Published: 02/14/22
Why Should You Use Time and Billing Software?
Your time is very precious. You might get your money back, but you cannot get back time wasted. In order to track your time more efficiently, you should use time and billing software for accountant that can make sure that your services are more profitable. This software help you spend less time figuring out who has been working for how long, and how much they need to be paid. Having such software can ensure that you only focus on the growth of your company
A good time tracking and billing software help with:
- Keeping the billing process easy
- Monitoring the performance of employees, helping you decide which employees need to be rewarded
- Solve time organization problems
- Better budgeting and accurate estimates
- Transparency
- Streamlining time tracking across a number of projects
- Utilize paperless timesheets
- Workflow automation
- Eliminate awkward conversations with clients
- Ensure right pricing of services
- Manage finances
It is a difficult process of finding good software that meets all the needs of an accountant, bookkeeper, or CPA firm, so here is a list of the best time and billing software for you.
-
TimeCamp – free time tracking software for accountants
TimeCamp is one of the free time tracking software that includes accounting features. Using this software you can keep track of your business expenses, manage all your projects in one single place while controlling the budget and its margin. It helps you manage payroll and control all the administrative procedures.
This software helps you track time automatically using the desktop app that keeps working in the background and using timers, or you can even add the time manually. It automatically generates timesheets and reports that can make it easier for you to access all the information about all your costs and projects.
TimeCamp is a very intuitive, easy-to-use, and flexible software with a wide range of functionalities. Some of its best features include:
- Adjusted billing rates for each specific project and user
- Allocation of specific budget to people and projects
- Accurate prediction of future expenses
- Tracking of billable and non-billable hours
- Creating quotes and defining taxes
- Integrations with Xero and Quick books
- Exporting invoices to different accounting software
- Reports can be customized according to different pay schedules
- Creation of sharable invoices
- GPS trackers
- Better management of tasks by the creation of subtasks
TimeCamp is a very flexible software that is available as a free tool. It offers unlimited users and integrations with other apps. It has a 14-day free trial that allows you to experience all the features. The basic plan starts from $7 per month and user.
Xero is a time and billing software designed specially to provide accounting services and includes a lot of helpful functionalities. Xero provides an online accounting platform that can provide you with a complete business solution. It allows you to connect with your accountants, your banks, your accounting tools, payment services, and third-party apps so that all your data is available on all your devices, at any given time.
Some of the features Xero offers are:
- Collaboration with clients
- Tracking and paying bills
- Sharing information with clients
- Simplification of employee expense and reimbursement claims
- Capturing costs, submitting and approving, and spending
- Setting up bank feeds
- Online invoice payments
- Tracking of project profits by preparation of estimates and quotes
- Built-in timer
- Monitoring of profit margins
- Preparation of inventory and full contact history
- Automatic calculation of sales tax on all transactions and preparation of sales tax returns
Xero offers a 30-day free trial, after which you can decide which plans to choose. The prices start at $11 per month.
BigTime is a fully-featured professional service automation tool that helps bring all the information for a company in one place. Projects and time management are brought together by BigTime’s broad features focused on IT firms. It provides a centralized platform for all your operations and you can track the progress of all your projects and expenses in real-time. It allows allocation of resources and management of finances. Some of the best features of this software are:
- Timesheet app showing all the time spent on projects and out of office activities
- Expense tracking
- Online portal for submission of expenses and option of attaching scanned receipts
- Define and assign tasks through project management features
- Built-in billing and invoicing tool
- Business analytics and tools
- Automated calculations of expenses and multiple billing rates as well as receipt management features
- Third-party integrations with QuickBooks, Slack, and Zapier.
It offers a 14 day free trial with pricing starting at $7 per month per user.
Harvest is one of the leading time tracking software that helps you manage your billable time. It also helps track all your expenses and turn your billable expenses and time into invoices that can be paid online and sent to clients.
Whenever you are at your limit and are on the verge of exceeding the budget, Harvest sends you a notification that can help you control your expenses. It is a great tool for keeping track of all the time spent on work and its budget. It allows you to ensure that your profits are profitable. Some of its best features are:
- Online invoicing
- Estimates and expenses
- Powerful reports
- Simple time tracking
- Third-party integrations
- Security and privacy
- Add ons
It offers a 30 day free trial with pricing starting at $12 per user per month.
Jetpack workflow is workflow software that utilizes task management and projects to create a firm management solution. It is a cloud-based application that helps accountants automate and manage recurring client work.
You can customize the processes and standardize them to create an easy project workflow. You can also store documents and client information and share them with your team.
Some of the main features of this software are:
- Integrations with apps like Zapier
- Dashboard view
- Import client information via CSV file
- Reassign work to team members
- Automated summary emails
- Search for tasks, projects, and clients within seconds
- Add and duplicate projects across clients
- Keep track of what and when tasks are due
It offers a 14-day free trial with pricing starting at $36 per month which is billed yearly.
TaxDome is an integrated hub featuring a client portal that may seem a little bit complicated in the beginning but it is easy to navigate after you understand the navigation of tools. Some of the main features of this software are:
Automated workflows
User-friendly client portal
Time and billing
Customizable CRM
Secure and unlimited storage
E-signatures
SSL encryption
Messaging and more
TaxDome offers a 14 day free trial with pricing starting at $50 per user per month.
FreshBooks is known for its time tracking and invoicing features. It caters particularly to small and medium-sized businesses. Some of the main features of this software are:
- Expense and time tracking
- Management and reporting of payments
- Invoice branding
- Online payments and auto-payment reminders
- Tax summaries, profit, and loss statements, and expense reports
- Invoicing
- Billable hours and analysis of time spent on projects
- Categorization of credit card transactions fees
- Dashboard showing summary of all deposits
- Third-party app integration with Paypal, MailChimp, Zenpayroll, and Basecamp
It offers a 30 day free trial with pricing starting at $15 per month and is billed yearly.
Tick combines time tracking with projects. It is popularly integrated with the project management tool Basecamp and focuses on the management of the budget. Some of the main features of this software are:
- Timers
- Desktop app for mac and windows
- Exporting of reports
- Manual time entry
- Budget feedback through time cards instantly
- Chrome extension
- Integration with Basecamp, Trello and Asana
- SSL encryption
- Cloud-based
- Zapier support
- Invoicing options through FreshBooks and QuickBooks.
It offers a 30 day free trial with pricing starting at $19 per month which is billed yearly.
Tsheets is an employee timecard and time tracking software that has a robust web and mobile experience that allows users to log in from any location. Tsheets is an alternative to paper-based time cards and excel. Some of the best features of this software are:
Mobile tracking with GPS
Integration with QuickBooks
Simple payroll
Vacation, PTO, and timesheet approvals
DCAA/DOL Compliant
It offers a 14 day free trial with pricing starting at $20 per month plus $5 per month per user.
ZipBooks is a software that combines accounting features with time tracking. Some of its best features are:
- Customized invoices with messages and logos
- Online bookkeeping
- Bank integration and bank reconciliation
- Real-time reports of the business’s expenses
- Project management tools
- Built-in time tracker
- Streamlined communication
- Management of reputation and payroll integration
- Cloud-based
It offers a 30 day free trial with pricing starting at $15 per month and is billed per annum.
Conclusion
You can go through the list and choose the option most suitable for your business. Time and billing software can help automate your process and save the time that you could spend more productively.
