most precious commodity. If you use a value pricing or package pricing model in your consultancy, you need to know where you are spending your time. If you bill by the hour, time tracking becomes critical to your business’s revenue. Your accounting software needs to be able to quickly pull your billable time into an invoice, which you can then easily send to your client.
- Billable expenses: Whether expenses are a regular part of the consulting business or incidental expenditures, most consultants must pass billable expenses on to their clients. Your accounting software must allow you to not only track your billable expenses and easily pull them into an invoice but also apply a markup charge if applicable. Your accounting software will serve you especially well if you can easily attach receipt images to expenses, since many clients will require backup documentation prior to paying your invoice.
- Mileage tracking: All small businesses can benefit from keeping a mileage log if the owner uses a personal vehicle for business. Although technology has made it easy for consultants to work with clients all across the country and even around the world, many consultants still travel to their clients’ businesses and need to be able to track their mileage for billing. Your accounting software should have a built-in mileage tracker or directly integrate with one.
Billie Anne Grigg contributed to an earlier version of this article, which was first published on Fundera, a subsidiary of NerdWallet.
Methodology
NerdWallet independently reviews accounting software products before determining our top picks. We collect the data for our software ratings from products’ public-facing websites and from company representatives. Information is gathered on a regular basis and reviewed by our editorial team for consistency and accuracy.
NerdWallet’s accounting software ratings favor products that are easy to use, reasonably priced, have a robust feature set and can grow with your business. The best accounting software received top marks when evaluated across 10 categories and more than 30 subcategories. Learn more about how we rate small-business accounting software
These ratings are meant to provide clarity in the decision-making process, but what’s best for your business will depend on its size, growth trajectory and which features you need most. We encourage you to research and compare multiple accounting software products before choosing one.
NerdWallet does not receive compensation for any reviews. Read our editorial guidelines