Introduction to Accounting Workflow Management Software
It's not just about speed when you use workflow software for accounting, it's also about eliminating human mistakes during mundane tasks.
So yeah, we get that you want to eliminate repetitive tasks and are searching for accounting workflow software to do so.
This leads us to introduce Cone, an accounting practice management software that boosts your practice with an all-in-one platform for CRM, proposals, projects, workflows, billing, invoicing, email management, and more at a fraction of the cost compared to alternatives.
Now that you know a bit about Cone's capabilities, let us give you an unbiased overview of a number of other accounting workflow software so you can make an informed decision.
What is Accounting Workflow Management Software?
Accounting Workflow Management Software helps in organizing and managing all the tasks and processes involved in an accounting firm. It could be any workflow like tracking transactions or preparing financial statements or any task, which is a part of your accounting process.
For each activity in the accounting practice, steps are set up to ensure that the process is followed correctly.
Accountants go for workflow management to keep track of their tasks, get rid of repetitive tasks, and reduce errors.
What is an Accounting Workflow Automation?
Automating accounting workflow involves using tools and functions to automate repeatable financial tasks. These tasks generally have a large number of processes that could be automated for a smoother workflow.
Automation makes it easier for accounting professionals to run projects more accurately and consistently. At the same time, automating accounting processes reduces human error and lets accounting experts focus on their core functions.
Overall, Accounting Workflow Automation is about boosting efficiency, improving accuracy, and freeing up resources.
6 Key features of an Accounting Workflow Management Software
You cannot just go ahead with any accounting workflow software, analyzing the tool comprehensively and ticking every box becomes crucial. Here are 5 boxes, you should definitely tick before paying for the product.
Project Management
Choose a workflow management tool that keeps your projects organized. This tool should allow you to set up tasks, assign them to team members, and track progress all in one place. It makes managing multiple projects easier and ensures nothing gets overlooked.
Templates
Look for software that offers customizable templates. These templates save time and maintain consistency across your business operations. They help you start new projects quickly and ensure every project follows a high standard from the beginning.
Automation
Automation is a must-have feature. It takes care of repetitive tasks for you, like sending reminders and updating project statuses. This lets you focus on more critical aspects of your work, boosting your productivity and reducing errors.
Time Tracking
Effective time tracking helps manage your time better and bill accurately for the hours worked. This feature should be easy to use and integrate smoothly with billing to streamline the payment process.
Reporting
Comprehensive reporting tools are essential. They should provide insights into project performance, team productivity, and financial health. This data is crucial for making informed decisions that drive business growth.
Client Requests
A top-notch workflow management tool should include a way to manage client requests efficiently. It should organize requests, track their progress, and ensure timely responses. This improves client satisfaction and helps you maintain a professional relationship.
10 Best Accounting Workflow Management Software for Accountants
Cone
If you are looking for an all-in-one accounting practice management software with the capabilities of efficient workflow management, Cone is your answer. This system simplifies and automates the daily tasks of accountants by providing a comprehensive accounting workflow.
In addition to scheduling, billing, and communication, it is responsible for managing the entire client relationship.
Top Features
- Workflows: Managing projects, clients and the team is a breeze with an easy to use platform
- Task Management: Allows for the quick assignment of tasks and the tracking of progress through notification alerts.
- Client Requests : Send clients forms, collect e-signatures, and request files needed to advance projects. Automatic follow-ups keep workflows on track.
- Templates: Simplify project creation with customizable templates tailored to your workflows.
- Integrated Email: Enables automated reminders and notifications
- Billing and Invoicing: Automates billing and allows customizable invoice creation.
- Document Management: Secures document storage with e-signature capabilities.
- Client Portal: Clients can access their projects, appointments, invoices, and payments through the portal.
Pros
- Have proposal software along which makes the workflow of client engagement seamless - No separate proposal software.
- Automates workflows which includes client requests to enhance operational efficiency.
- Simplifies client management and engagement.
- Includes e-mail and billing to cover various other accounting specific workflows.
- Offers customizable settings for specific practice needs.
Best for
Suitable for accountants and accounting firms of all sizes, thanks to its incredible scalability.
Pricing
$5 per user/month, making it affordable and accessible to all accounting practices.
TaxDome
Professionals can save time and improve operational efficiency with TaxDome's tax and accounting workflow automation. It automates reminders, status updates, and engagement letters, reducing manual tasks significantly by automating tax, accounting, and bookkeeping workflows.
Top Features
- Customizable workflow templates for various business processes.
- Automation of status updates, reminders, and dependency creation.
- Insights dashboard for workload management and efficiency metrics.
- Online calendar to manage and prioritize work, ensuring deadlines are met.
- Kanban and list views for a comprehensive overview of tasks and statuses.
- Automated communication updates for streamlined client interactions.
- High volume of automation, email, and secure chats sent automatically.
Pros
- Increases efficiency by automating repetitive tasks and communications.
- Ensures no task is overlooked with automated reminders and status updates.
- Saves significant time, thanks to automated workflows.
- Provides a flexible solution suitable for practices of any size, from solo practitioners to multi-office firms.
Cons
May require an initial learning curve to fully utilize all features and customizations.
Best For
TaxDome is best suited for tax and accounting professionals, including those in bookkeeping, wealth management, and advisory services.
Pricing
Starts from $50, per month per user.
Canopy
Canopy is designed to modernize and streamline operations, which also involves workflow management as one of the features. The solution simplifies client engagement, document management, and billing for accounting firms and professionals.
Top Features
- Client Engagement: Efficiently serve and market to your ideal client base.
- Document Management: Access and manage documents from anywhere, easily.
- Workflow Automation: Utilize templates and automation to eliminate busy work.
- Time & Billing: Optimize billing processes for improved financial management.
- Engagements & Proposals: Streamline annual re-engagements with professional proposals.
- Insights: Gain real-time insights to spot trends and optimize firm operations.
Pros
- Drastically reduces manual tasks, saving an estimated 6 hours per week.
- Enhances client experiences with streamlined engagement and document management.
- Offers customizable workflow automation to suit various accounting processes.
- Provides valuable insights for better decision-making and firm optimization.
Cons
May require a period of adjustment to fully integrate and utilize all features.
Best For
Medium to large accounting firms as the pricing for smaller firms could be significant.
Pricing
Workflow: $35 per use, per month
With essential add–ons, the solution could cost above $100 per user/month
Karbon
Accounting firms can enhance their visibility, efficiency, and collaboration with Karbon's integrated practice management platform. It boosts productivity by centralizing communication, client management, and workflow automation.
Top Features
- Centralized Client Management: Tracks and manages client relationships effectively.
- Workflow Automation: Automates routine tasks to focus on client service.
- Project Management: Makes sure team objectives are aligned and tasks aren't missed.
- Team Collaboration: Manages tasks and encourages team communication.
- Email Management: Integrates email into workflows for better management.
- Document Management: Simplifies file sharing and organization.
- Calendar Integration: Links with Google or Outlook calendars for better planning.
Pros
- This frees up time to focus on client service and strategic planning.
- Enhances productivity by streamlining workflows and eliminating manual tasks.
- Ensures effective remote work by improving collaboration within the team and with clients.
- Supports a seamless workflow environment by smoothly integrating with multiple applications.
Cons
A full utilization of the platform may require ongoing training and support.
Best For
Accounting firms that are medium to large, as smaller firms could be impacted by pricing.
Pricing
Team - $79/month per user, paid monthly
Business - $99/month per user, paid monthly
Jetpack Workflow
Jetpack Workflow allows accounting firms to organize, standardize, and automate their workflows. This platform ensures that recurring client tasks are managed efficiently, deadlines are met, and team progress is tracked.
Top Features
- Custom Work Templates: Streamline service delivery with easily created or pre-existing templates.
- Deadline Automation: Prioritize tasks to ensure critical deadlines are always met.
- Team Progress Tracking: Maintain visibility over team workload and progress on tasks.
- Exceptional Support: Benefit from dedicated support and onboarding from accounting workflow specialists.
Pros
- Streamlines the management of accounting workflows, freeing up valuable time each week.
- Helps firms increase efficiency, enabling better client service and positive reputation building.
- Automates recurring tasks, reducing manual admin work and enhancing team productivity.
- Provides tools to standardize client work across the firm for consistency and reliability.
Cons
Getting accustomed to the full range of features and customizations may require a dedicated onboarding period for some users.
Best For
Medium to large accounting firms as the pricing is not suitable for freelance professionals or smaller firms.
Pricing
$45 Per user / mo, billed monthly
Pixie
Pixie is a cloud-based practice management software used mostly by accountants. Pixie helps firms streamline processes, promote uniformity, cut down on administrative work, centralize client data, etc.
Top Features
- Workflow Automation: Create recurring jobs, assign tasks, and send reminders all automatically.
- Centralized Client Records: Keep all client data, including communication, documents, and contact information, in one location.
- Task Management: Assign work to team members, keep tabs on completion dates, and measure progress.
- Email management: Use the platform to send and receive emails. Attach files for quick access.
- Client Onboarding: With pre-made templates and automated procedures, onboarding new clients is simple.
Also Read: Pixie vs. Karbon vs. Cone - Which is the right tool for you?
Pros
- Pixie's user-friendly interface makes it easy for inexperienced users to understand it.
- Pixie's support team provides generous assistance to help users.
Cons
Users may find that, compared to other software like Cone, Pixie is costly.
Best For
Pixie is best for small to medium-sized accounting firms and bookkeeping practices
Pricing
- Less than 250: $129/month
- 250 - 500: $199/month
- 501 - 1000: $329/month
- Above 1000: Custom pricing
Trello
Trello software facilitates task and project organization for individuals and groups. Trello is a well-liked tool for managing both simple and complex projects by teams globally since it is easy to use and customized.
Key Features
- Boards: Boards are similar to a workspace where you organize everything. You can have different boards for different projects or teams.
- Butler Automation: Automates repetitive tasks on your boards without needing to write code.
- Templates: Trello offers a wide range of templates that act as blueprints for success.
- Calendar View: Shows your tasks on a calendar, helping you keep track of what’s due.
- Integrations: Trello supports integrations with a variety of apps like Gmail, Slack, or Salesforce.
Pros
- It is perfect for teams who operate from different physical locations since it offers a single platform for users to collaborate and organize projects.
- Even for inexperienced users, it is simple to useI.
- Trello has functionalities that are enhanced by integrations known as Power-Ups.
Cons
- The Enterprise plan of Trello requires a minimum of 50 users. It is a rigid rule that is expensive and may not be suitable for smaller businesses.
Pricing
Trello has different pricing plans:
- Free: Great for individuals or small teams.
- Standard: $5/user/month
- Premium: $10/user/month
- Enterprise: Custom pricing starts at $17.50.
Aero Workflow
A cloud-based practice management software created especially for accounting companies by accountants is called Aero Workflow. It focuses on workflow optimization and automation to help accounting professionals manage their daily responsibilities more effectively and uphold high service standards.
Key Features
- Workflow Design: Aero provides built-in checklists for common accounting and bookkeeping tasks, such as client onboarding and offboarding.
- Task Organization: The platform allows users to schedule both one-time and recurring tasks, ensuring that all client work is organized and accessible.
- Integration: It also integrates with tools like QuickBooks Online, QuickBooks Time, Office 365, and Zapier, enabling seamless workflow management.
- Performance Tracking: Aero includes built-in time tracking, offering real-time insights into staff performance and potential scope creep
- Client Advisory: Aero enables firms to open and manage Aero accounts for their clients, share checklists, and even offer process advisory services.
Pros
- Allows remote staff to access job lists and work from anywhere.
- Offers the ability to store and manage procedures, client data, and resources effectively.
- Provides online training that's easy to use.
Cons
- Can be difficult to understand initially; requires effort to learn and set up.
- May lack certain integrations and bulk import features.
Best For
Aero Workflow is ideal for accounting firms and firms looking to scale that want to standardize their processes, manage tasks more effectively, and gain deeper insights into their operations.
Pricing
Aero Workflow has three plans:
- Starter - $135/per month
- Growth - $250/per month
- Scaling - $365/per month
Financial Cents
Accounting organizations can enhance their job efficiency by utilizing Financial Cents, a cloud-based program. You and your team can stay on top of deadlines and complete work more quickly since it keeps all of your tasks, client information, emails, and documents organized in one location. Learn more about the top 10 Financial Cents alternatives.
Key Features:
- Project Management: Track all your client work and see who’s working on what in a simple, easy-to-use interface.
- Workflow Automation: Automate repetitive tasks and processes to save time and reduce manual work.
- Email Management: Manage all your client communications directly within the software, keeping everything organized.
- Client Portal: A secure, password-free portal where clients can upload documents and respond to your requests easily.
- Document Management: Store and organize all your important files in one place, accessible to your whole team.
Also Read: TaxDome vs Financial Cents: Which One Is Better For Your Accounting Practice?
Pros
- Clients can upload documents directly into the software without needing to set up a login.
- Easy time tracking and conversation recording with clients.
- Seamless setup with intuitive processes.
- Automated client task reminders save time.
- Integration with QuickBooks Online is easy and efficient.
Cons
- Limited customization options for the client portal and emails.
- No Chrome extension for direct use in QuickBooks Online.
- Some users find the price steep, although they consider it an investment.
Best For
Financial Cents is best suited for accounting firms of all sizes.
Pricing
- Solo Plan: $9 (annually) or $19 (monthly)
- Team Plan: $39 (annually) or $49 (monthly)
- Scale Plan: $59 (annually) or $69 (monthly)
Firm 360
Firm 360 is an all-in-one accounting practice management software software designed to help accounting firms manage their daily tasks more efficiently. It combines tools for project management, client communication, billing, and time tracking all in one place.
Key features
- Project Management: Track and manage your team's workflow in real time.
- Document Management: Organize and access all documents within a unified system.
- Client Management: Provide clients with a portal for seamless communication, document signing, and financial overview.
- E-Signature Integration: Securely request and obtain client signatures directly within the platform.
- Time And Billing: Efficiently track time and manage billing processes to ensure accurate invoicing.
Pros
- Firm360 is user-friendly, and intuitive, and requires minimal training for employees to start using it effectively.
- Provides a centralized location for all client information, documents, and project management, enhancing organization and efficiency.
Cons
- The billing system is considered basic and could use more robust features.
- While generally easy to use, the software has a lot of features that may take time to learn fully.
Best For:
It is particularly well-suited for CPAs and accounting firms looking to modernize their practices and improve efficiency.
Pricing
Firm360 has four pricing plans:
- Basic: $49 per user, per month
- Standard: $79 per month
- Premium: $99 per month
Pro Tip: Project planning, management, monitoring, and execution are all aided by accounting project management software. To find out the best project management software for accounting organizations, read this article.
Change The Game With Cone!
As we finish talking about the best software for accounting workflow management, it's critical to find one that has everything you need but costs as little as possible. Cone does just that. It stands out because it gives accounting firms and professionals, no matter their size, everything they need without being too expensive.
It helps with matters like keeping track of your clients, sending bills, and making invoices, covering everything you need to run your accounting work smoothly. That means you'll get things done faster and make fewer mistakes while managing money correctly.
For anyone working in accounting who wants to make their work easier without spending too much, Cone is the perfect choice. It's not just affordable; it also has an accounting workflow feature you would need. Sign Up for the Practice Management Software for Accountants today and streamline your bookkeeping practice with ease.
Frequently Asked Questions (FAQs):
What is an Accounting Workflow Software?
Accounting workflow software helps you manage your accounting tasks efficiently. It automates repetitive processes such as invoicing and budget tracking. This reduces errors and frees up your time. You can focus on more important financial decisions.
- Automates tasks
- Reduces errors
- Saves time
What is Bookkeeping Workflow?
The bookkeeping workflow is an organized system for recording financial transactions. By generating orders in this fashion, all financial transactions are recorded promptly and accurately. It helps prevent financial discrepancies and facilitates smooth financial reporting.
- Organizes financial records
- Ensures accuracy
- Prevents discrepancies
What Makes Accounting Workflow Software Essential?
Basically, it defines what needs to be done and who will do it. Workflow software includes features like task assignments, deadlines, reminders, version control, approvals, and reports.
Accounting practices that fail to leverage workflow software are simply losing out on operations brilliance.
How Do I Choose the Right Software for My Firm?
Focus on these actionable steps when choosing software:
- Match Software to Your Needs: Pick software that aligns with your firm's requirements and easily integrates with your current tools.
- Opt for User-Friendly Interfaces: Select software that everyone in your team can quickly learn and use to boost productivity.
- Demand Customization: Ensure the software can adapt to your unique workflow and client management needs.
- Aim for Scalability: Choose software that can grow with your firm, easily handling more clients and projects.
You get all of this with Cone. It provides a single platform for proposal-to-payment processes, accounting practice management, and work management.
How Does Accounting Workflow Software Integrate with Other Business Systems?
Achieve a streamlined workflow by ensuring your accounting workflow software:
- Automates Data Transfers: Set up automatic data sharing between systems to minimize manual entries and errors.
- Consolidates Data for Insight: Use a platform that offers an overarching dashboard for data from various systems, providing immediate insights.
- Reduces Tool Reliance: Cut down on the need for multiple software solutions by choosing a platform that offers extensive functionalities across business operations.
Cone features robust integration capabilities that enable you to manage clients, track projects, and produce financial reports from one location.
What Security Measures Should Top Accounting Workflow Software Include?
Implement these security measures for peace of mind:
- Enforce Data Encryption: Make sure your software encrypts data in transit and at rest.
- Implement Multi-Factor Authentication (MFA): Increase security by adding another layer of authentication.
- Conduct Regular Security Audits: Evaluate the security of your software on a regular basis to identify potential vulnerabilities and mitigate them.
- Secure Client Portal Access: Give your clients secure access to their billing and documents.
Conclusion
As we finish talking about the best software for accounting workflow management, it's critical to find one that has everything you need but costs as little as possible. Cone does just that. It stands out because it gives accounting firms and professionals, no matter their size, everything they need without being too expensive.
It helps with matters like keeping track of your clients, sending bills, and making invoices, covering everything you need to run your accounting work smoothly. That means you'll get things done faster and make fewer mistakes while managing money correctly.
For anyone working in accounting who wants to make their work easier without spending too much, Cone is the perfect choice. It's not just affordable; it also has an accounting workflow feature you would need. Sign Up for the Practice Management Software for Accountants today and streamline your bookkeeping practice with ease.