The Best Project Accounting Software

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Sage Intacct Screenshot

Sage Intacct

★★★★★
★★★★★
(46)
Sage Intacct is a browser-based, GAAP-compliant financial management software system. It features multi-entity financial reporting, customizable reports, and a user-friendly interface. The AICPA has endorsed the platform as a “preferred provider of financial management application.”
Price Range
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Starting Price
$8,580/year
Client OS
Web
Deployment
Cloud Hosted
QuickBooks Online Screenshot

QuickBooks Online

★★★★★
★★★★★
(45)
QuickBooks Online is the most popular financial software on the market. This cloud-based accounting solution enables tracking of sales and expenses, generating estimates, customer management, and seamless collaboration with external accountants.
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$30/month
Client OS
Web
Deployment
Cloud Hosted
FreshBooks Screenshot

FreshBooks

★★★★★
★★★★★
(5)
FreshBooks is well-recognized in the accounting world and stands as a competitor to QuickBooks Online. It’s a simple cloud accounting software that allows you to invoice clients, track expenses, and accept payments.
Price Range
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Starting Price
$15/month
Client OS
iOS, Android, Web
Deployment
Cloud Hosted
Xero Screenshot

Xero

★★★★★
★★★★★
(3)
A contender against QuickBooks Online, Xero is a popular solution for its user-friendly interface, affordability, and unlimited users per subscription. It’s a cloud-based, double-entry accounting software that offers bank reconciliation, financial reporting, and basic invoicing and billing.
Price Range
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Starting Price
$13/month
Client OS
Web
Deployment
Cloud Hosted
NetSuite ERP Screenshot

NetSuite ERP

★★★★★
★★★★★
(25)
Oracle’s NetSuite is well-known in the ERP world for its customization and scalability. It’s a multi-tenant ERP software supporting finance, operations, sales, service, and HR needs.
Price Range
   $     $     $     $     $   
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Starting Price
$99/user/month
Client OS
Web
Deployment
Cloud Hosted
Wave Screenshot

Wave

★★★★★
★★★★★
(5)
The Wave app is a highly popular accounting solution among freelancers and small businesses. It’s a free cloud-hosted software that allows you to track income and expenses, perform bank reconciliation, capture and organize receipts, and create custom invoices.
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Client OS
iOS, Android, Web
Deployment
Cloud Hosted
Zoho One Screenshot
Zoho One is a bundled package from Zoho that provides an entire operating system for your business. This integrated system increased productivity and delivers better customer experience by combining a number of Zoho products into one unified system. Areas covered by Zoho One include sales, marketing, support, HR, accounting, and operations. The breadth of what is possible in Zoho One is unlimited-making it a true business management solution that can handle all of your core processes. Zoho One
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Starting Price
$30/employee/month
Client OS
Web
Deployment
Cloud Hosted
Multiview Screenshot

Multiview

★★★★★
★★★★★
(3)
For organizations seeking a solution that easily conforms to their existing operations, Multiview offers a flexible, integrated suite of financial solutions. With Multiview , companies gain superior visibility over corporate data, creating a more effective and efficient organization while still controlling costs; Multiview is one of the most robust yet affordable solutions in the market. The highly scalable, sophisticated solution includes 18 fully integrated modules that can be deployed in a
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Client OS
Windows
Deployment
Cloud or On-Premises
BigTime Screenshot

BigTime

★★★★★
★★★★★
(6)
BigTime is a professional-grade system that provides project budgeting and planning, time and expense tracking, and invoicing and payments management. This is all backed by reporting and analytics functionality that takes the guesswork out of utilization, capacity planning, and project profitability. Your entire team will have the tools they need to deliver billable work on-time and on-budget. BigTime users see an average improvement of 25% in gross margins and a substantial increase in referral
Price Range
   $     $     $     $     $   
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Starting Price
$10/user/month
Client OS
Windows, macOS, iOS, Android, Web
Deployment
Cloud or On-Premises
Blackbaud Financial Edge NXT Screenshot

Blackbaud Financial Edge NXT

★★★★★
★★★★★
(14)
Blackbaud Financial Edge NXT is a total cloud accounting solution designed to meet the unique needs of nonprofits and government entities. Built on Blackbaud’s expertise and experience of over three decades, Blackbaud Financial Edge NXT delivers all the tools you need to manage financial reporting, monitor and track program success, support fundraising efforts, and ensure overall integrity for your organization. Intuitive, reliable, and secure, Blackbaud Financial Edge NXT can help streamline
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Client OS
Web
Deployment
Cloud Hosted
Denali Business+Accounting Screenshot

Denali Business+Accounting

★★★★★
★★★★★
(13)
Everything you expect from a leading business accounting solution, plus the tools to manage cash flow, monitor profitability, analyze trends, track inventory, and make informed financial decisions based on real-time accounting data. Let Cougar Mountain show you how DENALI Business+Accounting can serve your business. Accounting software should do more than keep the books. Advanced, multi-tiered security system that allows system rights to be established for users by application and function,
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Starting Price
$1,999/user (perpetual license)
Client OS
Windows
Deployment
Cloud or On-Premises
Acumatica Cloud ERP Screenshot

Acumatica Cloud ERP

★★★★★
★★★★★
(22)
Acumatica is a renowned platform in the ERP world. It offers accounting, distribution management, CRM, manufacturing, and more modules. Acumatica supports unlimited users, with pricing based on the resources and modules your company uses.
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Starting Price
$1,800/month
Client OS
iOS, Android, Web
Deployment
Cloud or On-Premises
Accounting Seed Screenshot

Accounting Seed

★★★★★
★★★★★
(3)
Accounting Seed, a full accrual accounting app on Salesforce, offers real-time financial tracking throughout the business lifecycle, from marketing to financial statement production.
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$250/month
Client OS
Web
Deployment
Cloud Hosted
Xledger Screenshot

Xledger

★★★★★
★★★★★
(3)
Xledger is a finance, project and Business Information system that gives customers tighter control of their business. This ERP software provides basic accounting, OCR data entry, and mobile access to your company finances. The fully integrated system includes role-based access to control which users can see and interact with each feature.
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Client OS
iOS, Android, Web
Deployment
Cloud Hosted
Aplos Oversight Screenshot
Aplos Oversight is the ideal, affordable accounting solution if you are an organization needing to oversee the finances of multiple chapters, nonprofits or offices. By combining the power of Cloud computing with their simple accounting software, Aplos Oversight software can help your nonprofit organization customize an accounting solution to meet your needs that will allow you to: Access your information from anywhere there is internet access; View real-time accounting for all of the nonprofits
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Starting Price
$59/month
Client OS
Web
Deployment
Cloud Hosted
BQE CORE Screenshot

BQE CORE

★★★★★
★★★★★
(57)
BQE CORE is a flexible and powerful business management solution with a full range of time and expense tracking, billing, project management, and accounting capabilities.
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   $     $     $     $     $   
   $     $     $     $     $   
Client OS
Windows, macOS, iOS, Android, Web
Deployment
Cloud Hosted
Jedox Screenshot
Jedox is an enterprise performance management and BI unified software solution. Jedox aims to streamline your planning process, unite users and data on one platform, and improve your businesses budgeting and forecasting. Jedox lets your plan, analyze, and report through one integrated EPM software. The corporate performance management solution gives insights and guidance to everyone in your company whether they are in the finance department, sales, or human resources. If your staff is stubborn
Price Range
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Starting Price
$160/month
Client OS
Windows, iOS, Android, Web
Deployment
Cloud or On-Premises
Monday.com Screenshot

Monday.com

★★★★★
★★★★★
(5)
Monday.com lets you plan, organize, and track in one visual space. Monday.com lets you create a custom workflow so any team in your company can work on what they need the way that is easiest for them. With Monday.com, you can create dashboards to gain insights into your company and track progress of work in process. Views available include: Calendar View; Chart View; Files View; Kanban View; Map View; and Timeline View. Templates; Customizations; Team sharing; Team collaboration; and Project
Price Range
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   $     $     $     $     $   
Starting Price
$8/user/month
Client OS
Web
Deployment
Cloud Hosted
Scoro Screenshot

Scoro

★★★★★
★★★★★
(2)
Scoro is an all-in-one business management software that brings together your sales, projects, and reports together. The solution helps your business prepare high quality work by planning, scheduling, and tracking all of your projects in one place. Entire project portfolios can be handled within Scoro. Customizable views let you see what you desire within your software. You can visualize the progress on your work, priotize assignments, avoid overlapping, and set deadlines. The core features of
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$26/user/month
Client OS
iOS, Android, Web
Deployment
Cloud Hosted
Striven Screenshot

Striven

★★★★★
★★★★★
(9)
Striven is a cloud-based ERP software that enhances productivity and collaboration by integrating various business management tools into one platform, including accounting, CRM, project management, HR, and inventory management.
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$35/user/month
Client OS
Web
Deployment
Cloud Hosted

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Buyer’s Guide

What is Project Accounting Software?

Project accounting software is aimed at helping companies learn which projects are most profitable by tracking project data in one shared location. The idea is to determine how much each project is worth for your business, and how to improve your return on investment (ROI) with each additional project. With the right accounting software, you can streamline your operations to increase profitability per project.

General accounting software offer core functionalities including general ledger (GL), accounts payable (AP), and accounts receivable (AR). However, these general solutions cover all financial areas of a company, such as payroll, rather than focusing on the financial impact of specific projects. A specialized project accounting software offers better benefits for businesses which want to streamline the costs of their project practices.

Features of Project Accounting Software

  • Core accounting: Perform basic revenue and expense tracking to create financial reports on multiple projects with modules for accounts payable, accounts receivable, and a general ledger
  • Dashboard: Review different project finances from a single dashboard or create shared dashboards for multiple users across different departments or teams
  • Job costing: Estimate how much a project will cost to ensure funds are correctly allocated
  • Budget tracking: Follow changes to a project’s budget in real-time to review spending habits
  • Invoicing: When a project is complete, send a fully accurate invoice to clients or customers in a timely manner
  • Financial reports: Track finances before, during, and after a project in order to collect historical data for future use when forecasting additional projects; use custom templates to organize various financial details on each project
  • Project management: Coordinate project tasks, including planning, scheduling, resource allocation, quality management, time tracking, and collaborative document sharing

There are many benefits to purchasing a project accounting software to automate your business operations, including:

Customizable Accounting

Whether you operate a small business or global enterprise, no two businesses run exactly alike. And individual projects within a single company may not be processed the same way. So why should your business use the same accounting software as another company in a completely different industry? A customizable project accounting software can provide the tools for personalizing the process as much as possible to best suit your business needs. This is a great benefit over general accounting solutions which may not be able to handle all the intricacies of different accounting requirements on your varied projects, whether it’s mass production or professional services.

For example, revenue recognition is incredibly complex under the most ideal of circumstances. Depending on your industry, it might not be as straightforward as sending out an invoice when the work is done. If you’re receiving payments during the project, perhaps based on percent completion, you’ll want an accounting solution which can accurately match those piecemeal payments to the right invoice.

This element of customization is particularly important for companies which handle multiple projects simultaneously. Any degree of personalization is crucial for companies which offer a variety of goods and services and want a single system for managing all their accounting. With everything visible on shared dashboards, your entire workforce can see the impact of their work on project profitability.

Wave Software Sales for Products and Services
Use Wave accounting software to track all your products and services.

Accurate Forecasting for Lower Costs

One way to optimize your project costs is to predict how much a project will cost before you even start. This is where historical data comes into play. Forecasting tools look at past project budgets to determine which costs are essential and which could be improved.

Forecasting job costs can lead to significantly lower project prices in the long run by helping your company find the most affordable resources. In turn, this impacts your resource management by keeping track of what raw materials get used and in what quantities.

Projects can go over budget for a wide variety of reasons. By reviewing project financials in real-time, you can gain a better understanding of how excess spending affects your profitability. Even better, you can use resource planning to put a stop to these unnecessary expenses once they’ve been identified.

More Precise Project Bids, Quotes, and Estimates

Customers don’t want to feel misled when they receive their final invoice. Project accounting software with job costing tools can help your company prepare better bids or estimates for your clients. The closer your initial quote is to the final invoice, the happier your customers will be.

For example, cloud-based project management modules with time tracking allow you to create more accurate timesheets on every project. Once you know how much labor a specific project takes, you can better estimate the costs for future work to maximize your profit margins.

Reports made on each project provide greater visibility into your company’s financials. Select the metrics which matter most and start collecting data on your most valuable business processes. And from a shared dashboard, you can see relevant accounting information on all current and past projects in real-time. The ability to measure day-to-day finances is also useful for illustrating the realities of project costs. You can also document price adjustments from change orders or any additional billable labor.

Sage Intacct
Revenue dashboards show how much your company is making based on factors like customer or item, made possible with Sage Intacct.

Project Accounting Solutions by Industry

Project accounting software offers many ways to optimize your financial reporting and budgeting future workflows, it can vary by industry. For instance, if you work in construction or architecture, you may want to consider construction accounting software. These industry-specific products offer extra tools to track financial data and monitor real-time expenses common in construction projects.

Further, project accounting modules are sometimes included in other software packages, such as enterprise resource planning (ERP) management tools and customer relationship management (CRM). Other financial management software is available to handle more specific tasks like payroll which specialized project accounting solutions lack.