What features should I look for in accounting practice management software?

The core features to look for include workflow and task management, workflow automation, a CRM, a client portal, document management, team collaboration tools, time tracking and billing, proposals and engagement letters, capacity management, reporting, and integrations with your key accounting tools. Everything else is a nice to have.

Which feature should a growing firm prioritize first?

Once your firm has more than a couple of people, prioritize a dashboard that shows the status of every project and who is responsible for it. Next, look for a client portal and CRM to manage client work, followed by time tracking, billing, and reporting to help your firm scale efficiently.

Do I need a built in CRM if I already use a separate one?

If your practice management software includes a built in accounting CRM, it is typically more efficient to use it instead of a separate platform. Keeping client records and work in the same system reduces tool switching and helps your team work more efficiently.

What is the difference between practice management software and workflow management software?

Workflow management software focuses on projects, tasks, automations, and due dates. Practice management software includes workflow management plus additional features such as time tracking, billing, reporting, team collaboration, and other tools needed to run an accounting firm.

How much does practice management software for accounting firms typically cost?

Most accounting practice management platforms charge per user per month, although pricing varies by provider. Financial Cents offers plans starting at $19 per month for Solo, $49 per user per month for Team, and $69 per user per month for Scale.

Can accounting firms use Asana, ClickUp, or Monday.com instead of accounting specific software?

Yes, but these general project management tools are not designed specifically for accounting firms. While they can manage projects, they often lack accounting specific workflows and features that help firms operate more efficiently.

What should I test during an accounting firm practice management software free trial?

During a free trial, test creating recurring bookkeeping workflows, assigning tasks, requesting client documents, tracking time, creating invoices, reviewing team workload, locating client records, and running reports. If possible, invite a team member to evaluate the platform's ease of use.

Do small accounting firms need practice management software?

Yes. While smaller firms may not need advanced features like capacity planning or extensive team collaboration, they still benefit from software that helps track projects, collect client documents, and manage client records in one place.

Wesley Armstrong

Customer Onboarding Manager

Wesley Armstrong is the Customer Onboarding Manager at Financial Cents. He works with accounting and bookkeeping firms as they get started on Financial Cents, helping them turn the way they already work into clear, repeatable workflows. Before joining Financial Cents, Wesley spent two years as a Technical Support Specialist at SmartVault, the document management platform for accounting firms. That gave him a front-row view of the tools firms rely on and the problems they run into, and he now draws on it when helping new customers get set up. Earlier in his career, he worked hands-on as a technician, building jigs and systems that made complex projects easier to repeat. He believes the process can be just as beautiful as the product, and he brings that mindset to every firm he onboards. He’s highly organized and enjoys solving problems collaboratively: learning from the people he works with and finding new ways to tackle challenges together. On the Financial Cents blog, he writes about comparing practice management tools, moving off spreadsheets or other software, and setting firms up for success.

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