Time is money, but this is just partially true.
Jim Rohn said: “Time is more valuable than money. You can get more money, but you cannot get more time.”
Indeed, with the billable hours tracker, you cannot get total time, but you can get more free and productive time.
In the professional service industry, the only product that the company sells, in a bottom line, is a time i.e. billable hours. As time is a limited resource, companies should pay special attention to time consumption. Only with efficient time management can the companies grow healthy and measure key performances such as profitability and productivity.
How Can You Track Your Billable Hours?
Tracking billable hours is the main reason service companies are implementing time management solutions. With billable time tracker, the companies can:
- Reduce unproductive time
- Create more free time
- Improved return on investment (profit on hour engaged)
- Be fair and transparent in invoicing to the clients
- Optimize billable hourly rates
- Evaluate employee’s work
A List of Best Solutions
Time Analytics is an online billable hours tracker that helps its users keep track of billable hours and improve the profitability of projects. The platform tracks time utilization and efficiency and reduces unproductive hours.
With Time Analytics, you can accurately track each task your team performs and charge for each billable hour.
Time Analytics is an easy software to track billable hours and the perfect solution for the professional service industry.
- Work hours tracking per employees, clients, projects, and specific tasks
- Billable and non-billable hours management
- Expense management – tracking labor and overhead cost per client or project
- Comprehensive timesheet management
- Client’s profitability management (tracking billable hours and costs for each engagement)
- Invoicing assistant – no surprises to clients with transparent invoice appendix
- A relatively new platform and with features that are still developing, such as task management (via Kanban list) and billing automation
- A free plan is available with a limitation to five users and 30 projects/clients
- Starter — $4.99 per user per month ($4.29 for an annual license subscription)
- Optimum — $6.99 per user per month ($5.99 for an annual license subscription)
- Premium — $12.99 per user per month ($10.99 for an annual license subscription)
There won’t be a price increase with the implementation of new features.
- Insight into all activities done within a company
- Preparing data for the invoice, based on hard facts
- Reviewing which activities are billable/unbillable
- Problems with exporting data
- Problem with loading data
Trial Period and Payment
You can use the full-featured version for 60 days, which is the longest free trial period among all apps reviewed in this article.
No credit card is required for the trial period. If you want to keep using the software after the trial period, you’ll need to choose a pricing plan and pay for a monthly or annual license with a credit card or via wire transfer.
2. Amberlo – Track Time for Easy Billing and Other Benefits
Amberlo is primarily suitable for law firms, but it can be used across the entire service industry.
Amberlo is a tool for managing time and tasks that allow you to focus on essential matters. Besides recording billable hours and time billing solutions, this time tracking tool provides more options for the management of the entire business.
The software has ISO/IEC 27001 and ISO/IEC 27017 certifications, which is proof of security. Amberlo also uses SSL for encrypting all network traffic as well.
- Billable time and expense tracking
- Legal billing
- Matter management
- Contact management
- Document management
- Rates management
- Email management
- Trusted accounting — account balances for every client and matter
- Grow — € 25 per user/month when billed annually, and €30 when billed monthly
- Premium — € 35 per user/month when billed annually, or €40, when billed monthly
- Elite — € 55 per user/month when billed annually, or €70 when billed monthly
- A seven-day free trial is also available.
- Very good and effective tool
- Easy access into a database
- Easy to understand how many billable hours are there for specific matters and clients
- The necessity of developing a mobile application
- Missing document integration with google drive or Dropbox
- Confusing billing options
3. BambooHR – Easily Billable Time Tracking Software
At its core, BambooHR is human resources software with the feature of time tracking. It’s made for small and medium businesses. This is an excellent solution for employee tracking, i.e. collecting and analyzing employees’ data and improving their performance.
- Time and attendance tracking — punch cards, timesheets, calculating employees’ hours
- Compensation mode
- People and data analytics (employee records, workflows and approvals, reporting)
There are a few pricing plans, but the information isn’t publicly available. However, you can get the info on demand.
Moreover, there’s a free seven-day trial.
- Allowing employees to upload documents directly into their files
- Quickly sharing information with the whole team
- Self-serve is very user friendly
- BambooHR onboarding is stress-free
- No direct 1:1 communication
- Needing additional categories
- The tracking system needs a lot of improvement
- There are not many customization tools
4. ClickUp – Save One Day per Week
ClickUp is a simple tool that covers the majority of business processes. Not only is this software suitable for billable and non-billable hours tracking, but it also offers all in one place: task management, documents management, team collaboration, and much more.
- Process management (checklist templates, multiple assignees)
- Task management (filter and search, recurring tasks, task tray, multitask toolbar)
- Automatic time capture
- Backlog management
- Billable and non-billable hours
- Time management (due dates, time estimates, timeline view)
- Billing and invoicing
- Collaboration and reporting
- Budgeting and forecasting
- Bug tracking
- Apps and devices (mobile, desktop, web, Amazon, Alexa)
ClickUp is integrated with the following apps: Slack, Everhour, Toggl, Harvest, One Drive, Outlook, Google Calendar, Zoom, Microsoft Teams, and many others.
- Free forever – Unlimited tasks, five seats, 100Mb of storage
- Unlimited – $9 per member per month, paid monthly (unlimited tasks, seats, custom views, and storage)
- Business $19 per member per month, paid monthly (unlimited tasks, seats, custom views, and storage)
- Enterprise –you’ll need to contact the ClickUp sales team to get the details on the plan
If you pay annually, you’ll save 45%. ClickUp can be paid via a credit card, while enterprise orders can be paid with a bank transfer.
- Simplicity and functionality
- A lot of customization features
- Multiple views give each person the ability to view content in the format that suits them best
- The need to work on improving the mobile application
- The subscription cost is a little bit too high.
- There is a disconnect between Goals (or KPIs) and the tasks associated with them
5. Due Time Tracking – Accurate Billing and Productivity Booster
Tracking of billable and total hours is a core feature of this tool. With Due Time Tracking, you can maximize your team’s productivity and make accurate billing. The software provides a lot of benefits, such as tracking the duration of each project, building trust with your customers based on fair invoicing, speed in bill preparation, complete payments, and more.
- Complete payment solutions
- Hours time tracking
- On line invoicing management
- Digital wallet and credit card processing
Pricing plans aren’t publicly available.
- Bringing together all invoicing and payments on a single platform
- Possibility to make larger and international payments to other businesses securely
- Sending invoice via email right from the site
- Limitation to billing flexibility
- Unpossible to set up hourly billing
- Little expensive to set up additional vendors
6. Nexonia Expenses – Automated Timesheets
Nexonia Expenses is a very simple cloud-based app for expense tracking and timesheets.
This employee timesheet solution keeps your team’s time and expenses under control, enables integration with your ERP, and eliminates the need for manual reporting and compliance.
With Nexonia Expenses, you can track billable time against projects and rates, and export them into the ERP or billing platform.
- Effortless time tracking from anywhere, including time off
- Task tracking
- Mobile and desktop access
- Rapid deployment
- Expense management
- Insightful reporting
- Account receivable tracing
The prices are not available on the Nexonia Expenses website.
- Capturing images of receipts directly on their phones
- User-friendly platform and a great app to use for expenses.
- The super-easy and clean app interface
- Less intuitive app
- Experienced issues with syncing credit feeds
- Sometimes the web page loads slow and data
7. Accelo – Profitability and Productivity Improvement Tool
This tool is primarily focused on sales and billing processes. It can help you unify your tasks, maximize billable time, control your workflow, and effectively utilize your resources.
Accelo is integrated with leading platforms, such as Quickbooks, Mailchimp, Slack, PayPal, Hubspot, Stripe, Salesforce, and many others.
- Project planning, tracking, and collaboration
- Billable and non-billable time tracking software with an automated timesheet system
- Expenses management
- Cloud-based ServOps
- Invoicing (synchronized with Xero and Quickbooks) task management and team scheduling with automated notification
Pricing starts at $39 per user per month for annual license payment.
You can also try Accelo free for 14 days.
- Fast responding in case you have any questions or issues
- The ability to just submit a time if you forgot to start the timer
- The onboarding and training is exceptional
- The search option is limited to Subject/Title
- Not able to easily move tasks to a new retainer period
- The interface doesn’t refresh itself when renaming a task
8. actiTime – Record Work Hours and Keep Everything on Track
actiTime is a perfect online platform that enables you to record team hours and keeps everything on track in your company. actiTime is a simple cloud-based solution that is focused on time tracking and task progress management.
The onboarding is effortless and comes with full tutorial options, making it easy to track billable hours and deadlines for each task.
You can create new projects in the actiTime intuitive interface for each client. Moreover, you can create specific tasks within projects. There are also different types of tasks and time reviews (kanban view vs. list).
- Time-track — tracking hours per customers, projects, and tasks (time entries, view, lock and approve option)
- Simple timesheet tracking (daily or weekly timesheet reviews)
- Work assignment management
- Project team organization (Kanban board)
Prices are defined according to the number of users:
- 1–40 users — $7 per user per month (billed monthly)
- 41–200 users — $6 per user per month (billed monthly)
- 200+ users — fixed price
There are also discounts of up to 15% for annual license payments.
Thousands of companies around the world use actiTime: Siemens, Johnson Electrics, Dell, Xerox, Cisco, and others.
The company offers a fully functional trial version with unlimited users for 30 days.
- Analyzing the cost of various work activities
- Collect data using useful reporting tools
- Having a follow-up time on a weekly timesheet
- The free version has certain limited or unavailable functions
- A menu isn’t easy to understand
- This program has an obsolete design
9. Everhour – Accurate Time Tracker for Budgeting, Client Invoicing and Painless Payroll
Everhour is a cloud-based solution that provides easy billable hours tracking, tasks, projects management, and invoicing. The software is integrated with Asana, Trello, Basecamp, Jira, ClickUp, GitHub, Pivotal, and Slack.
- Budgeting and time billing – easy to use project billing to the clients and tracking project progress in real-time
- Time tracking – track billable and non-billable hours with deep insight on time allocation per tasks and breaks for each team member
- Task management –organize and track all created tasks per projects
- Expenses controlling –track the direct expenses of each employee per different projects
- Reporting – detailed reports and dashboard for time utilization, billable hours, and project budgets
- Billing based on time –create accurate invoices with minimal effort
Pricing starts at $10 per user per month (or $8 in case you purchase an annual license). The minimum fee is $50.
The company offers a fully functional two-week free trial.
- Simple and intuitive interface
- Solid integrations with task management software
- Responsive and provides the right level of functionality
- Unable to create invoices and bill client
- The time approval feature has caused some glitches
- The pricing model is a little expensive
10. Flowlu – Business Management Software
Flowlu is the perfect online invoicing software that allows you to make transparent and accurate invoices and online payments. The online platform also provides automated invoices that include billable hours for your team.
- Invoice management – the platform allows you to share and send an invoice to clients, and create different invoice templates and recurring invoices (with predefined invoice approval)
- Time tracking –tack how many hours your team spends on each task, calculate billable hours, and invoice customers automatically
- Online payments –various payment gateways available
- Project and task management
- Full reporting – Flowlu provides many reports including simple graphs
- Free plan (limited to two users and one GB of storage)
- Team — $39 per month (limited to eight users and ten GB of storage)
- Business — $74 per month (limited to 16 users and 50 GB of storage)
- Professional — $149 per month (limited to 25 users and 100 GB of storage)
- Enterprise — $249 per month (unlimited users and 1000 GB of storage)
You can get a 20% discount if you decide on an annual payment.
A 14-day free trial is available upon sign-up.
- The invoicing is also a very nice way for me to run business end-to-end
- The UI has a modern look and feel
- It’s easy to navigate different areas, mainly using a menu on a left bar area
- There is no real-time human support
- The missing features that are a must – a client portal, contract signing, and telephony integration
- User interface all need integration with another app
11. Hourly – Recording of Billable Hours
Hourly is a simple and intuitive app that helps you track the time and expenses of people, projects, and clients.
You can integrate Hourly with Trello, Xero, Slack, Asana, Jira, Messenger, Microsoft Teams, and Skype.
- Fast and easy time entries
- Comprehensive timesheets
- Expenses allocation to the project
- Project and clients management
- Insightful reports with time metrics
- Billing based on billable hours tracked
- Starter (for individuals — freelancers and consultants) — $5 per user, per month
- Professional (for small to medium-sized businesses and teams) — $10 per user, per month
- Enterprise (customized solution for larger organizations) — $30 per user, per month (volume discount is available)
Hourly allows a 30-day trial period.
- Customer service is best and responsive and provides an immediate solution to any question
- Simple to understand
- Ability to schedule employee tasks extraordinarily fast and then schedule with push-button ease
- More transparency is needed for employees and employers to break down costs
- Need for extending services to cover Business taxes and Accounting
12. Hours Tracker – Manage Time and Jobs in a Few Taps
Hours Tracker is a very simple mobile app that you can download from the Apple store. However, a desktop version isn’t available. The app provides easily billable hours time tracking. You can see your timesheets by day, week, or month. The app also calculates pay periods, as well as overtime pay, and pay estimates.
Working in Hours Tracker, your employees will improve focus on tasks and productivity.
- Location use for time recording
- Arrival or leave notification
- Simple reporting with many filters
- Jobs management
13. Hubstaff – Leading Time Management Tool — Find and Fix Money Leaks
Hubstaff is a very simple yet comprehensive billable hours tracker with over 70 thousand active monthly users. You can automate your employees and tasks management with this platform.
Hubstaff is integrated with project management apps such as Asana, ActiveCollab, ClickUp, Breeze, Jira, Paymo, Trello, Wrike, Zoho projects, etc. Besides, the platform also integrates with accounting and invoicing apps such as Freshbooks, Quickbooks, Payoneer, PayPal, and Gusto.
- Central dashboard (track activity and work time, view locations, run payroll, set budgets)
- Billable and non-billable time tracking
- Online timesheets with detailed time records spent on projects (including timesheets approvals and time off recording)
- Work tracking based on custom locations
- Employee monitoring, screenshots, tracking employees’ apps and URLs
- GPS tracking
- Projects budgeting
- Payroll management and payments
- Job and task assignments and monitoring and employee scheduling
- Accurate and automatic online invoicing
- Productivity manager
- Free – limited to one user
- Basic — $7 per month, per user if billed monthly ($5.83 if billed annually)
- Premium — $10 per month, per user if billed monthly ($8.33 if billed annually)
- Enterprise — $20 per month, per user if billed monthly ($16.67 if billed annually)
If you want to try Hubstaff, you can try the 14-day trial version.
- Encouraging emails on days when your activity is high
- The activity/screen tracking makes the process of managing a large remote workforce
- It is straightforward to use
- Payroll integration is a bit messy
- Tracking status notifications are sent twice instead of once.
- It doesn’t have the option to track overtime easily
14. Streamtime – Job Tracking in Real-Time
Streamtime is a seamless time-tracking tool with a flexible interface and visual schedules.
Streamtime allows project and team management, job planning, work hours time tracking, scheduling, invoicing. and reporting.
The platform is integrated with Xero, Quickbooks, Zapier, and many more apps.
- Time tracking
- Quoting (team plan transformation into quotes)
- Visual scheduling team task and job planning
- Collaboration (write comments and keep your team posted)
- Kanban board for tasks and projects
- iOS app
- Option one – fixed price by agreement with the sales team
- Option two — $40 per user, per month
There’s also a free 30-day trial.
- Access information on desktop and mobile devices
- Easy to use and deploy.
- Very competitive price
- Requiring a complete restart of Chrome to fix the issue.
- Lack of customized quotes, purchase orders, and invoices
- Lack of template customization
15. Timeular – Unlock Your Time
Track where your team’s time really goes with this intuitive app. Timeular allows you to improve your employees’ productivity and potential. So, how does it work?
- STEP 1: Assign – crate team, projects, and tasks in the app and customize the workflow
- STEP 2: Track – use the tracker to start recording the billable hours
- STEP 3: Report – get insight reports
Timeular is available on macOS, Linux, Windows, Android, and iOS, and is integrated into Zapier, Jira, Harvest, and Toggl.
- Hours time tracking (set activities and tasks, create teams, projects, get valuable reports, see where your time goes, and export your timesheets)
- Employee tracking (track, analyze your team’s tasks and actions, assign activities to the employees)
- Workflow automation
- Excellent analytics of billable and non-billable hours
- six-month license — $79
- 12-month license $129
- Lifetime deal —$249
- The app is well designed
- It’s easy to use and sync easily through different devices
- Super easy transition to incorporate into the daily work routine.
- The application versions on phone do not respond correctly
- It needs an improvement on the reporting function
- Too basic app
16. Qlaqs Timesheet Pro – Time Management — iOS
Qlaqs Timesheet Pro is a very simple mobile billable hours tracking app. This app is available only on Apple’s App Store. With Timesheet Pro, you can track time across teams, projects, and clients, as well as work tasks on iPhone, iPad, or PC. The platform contains many types of timesheets for clients and employees.
- This app can be used for an unlimited number of tasks and clients
- Billable hours tracking in different ways (use the stopwatch with a start/stop function, log time manually for projects, tasks, or clients, edit time records editing)
- Export timesheets to PDF, CSV, Excel
- Tag fiction for billable and non-billable hours
- Excellent view of active clients, projects, and tasks, as well as archived time views
- Hourly rates management
- Time rounding
- GPS tracking
- Easy and intuitive interface
Pricing starts at $3.99.
17. Timewerks – Mobile App for iOS
Teamwerks is a mobile app for billable time tracking and invoicing available only for iPhone and iPad.
Since this is a mobile app, you can download it from the Apple Store for free.
18. Dovico – Work Hours Tracking, Bill All the Time You Work
Dovico is a modern hour tracking cloud-based platform with many useful features. This tool allows project time and costs management tracking with perfect online timesheets for employees.
When you log in you’ll see the interface with structured entry fields. You should fill in the project name, client name, and other data, such as employee name, pay rate, overtime pay rate, and project hourly rates. After the initial set-up of employees, clients, and projects, you can start with managing your workflow.
- Employee time tracking by client, project, or task
- Timesheet management
- Labor costs and expense management
- Billable and non-billable hours management
- Reporting and notifications
- Vacation and time off tracking
- Mobile time tracking
- Multiple billing rates and currencies
- Project resource planning
- DCAA Compliant
Starter — for up to five users and ten projects
Basic — $8 per user, per month
Professional — $15 per user, per month ($13.5 for annual payments)
Premium — $21 per user, per month ($18.90 for annual payments)
- Adding multiple projects under one profile
- Ability to create different timesheets for different projects
- Easy access from any browser
- The price is a bit high
- Difficult to edit the timesheets once they are submitted
- There’s no mobile or desktop component for tracking start/stop events for projects
19. Traqq – Track Work Hours and Monitor Employees Ethically
When you need to track your employee’s time without harming their privacy, your best bet is to use Traqq. As soon as the user clicks Start, this app records their billable hours automatically. What’s more, it ensures accountability by taking random screenshots and video recordings of a user’s desktop. Even so, Traqq still promotes ethical employee monitoring. The tool reduces the quality of the images to an extent that would prevent sensitive data from becoming legible.
- Smart alerts and notifications that will get you on track when you forget to activate the timer
- Works both online and offline, syncing data once the internet connection is restored
- Automated screenshots and 10-second video recordings
- Promotes ethical monitoring by reducing the quality of collected screenshots and video clips
- Detailed performance statistics and timesheets
- App and website monitoring to identify common time wasters
- Flexible individual and team reporting options
- Premium Starter – Free for up to three seats
- Premium Teams – $6 per seat, per month
- Enterprise – Customized package available for over 100 seats
- Easy to use
- The dashboards breaking down employee activity
- The interface is user-friendly
- The ability to switch between projects
- Absence tracker per project
- Exporting screenshots isn’t available with the report
Time Tracking Apps – The Benefits
Stop Using Paper Timesheets and Excel Spreads
Many offices used to rely on paper timesheets and Excel templates to track employee time. However, modern companies striving to increase productivity are turning away from these methods. In turn, managers and business owners are looking into digital billable hours software.
The main characteristic that sets a time tracking app apart from paper and Excel solutions is its versatility. Billable time trackers don’t simply track time, but also determine key metrics per client, project, employee, etc. This, combined with the usually low prices (often just a couple of dollars per user), is what makes a billable time tracker a great solution for any company looking to increase efficiency.
Additionally, billable hours software allows a great degree of efficiency as well, as it usually takes only a few minutes at the end of the workday to supply all information the software requires. At the same time, this data is used to automatically allocate time per project, client, tasks, and other categories.
Finally, time tracking software will send out weekly reminders to users who are lagging behind with filling their timesheets.
The Importance of a Simple Billable Hours Tracker
There are many time tracking platforms currently available. They vary greatly in complexity and quality, and you may be wondering which solution is the best for you.
You should consider the structure of your business and the people within it. Do they have a lot of time to fill different categories? Are they going to have the time and will they be willing to use it to figure out a complex time tracking system? Additionally, do they have the computer skills that will prevent them from taking a lot of time that should be used for work to keep up with their time trackers?
In other words, a simpler solution that takes little time to set up and use is the best option as long as it provides you with the necessary data.
Billable Hours Trackers Simplify Billing and Payroll
If you are in the service industry, you understand how important a company’s reputation is. Remaining reputable among your clients is a crucial part of growing your business. As any professional service business owner knows, there are some clients that will try to decrease their fees and question your pricing. Billable hours trackers are a great way to prevent losses, as they supply you with an itemized list of actions, resources, and hours invested in a specific project.
Basing your invoices on timesheet logs is a great way to prevent your clients from questioning your practices and fees. Especially so when it comes to the structure of billable and non-billable hours and activities.
A billable hours software solution is equally important when it comes to payroll. Firstly, timesheets are a mandatory addition to payroll documentation in some countries. Secondly, even if there are no laws concerning this practice, there are many benefits to having your employees log their time.
Simply put, timesheet software will give you an insight into your team’s productivity. This will allow you to see whether each employee is respecting the terms of their contract. It will also make the differences between the productivity of different team members obvious. You will know who are your top performers, and who, in contrast, needs some help or is experiencing burnout.
As you can see, tracking billable hours will give you all the necessary information concerning your clients and employees alike.
A good billable hours tracker will use the data it receives from its users to provide business owners with project profitability reports.
The insights you will be able to obtain through a simple time tracking program are highly valuable to your business. You will be able to track the status of all your projects, as well as many important progress indicators that will show both the current state of your company and its historic fluctuations.
Understanding project profitability will allow you to see if any of your clients are low-performing enough to start negotiating your fees or even terminate contracts with them. Once you optimize profitability, the number of billable hours will rise as well.
Optimizing the Hours Structure
Hours structure represents the ratio of billable and non-billable hours within a business’s total working time. A time tracking software solution will allow you to optimize this ratio. For a business, this means reducing the number of non-billable hours. You can do this by reducing the activities that take up a lot of time but aren’t directly contributing to your profit, i.e. daily meetings. Then you can dedicate the time you’d otherwise waste on tasks with higher billing rates.
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Personal Productivity Increase
Tracking billable hours can greatly benefit employees as well. Understanding your productivity and the way you spend your time at work is a great skill to possess, as it will allow you to use your most productive periods during the day to finish your most demanding or urgent tasks. Then, you can use the lulls to take a break, re-energize, or do some of the less important tasks, like email correspondence.
As you can see, planning a day according to personal rhythm can help an employee avoid burnout while still increasing productivity. For example, if you make your to do list for one day for week in time tracker, you can easily just track how much time you spent on each task. By insight in different reports about time consumption you will easily see where you lose your productivity.
There are many different labor laws in the world. They are vastly different depending on the region. However, they often also regulate the way you can and cannot track your employees’ time. for example, some time tracking regulations state that you cannot take screenshots of your workers’ computer screens during working hours.
Alternatively, there are regulations like the Fair Labor Standards Act (FLSA) that mandate accurate records of employee working hours. So, if your company is in an area that falls under the FLSA, you need to have some way of billable hours tracking in your company. Choosing the method is up to the company, but the records must be ready at all times for a government audit.
Billable hours software solutions offer the security of having the logs ready without investing much time or effort. All necessary documents will be available as soon as you need them.
Eliminate Buddy Punching
Some employees will clock in instead of their coworkers who haven’t yet arrived to work. This practice is commonly known as buddy punching. However, using a billable hours tracker makes it impossible.
Even though buddy punching usually covers for 5 to ten minutes, these numbers will add up over time. Once other employees see that this type of behavior isn’t monitored, they are more likely to mimic it as well. Hence, it is important to have specific time policies and make sure your employees know you take them seriously.
Register Overtime and React in Time
Many workplaces are seeing a rise in overtime, as it is becoming one of the staples of the modern office. There are many overtime regulations all over the world, that protect employee rights. Hence, employers most often have to pay higher fees for the time employees spend in the office while off the clock.
There is a variety of reasons for overtime. They range from simply forgetting to turn off a stopwatch, over backlogged work, or an increase in tasks to unproductive behaviors and even faking overtime to get compensated.
A billable hours tracker will immediately register and calculate overtime. Then it will automatically allocate the hours spent to clients and projects. Additionally, being informed about the overtime gives the managers and owners the possibility to react accordingly. The interventions can range from finding additional help and redistributing tasks to identifying and eliminating distractions.
Time Theft Prevention With a Time Tracking App
Time theft is one of the numerous problems business owners and managers will face. It is comprised of many different behaviors, but the results are the same – employees are compensated for the time they didn’t spend working. Here are some of the most common examples:
- Buddy punching
- Starting work later and finishing early
- Standing in for another employee while they’re absent
- Taking multiple long breaks
- Unauthorized and unnecessary overtime
- Tending to personal business
- Chatting with coworkers for large amounts of time
Avoiding time theft is one of the biggest benefits of billable hours tracking. Simply put, an employee who commits time theft will not be able to do the same amount of work as their coworker who doesn’t. You will be able to register the individuals who take unusually long to finish a certain amount of work.
Time audits are another benefit of time tracking that can help curb time theft even more. They are beneficial to the employees as well, as they will help them understand their work rhythm. In other words, they’ll understand how to organize their work so they avoid overworking themselves.
Tracking Time Off Automatically
A team’s integrity depends on clear communication and high functionality. Hence, every organization needs to have a clear and consistent time off policy. Planning shifts and knowing when you won’t be able to rely on a certain team member makes the entire company more functional and united.
A billable hours tracker logs attendance automatically, so you’ll have a clear overview of who’s in and who isn’t. This way, you’ll be able to avoid meeting clashes or being understaffed.
Tracking and Assessing Expenses
Billable hours solutions will calculate the total price of a working hour. The price is comprised of direct and indirect (also known as overhead) expenses. Once it calculates the cost of the working hour, the system will allocate expenses to projects and clients according to the logs.
Simply put, a time tracking platform is a powerful cost management tool as well. It can help you simplify this activity, which will significantly improve overall productivity.
Billable Hours Trackers – FAQ
How Does a Billable Hours Software Solution Work?
Your employees will log the time they spend on a certain task and client. They can mark these hours as either billable or non-billable, and enter their hourly billing rate. Then the system allocates the time and costs to the client.
Once you create a billable hours chart that encompasses all your needs, you can use it as a template and never have to create it from scratch again. Your employees will just follow the pattern and enter their data quickly, without disrupting their workflow.
Usually, the employees can track their time through manual input or an automatic stopwatch. Once it receives enough data, the program will deliver reports on productivity, time usage, top, and low-performing clients and employees, etc.
Should My Employees Have Privacy Concerns?
Implementing a new business practice on a company level is rarely easy. Especially so if the practice in question could create privacy issues for your employees. Time tracking is, understandably, one of those practices, since it makes them log their activities during the entire workday.
Keeping a billable hours chart can greatly impact employee morale. Hence, employee privacy should be one of your main priorities when choosing a billable hours tracker. The platform you pick should allow the employees a level of control over the data that is shared.
This is impossible with software solutions that monitor documents, apps, and web pages employees use during the day. Even worse, there are also platforms that take screenshots or monitor keystrokes and mouse activity.
You can see why these methods are too invasive, as well as why your employees would feel like you don’t trust them enough. However, an automatic timesheet program will give you accurate data while maintaining a sufficient level of privacy.
Billable Hours Software and Security
Time tracking software goes deeply into the ways your business functions. Usually, the platforms ask for a certain amount of both personal and business information. Hence, security concerns are absolutely in place. In other words, if you are looking for a new time tracking platform, you should first make sure your company’s and employees’ data will be secure.
Is a Time Tracking App Useful to Big and Small Businesses?
Time tracking apps are beneficial to companies of all sizes. This is true because detailed time tracking will help save time and money even for a freelancer. Some of the benefits include
- Understanding the way you should organize your time
- Finding the top performers among employees and clients
- Recognizing negative business practices
- Calculating invoices and payroll
- Equal and just task distribution
As you can see, these results are beneficial for any business, no matter its size.
Can I Use a Free Time Tracking Application?
If you are looking for a time tracking app, you may have noticed the wide variety of platforms, the features they offer, as well as their pricing points. Some platforms offer free versions or are completely free. As there are no universal solutions for all businesses, some companies will gladly use the free versions and never have a problem.
However, if you want more reliable software with more features or better reporting functions, you will probably have to invest in a paid version.
The Prices of Time Tracking Software
Billable time trackers usually cost only a couple of dollars per user per month. This isn’t a great expense for smaller teams but can add up to a lot if there are many users to track. Our platform offers multiple discounts for clients with many users. You can see the discount options Time Analytics offers on our Pricing page.
Salary.com has conducted research that showed that time theft is a serious problem in many companies. Their assessment put the total losses in US companies around 400 billion dollars. Time theft doesn’t only impact the profit, but also the business’s reputation.
The number of wasted hours varies significantly, but the worst cases are among 21% of employees, who admitted to wasting up to 5 hours during their workweek. The extreme 3% reported wasting 10 hours, or over an entire workday.
If you are planning to maintain or improve the overall productivity in your workplace, it is time to get a good billable hours software solution. This way you’ll be able to reap the benefits of a productive team while not overwhelming your employees with tasks they can’t complete.
Summary of the best billable hours tracker
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