If you are a service provider, chances are you need to keep track of your finances. You may also need to invoice for services rendered and make sure the customer pays before moving on to the next project. There is an abundance of tools out there that can help with this process from invoicing software, accounting software, or even just a spreadsheet program. In order to narrow down these choices we have compiled a list of 6 best accounting and invoicing tools for IT businesses in 2021.
This blog post will walk through each one briefly so you know what they’re capable of doing and how they differ from others on our list.
1. ConnectBooster
ConnectBooster is a cloud accounting software which works on both Mac and Windows. It was designed specifically with the needs of creative freelancers in mind. ConnectBooster has a lot of features including timesheets, invoicing, estimates/orders/invoices matching, expenses, bank reconciliation and much more.
Some of its notable features are:
Inbox – Stores emails from customers without you having to leave ConnectBooster.
Expenses – Track and categorize your expenses using the app for easy tracking. Receipts can be attached right from your smart device.
Favorites – Have a steady workflow? Mark certain tasks, contacts or expenses as favorites to get back to them quickly.
Reports – View detailed hourly reports on how much time is spent on which projects so you can update clients accordingly and have an idea of what to charge them in the future. Even more, see which tasks took up most of your time so you can streamline things better next time around!
ConnectBooster is also designed for freelancers because of features like time tracking, invoicing, estimates/orders/invoices matching, expenses, bank reconciliation and much more.
2. Freshbooks Cloud Accounting
Freshbooks is a cloud accounting software that offers invoicing, estimates/orders/invoices matching and reporting, bank reconciliation, expenses and project management. This software is great for small businesses or startups who have trouble keeping track of their account books.
Some of its notable features are:
Workflow – Work with multiple clients at once by creating a workflow within each project you work on. Have a steady workflow? Mark certain tasks as favorites so you can get back to them quickly next time around.
Estimates/Invoices – Keep track of all your estimates and invoices from one place right from the Freshbook dashboard. No need to worry about losing anything because it’s all saved in your Freshbooks account.
Projects – See how much time and money you spent on a specific project and get an idea of the fees to charge your client in the future. It’s the perfect way to streamline things for yourself.
Reporting – View detailed hourly reports on how much time is spent on each project so you can update your clients accordingly.
Freshbooks is great for small businesses or startups who do not have the time or expertise to manage their own accounting software.
3. Intuit QuickBooks
QuickBooks is a great accounting tool for small businesses looking for simple, cost-effective accounting software that can update bank records automatically. It’s known as one of the top players in the market due to its capabilities such as invoicing, accounts payable/receivable, estimates/orders/invoices matching, general ledger and so much more.
Some of its notable features are:
Advanced Inventory – Track inventory levels and pricing across multiple locations with ease and control stock levels by reordering or transferring inventory between locations.
Mobile Access – Make changes on the go, whether it be adding an expense or even editing received payments right from your mobile device.
Reporting Dashboard – Quickly generate useful reports that can help you stay on top of your accounts and see how you’re doing financially in real time.
The latest version of QuickBooks makes it even easier to move seamlessly between your phone, tablet and computer without losing any data. Not only that, but you can access important information like invoices or financial reports even when you’re offline.
This is just one of the many reasons why people choose QuickBooks over other accounting tools because there’s always something new to look forward to, whether it be new features or enhancements that continually improve productivity.
QuickBooks is great for small businesses because it offers simple, cost-effective accounting software that can update bank records automatically.
4. Wise-Sync
Wise-Sync is a cloud accounting tool with invoicing capabilities designed specifically for professional services businesses like IT contractors or engineers who charge customers an hourly rate for their work rather than billing them per project. Its features include time tracking, invoice generation, expense management and more.
Some notable features are:
Expense Tracking – Track business expenses on the go with ease and make note of them in your Wise-Sync account for easy tracking.
Invoicing – Send invoices right from your mobile device to customers, even when you’re on the move or out of the office.
Projects Lane – View time spent on different projects so you can get back to your clients with an accurate quote for new work next time around.
Time Tracking – Track time down to the minute using Wise-Sync’s timer function while working on a project so you can easily keep track of how much time is being spent on each activity.
Wise-Sync also offers cloud accounting software features like bank reconciliation, estimates/orders/invoices matching and real-time dashboards that allow you to see how you’re doing financially in real time.
5. Xero
Xero is a popular cloud accounting tool designed for small businesses and companies with invoicing capabilities. It’s one of the top players in the market due to its features such as bank reconciliation, expense tracking, invoice generation and more.
Some notable features are:
Expense Tracking – Get accurate expenses so you can easily track them via your mobile device while on the go.
Improved Invoice Generation – Customize invoices to make sure they meet your clients’ needs by adding logos or images straight from your device without needing to use any third party software or services.
Invoicing – Send invoices to customers straight from your device when you’re on the go.
Xero also offers time tracking, bank reconciliation and more in their cloud accounting software package for small businesses.
6. Zoho Books
Zoho is a popular cloud-based platform that aims to provide free business management solutions for companies of all sizes with features like billing capabilities, purchase orders, estimates/invoices matching and real-time dashboards for increased visibility.
Some notable features are:
Bill Management – Prepare bills for customers so they can quickly pay them right from their devices via wire transfer or credit card within minutes without any complications or interference with third party providers.
Invoice Management – Send invoices to customers from your device while on the go.
Expensing – Get back up and running on expenses quickly with Zoho’s expense management software capabilities.
Real-time Dashboards – View how the business is doing financially in real time and quickly identify where problems may be arising.
Zoho also offers time tracking, customer management, purchase order generation and more in their cloud-based platform for businesses looking to improve efficiency while staying productive wherever they are.
Conclusion
There are a lot of tools out there that businesses can use to manage their accounting and invoicing processes. But, when it comes down to it, the best ones will offer the user features such as time tracking capabilities, expense management, invoice generation and more so they can easily keep track of how much work is being done for each customer.
The following list features some of the best accounting and invoicing tools available for businesses on the market today. Each product has its own unique and innovative capabilities that sets it apart from the pack and makes it a great cloud-based platform for businesses of all sizes to use, so it’s up to the business owner to decide which one fits best for their needs.
