What software, online or otherwise, do you recommend for tracking invoices for consulting work? Do you prefer to do this manually, or do you feel that an out-of-the box solution is better?

Your accounting package should do this for you, and I assume you will have one of those. QuickBooks' accounts receivable reports are adequate for the job.

You could also use AccountAbility (see www.accountabilityaccess.us) as whilst we're marketing this as an ad agency solution predominantly, any organisation with project or consulting fees and wants to track performance against individual clients will benefit.

If you are a service based business and have no need to deal with state and local sales tax, Cloud accounting software called Xero (xero.com) + Freshbooks (integrated billing app), will do just fine for you.

If you have a service based business AND you need to deal with state and local sales and use tax, then Quickbooks Online Plus + Bill.com will do the job.

I'm an advanced pro advisor and looking for clients who want to migrate to the cloud or start their business in the cloud.

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