The growth of entrepreneurship and small business has created an increase in the demand for accounting services. Accountants are in higher demand than ever before. There is a shortage of qualified accountants because they can make more money by working for corporations or running their practices.
That’s where practice management software comes into play. This type of software automates many tasks that would otherwise be completed manually, freeing up your time so you can focus on what really matters: providing excellent service to your clients while also maximizing your profits!
I will now go through my process of selecting the best accounting software for my business needs and the best practice management software for accountants available on today’s market.
Our Top 5 Practice Management Software For Accountants
Practice Management Software For Accountants Reviews
1. Best Overall: QuickBooks Desktop Enterprise
QuickBooks Desktop Enterprise is a software application developed by Intuit Inc. It allows employees to track the things they worked on, invoice clients, track expenses, organize a workforce, and much more. This tool is easy to use and can be started for free. I recommend this program for anyone who has multiple people working in their office or needs to keep up with what each colleague is working on at once.
The program features several easy-to-use tabs. The top of the software has a menu bar where users can click on each tab to get the necessary information.
The first tab is where you can see what activities are being done, who is working on them, and the cost of each job. The next tab is where you can see how much money has been made and how much time was spent by individual employees. The third tab allows the user to track invoicing and payments made as well as any outstanding bills that need to be paid.
They also have a great tracking system for expenses, clients, vendors, and their products in this section of the software.
Pricing Plans
- Gold with remote access – $166.40/mo.
- Platinum with remote access – $197.90/mo.
- Diamond with remote access – $345.50/mo.
All Plans Include
- QuickBooks Priority Circle service.
- Expert customer support.
- Online backup data storage.
- QuickBooks product upgrades.
- Remote access.
- Inventory tracking.
- Pricing & payroll tracking.
- Tax calculation.
2. Best For Small Business: Xero
An accounting software company, Xero, has many features that make it easy to manage accounts. It offers small businesses and accountants time-saving tools for managing any size of bookkeeping work.
New account managers can easily set up their first bookkeeping records and start building their accounting methods as they become more familiar with the software.
Xero offers simplicity within a customizable platform while providing numerous tax strategies designed specifically for each business type’s needs. An easy-to-use program is a go-to tool for anyone looking to start, or run, their bookkeeping practice.
One of the best features of Xero is that it does not require any technical expertise to use to create a business record suitable for tax reporting purposes. The software was designed with the sole purpose in mind of doing bookkeeping when you least expect it simple and easy for you. Xero also provides the option of an online service where clients can access their financial records through the internet using your computer without having to leave home or the office.
Pricing Plans
- Starter – $ 20 per month.
- Standard – $ 30 per month.
- Premium – $ 40 per month.
All Plans Include
- Send invoices and quotes.
- Enter bills.
- Reconcile bank transactions.
- Capture bills and receipts with Hubdoc.
- Use multiple currencies.
3. Best For Service-based Businesses: Acuity Scheduling by Squarespace
There are many scheduling solutions for accountants that alleviate the pain of managing multiple jobs and balancing the needs of each client. Acuity Scheduling is one such solution that has been developed specifically to cater to accounting practices.
Acuity Scheduling is a time-saving online scheduling tool for accountants, which helps manage your schedule, gain more clients and bring in more revenue. It also provides you with the ability to collaborate with your staff and keep everyone up-to-date on appointments.
Acuity Scheduling Features
- Enhanced collaboration and reporting with our easy-to-use and intuitive tools.
- Personalize your schedule with different views and tools relevant to you, your clients, staff members, or practice. You can even add multiple team members and their preferences to the schedule.
Acuity Scheduling is designed for accountants who need a clear view of each appointment scheduled every day or want to present a professional calendar that helps them organize their time. Acuity Scheduling is suitable for both new accountants who want to learn time management skills as well as experienced accountants who need a way to integrate their bookkeeping software with a scheduling solution.
Pricing Plan
- Emerging – $14 per month. The free 7-day trial included.
- Growing – $23 per month. The free 7-day trial included.
- Powerhouse – $45 per month. Free 7-day trial included.
All Plans Include
- Embed scheduler into your website.
- Accept payments and deposits through Stripe, Square, or PayPal.
- Vault credit cards for charging clients later.
- Offer coupons and vouchers for discounts.
- Easy upsell clients with check-out add-ons.
- Advanced reporting about appointments, no-shows, & performance.
- Optimize your availability for maximum appointments and fewer gaps.
4. Best For Process Automation: BigTime
With BigTime, you can easily manage your business from anywhere! With this all-in-one software for accountants, you can keep track of clients, payments, taxes, activities, and more with high security. It is available as a desktop application or on the web for a monthly fee.
BigTime Features
- Invoice clients, so they pay on time – With invoice reminders and invoice reminders to make sure your clients pay on time!
- Manage your finances – Keep track of invoices and accounts receivable with financial reports that forecast cash flow.
- Manage taxes – Stay compliant by tracking tax liabilities and getting estimates based on tax law changes.
BigTime is the perfect solution for all business owners who want simple and reliable software for accounting. It’s easy to set up and use, as well as being available on the web. With BigTime, there is no need to hire an accountant or upgrade your computer hardware.
Pricing Plan
- Express – $10 per month*.
- Pro – $30 per month*.
- Premier – $40 per month*.
*Per user (minimum 5 users), billed annually.
5. Best For Streamline Workflows: Canopy
Canopy is an online and mobile accounting software that helps accountants and bookkeepers manage their business. Now you can manage your entire business without the need for separate management software and without all of the expense of a desktop program. You just need a website, an internet connection, and Canopy.
This practice management software for accountants puts the power in your hands to help manage your business from anywhere, at any time. Accountants don’t have to carry around heavy desktop programs or worry about missing deadlines because of connectivity issues.
It features a fast setup with no requirement for IT support; powerful account management with all tools in one place; secure online backup; multi-user access for teams so you can share accounts and work collaboratively; robust reporting and collaboration tools to stay on top of your game 24/7.
Canopy Features
- Accounting platform.
- Reporting tools.
- Audit tools.
- Business bank relationships manager.
- Job management module.
Pricing Plan
- FREE – $0/up to 20 contacts.
- STANDARD – $89/month, paid annually.
- PROFESSIONAL – $112/month, paid annually.
Buyer’s Guide
First, you need to know what type of practice management software you need. You want something with a relatively small learning curve and will help your business run smoothly and efficiently. A bare-bones accounting system should be enough for you to keep track of receivables, costs, income, sales, and expenses. You won’t ever need anything more complex than that.
Secondly, ask yourself if you really want to manage your business on your own or look for a service provider who provides expert assistance. There are plenty of companies that offer online business management software designed for accountants and other professionals.
What Is Practice Management Software For Accountants?
Practice management software is designed to help accountants run their business. It can do this by automating tasks or offering expert advice. You don’t have to pay a fortune, either. Practice management software for accountants can cost as little as $150 a month, which is considerably cheaper than hiring more staff.
When choosing the best accounting software solution for your business, there’s some initial setup work you need to do before even installing the software. You first need to find out what type of accounting system you will be using and whether it’s compatible with your practice management program of choice.
Practice Management Software For Accountants Benefits
Before you start to use accounting software, you need to be confident that your business will benefit from using this type of software. Your practice management system can help your company become more efficient, eliminate unnecessary duties and help you when you need it. We’ll go through the benefits of each area below:
Management Assistance
This is where the software comes in. It provides expert guidance by helping accountants know their workflow inside and out. They can get suggestions as well as new strategies for how best to grow their business. In addition, they will learn a whole new set of operations for handling transactions, which can boost profits and save time.
Streamlined Operations
Instead of using a bunch of different programs, most accounting practices will only use one. This means you can have a more streamlined business system that helps to eliminate errors and problems.
Reductions In Time Spent
By automating tasks, you’ll save yourself a lot of time over the long haul. You won’t need to spend time on paperwork, as it will all be done by your software. You can also reduce the amount of time spent on payroll or even taxes if you use an automated program.
Easy To Use
While accounting software can appear overwhelming when you initially start using it, most of the programs on the market are easy to learn and use. This makes them perfect for beginners, even those without a college degree.
How To Choose Practice Management Software For Accountants
The first and foremost consideration should be the ease with which the system can be used, as it will significantly impact your productivity. In most cases, users tend to assume that since the software is complicated, it will also be challenging to use, but this is usually not the case, rather software that is easy to use entails other problems.
Practice management software for accountants offers all the features one would expect from a good accounting tool while being much simpler to use. This is especially important when you have several users in your firm. However, as always, there are some things that you need to look out for when considering this type of system.
FAQ
What Is Practice Manager Software?
A practice management software for accountants is a type of software that helps organizations manage their business. These programs allow you to track attendance, billing, and more. Some can track marketing, advertising, and client interactions. They also feature extensive reporting capabilities for analysis purposes.
What Is The Best Practice Management Software For Accountants?
The best practice management software for accountants is QuickBooks, which offers efficient tools to manage tasks and records. It also has many integrations with accounting systems that can help to make workflow seamless.
What Is Canopy Practice Management?
Canopy is a cloud-based practice management solution to help medical practices get and stay organized – allowing providers to focus on what they do best. With the power of the cloud, notifications are always up-to-date, and user information is always secure. Canopy’s suite of tools gives you real control so you can move quickly and confidently in your industry.