Quickbooks is the Best Accounting Software for Professional Consultants

When I decided to enter the world of professional consulting in 2000, the first thing I needed was an accounting program to keep track of invoicing, accounts receivable, and business finances. 20+ years later, Quickbooks is still my accounting software solution and is one of the most important tools that I rely upon to run my business.

As a professional consultant, managing your finances and keeping track of your business expenses can be a daunting task. But with the right accounting software, this task can become much more manageable and efficient. That's where Quickbooks comes in. Widely recognized as the best accounting software for consultants, Quickbooks offers a wide range of features and tools specifically designed to meet the needs of consultants. In this blog post, we will delve into the reasons why Quickbooks is the top choice for professional consultants when it comes to managing their finances.

Unmatched Ease-of-Use and User-Friendliness

The running joke is that I majored in communications in college because I am not good with numbers! It was for this reason that I was hesitant about starting my own business. Accounting doesn't have to feel like a second language. Even if you've never so much as glanced at a ledger before, Quickbooks Online makes it a breeze to grasp. It's almost like they had professional consultants without a finance background in mind when they designed it. It’s like having a financial advisor for your business right on your desktop (or smartphone)!

But let's say you're out grabbing a coffee, and suddenly remember an invoice you need to send. No problem! The Quickbooks app lets you manage your accounts anytime, anywhere. Pull out your smartphone, tap a few buttons, and voila - your invoice is on its way to your client and you can get back to your coffee. It’s all about making your life easier and less complicated, and who wouldn’t appreciate that?

Being a consultant can be stressful enough so if you're looking for accounting software that allows you to manage your finances without adding to your stress levels, Quickbooks is definitely the way to go.

Ease of Invoicing and Accounts Receivable Tracking

Such a critical part of doing business, but while invoicing can be a real pain, Quickbooks makes it simple. Its invoicing system lets you whip up professional invoices in no time. This means less time on paperwork and more time to spend on what you do best - consulting.

And what about keeping tabs on those client payments? We’ve all had those clients who need a little extra nudge to part with their money. Quickbooks is here to help with that too. Its accounts receivable feature gives you a clear picture of who owes what, so you can always be on top of your game. No more sifting through piles of papers or excel sheets - all the information you need is right at your fingertips.

So, if you've been losing sleep over invoicing and tracking payments, take a deep breath. Quickbooks has got you covered. It's not just about making the process faster and easier, but also ensuring you never miss out on money that's rightfully yours.

Robust Project Cost Tracking

Ever had one of those ‘oh snap’ moments where you realized your project costs have spiraled out of control? Yeah, not fun. Quickbooks has this super handy feature that lets you keep an eye on every expense and billable hour for each project. You’ll know exactly where every penny is going. Not just the big stuff, but even those sneaky little expenses that have a way of creeping up on you. Plus, you can link expenses to specific projects, making it a cinch to see where your money’s flowing. Now you can be sure that your projects are not just successful, but also profitable. So, no more nasty financial surprises.

Accurate and Reliable Financial Data

You know what they say, "Garbage in, garbage out." If you're working with inaccurate financial data, you're bound to make flawed decisions. Quickbooks always gets it right, giving you up-to-the-minute, reliable financial data that you can count on. This means you can leave the guesswork behind and make decisions based on real, solid data. So, whether you're crunching numbers for your next big project or deciding whether to splurge on that fancy new office chair, you know you're making a well-informed decision.

Real-time Business Reports and Insights

The ability of Quickbooks Online to provide real-time business reports has been a huge time saver, especially when financial advisors or bankers have needed quick reports on the financial performance and status of my business. At the click of a button, you have access to a variety of reports such as Profit & Loss (P&L), balance sheets, and cash flow statements. This demonstrates Quickbooks' impressive balance between user-friendly navigation and comprehensive features.

What’s super awesome is that all this information is presented in an easy-to-understand format. Even if you’re not a financial whiz, you’ll get the full picture. It’s like having your own business story narrated to you in numbers, showing you where you’re making money, where you’re spending it, and how your cash is flowing.

And the insights? They’re like little nuggets of financial wisdom, helping you make sense of your numbers. Think of them as the 'Aha!' moments that can guide your decision-making process. Maybe you’ll discover that one service category is more profitable than you thought, or perhaps you’ll find out that a particular expense is eating into your profits more than you realized. Either way, you’re gaining valuable knowledge that can help you fine-tune your business strategy and boost your profitability.

And remember, all of this is happening within Quickbooks. No need to import data into a separate tool or hire a data analyst to make sense of complex spreadsheets. It’s like having your own financial command center, right at your fingertips.

At-A-Glance Financial Status

The Quickbooks Dashboard gives you a bird's eye view of your business's financial status. Whether you want to take action on accounts, manage invoices, or just get a quick financial pulse-check, the dashboard has got you covered. With just a glance, you can spot financial trends, check on overdue invoices, and monitor cash flow, all in real-time. I rely on my Business Overview dashboard to give me real-time status of all of my bank accounts, expenses, income, and sales statistics. The ability to look at a single dashboard in Quickbooks and view the status of all of my business financial data is a major time-saver and an indispensable management tool!

A Time-Saver at Tax Time

Using Quickbooks as the primary accounting and project management solution for my consultant business saves me a ton of time when it comes to tax time each year. I simply give my accountant access to my Quickbooks account and he has most or all of the information he needs to complete my state and federal tax filings, greatly reducing my need to focus on tax preparation and allowing me to dedicate my time and energy on providing my clients with the highest level of attention and service!

Dedicated Support and Resources

In my experience, Quickbooks just works and works well. In the few times over the years that I've had to contact the Quickbooks support team for assistance, their team has been quick to respond and resolve my issues. Their customer support is always at the ready, eager to help you navigate any issue you might come across.

However, I'm one of those DIY people that only asks for help when ABSOLUTELY necessary! Quickbooks is simple and intuitive to use, but when they've got a treasure trove of tutorials and guides that are available to assist whenever you need them - even in the middle of the night when a lot of us consultants get a lot of our work done.

Give Quickbooks a Try - You Have Everything to Gain!

Quickbooks has been the primary solution for managing the financial and operational aspects of my consulting business for over 20 years. I have looked at other accounting solutions over the years, but when something's not broke, you don't try to fix it. The features and benefits mentioned above have given me full visibility and control over my business finances and operations and will continue to do so well into the foreseeable future!

Check out Quickbooks for yourself and use my referral link to receive 30% off the first 6 months of your subscription!