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Not sure if you need space for deliverables, and stuff like that, or just reporting thereof. Anyway, this is what I've been using for my freelancing. There's lots of stuff about it I don't use that is made for larger groups(10+) things like timekeeping, expenses, estimates, project task delegation, even client areas and client viewable dynamic progress reports on each project with static links to these reports. They guy who makes the software is really awesome about support as well. The whole focus is keeping everything simple and not having a bell and whistle for every little thing. Yet I find it has a ton of versatility. Check it out if you get a chance.
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