Last Updated September 4, 2023
Accounting practice management software handles all the operations, inside out, for firms that provide accounting services. When choosing a practice management software, you need to factor in a few considerations that an accounting software must-have. These include personalized workflows, sending invoices to clients, tracking employee work time, monitoring progress, and increased collaboration. The best practice management software will have all these features along with the best customer service, pricing, and mobile apps.
Here is the 7 best accounting practice management software:
- Jetpack Workflow: Best for basic workflow automation
- QuickBooks Online Accountant: Best for managing QuickBooks Online clients
- OfficeTools WorkSpace: Best overall accounting practice management software
- Xero Practice Manager: Best for managing Xero clients
- TaxWorkFlow: Best for managing tax processes for clients
- Sage Business Cloud Financials: Best for tracking profitability by client or project
- My CPA Dashboard: Best overall accounting practice management software
Jetpack Workflow is an accounting practice management software that provides a great mix of features along with reasonable pricing that gives your small accounting firm maximum value for its investment. It provides a 360 transparency on everything going on in the firm, increasing productivity and offering a central platform to manage all the processes, helping the accountants and bookkeepers ensure that the most important tasks are identified and completed efficiently. Jetpack Workflow provides support and training helping the management of the team with ease.
- Report generation
- Robust integration with QuickBooks Online, Zapier, etc.
- Unlimited jobs, clients, and documents
- Transparent pricing structure
- Integration with more than 3000 apps
- Project management offers
- No client portal
- No CRM features
- No mobile app
- No customizable reports
- Inability to update templates for assigned tasks
Jetpack Workflow offers three service packages that include self-guided, Kickstarter starting at $299, and Done for you starting at $1299.
The plans offered are:
- Organize: $45 per user per month and $36 when billed annually
- Scale: $50 per user per month and $39 when billed annually
QuickBooks Online accountant is one of the best practice management software that allows accountants to access their clients’ books online and share them. It provides remote access to files in real-time. It also has automation features that are supported by artificial intelligence. It helps improve the firms’ efficiency by showing the key trends based on client data, financial ratios, and performance indicators.
- Simple and easy to use visual interface
- Interactive tutorials
- Third-party integrations
- Tracking of projects across multiple clients
- Client portals
- Free subscription to QuickBooks Advanced
- No CRM
- Not compatible with QuickBooks desktop
- No document management features
- When employees time is written off of a project, the realization percentage isn’t calculated
QuickBooks Online Accountant offers free subscriptions for accountants and bookkeepers.
OfficeTools WorkSpace is a very comprehensive practice management software for accountants and tax professionals. It is an easy-to-use software that provides streamlined workflow, time and billing features, due date reporting, contact management, scheduling, and document management. It helps in the consolidation of databases and can efficiently track all necessary data. This software is the best choice for accounting firms that require a comprehensive solution for all their accounting needs, especially with integrations with software like QuickBooks, Lacerte, etc.
- Offers 24/7 live rep support
- Integrations with Lacerte, Office 365, and QuickBooks
- Offers time tracking
- Offers staff management
- Client portal available
- Offers document management
- Allowing management of everything from a single screen
- No free trial allowed
- Expensive for firms with multiple users
- Difficult to master
- No dedicated app for mobile and Mac
OfficeTools Cloud can be subscribed for $49 per month, per user whereas you have to request a custom quote for the OfficeTools WorkSpace.
Xero helps simplify day-to-day business tasks by streamlining the management of client tasks, timesheets, invoicing, and practice workflows. This software includes a number of quality features that lets you assign work to the team, track and bill time, sync with banks, create customized esports and allow integrations with other apps. It allows you to access accounting data remotely, from anywhere in the world. This software can also provide useful insight into the firm profitability by generating performance metrics.
- 24/7 live rep support
- Time and billing features
- Ability to assign tasks with due dates
- Third-party integrations
- Portal to client books
- Free for silver, gold, and platinum members
- Mobile app with various features
- Offers project management
- No stand-alone desktop
- Lack of tools for efficient accountants
- Expensive for new and Bronze members
- No telephone support
- Collaboration within the software
The software provides three pricing plans:
- Early starting at $12 per month
- Growing starting at $34 per month
- Established starting at $65 per month
There is no charge once you reach the silver, gold, or platinum partner status. It offers a 30-day free trial to see if your accounting firm needs its services.
TaxWorkFlow is the best practice management software for accountants and firms that provide ongoing services that include monthly bank statement reconciliation, annual tax returns, and compilation of financial statements. It is one of the most ideal solutions for firms that look beyond standard accounting practices. It has the flexibility to create a variety of reports from scratch as well as provide the option of saving them as templates. It can help analyze the profitability of both the clients as well as employees with its time and project tracking feature.
- Mobile apps
- Client portal
- CRM functionality including email marketing campaigns
- Collaboration with clients using an integrated calendar
- Robust integrations
- Due date list
- No free trial offered
- No monthly subscription is available
- No direct access to the clients’ books
- No integrated bookkeeping software
The software is available at a flat annual fee of $1500 that includes unlimited access to all the features and free support, as well as unlimited users.
Sage Business accounting is one of the best accounting practice management software on the market. It is a global brand that provides online accounting and business services. It is a portal for CPAs that were made to develop estimation and provide accounting services for small businesses. Sage can be used for accounts receivable, payable, and invoicing. This software makes it easier to run your firm’s financials by offering an integrated accounting system with a real-time overview of your finances as well as instant synchronization with mobile apps and banks.
- Mobile apps for both Android and iOS
- Generation of reports
- Robust integrations
- Financial institution integration with apps like AutoEntry and Zync etc.
- Forecast cash flow
- Dashboard view provides easy to read financial reports and analysis
- Shared access using real-time on any device
- No client portals
- No project management
The software pricing plan starts at $3 per month for accounting start and for accounting starts at $7 per month. It offers a free trial for firms that require a demo first.
My CPA Dashboard is one of the best practice management software that is used by small and large firms alike. The working framework of this management software is extremely straightforward, ensuring maximum productivity by accountants. My CPA Dashboard allows scheduling of tasks, tracking, invoicing, and coordinating with multiple clients and contacts with archives in one place. It is cloud-based accounting software that provides mobile access too. My CPA Dashboard allows you to use all the features without even having the premium package.
- Task management
- Multiple user interfaces
- Branded client portal
- Phone and email support
- eSignature integration
- Online document storage
- Secure file sharing
- Might be a little expensive for smaller firms
My CPA Dashboard offers four different pricing plans which are:
- Starter which costs $49 per month with up to 25 business clients and unlimited users
- Small starting at $89 per month with up to 50 business clients
- Medium starting at $239 per month with up to 350 business clients
- Enterprise starting at $499 per month with more than 350 clients
My CPA Dashboard also offers a 30-day free trial.
Accounting practice software ensures that the firms’ financials are managed efficiently, and also ensures that the business processes are automated, and clients are billed and timed accordingly. The best accounting practice management software is one that suits all your custom needs and should have the essential features including:
- Client portal
- CRM tools
- Time and Billing
- Workflow Management
- Affordable pricing