Project management accounting software: down with the paperwork

It’s the 21st century – no one is surprised by technology now. Therefore, I am unlikely to impress you much if I say that project management accounting software will solve your bureaucratic issues and become an indispensable assistant in your work. The main goal of any software is to make your life easier by placing the burden of responsibility for calculations and statistics on a soulless program that is unaware of the mistakes we can make due to the human factor.

Management systems are needed to plan and manage tasks and dates, resources, costs, and budgets.

Most of these programs are also suitable for organizing interactions between team members.

According to a study conducted in 2023, 44% of managers do not use any project management software. At the same time, 77% of all high-performance projects that participated in the study were implemented using project management software.

So, in order not to become a loser and not to ruin your company, you need to install software. But which one, because there are so many of them? For this, I have compiled a list that will help you choose the best project management software for accounting firms: Karbon and Financial Cents.

It turns out that Karbon is not only a chemical element in the periodic table. It is also a cool software that will help accountants manage their projects. To understand how Karbon works, you need to spend a fair amount of time, but then, once you know how everything works (and this software has an intuitive interface), your company’s productivity will increase significantly.

1. A large library of templates (about 250 pieces).
2. The presence of a cloud document center.
3. There is a client management portal, which is convenient.
4. The software has artificial intelligence based on GPT.
5. There is direct integration with email, which makes Karbon a unique project management software for accounting firms.
6. Activity timeline views are available.
7. It is easy to manage clients (do not confuse it with manipulation!!!).

1. Automation built into existing templates and easy to implement in custom templates.
2. Task management is top-notch.
3. Good customer support: the company listens to all the feedback from the customer community and updates the platform, adding new features as needed.
4. Efficiency: Karbon makes it much easier to manage your workflow, allowing you to save your own time.
5. Artificial intelligence. The software has implemented AI, which made Karbon even more convenient.
6. Integrated communication and collaboration: emails, notes, and comments are tied to specific tasks, making it easy to find important conversations without digging through endless inboxes. This saves a lot of time and makes follow-up with clients and team members much easier.
7. Well-organized work with emails: it is possible to schedule sending emails and postpone them for later.
8. There is a free trial.
9. Open API.
10. The software is regularly improved and updated.

1. The functionality is designed for larger teams, so it may not suit you if your team consists of 1 or 2 people.
2. Insufficient control over tasks: the task list can be overloaded and therefore useless.
3. The time it may take to learn the features of the software.
4. Quite expensive software.

Here’s what a Reddit user says about Karbon:

“We have had Karbon for years and I love them. They are a bit expensive but worth it. I haven’t shopped the workflow software market for a couple of years but when I did, Karbon was the clear winner. The one feature that Karbon had that no one else did was collaborative workflow. By that, I mean workflow items could be assigned to the client and not just internally. For a smaller firm, many of Karbon’s features are not going to be that useful/valuable, but it is still worth it, in my opinion. Don’t overlook their email triage feature. It is very useful to track and assign client communications”.

However, as it turns out, Karbon is not to everyone’s liking.

Like all quality software, Karbon is quite expensive to use. This software offers three pricing plans: Team, Business, and Enterprise (prices are based on annual payment). And here is their cost:

Team: $59 per month per user.

Business: $89 per month per user.

Enterprise: Custom pricing.

Here is the second candidate for the best software in this niche. Financial Cents, just like Karbon, is designed to help accountants manage their projects, organize a lot of documentary information, and also automate data collection processes. In this software, you can easily store your clients’ data (for example, their documents and passwords).

Financial Cents allow accountants to track the time spent on projects, as well as use reports controlling the financial performance of clients. By the way, confidential information in this software is protected by encryption called Transport Layer Security. How much easier the lives of managers are now! No need to do everything manually, wasting a lot of time and unnecessary costs. Isn’t it cool when there is such software that will do almost everything for you?

1. It is possible to automate labor-intensive processes.
2. It is possible to organize and store all documents, accounts, clients’ email in one place
3. Convenient communication with clients.
4. It is possible to manage email (Hey, Karbon, how are you?)
5. There is a client portal.

1. Simple command functions.
2. Easy to perceive and study interface.
3. There is a 14-day free trial version, allowing you to test the software and understand whether you like it or not.
4. The support team is just cuties, ready to help at any time of the day.
5. Ease of use.
6. Price = quality.

1. No email templates.
2. Limited implementation of applications.
3. Cannot create an analysis and report.

Here is a recent review of the software: “This tool is easy to use and helps manage, organize, and simplify your work as an accountant or tax inspector!

It would be nice if it had accounting quality control or reporting aspects like Keeper. But FC is much easier to use.”

As for the prices of Financial Cents: they are quite democratic. This software has 3 pricing plans:

Solo – $19 per month for 1 user.

Team – $49 per month for 1 user.

Scale – $69 per month for 1 user.