9 best invoicing software for consultants: Features and pricing

9 best invoicing software for consultants

1. Moon Invoice

Trusted by 1.7M+ global businesses, this easy-to-use invoicing software is ideal for freelancers and small businesses. The platform offers 66+ customizable templates to create unlimited estimates, invoices, and receipts. This AI-powered tool offers features like quick scanning and AI-powered contact and payment recording to reduce manual work and improve accuracy.

Professionals can manage billing and accounting tasks in a single platform. From issuing invoices to accepting final payments, it streamlines the entire process. The support team is available 24/7 via call, email, WhatsApp, and chat. It also offers a help center and a tool to schedule demos.

What makes it ideal for consultants?

• Dedicated project management feature
• Tracking billable hours to issue accurate invoices per hourly rate
• Direct estimate-to-invoice conversion in one click
• Record, track, and manage expenses and recurring expenses in one platform
• Record payments to keep the right track
• Set up recurring billing for ongoing services
• Supports project-based and hourly billing
• Customer and vendor management
• Supports 15+ business reports to get financial insights

Pros

• Simple and user-friendly interface
• Offers AI features that simplify tasks
• Supports 20+ payment integrations
• Supports multilingual and multicurrencies
• Simplified financial management
• Reduce administrative workload

Cons

• Due to advanced features, it may require time to set up

Pricing (billed annually)

• Starter – $6.67 per month
• Standard – $8.33 per month
• Premium – $12.50 per month
• Enterprise – $16.67 per month

Platform availability

• Android
• iOS
• MacOS
• Windows
• Web App

2. FreshBooks

FreshBooks is another top invoicing software that helps businesses simplify their billing. Like Moon Invoice, it lets you create estimates and invoices using templates. Additionally, it offers auto-billing, secure payment acceptance, and auto-reminders for outstanding balances.

What makes it ideal for consultants?

• Flexible project billing
• Built-in time tracking to identify billable hours
• Easy setting up of recurring billing
• Recording and tracking of business expenses
• Proposal and estimate creation within the platform
• Mileage tracking for professionals who travel to client locations

Pros

• Built-in time tracking
• Expense and mileage tracking
• Project profitability tracking
• Easy billing and payment collection

Cons

• May not be ideal for complex businesses
• Some advanced features are available on higher plans only
• Payment processing fees apply

Pricing

• Lite – $248.40 per year
• Plus – $464.40 per year
• Premium – $756.00 per year

Platform availability

• Android
• iOS
• Web App

3. Ramp

Ramp is another popular tool on this list of best invoicing software for consultants, streamlining billing actions for businesses. It is especially useful for businesses that want to automate expense management, control employee spending, and simplify accounts receivable.

What makes it ideal for consultants?

• It allows you to draft invoices with AI
• Tracking expenses in real time
• Easy setting up recurring billing
• Employee spending controls
• Strong expense management

Pros

• Automates invoice creation
• Offers third-party integrations
• This tool is useful for growing companies
• Automates receipt matching that reduces manual work

Cons

• Lack of tracking billable hours
• Its geographic availability is restricted to many regions
• Customer support options are limited

Pricing

• Free – $0
• Plus – $15/mo/user
• Enterprise – Contact sales

Platform availability

• Android
• iOS
• Web App

4. QuickBooks Online

QuickBooks Online is especially useful for independent consultants and relevant firms that look for invoicing and accounting in one platform. This time-tracking and billing software for consultants is easy to use and includes all essential features.

What makes it ideal for consultants?

• Billable hours time tracking
• Managing and tracking project progress
• Setting up recurring invoices
• Expense tracking and billable expenses
• It offers automatic invoicing
• Allows you to connect a bank account to simplify bookkeeping

Pros

• It offers AI features that reduce manual effort
• The software helps to manage and track expenses
• Automates billing through recurring invoices
• Offers bank integration to simplify reconciliation

Cons

• It includes a learning curve for beginners
• Inventory management is quite basic
• It is not ideal for simple invoicing needs

Pricing

• Simple start – $19 per month
• Essentials – $42.50 per month
• Plus – $70 per month
• Advanced – $170 per month

Platform availability

• Windows
• Mac
• Web browser
• iOS
• Android

5. Zoho Invoice

If you are concerned about budget, then Zoho Invoice can be a good choice. This free consulting invoice software offers a solid invoicing solution, including creating estimates and invoices, managing expenses, and handling client billing. It is part of the Zoho ecosystem that offers a range of business tools.

What makes it ideal for consultants?

• Allows you to schedule recurring invoices
• Easy classification of business expenses
• Conversion of billable expenses to invoices
• Tracking working hours of the projects
• Setting up payment reminders for unpaid invoices
• Exploring financial reports

Pros

• It’s free to use, making it ideal for small businesses
• Billable time tracking
• Easy expense tracking
• Automated payment reminders
• Easy insights into sales and outstanding invoices
• Supports various payment options

Cons

• Scalability is quite limited
• Limited subscription management
• Includes learning curves
• The payment gateway may vary as per region

Pricing

• Free plan

Platform availability

• Windows
• Android
• iOS
• Web app

6. Xero

Xero is cloud-based time-tracking and billing software for consultants that helps to create invoices, track billable hours, and manage expenses. It is a good tool for consultants who need invoicing and broader accounting tools to handle business finances.

What makes it ideal for consultants?

• Easy invoice creation
• Tracking project time and cost
• Easily preparing and sending estimates and quotes
• Financial report analysis
• Bank reconciliation to match bank transactions with accounting records
• Supports multiple currencies for international deals

Pros

• Record business expenses
• Bank reconciliation
• Access reports to monitor business performance
• It offers third-party integration
• Easy project cost tracking

Cons

• Consultants need to learn this platform
• There is no dedicated phone support
• Additional cost may apply
• Limited invoice customization

Pricing

• Starter – $5.40 per month (for the first 3 months, then $27 per month)
• Standard – $11.80 per month (for the first 3 months, then $59 per month)
• Premium – $19.40 per month (for the first 3 months, then $97 per month)

Platform availability

• Windows
• macOS
• Linux
• Android
• iOS

7. Wave

Wave is another cloud-based invoicing software for consultants designed for small businesses and freelancers. It is easy, straightforward invoicing software that helps professionals create invoices, track payments, manage expenses, and handle financial reporting.

What makes it ideal for consultants?

• Online payment collection to boost cash flow
• Automating billing through recurring invoicing
• Systematically recording and tracking business expenses
• Sending payment reminders to the client for outstanding billing

Pros

• Simple and easy to use
• Allows tracking expenses
• Easy setting up of recurring billing
• Supports payment reminder
• Combines invoicing with bookkeeping
• Free invoicing plan

Cons

• No built-in inventory management system
• It is geographically limited to the USA and Canada
• Limited payment methods
• Lack of built-in time tracking system
• No dedicated project management

Pricing (billed annually)

• Starter plan – Free
• Pro plan – $190 per year

Platform availability

• Android
• iOS
• Web browser

8. Bonsai

Bonsai offers a range of billing solutions essential for freelancers and consultants. It lets you create professional estimates and invoices, manage projects and client tasks, and track billable hours. This invoicing software for consultants offers financial and reporting tools to track payments and expenses.

What makes it ideal for consultants?

• Auto billing with easy setting up of recurring invoices
• Supports third-party integrations that reduce workload
• Estimate templates that support faster estimate creation
• Easy payment acceptance through credit cards and bank payments

Pros

• Helps to track accurate billable hours
• Combines estimates and invoicing in one platform
• Easy task assignment within the team
• It supports recurring invoicing and payment reminders

Cons

• May not fit well for those looking for a basic invoicing solution
• Advanced customization options may be limited
• Availability of features may vary depending on the regions
• The entry-level plan excludes basic features such as invoicing and contracts

Pricing (billed annually)

• Basic – $9/user/month
• Essentials – $19/user/month
• Premium – $29/user/month
• Elite – $49/user/month

Platform availability

• Android
• iOS
• macOS apps
• Web browser

9. Sage

Sage is another AI-powered accounting and invoicing software, designed for freelancers and small business professionals. They can easily create invoices, track payment flow, and expenses. Sage is quite ideal for small businesses, growing consulting firms, and other service-based companies.

What makes it ideal for consultants?

• It helps to track project costs
• Invoice creation and monitoring outstanding payments
• Easy recording of billable hours
• The tool offers scalability
• Financial reporting to track expenses and revenue

Pros

• Offers detailed financial reporting
• It helps to track expenses
• Scalable solution for growing businesses
• It supports bank reconciliation

Cons

• It may be complex for those who seek simple invoicing
• Some features may vary depending on the region
• Advanced features are available on higher plans

Pricing

• Pro accounting – $1,448 per year
• Premium accounting – $1,947 per year
• Quantum accounting – $2,841 per year

Platform availability

• Android
• iOS
• Web browser
• Windows
• macOS

Disclaimer: The above prices are based on the current information available on their website, which may change.

Why do consultants need invoicing software?

Consultants often handle multiple clients and their projects. Doing this manually can be time-consuming and error-prone. Therefore, invoicing software helps consultants manage projects, billing, and other tasks faster and more accurately. Additionally, the software offers the following advantages:

• Quickly generating professional invoices.
• Recording consulting time and converting it to invoices
• Set recurring billing and payment reminders to boost cash flow
• Automate various billing actions to reduce administrative tasks
• Record and manage business expenses systematically
• Maintain organized income and expenses to streamline the tax filing process

How to choose the best invoicing software as a consultant?

Choosing the best invoicing software depends on the individual consulting business needs. Factors include the business’s billing model, client volume, and budget. However, the basic necessary features that one must look for are as follows:

Estimate and invoice template

The tool must offer customizable templates for estimates and invoices. This reduces the need to create documents from scratch, saves time, and produces clean, professional results.

CRM and Project management

An invoicing tool must possess client and project management features if the consultant handles multiple clients. This helps record client data, manage contracts, and monitor billable hours accurately. However, solo consultants with simple billing needs may not need a full project management solution.

Check billable hours

Tracking billable hours is crucial for consultants who manage client projects and charge hourly rates. This helps ensure accurate invoicing while reducing the chance of errors.

Expense tracking

Consultants often incur various expenditures such as travel, software, and more. Choose software that makes it easy to record and track business expenses.

Compare pricing and scalability

When choosing software, compare pricing and subscription plans. This helps you determine whether the tool fits your budget. Also, look for scalability so you can keep the same services as your business grows and takes on more clients.

Closing thoughts

Consultants can improve their billing with invoicing software. It streamlines daily operations by enabling easy invoice creation, recurring invoices, and other billing tasks. However, the best software depends on your business requirements. Choose the right tool after reviewing requirements, features, and pricing, because the right selection can significantly improve your overall workflow.

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