21 Best Professional Services Accounting Software Reviewed In 2024
10 Best Professional Services Accounting Software Shortlist
Here's my pick of the 10 best software from the 21 tools reviewed.
Our one-on-one guidance will help you find the perfect fit.
Professional services accounting software is essential for most professional services businesses looking to optimize financial management, streamline project billing, and improve overall business management. However, with numerous options on the market, choosing the right solution can be challenging.
Using my experience with finance and accounting software, I tested and compared several of the top professional services accounting software available. From there, I compiled my results into detailed reviews to help you find the best software for your needs.
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Best Professional Services Accounting Software Summary
This comparison chart summarizes pricing details for my top professional services accounting software selections to help you find the best one for your budget and business needs.
| Tools | Price | |
|---|---|---|
| Zoho Books | From $15/month (billed annually) | Website |
| Bench | From $249/month (billed annually) | Website |
| FreshBooks | From $10/month (billed annually) | Website |
| BlackLine | Pricing upon request | Website |
| Bill4Time | From $27/user/month (billed annually) | Website |
| Projectworks | From $33/user/month (billed annually) | Website |
| Acomba | Pricing upon request | Website |
| Kashoo | From $20/month | Website |
| QuickBooks | From $35/month | Website |
| Harvest | From $10.80/user/month | Website |
Compare Software Specs Side by Side
Use our comparison chart to review and evaluate software specs side-by-side.
Compare SoftwareHow to Choose Professional Services Accounting Software
It’s easy to get bogged down in long feature lists and complex pricing structures. To help you stay focused as you work through your unique software selection process, here’s a checklist of factors to keep in mind:
| Factor | What to Consider |
| Scalability | Will the software grow with your business? |
| Integrations | Does it connect with your existing tools? |
| Customizability | Can you tailor it to fit your team’s needs? |
| Ease of Use | Is it user-friendly for your team? |
| Budget | Does it fit within your financial constraints? |
| Security Safeguards | Are your data protection needs met? |
| Customer Support | Is there reliable support available? |
| Reporting Features | Does it provide the insights you need? |
Best Professional Services Accounting Software Reviews
Below are my detailed summaries of the best professional services accounting software that made it onto my shortlist. My reviews offer a detailed look at the key features, pros & cons, integrations, and ideal use cases of each tool to help you find the best one for you.
Zoho Books is a cloud-based accounting solution aimed at small to medium-sized businesses. It facilitates invoicing, expense tracking, and project management, making it ideal for teams that need integrated financial and project oversight.
Why I picked Zoho Books: Zoho Books helps you manage your projects and accounting in one place. You can track billable hours and project expenses easily, keeping everything in line with your financial records. If you work with international clients, multi-currency support comes in handy. The platform also lets you automate tasks like recurring invoices and payment reminders, saving your team time.
Standout features & integrations:
Features include automated workflow rules that help reduce manual tasks and errors. You can set up recurring billing for clients with regular payments and track inventory levels to maintain adequate stock. The client portal allows your clients to view their transactions and make payments quickly.
Integrations include Zoho CRM, PayPal, Stripe, G Suite, Office 365, Zapier, Slack, Mailchimp, Shopify, and Square.
Pros and cons
Pros:
- Client portal access
- Recurring billing options
- Project expense tracking
Cons:
- Limited customization options
- Complex setup process
Bench is a bookkeeping service that caters mainly to small businesses and startups. It focuses on providing monthly financial statements and bookkeeping support, helping teams manage their finances without the need for in-house accounting expertise.
Why I picked Bench: Bench takes care of your bookkeeping, providing a personal bookkeeper to manage your financial records. You’ll get accurate monthly reports to help you understand your business’s finances. When tax season comes around, Bench prepares year-end financial packages to make filing easier. With a dedicated bookkeeping team, you can focus on running your business while they handle the numbers.
Standout features & integrations:
Features include monthly income statements and balance sheets that give you a clear view of your financial performance. The software provides cash flow management tools to help you track your cash inflows and outflows. With its intuitive client portal, you can easily access your financial data and communicate with your bookkeeping team.
Integrations include Stripe, Shopify, Square, PayPal, Gusto, FreshBooks, QuickBooks Online, Xero, Amazon, and BigCommerce.
Pros and cons
Pros:
- Cash flow management
- Monthly financial reports
- Dedicated bookkeeping team and year-end tax support
Cons:
- Not ideal for large businesses
- Cost can be high for small businesses
FreshBooks is an accounting software designed primarily for small businesses. It handles invoicing, expense tracking, and time tracking, catering to freelancers and small teams.
Why I picked FreshBooks: FreshBooks makes billing easy for your small business with features that simplify invoicing and expense tracking. You can customize invoices, set up recurring billing, and work with multiple currencies—handy if you deal with international clients. The time-tracking tool connects directly to invoices, so you’ll always bill for every hour worked. Plus, the mobile app lets your team manage finances on the go.
Standout features & integrations:
Features include automated late payment reminders, expense tracking with receipt uploads, and project management tools that help your team stay organized. You can also generate insightful financial reports to help make informed decisions. The software's double-entry accounting ensures that your records are accurate and reliable.
Integrations include Gusto, Stripe, Shopify, G Suite, PayPal, HubSpot, Mailchimp, Zapier, Trello, and Slack.
Pros and cons
Pros:
- Integrated time tracking
- Automated late payment reminders
- Customizable invoice templates
Cons:
- Limited advanced features
- Slight learning curve for beginners
BlackLine is an advanced accounting platform designed for large enterprises that need end-to-end financial close management. It helps finance teams automate and control the financial close process, ensuring accuracy and compliance.
Why I picked BlackLine: BlackLine specializes in financial close automation, which is helpful for enterprises handling complex financial data. It aims to make the reconciliation process smoother and standardize financial close workflows. BlackLine's transaction matching feature reduces manual effort by automating high-volume reconciliations. Its compliance tracking ensures your team meets regulatory requirements, making it a reliable choice for large organizations.
Standout features & integrations:
Features include task management capabilities that help organize your financial close schedule. The software offers variance analysis tools, allowing you to identify discrepancies in financial statements. Its real-time dashboards provide visibility into the close process, helping you monitor progress and resolve issues quickly.
Integrations include Oracle, SAP, NetSuite, Microsoft Dynamics, Workday, Sage, QuickBooks, Xero, Salesforce, and ADP.
Pros and cons
Pros:
- Real-time visibility into close status
- Reduces manual reconciliation effort
- Automates financial close processes
Cons:
- Limited flexibility for small businesses
- Complex setup process
Bill4Time is a cloud-based time tracking and billing software designed for legal professionals and other service industries. It offers features tailored to managing client billing, tracking time, and overseeing project details.
Why I picked Bill4Time: Bill4Time is built for legal professionals, offering tools for legal billing and trust accounting. You can manage client cases easily with detailed time entries and invoicing. The trust accounting feature helps you stay compliant with legal standards, and the secure client portals let you share documents and communicate with clients. It’s a solid choice if your law firm needs reliable billing and case management tools.
Standout features & integrations:
Features include customizable invoice templates, allowing you to tailor billing to your client's needs. The software also offers advanced reporting tools, giving you insights into your firm's performance and financial health. Mobile access ensures that you can track time and manage projects on the go.
Integrations include QuickBooks, PayPal, Dropbox, Box, Stripe, LawPay, PayPal Here, Outlook, Google Calendar, and Zapier.
Pros and cons
Pros:
- Secure client portals
- Customizable invoicing
- Legal compliance features
Cons:
- Limited customization options
- Slight learning curve for new users
Projectworks is a project and resource management software built for consultancies and professional services firms. It assists teams in planning, tracking, and managing resources and projects efficiently.
Why I picked Projectworks: Projectworks helps you manage resources, offering tools for better scheduling and utilization. You can allocate resources based on availability and skills, making sure projects are staffed right. The software lets you track projects in real-time, keeping your team on top of budgets and deadlines. Its forecasting feature helps you plan, matching project demands with your team's capacity.
Standout features & integrations:
Features include detailed project financials, offering insights into profitability and cost control. The software supports timesheet management, allowing your team to log hours and track billable time. Its customizable dashboards give you a clear view of project statuses and team workloads.
Integrations include Xero, QuickBooks Online, MYOB, HubSpot, Salesforce, Slack, Google Calendar, Microsoft Outlook, Harvest, and Asana.
Pros and cons
Pros:
- Forecasting for future needs
- Detailed financial insights
- Real-time project tracking
Cons:
- Not ideal for small projects
- Basic expense tracking
Acomba is an accounting solution that supports key financial functions, helping businesses manage their invoicing, payroll, inventory, and financial reporting. It’s designed for teams looking to keep their financial processes straightforward and compliant with regulations.
Why I picked Acomba: Acomba simplifies tax-compliant accounting and invoicing, making sure your business stays aligned with financial standards. You can easily handle payroll calculations and manage inventory levels without complicated steps. Acomba’s reporting tools help you keep track of finances with minimal hassle. Its design ensures that daily tasks are manageable, so you and your team can focus on other priorities.
Standout features & integrations:
Features include customizable financial reports that help you analyze business performance. The software offers project management tools, allowing you to track costs and revenues for specific projects. Its multi-user access enables collaboration within your team, ensuring everyone is on the same page.
Integrations include Shopify, WooCommerce, Adobe Commerce, QuickBooks Online, PayPal, Stripe, Square, FreshBooks, Xero, and Sage.
Pros and cons
Pros:
- Efficient inventory management
- Customizable financial reports
- Advanced payroll features
Cons:
- Limited advanced features
- Limited flexibility for non-Canadian users
Kashoo is an online accounting software designed for small business owners and freelancers. It provides essential financial tools for invoicing, expense tracking, and bookkeeping, making it ideal for those needing straightforward accounting solutions.
Why I picked Kashoo: Kashoo keeps accounting simple, giving you tools to manage your finances without the fuss. You can quickly create and send invoices, making billing easy. The platform’s automatic bank feeds help you track transactions, so you don’t have to spend time on manual data entry. With its user-friendly interface, you can stay on top of your finances without dealing with the complexity of more advanced systems.
Standout features & integrations:
Features include real-time reporting, which gives you insights into your financial health at a glance. The software offers multi-currency support, enabling you to manage international transactions with ease. Its receipt scanning feature helps you digitize and organize your expense receipts, reducing paperwork clutter.
Integrations include Stripe, PayPal, Square, FreshBooks, Wave, QuickBooks, Xero, Shopify, Etsy, and Amazon.
Pros and cons
Pros:
- Receipt scanning feature
- Automatic bank feeds
- Simple invoicing process
Cons:
- Limited support resources
- Not ideal for large businesses
QuickBooks is a versatile accounting software aimed at small to medium-sized businesses across various industries. It supports key business functions such as invoicing, payroll, expense tracking, and financial reporting, providing comprehensive tools for financial management.
Why I picked QuickBooks: QuickBooks grows with your business, offering tools to manage invoicing and payments easily, so you can keep your cash flow in check. The software tracks expenses by category, giving you a clear view of your spending habits. Its reporting features also help you make smart decisions as your business grows.
Standout features & integrations:
Features include project tracking, which helps you monitor project profitability and timelines. The software offers payroll management, supporting employee payment processes. Its inventory management feature keeps track of stock levels, ensuring you have the right amount of inventory on hand.
Integrations include PayPal, Shopify, Square, HubSpot, TSheets, Expensify, BILL, BigCommerce, Salesforce, and Mailchimp.
Pros and cons
Pros:
- Efficient payroll management
- Detailed reporting tools
- Scalable for growing businesses
Cons:
- Basic project management features
- Complex setup process
Harvest is a time-tracking and invoicing software tailored for freelancers and small to medium-sized businesses. It helps teams track time, manage projects, and create invoices, providing essential tools for project-based work.
Why I picked Harvest: Harvest is great for tracking time and handling invoices. You can track time with a simple start-and-stop timer, making it easy to bill clients for every hour you work. The software also generates detailed reports, providing visibility into where your team’s time is going. When it’s time to bill, you can create and send invoices straight from the tracked hours, ensuring you don’t miss any billable work.
Standout features & integrations:
Features include expense tracking, which allows you to log project-related expenses alongside time entries. The software provides real-time project reports, giving you insights into project progress and budget status. Automatic reminders can help ensure your team stays on track with time entries and deadlines.
Integrations include QuickBooks Online, Xero, Slack, Asana, Trello, Basecamp, Zapier, Stripe, PayPal, and Google Calendar.
Pros and cons
Pros:
- Simple invoicing process
- Detailed reporting tools
- Accurate time tracking
Cons:
- Slight learning curve for new users
- Basic expense management
Other Professional Services Accounting Software
Here are some additional professional services accounting software options that didn’t make it onto my shortlist, but are still worth checking out:
- Wave
Best free option for freelancers
- Clientary
Best for client invoicing
- ZarMoney
Best for customizable invoicing
- Melio
Best for bill payment processing
- Xero
Best for robust app marketplace and custom integrations
- QuickBooks Online
Best for intuitive user interface
- Sage Intacct
Best for financial visibility
- OneUp Accounting
Best for inventory tracking
- Oracle NetSuite
Best for ERP integration
- Polaris PSA
Best for resource optimization
- Sage
Best for comprehensive payroll management
Professional Services Accounting Software Selection Criteria
When selecting the best professional services accounting software to include in this list, I considered common buyer needs and pain points like project billing accuracy and ease of financial reporting. I also used the following framework to keep my evaluation structured and fair:
Core Functionality (25% of total score)
To be considered for inclusion in this list, each solution had to fulfill these common use cases:
- Invoicing and billing
- Expense tracking
- Time tracking
- Financial reporting
- Project management
Additional Standout Features (25% of total score)
To help further narrow down the competition, I also looked for unique features, such as:
- Multi-currency support
- Automated payment reminders
- Customizable dashboards
- Mobile app integration
- Advanced analytics
Usability (10% of total score)
To get a sense of the usability of each system, I considered the following:
- Intuitive user interface
- Simple navigation
- Quick access to key features
- Minimal learning curve
- Aesthetic design
Onboarding (10% of total score)
To evaluate the onboarding experience for each platform, I considered the following:
- Availability of training videos
- Interactive product tours
- Access to webinars
- Use of chatbots for guidance
- Availability of templates for setup
Customer Support (10% of total score)
To assess each software provider’s customer support services, I considered the following:
- 24/7 support availability
- Multiple contact options
- Knowledgeable support staff
- Response time for queries
- Availability of a help center
Value For Money (10% of total score)
To evaluate the value for money of each platform, I considered the following:
- Competitive pricing
- Features included at each price tier
- Flexibility in subscription plans
- Discounts for annual billing
- Free trial availability
Customer Reviews (10% of total score)
To get a sense of overall customer satisfaction, I considered the following when reading customer reviews:
- Overall satisfaction ratings
- Commonly mentioned pros and cons
- Frequency of updates and improvements
- Feedback on ease of use
- Comments on customer support experience
Trends in Professional Services Accounting Software
In my research, I sourced countless product updates, press releases, and release logs from different professional services accounting software vendors. Here are some of the emerging trends I’m keeping an eye on:
- AI-driven insights: More tools are using AI to offer predictive analytics and insights. This helps businesses forecast financial trends and make informed decisions. Vendors like QuickBooks are integrating AI to analyze data patterns for better financial planning.
- Blockchain security: Some vendors are exploring blockchain to enhance security and transparency in financial transactions. This technology ensures data integrity and helps prevent fraud. It's becoming an attractive feature for firms dealing with sensitive financial data.
- Sustainability reporting: With a growing emphasis on sustainability, there's a rise in features that track and report environmental metrics. These tools help companies align financial performance with environmental goals. Vendors are adding modules to measure carbon footprints alongside financial data.
- Remote collaboration tools: As remote work becomes the norm, accounting software is integrating features for better team collaboration. This includes shared access to financial data and virtual meetings. Vendors like Xero are enhancing tools for remote team interaction.
- Custom reporting dashboards: There's a shift towards customizable dashboards that let users tailor reports to their specific needs. This trend allows businesses to focus on the most relevant financial metrics. Vendors are offering drag-and-drop interfaces for easy customization.
What is Professional Services Accounting Software?
Professional services accounting software helps businesses manage financial tasks like invoicing, expense tracking, and financial reporting. It’s commonly used by accountants, consultants, and legal firms to make financial tasks easier and more accurate.
With features for invoicing, expense tracking, and reporting, the software supports efficient financial management and better decision-making. It also saves time and reduces manual errors, adding significant value for users.
Features of Professional Services Accounting Software
When selecting professional services accounting software, keep an eye out for the following key features:
- Invoicing and billing: Automates the process of creating and sending invoices, making it easier to manage client payments efficiently.
- Expense tracking: Helps record and categorize expenses, providing a clear overview of business spending.
- Time tracking: Monitors billable hours, ensuring accurate billing and better project management.
- Financial reporting: Generates detailed reports that offer insights into the financial health of the business.
- Project management: Assists in planning and tracking project progress, helping teams stay on budget and on schedule.
- Multi-currency support: This enables handling transactions in different currencies, which is essential for businesses dealing with international clients.
- Automated payment reminders: Sends reminders to clients for overdue payments, helping maintain cash flow.
- Customizable dashboards: Allows users to tailor their view of financial data, focusing on the most relevant metrics.
- AI-driven insights: Provides predictive analytics to help forecast financial trends and make informed decisions.
- Compliance tracking: Ensures that financial practices align with regulatory requirements, reducing the risk of non-compliance.
Benefits of Professional Services Accounting Software
Implementing professional services accounting software provides several benefits for your team and your business. Here are a few you can look forward to:
- Accuracy in billing: Ensures that invoicing and time tracking are precise, reducing errors and disputes with clients.
- Time savings: Automates repetitive tasks like expense tracking and payment reminders, freeing up time for more important work.
- Better financial insights: Offers detailed financial reporting and AI-driven insights, helping you make informed business decisions.
- Improved cash flow management: Helps maintain steady cash flow by automating invoicing and reminders for overdue payments.
- Enhanced project oversight: Provides project management tools that help track project progress and budgets, keeping everything on schedule.
- Compliance assurance: Tracks compliance with financial regulations, minimizing the risk of penalties and fines.
- Scalability: Adapts to the growing needs of your business, accommodating more users and increasing transaction volumes.
Costs and Pricing of Professional Services Accounting Software
Selecting professional services accounting software requires an understanding of the various pricing models and plans available. Costs vary based on features, team size, add-ons, and more. The table below summarizes common plans, their average prices, and typical features included in professional services accounting software solutions:
Plan Comparison Table for Professional Services Accounting Software
| Plan Type | Average Price | Common Features |
| Free Plan | $0 | Basic invoicing, expense tracking, and limited reporting. |
| Personal Plan | $5-$25/user/month | Invoicing, basic expense tracking, and limited project management. |
| Business PLan | $30-$60/user/month | Advanced invoicing, full expense tracking, project management, and financial reporting. |
| Enterprise Plan | $80-$150/user/month | Customizable dashboards, comprehensive reporting, AI insights, and compliance tracking. |
Professional Services Accounting Software FAQs
Here are some answers to common questions about professional services accounting software:
How does professional services accounting software handle multi-currency transactions?
Professional services accounting software typically includes features that allow you to manage transactions in different currencies. This is especially useful if your business deals with international clients or suppliers. The software automatically converts currencies based on current exchange rates, which helps maintain accurate financial records. You can also generate reports that reflect the currency conversions, making it easier to analyze your global financial activities.
Can professional services accounting software integrate with other business tools?
Yes, most professional services accounting software solutions can integrate with various business tools. Integrations might include CRM systems, project management tools, and payment processing platforms. These integrations help unify your business processes, allowing for better data flow and collaboration across different departments. Make sure to check the compatibility of the software with the other tools your team uses to ensure smooth integration.
What level of customer support is typically available with professional services accounting software?
Customer support levels can vary depending on the software provider and the pricing plan you choose. Typically, you can expect access to support via email, chat, or phone. Some providers offer 24/7 support, while others might limit their service hours. It’s important to consider your team’s needs and choose a plan that offers the right level of support for your business.
How do updates and upgrades work with professional services accounting software?
Most professional services accounting software solutions offer regular updates and upgrades as part of their service. These updates often include bug fixes, security patches, and new features. Updates usually happen automatically, so you don’t have to worry about manually installing them. Staying current with updates ensures your software runs smoothly and securely.
Are there any security concerns with using professional services accounting software?
Security is a vital consideration when using any accounting software. Reputable providers implement strong security measures like encryption, two-factor authentication, and regular security audits to protect your data. However, it’s crucial to stay informed about potential security risks and ensure your team follows best practices, such as using strong passwords and keeping software up to date.
Can professional services accounting software help with tax compliance?
Yes, many professional services accounting software solutions include features that assist with tax compliance. These features might include automated tax calculations, tax reporting, and reminders for filing deadlines. The software can help ensure your business adheres to tax regulations, reducing the risk of errors and penalties. Make sure the software you choose aligns with your specific tax requirements and jurisdictions.
What’s Next?
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