Is Trello the right tool for Accountants?

Is Trello the right tool for accounting and bookkeeping firms?

Trello can be a useful tool for general project management and collaboration. But, it may not be the best fit for accounting and bookkeeping firms due to its limitations in terms of accounting specific workflows.

1. Lack of built-in features like proposals and engagement letters

Trello doesn't have built-in tools for proposals, engagement letters, tracking billable hours, generating invoices and document management etc.

2. Limited customization for workflow automation

Trello's workflow customization options are not extensive for accounting and bookkeeping firms which have client related workflows like receiving e-signatures, documents upload requests etc..

3. Inadequate client management features

Trello doesn’t have client management features, such as client portals, secure document sharing, and communication tools.

So you can’t request e-signatures from the clients or request any documents from your clients with the help of automation or otherwise.

4. Lack of integration with accounting software and payment gateways

Trello doesn't have native integrations with accounting software like QuickBooks or Xero and payment gateways like Stripe or GoCardless.

5. Lack of billing and payment feature

Trello doesn’t have a billing and payments feature to streamline your receivables management.

To ensure accurate billing and receiving payments on time, choose a practice management solution like Cone that integrates billing and payments seamlessly into your workflow.

6. Scalability challenges

As your accounting firm grows, you’ll need a practice management system that can easily scale up to meet the increasing demands. Trello's Kanban layout and limited feature set aren’t built for such complex data handling or managing larger teams.

Instead of relying on Trello, accounting and bookkeeping firms may be better served by using dedicated practice management software designed specifically for accounting and bookkeeping firms such as Cone.

These solutions often include features such as:

• Proposal and Engagement Letters
• Time and billing management
• Project and Task Management
• Invoicing and payment processing
• Client management and communication tools
• Document storage and sharing
• Workflow automation
• Client Portal

What is Trello?

Trello is a popular project management tool and was the pioneer of Kanban board which allows you to track who’s working on what in a quick scan.

Managing Workflows and Clients with Trello

1. Boards - Visualize your projects as boards containing lists filled with cards. You can adapt these flexible boards to fit any workflow or project type.
2. Lists - Organize tasks into lists on each board to keep track of progress stages, from 'To Do' to 'Done.' Customize lists to reflect phases, teams, or task types.
3. Cards - Manage individual tasks using cards. Add checklists, attachments, deadlines, assignment details, and comments to cards to enhance task management.
4. Automation - Save time and reduce manual efforts by automating routine tasks within Trello. Set up rules, buttons, and commands to automatically adjust cards and lists based on your project needs.
5. Integrations - Streamline your workflows and keep all your project materials in sync by connecting Trello with other tools like Slack and Google Drive.

Benefits of using Trello for Accountants

1. Efficient collaboration

Trello makes it easy to collaborate with the team members by structuring your projects using boards, lists, and cards.

2. Flexibility

It’s fairly flexible regardless of the size of your team and can be customized according to your needs.

3. Simplicity

Trello has its popularity for being easy to use.

4. Accessibility

Trello also has a mobile app and you can access the information from anywhere.

Comparative Analysis: Cone vs. Trello

We learned that while Trello offers some useful general project management capabilities with its Kanban boards and task cards, Cone takes things to the next level with features specifically designed for the workflows and needs of accounting firms. It's now time to go through a detailed comparison to find the winner of this comparison!

Feature Comparison

Let’s start by comparing and analyzing the differences in the features of these two first.

• Kanban Boards vs Custom Client Workflows: While Trello has traditional Kanban board views, Cone allows you to build custom workflows tailored to each client's unique processes. So instead of a generic "To Do, Doing, Done" board, you can map out the exact stages for tax prep, audits, bookkeeping retainers, etc.
• Task Cards vs End-to-End Client Management: In Trello, a card represents a simple task. However, with Cone, you get full-cycle management for entire client engagements. Create professional proposals, get e-signatures, auto-generate invoices, track payments, manage renewals - everything in one place!
• No Quoting vs Accounting Price Quotes: There's no way to send price quotes or proposals in Trello. Cone gives you flexible proposal software with an intuitive editor to pitch services and pricing to prospective clients.
• No Invoicing vs Automated Accounting Invoices: Trello has no built-in invoicing capabilities, while Cone automates your whole invoicing and payment collection process. Invoices are generated based on engagement milestones, and time/fee entries, and are paid easily online upfront.
• General Reporting vs Accounting Analytics: While Trello offers basic reporting on tasks, Cone provides robust analytics dashboards packed with insightful metrics and visualizations specific to managing an accounting practice.

Integration and Automation

Let’s now understand how these two differ in terms of integration and automation abilities.

• Integration Capabilities: Trello has basic integrations with popular apps like Google Drive, Dropbox, etc., but these are surface-level connections without deep syncing. Cone, on the other hand, deeply integrates with specialized accounting software (QuickBooks, Xero), tax tools, CRMs, practice management systems, payment gateways, and more.
• Automation Capabilities: Trello offers basic automation for general project management tasks. However, Cone provides comprehensively built automation for accounting workflows like automated invoice generation from time/fee entries, and milestones, automated client reminders for payments, and document requests, automated engagement renewals and upsell opportunities.

User Experience and Support

Both Trello and Cone aim for user-friendly interfaces that are easy to get started with. However, Cone's UI and navigation is purposely designed around how accounting firms work - allowing you to naturally transition between proposals, invoicing, client workflows, and more. Trello's interface is more generic for basic task management.

When it comes to customer support, Cone has an advantage catered mainly toward accounting firms and professionals trying to analyze and help you solve deep accounting-specific issues and can provide more relevant guidance. Trello's support is capable of general project management needs but may lack specialized accounting expertise.

Pro Tip: Looking for a virtual assistant?, read more about virtual assistant solutions for CPAs.

Cost-Effectiveness and ROI

One of the best ways to compare two software tools (albeit not always the case) is to do a pricing and ROI comparison. So how do these two tools stand against each other in these regards?

• Trello: Trello offers a free plan for individuals/small teams with unlimited boards/cards and basic integrations. Their paid Standard plan is $5 per user/month for unlimited boards, custom fields, and more storage. Premium is $10 per user/month adding views like calendar, timelines, dashboards, and admin controls. Their top Enterprise tier at $17.50 per user/month has advanced security, permissions, and management capabilities.
• Cone: Cone has three pricing tiers:

             Starter - 5$ or 4£ per user/month

              Ideal for small teams who has essential workflow, time tracking and billing needs

              Essentials - 10$ or 8£ per user/month

              Ideal for teams who wants to unify proposals, workflow & client collaboration

              Growth - 15$ or 12£ per user/month

               Ideal for growing teams with advanced automation to improve efficiency

Wrapping up

In this article, we discussed the major differences between popular tools - Trello and Cone to understand which might be the best option for your accounting project management needs.

While Trello is a versatile jack-of-all-trades and can be used for multiple project management tasks, Cone stands out to beat it in almost all aspects from the perspective of accounting task management with its robust and comprehensive features and a great anticipated ROI.

If you are looking to compare more such tools to find the best option for you, read more here.

Frequently asked questions (FAQs)

Is Trello good for task management?

Trello is best suited for simple project tracking and task management across various teams and use cases.

Is Trello a suitable tool for accounting and bookkeeping firms?

Trello is a good tool for just project and task management. However, it is not well suited as the project management tool for accounting and bookkeeping firms as the workflows related to accounting involves client work.