If you’re a psychologist in private practice, you know that staying on top of all your business finances can be tricky.
One way to make this easier is to use accounting software that will help you balance your books quickly and accurately so you have more time to spend with your patients or on other aspects of your business.
Accounting software can streamline tasks like billing and payroll, helping you focus on the things that really matter.
But which accounting software solution should you choose? Here are our top five picks for the best accounting software for psychologists.
What is the Best Accounting Software for Psychologists?
1. Xero
If you’re looking for accounting software that’s specifically designed for psychologists, Xero is a great option. It’s easy to use and has all the features you need to manage your finances, including invoicing, tracking expenses, and creating financial reports.
Plus, Xero integrates with popular psychology practice management software, so you can easily keep track of your finances and appointments in one place.
Key Features
- Automatically pulls and records data from your bank account
- Smart bank reconciliation
- Integrates with payment providers such as Stripe, PayPal and GoCardless
- Automated financial reporting
Pros
- Very user-friendly
- Saves time by automating many tasks
Cons
- No free plan for new businesses
Price
- 30-day Free Trial
- Early: $12.00/mo
- Growing: $34.00/mo
- Established: $65.00/mo
2. Quickbooks Online
Quickbooks Online is one of the most popular accounting software programs for small businesses.
It offers a variety of features and integrations that can be tailored to fit the needs of any business, no matter the size.
Quickbooks Online also offers a free trial, so you can try it out before you commit to anything.
Overall, Quickbooks Online is a great option for psychologists who are looking for an accounting software that is user-friendly and customizable.
Key Features
- Easily track your cash flow
- Track your sales and expenses and sort receipts in one place
- Run a report in seconds
Pros
- Access anytime, on any device
- Large network of Quickbook accountants
Cons
- Can be a bit too complicated for some users
Price
- Simple Start: $17.00/mo; $183.60 annually
- Essentials: $26.00/mo; $280.80 annually
- Plus: $36.00/mo; $388.80 annually
*** They currently have a Limited Time Offer of 50% off for 3 Months!!!
3. Freshbooks
If you are looking for an alternative to Quickbooks Online, FreshBooks is another great option.
It’s cloud-based, so you can access it from anywhere, and it has features specifically designed for psychologists. Plus, it’s easy to use and has great customer support.
Key Features
- Snap receipt photos, email receipts to your account, and import expenses from your bank account.
- Automated Bank Reconciliation
- Great mobile app to keep tabs on your finances on the go
Pros
- Very affordable plans
- Easy to use
Cons
- Customer service is hard to reach
Price
- 30-day Free Trial
- Lite: $15.00/mo; $180 annually
- Plus: $25.00/mo; $300 annually
- Premium: $50.00/mo; $600 annually
- Custom Pricing
*** They currently have a Limited Time Offer of 70% off for 3 Months!!!
4. TopNotePad
TopNotePad is an accounting software designed specifically for psychologists. It helps you keep track of your income and expenses, manage your clients, and create invoices and reports.
TopNotePad is easy to use and has a clean interface.
TopNotePad has a free trial period, so you can try it out before you commit to it.
Key Features
- Generate quotations in one click
- Send invoices to clients by email
- Collect payments online
Pros
- Simple and intuitive
- Feature-rich
- Affordable
Cons
- Limited payment gateway options
Price
- Free 7-day trial
- Pond: $15.50/mo; $120 annually
- Lake: $25.00/mo; $240 annually
- Sea: $37.50/mo; $360 annually
- Ocean: $50.00/mo; $480 annually
5. Sage
Psychologists need to track a lot of data, from patients’ progress to finances. That’s why having good accounting software is important.
Sage is one of the most popular accounting software programs and it offers a lot of features that psychologists will find helpful, like being able to track time, bill patients, and manage expenses.
Key Features
- Save time with automated workflows
- Automatic bank reconciliations
- Snap receipts and automatically post them
- Send and track invoices automatically
Pros
- Significant customizable features
- Large network of accountants users
- Unlimited users
Cons
- Somewhat complex to use
Price
- Free 30-day trial
- Sage Accounting Start: $10.00/mo
- Sage Accounting: $25.00/mo
*** They are currently offering 70% off for 6 Months!!!