• What consultants need from invoicing software
  • Worked example: a fixed-fee engagement with a deposit

The right invoicing software for a consultant matches how you price your work. That could be a monthly advisory retainer, hours tracked against a project, or a fixed fee with a deposit up front. It should also let you bill travel and other reimbursable costs, turn an accepted quote or estimate into an invoice, and give clients an easy way to pay. Below is what to check, a sample engagement, and what five tools say about themselves on their own pages.

Billed publishes this page. Billed is listed first, and the other tools follow in alphabetical order. The order isn't a ranking, and we didn't test these products. Each description and price comes from the vendor's own pages, opened on October 29, 2026. Prices and plans change, so check each pricing page before you buy.

What consultants need from invoicing software

  • Estimates or quotes that become invoices, so the approved scope carries through to billing.
  • Recurring invoices for monthly advisory retainers.
  • Time tracking for hourly or time-and-materials work.
  • Deposits, if you ask for part of a fixed fee before you start.
  • A way to bill reimbursable expenses, such as travel, on their own lines.
  • Online payments, reminders and multiple currencies, for clients in other countries.

Worked example: a fixed-fee engagement with a deposit

The figures here are a sample. A consultant agrees on a fixed fee of $18,000 for a strategy project, with 25% due before work starts. The rest is due on delivery, along with reimbursable travel at cost.

  1. Deposit invoice: 25% × $18,000 = $4,500.
  2. Remaining fee: $18,000 − $4,500 = $13,500.
  3. Travel at cost: flights $410 + hotel $230 = $640.
  4. Final invoice: $13,500 + $640 = $14,140.
  5. Check: $4,500 + $14,140 = $18,640, which is the $18,000 fee plus $640 of travel.

On the final invoice, refer to the deposit invoice and the statement of work, and list the travel with dates. That lets the client's accounts payable team match each line. See guide to deposit invoicing.

What each tool says it does

Billed

Billed's invoice software page says you can "convert an approved estimate into an invoice, and bill for time you have tracked." For retainers: "For clients you bill on a schedule, set up a recurring profile once." It also says you can "Invoice customers in multiple currencies, choosing a different currency for each invoice or customer," and "Payment reminders can be customized." Billed's features page says, "Yes you can add files with invoices and estimates."

Billed's pricing page lists a Free plan with 3 invoices, Pro at $99.99 a year with unlimited invoices, and Premium at $250 a year.

FreshBooks

FreshBooks' invoicing page says you can "Request deposits on estimates," "Dedicate a specific number of hours to your client's retainer and schedule work against that amount," and "track your hours and client expenses, then turn them into professional invoices in seconds."

On October 29, 2026, FreshBooks' pricing page showed a limited-time discount on its plans, so see that page for current prices.

QuickBooks Online

QuickBooks' invoicing page says you can "Go from quoting a job to invoicing for it without re-entering data" and "Collect deposits ahead of time, so you don't have to front the cost of a job." It also says, "When customers pay through QuickBooks, we'll record and match it for you."

QuickBooks' pricing page listed "QuickBooks Free" at "$0/mo" on October 29, 2026. Its paid plans showed "50% off for 3 months," so see that page for current prices.

Xero

Xero's invoicing page says you can "Set up repeating invoices for regular customers and let Xero auto-fill their details," and "Turn accepted quotes into invoices too." It also says Xero can "send payment reminders to customers for you."

This guide doesn't list Xero's plan prices: on October 29, 2026, its US pricing page showed a reduced price for each plan's first 6 months. The same page says Early includes "Send quotes and 20 invoices."

Zoho Invoice

Zoho Invoice's home page says you can create "custom quotes outlining your payment terms, deliverables, and terms of sale. Once approved, automatically convert them into invoices." It also says you can "Record billable expenses like fuel charges and raw material costs, and convert them into invoices," and "Track billable hours, invoice timesheets, and charge customers accurately."

Zoho Invoice's pricing page says: "Zoho Invoice has been made free to cater to the needs of small business owners, freelancers, and entrepreneurs."

How to choose

  • Start with how you price: retainer, hourly or fixed fee.
  • If you take deposits, check that the tool describes them. FreshBooks and QuickBooks do on their invoicing pages.
  • If you bill travel and other costs, check how expenses get onto invoices. FreshBooks and Zoho Invoice describe this on their pages.
  • If you also want full bookkeeping, QuickBooks and Xero describe accounting features on their pages. Ask your accountant what your books need.
  • Check plan limits on invoices and clients against your practice.

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Frequently Asked Questions

What should consultants look for in invoicing software?

Estimates or quotes that turn into invoices, recurring invoices for retainers, time tracking, deposits if you take them, a way to bill reimbursable expenses, and online payments with reminders. Check each one on the vendor's own pages.

How do consultants invoice a deposit?

Send a deposit invoice for the agreed share before you start, then show it on the final invoice. In the sample, a 25% deposit on an $18,000 fee is $4,500, and the final invoice is the remaining $13,500 plus $640 of travel, or $14,140.

How should consultants bill travel expenses?

List each cost on its own line, with the date and what it was for, apart from your fees. Bill it the way your contract says, for example at cost. Keep the receipts in case the client asks for them.

Which of these tools turn quotes or estimates into invoices?

Billed, QuickBooks Online, Xero and Zoho Invoice each describe turning an approved estimate or quote into an invoice on their own pages. FreshBooks describes requesting deposits on estimates.

Is this page a ranking of the tools?

No. Billed publishes this page, Billed is listed first, and the other tools are in alphabetical order. The descriptions come from each vendor's own pages, opened on October 29, 2026, and we didn't test the products.

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