by Chris Williams | Mar 13, 2025 | Blog, Bookkeeping Tech, Resources & Downloads, Small Business Stories
Picture Alex, founder of a growing environmental consulting firm, comparing bookkeeping software options on her laptop. “I know I need something better than spreadsheets,” she mutters, “but how do I choose between all these options?” Choosing the right bookkeeping software can feel overwhelming if you’re like Alex. Let’s cut through the confusion.
Understanding What Matters
Consulting firms have unique financial needs. Through their work with over 175 professional service firms, System Six has found that consulting businesses need particular capabilities in their bookkeeping software. You’ll want to track project profitability, allocate time and expenses efficiently, create professional invoices, and see your real-time cash flow. Most importantly, your software should play well with other business tools you use daily.
The Top Contenders
QuickBooks Online is System Six’s top recommendation for most consulting firms. “QuickBooks Online forms the backbone of our client’s financial systems,” explains Tim from System Six. Its robust feature set and extensive integration capabilities make it ideal for consulting firms.” The software excels at project and class tracking, offers strong reporting capabilities, and grows alongside your firm. While its interface can initially feel overwhelming, proper setup and guidance can transform it into a powerful ally for your business.
For firms with international operations, Xero offers a compelling alternative. Its multi-currency handling and intuitive interface make it particularly attractive for firms across borders. One System Six client who switched to Xero praises its clean interface and excellent bank reconciliation features. However, compared to QuickBooks Online, Xero offers fewer US-specific features and a more limited selection of third-party integrations.
Smaller consulting practices (<$400K in revenue) might find FreshBooks hits their sweet spot. It shines in time tracking and professional invoicing, with an interface that won't send you reaching for the aspirin. Yet, as your firm grows, you might find its reporting capabilities and basic accounting features somewhat constraining.
Sage Intacct enters the conversation for consulting firms scaling beyond $20 million in revenue. It offers sophisticated financial management features that larger firms need, though its significant investment requirement and steep learning curve make it overkill for smaller operations.
Making It Work
Having the right software is just the beginning – the implementation transforms it from a tool into a game-changer. As one System Six client shares, “They revamped our whole accounting system into accurate and dependable practices. They take on the entire setup and effectively act as consultants until your accounting operations run smoothly.”
The setup phase proves critical. Many firms stumble by trying to configure these tools without proper expertise. Working with experienced partners like System Six ensures your chart of accounts reflects consulting industry best practices, your project tracking captures the right metrics, and your automation saves time rather than creating headaches.
Your software needs will evolve as your firm grows. Quarterly reviews of your financial systems help ensure they continue supporting your business effectively. “I don’t have to think about my accounting anymore,” one System Six client notes. “It’s just taken care of seamlessly.” This peace of mind comes from combining the correct software with expert implementation.
Making Your Choice
When selecting your software, consider your firm’s current size and growth trajectory. A solo consultant’s needs differ vastly from those of a 50-person firm. Think about which features you genuinely need today and which you might need tomorrow. Consider your budget not just for the software but also for proper implementation and support.
Remember Alex from our opening? She ultimately chose QuickBooks Online, which she implemented with System Six’s guidance. “Now I actually understand our numbers,” she says. Instead of wrestling with basic bookkeeping, I’m using financial insights to drive decisions.” Her story could be yours, too.
The right combination of software and expertise can transform your financial operations from a burden into a strategic advantage. Consider partnering with experts who can help you not just choose the right software but implement it in a way that gives you back your evenings and weekends. After all, you became a consultant to solve complex problems for clients, not to become an amateur accountant.
About System Six
System Six is a modern, fully remote, cloud-based finance and accounting firm dedicated to providing exceptional services to service and software businesses. We specialize in bookkeeping, payroll, bill payment, invoicing, and sales tax filing, ensuring your financial operations are seamless and efficient. Our unique team-based approach brings decades of experience and expertise, managing day-to-day bookkeeping processes, finances, and technology stacks with a focus on sustainability and long-term, win-win relationships. At System Six, we believe that our clients’ success is our success, and we are committed to delivering excellence in every aspect of our work.
Contact us at hello@systemsix.com.
by Chris Williams | Mar 13, 2025 | Blog
The desk lamp casts a lonely glow across scattered receipts, expense reports and an inbox that’s even more cluttered. It’s 9 PM, and instead of preparing tomorrow’s client presentation, you’re wrestling with reconciliations and other accounting items way beyond your expertise. For many consulting firm owners, this scene feels painfully familiar.
The True Cost of Manual Financial Management
Consider this: most consulting firm owners spend 15-20 hours monthly on financial administration. That’s not just time lost – it’s revenue sacrificed. Those hours could generate $3,000-5,000 in billable work at typical consulting rates. Instead, they’re consumed by tasks that modern technology and the right experts could handle automatically.
“I’d spread papers across my dining room table every Sunday night and sort through a messy inbox, trying to make sense of the week’s transactions while my family watched movies in the next room,” shares one consulting firm owner who later partnered with System Six. “I knew I was losing thousands in billable hours, but I didn’t see another way.”
Let’s examine the five most time-consuming financial tasks and how modern solutions can transform them:
1. Transaction Categorization and Reconciliation
The traditional approach of manually categorizing expenses and reconciling accounts consumes hours weekly. One System Six client admitted spending every Monday morning sorting through the previous week’s transactions—time that should have been spent with clients.
Properly configured, today’s cloud-based systems can categorize transactions automatically with remarkable accuracy. “System Six revamped our whole accounting system into accurate and dependable practices,” shares a client. Now, I can pull up real-time insights from my phone between client meetings.”
2. Invoice Creation and Collection
Creating custom invoices, tracking payments, and following up on overdue accounts traditionally require meticulous attention. Many consultants spend hours each month crafting invoices and chasing payments.
Modern automation transforms this process entirely. As one System Six client notes, “They’ve automated our invoicing workflow completely. Now I can generate professional invoices with one click, and the system tracks payment status automatically.”
3. Expense Report Processing
The old way is collecting receipts, manually entering data, checking compliance, and reimbursing employees. The new way is mobile apps that capture receipts instantly, automated approval workflows, and direct integration with accounting systems.
“Since implementing automated expense tracking through System Six, we’ve cut our processing time by 80%,” reports a consulting firm owner. “No more lost receipts or delayed reimbursements.”
4. Compliance and Tax Management
Tax deadlines and compliance requirements keep many consultants awake at night. Missing key dates can result in penalties, while incorrect filings can trigger costly audits.
“System Six has done wonders for my stress level,” shares another client. “They’ve created automated systems that track every deadline and requirement. I no longer worry about compliance – it’s all handled automatically.”
5. Financial Reporting and Analysis
Generating accurate financial reports traditionally meant hours of spreadsheet work and manual calculations. Many consultants simply couldn’t spare the time, operating with limited visibility into their financial health.
Modern systems generate real-time reports automatically. “Now I understand our numbers,” says a System Six client. “Instead of wrestling with basic bookkeeping, I’m using financial insights to drive decisions.”
The Power of Professional Partnership
While technology enables automation, implementing it effectively requires expertise. System Six has helped hundreds of consulting firms transform their financial operations. They’re not just vendors – they’ve become part of our team, helping us develop better financial processes. With System Six, you get a dedicated team of financial experts who will guide you through the entire process, from setup to ongoing support.
The results speak volumes: “We’ve grown 40% this year because I can focus on clients instead of paperwork,” reports a consulting firm owner who made the switch. “They take on the entire setup and effectively act as consultants until your accounting operations run smoothly.”
Imagine Tomorrow
Picture walking into your office tomorrow knowing your finances practically manage themselves. Your books are always current, your tax deadlines are tracked automatically, and you can instantly access any financial insight you need. What would you do with those extra 15-20 hours each month?
One System Six client answered that question definitively: “Since automating our finances, I’ve landed three new major clients. Those deals happened because I could focus on relationships instead of reconciliations.”
Your time is too valuable to waste on manual financial tasks. Modern solutions exist to automate these processes; experienced partners like System Six can implement them effectively. The question isn’t whether to automate – it’s how much longer you can afford not to. With automated financial management, you’ll not only save time but also reduce errors, improve compliance, and lower your stress levels. The benefits are clear, and the time to make the switch is now.
Ready to reclaim your evenings and weekends? The transformation starts with a single step. Consider how many billable hours you’ll reclaim when your financial processes run themselves. The future of consulting isn’t about working harder – it’s about working smarter. If you’re ready to take that step, contact System Six today and start your journey towards financial efficiency.
About System Six
System Six is a modern, fully remote, cloud-based finance and accounting firm dedicated to providing exceptional services to service and software businesses. We specialize in bookkeeping, payroll, bill payment, invoicing, and sales tax filing, ensuring your financial operations are seamless and efficient. Our unique team-based approach brings decades of experience and expertise, managing day-to-day bookkeeping processes, finances, and technology stacks with a focus on sustainability and long-term, win-win relationships. At System Six, we believe that our clients’ success is our success, and we are committed to delivering excellence in every aspect of our work.
Contact us at hello@systemsix.com.
by Chris Williams | Mar 13, 2025 | Blog
Marcus checks his phone during a client meeting break, and his stomach tightens. There are three overdue invoice reminders from his contractors, two urgent messages from his office manager about upcoming payroll, and an email from his biggest client requesting a project timeline extension – with payment terms to match. Despite his firm’s growing client roster and stellar reputation in environmental consulting, these moments of financial anxiety have become all too familiar.
The cash flow challenge in consulting isn’t just about having enough money in the bank. It’s a complex web of timing, tracking, and tough decisions that can make or break even the most promising firms. Let’s uncover the hidden costs that poor cash flow management inflicts on consulting businesses – far beyond the balance sheet.
The Perfect Storm: Why Consulting Firms Struggle
Consulting firms face a unique set of cash flow challenges. Large corporate clients often demand extended payment terms – Net-30, Net-60, or Net-90. Meanwhile, your team members expect paychecks every two weeks, and contractors need timely payments to maintain good relationships. This misalignment creates constant pressure on your working capital and ultimately your bank account.
But a more profound issue lurks beneath the surface: the fixed-fee project trap. “We thought we were making money on every project until we dug into the numbers,” admits Tom, a strategy consultant who partnered with System Six. “We had no reliable way to track time against projects, so we couldn’t see which engagements were profitable.”
This widespread problem stems from consulting firms’ resistance to implementing rigorous time-tracking systems. Teams focus on delivering value to clients, often viewing detailed time tracking as administrative overhead. Yet without this data, firms can’t accurately measure project profitability or resource utilization – critical components of healthy cash flow.
The Invisible Drain on Your Business
Poor cash flow management costs extend far beyond late payment fees or emergency loans. Here’s what’s really at stake:
Professional Reputation
Word spreads quickly in professional networks when you can’t pay contractors on time. One System Six client shared, “Before controlling our cash flow, we lost several excellent contractors because of payment delays. It took months to rebuild those relationships.”
Growth Opportunities
You can’t seize new opportunities without reliable cash flow. Imagine turning down a dream project because you can’t afford to staff up quickly enough. “We had to pass on a major contract last year because we didn’t have the cash buffer to bring on the necessary specialists,” reports another consulting firm owner.
Team Morale
Constant cash flow stress trickles down to your team. Quality suffers when project managers worry about budgets instead of focusing on client outcomes. One firm reported spending 15-20 hours monthly just managing cash flow – time that should have been spent serving clients.
Breaking the Cycle
Forward-thinking consulting firms are tackling these challenges head-on. Here’s how:
Implement Robust Project Economics
Modern cloud-based systems make tracking time, resources, and project profitability easier than ever. “System Six revamped our whole accounting system into accurate and dependable practices,” shares a client. “Now I can pull up real-time insights about project profitability from my phone between client meetings.”
Automate Cash Flow Management
Stop relying on spreadsheets and manual tracking. Today’s tools can automatically categorize transactions, forecast cash positions, and alert you to potential shortfalls before they become crises. As one System Six client notes, “They’ve automated our invoicing workflow completely. Now I can generate professional invoices with one click, and the system tracks payment status automatically.”
Build a Culture of Financial Awareness
Help your team understand the connection between accurate time tracking and firm health. When everyone sees how their efforts contribute to project profitability, they’re more likely to embrace necessary processes.
Taking Control of Your Financial Future
Imagine walking into your office tomorrow knowing exactly where your cash flow stands, which projects are profitable, and when you can expect every payment. This isn’t just a dream – it’s the reality for consulting firms that have tackled their cash flow challenges head-on.
One System Six client said, “Since controlling our cash flow, I’ve landed three new major clients. Those deals happened because I could focus on relationships instead of reconciliations.”
Your firm’s financial health doesn’t have to be a source of constant anxiety. With the right systems, support, and mindset, you can transform cash flow management from a continuous worry into a strategic advantage. The first step? Acknowledging that the actual cost of poor cash flow management isn’t just financial – it’s the opportunity cost of what your firm could become.
Take action today. Your future self will thank you for it.
About System Six
System Six is a modern, fully remote, cloud-based finance and accounting firm dedicated to providing exceptional services to service and software businesses. We specialize in bookkeeping, payroll, bill payment, invoicing, and sales tax filing, ensuring your financial operations are seamless and efficient. Our unique team-based approach brings decades of experience and expertise, managing day-to-day bookkeeping processes, finances, and technology stacks with a focus on sustainability and long-term, win-win relationships. At System Six, we believe that our clients’ success is our success, and we are committed to delivering excellence in every aspect of our work.
Contact us at hello@systemsix.com.
by Chris Williams | Mar 13, 2025 | Blog
Your desk lamp casts a lonely glow as your inbox is scattered with receipts and expense reports. It’s 9 PM, and instead of preparing tomorrow’s client presentation, you’re wrestling with reconciliations. Sound familiar?
I spoke with Sarah, a management consultant who has lived this reality for years. “Every Sunday night, I’d hunch over my laptop trying to make sense of the week’s transactions and remember what was what while my family watched movies in the next room,” she says. “I knew I was losing thousands in billable hours, but I didn’t see another way.”
The Real Cost of Manual Finance Work
Think about your typical month. How many hours do you spend categorizing expenses, processing payroll, or hunting down missing receipts? For most consulting firm owners, it’s about 15-20 hours – time you could spend landing new clients or delivering breakthrough insights.
But the cost runs deeper than lost billable hours. When you’re stretched thin managing finances, mistakes creep in. A missed tax deadline here, a delayed invoice there. Small errors that chip away at your firm’s reputation and keep you up at night. Consider this: a misclassified expense can trigger an audit, costing you more time and resources.
Breaking Free with Automation
Remember life before the GPS transformed navigation? No more wrestling with paper maps, printing MapQuest directions, or getting printed maps from AAA. Financial automation creates the same transformation for your firm’s finances. Here’s what changes:
When you open your laptop, your morning coffee is still hot. Instead of spending the first hour categorizing yesterday’s transactions, your automated system has already done it. Real-time dashboards show your cash position and upcoming expenses at a glance. One-click generates client invoices, and another runs payroll. Maybe your system all runs in Quickbooks. Or maybe it’s a combination of Ramp, Gusto and QBO. There are so many good tools out there now – the right combination for YOU exists.
“I can finally see our financial picture clearly,” says Tom, a strategy consultant who automated his firm’s finances last year. “The system flags unusual expenses, reminds me of upcoming tax deadlines, and lets me check our books from anywhere. I’ve reclaimed my evenings and weekends.”
A Real-World Transformation
Take Mark’s environmental consulting firm. Before automation, his team struggled with questions like “How profitable was that project?” or “Can we hire another consultant?” Financial data lived in various spreadsheets, and no one trusted the numbers.
Working with System Six to automate their finances changed everything. “They revamped our accounting system into accurate and dependable practices,” Mark shares. “Now I can pull up real-time insights from my phone between client meetings. We’ve grown 40% this year because I can focus on clients instead of paperwork.”
Another consulting firm owner adds, “System Six has done wonders for my stress level. They’re not just vendors – they’ve become part of our team, helping us develop better financial processes.”
Starting Your Automation Journey
Ready to reclaim your time? Start small. Pick your biggest pain point – maybe it’s expense tracking or invoicing. Look for tools that plug into your existing software, like QuickBooks Online. Ask yourself:
- Which financial tasks eat up most of your time?
- What numbers do you wish you could see instantly?
- Where do mistakes typically happen?
The path to automation doesn’t have to be overwhelming. Most firms can automate their basic finances within a month and add more sophisticated features as they grow comfortable with the system. Think of it like learning to drive – you start in an empty parking lot before hitting the highway.
The Power of Time Regained
Imagine walking into your office tomorrow knowing your finances practically manage themselves. Your books are always current, your tax deadlines are tracked automatically, and you can instantly access any financial insight you need. What would you do with those extra 15-20 hours each month?
One consulting firm owner told me, “Since automating our finances, I’ve landed three new major clients. Those deals happened because I could focus on relationships instead of reconciliations.”
Take Action Today
Your financial freedom starts with a single step. Take five minutes right now to list your most time-consuming financial tasks. That list is your roadmap to automation. Remember, every minute spent on manual financial work is not spent growing your business or serving your clients.
The tools exist. The success stories are real. The only question is: What will you achieve when your finances run themselves? Take the first step towards financial freedom today. Start your automation journey and see the difference it can make for your consulting firm.
About System Six
System Six is a modern, fully remote, cloud-based finance and accounting firm dedicated to providing exceptional services to service and software businesses. We specialize in bookkeeping, payroll, bill payment, invoicing, and sales tax filing, ensuring your financial operations are seamless and efficient. Our unique team-based approach brings decades of experience and expertise, managing day-to-day bookkeeping processes, finances, and technology stacks with a focus on sustainability and long-term, win-win relationships. At System Six, we believe that our clients’ success is our success, and we are committed to delivering excellence in every aspect of our work.
Contact us at hello@systemsix.com.
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