Quick Overview
- 1#1: QuickBooks Online - Cloud-based accounting software offering invoicing, expense tracking, payroll, and financial reporting for small practices and businesses.
- 2#2: Xero - User-friendly cloud accounting platform with bank reconciliation, multi-currency support, and project tracking ideal for practices.
- 3#3: FreshBooks - Simplified invoicing and time-tracking accounting tool designed for service-based practices and freelancers.
- 4#4: Zoho Books - Affordable online accounting software integrated with CRM, inventory, and automation for growing practices.
- 5#5: Wave - Free accounting solution providing invoicing, receipt scanning, and basic bookkeeping for small practices.
- 6#6: Sage Intacct - Scalable cloud financial management system with advanced reporting and multi-entity support for mid-sized practices.
- 7#7: NetSuite - Comprehensive ERP platform including robust accounting, inventory, and analytics for larger practices.
- 8#8: Bill.com - Automated AP/AR software that streamlines bill payments, approvals, and syncs with accounting systems for practices.
- 9#9: Expensify - Expense management tool for smart scanning, reporting, and reimbursement integration with practice accounting software.
- 10#10: Avalara - Automated tax compliance solution handling sales tax calculations, filing, and remittances for accounting practices.
These tools were selected based on robust evaluation of features, user-friendliness, scalability, and value, ensuring they deliver reliable performance and adapt to evolving demands of modern practice management.
Comparison Table
This comparison table examines popular practice accounting software, such as QuickBooks Online, Xero, FreshBooks, Zoho Books, Wave, and more, to guide users in selecting the right tool for their business needs. Readers will find details on key features, usability, pricing, and unique advantages of each platform, enabling informed decisions about efficient financial management.
| # | Tool | Category | Overall | Features | Ease of Use | Value |
|---|---|---|---|---|---|---|
| 1 | QuickBooks Online Cloud-based accounting software offering invoicing, expense tracking, payroll, and financial reporting for small practices and businesses. | enterprise | 9.2/10 | 9.5/10 | 8.8/10 | 8.5/10 |
| 2 | Xero User-friendly cloud accounting platform with bank reconciliation, multi-currency support, and project tracking ideal for practices. | enterprise | 9.3/10 | 9.5/10 | 9.2/10 | 8.9/10 |
| 3 | FreshBooks Simplified invoicing and time-tracking accounting tool designed for service-based practices and freelancers. | specialized | 8.2/10 | 8.0/10 | 9.4/10 | 7.6/10 |
| 4 | Zoho Books Affordable online accounting software integrated with CRM, inventory, and automation for growing practices. | enterprise | 8.7/10 | 8.9/10 | 9.1/10 | 9.4/10 |
| 5 | Wave Free accounting solution providing invoicing, receipt scanning, and basic bookkeeping for small practices. | other | 8.1/10 | 7.4/10 | 9.2/10 | 9.5/10 |
| 6 | Sage Intacct Scalable cloud financial management system with advanced reporting and multi-entity support for mid-sized practices. | enterprise | 8.4/10 | 9.2/10 | 7.5/10 | 7.8/10 |
| 7 | NetSuite Comprehensive ERP platform including robust accounting, inventory, and analytics for larger practices. | enterprise | 8.5/10 | 9.4/10 | 7.2/10 | 7.8/10 |
| 8 | Bill.com Automated AP/AR software that streamlines bill payments, approvals, and syncs with accounting systems for practices. | specialized | 8.1/10 | 8.7/10 | 7.9/10 | 7.6/10 |
| 9 | Expensify Expense management tool for smart scanning, reporting, and reimbursement integration with practice accounting software. | specialized | 8.1/10 | 8.7/10 | 9.2/10 | 7.4/10 |
| 10 | Avalara Automated tax compliance solution handling sales tax calculations, filing, and remittances for accounting practices. | specialized | 8.1/10 | 9.2/10 | 7.4/10 | 7.6/10 |
Cloud-based accounting software offering invoicing, expense tracking, payroll, and financial reporting for small practices and businesses.
User-friendly cloud accounting platform with bank reconciliation, multi-currency support, and project tracking ideal for practices.
Simplified invoicing and time-tracking accounting tool designed for service-based practices and freelancers.
Affordable online accounting software integrated with CRM, inventory, and automation for growing practices.
Free accounting solution providing invoicing, receipt scanning, and basic bookkeeping for small practices.
Scalable cloud financial management system with advanced reporting and multi-entity support for mid-sized practices.
Comprehensive ERP platform including robust accounting, inventory, and analytics for larger practices.
Automated AP/AR software that streamlines bill payments, approvals, and syncs with accounting systems for practices.
Expense management tool for smart scanning, reporting, and reimbursement integration with practice accounting software.
Automated tax compliance solution handling sales tax calculations, filing, and remittances for accounting practices.
QuickBooks Online
enterpriseCloud-based accounting software offering invoicing, expense tracking, payroll, and financial reporting for small practices and businesses.
Progress invoicing, which allows practices to bill clients incrementally for services rendered over time, with automated reminders and payments.
QuickBooks Online is a cloud-based accounting platform from Intuit, tailored for small to medium-sized businesses including professional practices like medical, legal, and dental offices. It provides essential tools for invoicing clients, tracking expenses, managing payroll, generating financial reports, and handling tax compliance. With real-time collaboration features and mobile access, it streamlines practice management by automating bookkeeping and integrating with practice-specific apps for seamless workflows.
Pros
- Comprehensive features like automated invoicing, bill pay, and payroll integration tailored for service-based practices
- Extensive app marketplace with 750+ integrations for practice management tools (e.g., law or medical software)
- Real-time dashboards and customizable reports for quick financial insights and compliance
Cons
- Higher-tier plans can become expensive for smaller practices with basic needs
- Initial learning curve for advanced features like custom rules and inventory
- Customer support can be inconsistent, relying heavily on self-help resources
Best For
Professional practices such as law firms, medical clinics, and accounting offices needing scalable, cloud-based accounting with strong automation and integrations.
Pricing
Starts at $30/month (Simple Start) up to $200/month (Advanced); annual plans offer 50% off first 3 months, plus add-ons for payroll ($45+/month).
Xero
enterpriseUser-friendly cloud accounting platform with bank reconciliation, multi-currency support, and project tracking ideal for practices.
Unlimited users and advisor multi-org management from a single dashboard
Xero is a cloud-based accounting software tailored for small businesses and accounting practices, providing tools for invoicing, bank reconciliation, expense tracking, payroll, and financial reporting. It supports multi-client management through advisor dashboards, allowing practices to oversee multiple organizations seamlessly with real-time collaboration. Extensive integrations via a vast app marketplace and automation features like bank rules make it highly efficient for professional use.
Pros
- Unlimited users on all plans, perfect for team-based practices
- Automated bank feeds and reconciliation from thousands of institutions
- Robust integrations with 1,000+ apps including Hubdoc for document automation
Cons
- Payroll functionality limited to select countries
- Advanced plans can become expensive for high-volume practices
- Steeper learning curve for complex multi-entity setups
Best For
Small to medium accounting practices and bookkeepers managing multiple SMB clients with a need for scalable, collaborative cloud accounting.
Pricing
Starts at $15 USD/month (Early plan) for basics, $42 (Growing) for automation, $78 (Established) for advanced features like projects and multi-currency; unlimited users, billed monthly or annually with discounts.
FreshBooks
specializedSimplified invoicing and time-tracking accounting tool designed for service-based practices and freelancers.
Customizable, mobile-optimized invoices with built-in payment reminders and client approval portals
FreshBooks is a cloud-based accounting software tailored for small businesses, freelancers, and service-based practices, offering streamlined invoicing, time tracking, expense management, and basic bookkeeping. It enables users to create professional invoices, accept online payments via credit card or ACH, track billable hours, and generate essential financial reports. While not designed for complex enterprise needs, it simplifies practice accounting for solopreneurs and small teams with client-focused workflows.
Pros
- Intuitive, beginner-friendly interface
- Powerful invoicing with automation and recurring billing
- Integrated time tracking and client portals
Cons
- Pricing scales up quickly with client volume limits
- Lacks advanced features like inventory or job costing
- Reporting is basic compared to full accounting suites
Best For
Freelancers and small service practices needing simple, client-centric invoicing and time tracking without deep accounting complexity.
Pricing
Lite: $19/mo (5 clients); Plus: $38/mo (50 clients); Premium: $70/mo (unlimited clients); Select: custom pricing (annual billing discounts available).
Zoho Books
enterpriseAffordable online accounting software integrated with CRM, inventory, and automation for growing practices.
Client portal enabling customers to view invoices, make payments, and track expenses independently
Zoho Books is a cloud-based accounting platform tailored for small to medium-sized businesses, including professional practices, offering robust invoicing, expense tracking, bank reconciliation, and financial reporting. It excels in multi-currency support, time tracking, and project-based billing, making it suitable for service-oriented practices like law firms or consultancies. The software integrates seamlessly with the Zoho ecosystem and third-party apps for enhanced workflow automation.
Pros
- Affordable pricing with a free tier for small practices
- Intuitive interface and strong mobile app support
- Excellent client portal for self-service invoicing and payments
Cons
- Advanced reporting requires higher-tier plans
- Customer support can be slower for non-premium users
- Limited customization in inventory management for complex practices
Best For
Small professional practices and service-based firms seeking scalable, cloud-based accounting with client collaboration tools.
Pricing
Free plan for businesses under $50K annual revenue; paid plans start at $20/month (Standard) up to $70/month (Elite), billed annually with user and contact limits.
Wave
otherFree accounting solution providing invoicing, receipt scanning, and basic bookkeeping for small practices.
100% free unlimited invoicing and accounting with no user or transaction limits on core features
Wave is a cloud-based accounting platform offering free invoicing, expense tracking, receipt scanning, and basic financial reporting tailored for small businesses and freelancers. It connects to bank accounts for automated categorization and provides simple dashboards for cash flow insights. For professional practices, it handles basic bookkeeping and client billing effectively but lacks advanced tools like time tracking or practice management integrations.
Pros
- Completely free core accounting and unlimited invoicing
- Intuitive interface with mobile app support
- Automated bank reconciliation and receipt scanning
Cons
- No native time tracking or project billing
- Transaction fees for payment processing (2.9% + 30¢)
- Limited advanced reporting and integrations for practices
Best For
Solo practitioners or small professional services firms needing simple, cost-free invoicing and bookkeeping without complex time or client management.
Pricing
Free for accounting, invoicing, and reports; payments at 2.9% + 30¢ per transaction; payroll starts at $20/month + $6/employee.
Sage Intacct
enterpriseScalable cloud financial management system with advanced reporting and multi-entity support for mid-sized practices.
Multi-dimensional data tagging and true multi-entity consolidation without manual spreadsheets
Sage Intacct is a robust cloud-based ERP and accounting platform designed for mid-sized businesses, including professional practices such as law firms, consulting groups, and nonprofits. It delivers core financial management tools like general ledger, accounts payable/receivable, cash management, and billing, with strong support for project accounting and time tracking. Advanced multi-dimensional reporting and multi-entity consolidation enable detailed insights into practice-specific profitability and compliance.
Pros
- Exceptional multi-dimensional reporting for granular financial analysis by client, project, or location
- Seamless multi-entity management with automated consolidations ideal for practices with multiple offices
- Extensive marketplace integrations with CRM, payroll, and practice management tools
Cons
- Steep learning curve and complex initial setup requiring professional services
- High cost structure not ideal for very small practices
- Customization often needed for niche practice workflows
Best For
Mid-sized professional service firms and multi-location practices needing advanced financial consolidation and scalability.
Pricing
Custom quote-based pricing, typically starting at $15,000 annually for base plans, scaling with users, entities, and modules.
NetSuite
enterpriseComprehensive ERP platform including robust accounting, inventory, and analytics for larger practices.
SuiteProjects for native project-based accounting, time/expense tracking, and resource forecasting in a unified platform
NetSuite is a comprehensive cloud-based ERP platform from Oracle that delivers robust accounting and financial management capabilities, including general ledger, AP/AR, billing, revenue recognition, and project accounting tailored for professional practices. It integrates seamlessly with CRM, inventory, and HR modules, providing end-to-end visibility for service-based firms. For practice accounting, it supports time tracking, resource management, and profitability analysis to handle complex billing and compliance needs.
Pros
- Exceptionally scalable for growing practices with unlimited customization
- Real-time dashboards and advanced reporting for financial insights
- Built-in project accounting and PSA tools for billable hours tracking
Cons
- Steep learning curve and lengthy implementation (often 3-6 months)
- High cost unsuitable for small practices
- Overly complex for basic accounting needs
Best For
Mid-sized to large professional service firms like law, consulting, or accounting practices needing integrated ERP beyond simple bookkeeping.
Pricing
Quote-based subscription starting at ~$999/month base + $99/user/month; annual costs often $20K+ with implementation fees.
Bill.com
specializedAutomated AP/AR software that streamlines bill payments, approvals, and syncs with accounting systems for practices.
Advanced OCR-powered bill capture and duplicate detection for effortless data entry
Bill.com is a cloud-based accounts payable (AP) and accounts receivable (AR) automation platform designed to streamline billing, invoicing, and payment processes for businesses and accounting practices. It automates bill capture via OCR, approval workflows, online payments including ACH, checks, and virtual cards, and integrates with major accounting software like QuickBooks and Xero. Ideal for practices managing client payables and receivables, it reduces manual data entry and improves cash flow visibility.
Pros
- Robust AP/AR automation with approval workflows
- Seamless integrations with QuickBooks, Xero, and Netsuite
- Secure payment options including virtual cards and international support
Cons
- Not a full accounting suite; requires integration with primary software
- Pricing can add up for multi-user practices
- Occasional delays in bank syncs or support response times
Best For
Accounting practices seeking efficient AP/AR automation for client bill management without needing a complete accounting replacement.
Pricing
Starts at $45/user/month (Essentials), $65/user/month (Corporate), custom Enterprise; billed annually with discounts.
Expensify
specializedExpense management tool for smart scanning, reporting, and reimbursement integration with practice accounting software.
SmartScan receipt capture that uses AI to automatically extract and categorize expense data from photos
Expensify is a cloud-based expense management platform that automates receipt scanning, expense tracking, and report generation for businesses and accounting practices. It excels in capturing expenses via mobile app, categorizing them with OCR technology, and facilitating approvals and reimbursements. The software integrates with popular accounting tools like QuickBooks, Xero, and NetSuite, making it suitable for practices handling client expense workflows.
Pros
- Exceptional mobile receipt scanning with SmartScan OCR for quick data extraction
- Robust approval workflows and integrations with major accounting software
- Real-time expense tracking and mileage logging for compliance
Cons
- Limited scope beyond expense management—no full accounting features like invoicing or payroll
- Pricing can escalate quickly for larger teams or advanced features
- Occasional glitches in integrations or mobile app performance
Best For
Accounting practices and firms focused on efficient client expense tracking, reimbursements, and compliance reporting.
Pricing
Free for individuals; team plans start at $5/user/month (Collect), up to $12/user/month (Corporate) with add-ons.
Avalara
specializedAutomated tax compliance solution handling sales tax calculations, filing, and remittances for accounting practices.
Geolocation-aware nexus tracking and real-time tax rate determination for over 13,000 U.S. jurisdictions and global VAT compliance.
Avalara is a cloud-based tax compliance platform specializing in automated sales and use tax calculation, filing, and remittance for businesses across thousands of jurisdictions. It integrates deeply with leading accounting software like QuickBooks, Xero, Sage, and NetSuite, making it valuable for accounting practices managing client tax obligations. While not a full accounting suite, it excels in handling complex, multi-state, and international tax scenarios to reduce compliance risks.
Pros
- Exceptionally accurate real-time tax calculations across 19,000+ jurisdictions
- Seamless integrations with major accounting platforms
- Comprehensive automation for returns, remittances, and exemption management
Cons
- Pricing can be expensive and complex, often transaction-based
- Initial setup and configuration require significant time and expertise
- Limited to tax compliance, not a complete accounting solution
Best For
Accounting practices serving clients with multi-jurisdictional sales tax needs who require precise automation and integration with existing ERP systems.
Pricing
Custom quote-based pricing; typically starts at $50-$100/month for basic plans plus per-transaction fees (e.g., $0.20-$0.50 per order), scaling with volume.
Conclusion
The top 10 tools showcase a range of strengths, with QuickBooks Online leading as the premier choice, offering a holistic suite of features for small to mid-sized practices. Xero and FreshBooks also stand out, with Xero excelling in user-friendliness and FreshBooks perfect for service-based workflows, ensuring there’s a strong option for nearly every practice need.
Don’t miss out—start with QuickBooks Online to unlock streamlined accounting and take control of your practice’s financial health today.
Tools Reviewed
All tools were independently evaluated for this comparison