26 Best Timesheet Software Options for Accountants in 2022

The use of a timesheet software can be a highly effective tool for streamlining client work in your accountant firm.

According to our research of 1500 accounting firms, we identified that 60% of their employees do not use appropriate timesheet software or other digital tools for time tracking.  This creates a challenge for employers when it comes to evaluating:

  • time and cost allocation per each client or working task
  • profitability per each client, project, or service line
  • each accountant’s productivity

Time tracking for accountants and CPAs can help provide deeper insight into accounting business psychology. Timesheet automation is an essential component for any successful business, and helps to track revenue, cost budgeting, and growth.

Additionally, transparent data on time spent per each client, project or working task, provides the possibility for accurate billing, hourly rate optimization and evaluation of the accountant’s efficiency and productivity.

 

accounting firm timesheets app

Why Accounting Firms Should Use Automated Timesheets

Tracking Time Improves Profitability

If you own or manage an accounting firm, you often face a familiar challenge. You want to increase firm profitability, but find it difficult to  evaluate profitability per specific client and project. Without timesheet tracking and billing software, it’s harder to identify the clients and projects that are unprofitable.

What you need is a timesheet solution; something that tracks hours and costs per projects, clients, and work tasks. Without this, you can’t manage essential accounting firm metrics such as hourly rates, margins, and time utilization.

Managing People and Productivity

Without a timesheet software for accountants, it’s impossible to identify whose projects are low-performing or whose are top-performing. The report from the timesheet software answers some of the crucial questions including:

  • Are the right people involved in working on the right projects?
  • Do they spend more hours than expected with specific clients?
  • How does each accountant use their time?

Time Tracking Software Resolves Organizational Issues

Time tracking for accountants will allow management to have accurate information on how many hours employees spend on operational and routine activities, and to calculate overtime hours.

Additionally this allows for time spent on business development and education to be used in company ROI assessment.  In that way, everyone can save time and work will be work more efficient and strategic.

While there are endless choices out there for tracking and optimizing your working time, we’ve put together a list in one place so you can see the benefits and drawbacks of each.

Best Time Tracking & Timesheet Software

1. Time Analytics –Best Time and Billing Software for Accountants

Time analytics solution for accountants

Time Analytics Software is a simple tool that helps managers make smart business decisions and will improve your accounting firm’s performance. We know this because the software concept was initially designed by an accounting/consulting firm as a timesheet software for accountants. As a result, software users come mainly from the accounting, tax, and audit sectors.

Time Analytics tracks billable hours, effective time use, and cost of engagement. It also has the added benefit of excellent analytics for managing your clients, projects, and employees.

It takes a few minutes per day for each accountant to fill the timesheet, thanks to the simple workflow and accessible templates.

Say goodbye to timesheet headaches for good with Time Analytics Software.

Key Features

  • Simple online timesheets for accountants
  • Time-tracking per employee, project, client, and working task
  • Expense tracking (cost allocation for projects and clients)
  • Client monitoring (billable hours, total hours, how time is used, cost of engagement)
  • Productivity management
  • Invoicing assistant
  • Profit calculation per each client and project (feature under preparation)

Benefits

  • Close monitoring of profitability per each accounting client
  • Easy calculation of accurate hourly rates
  • Insight on low performing clients
  • Cost evaluation per each project/client
  • Insight on employee overtime
  • Transparent invoicing details

Timesheet solution for accounting firm

Pricing

Time Analytics offers four different plans:

  • The free version is available for up to 5 users. For the accounting firm that employs up to five accountants and doesn’t have high business volumes, this solution could be free forever.
  • Starter $4.99 USD / user per month– available for up to 15 accountants and 150 accounting clients.
  • Optimum $6.99 USD / user/month – available with both unlimited users and clients.
  • Premium 12.99 USD / user/month – available with no limitations on users and clients and includes profitability KPI tracking.

Discounts: For annual license payments Time Analytics offers a 15% discount. Addtionally, if you have more than 50 accountants (users), Time Analytics offers special discount pricing.

Trial Period

Time Analytics offers a 14-day free trial which is the longest trial period among all 26 presented solutions. We wont’ even ask you to submit your credit card info during the trial period.

Try Time Analytics free for 14 days.

2. Tick– Time Billing Accounting Software

Tick time tracking and billing software for accountants

Tick timesheet software for accountants is suitable for both freelancers and big accounting enterprises. This time tracking and accounting billing software offers a minimalistic app that tracks the duration of certain activities and gives you insight into how much time is spent on each task.

It integrates with other accounting software, making the work smooth and automatic.

Key Features

  • Simple time management software for accountants
  • Instant budget feedback in the timecard
  • Works across all platforms — PCs, tablets, smartphones
  • Creates multiple timers for different tasks
  • Reports time by person or task

Benefits

  • Saves about an hour per month
  • Helps employees stay on top of the tasks with running timers
  • Sets budgets and keep them on track

Pricing

  • The free plan is offered for an unlimited number of people but with limitations to the one (1) project.
  • $19 USD / month plan is available with limitations of up to 10 projects.
  • $49 USD / month plan is available with limitations of up to 30 projects.
  • $79 USD / month plan is available with limitations of up to 60 projects.
  • $149 USD / month plan is applicable with no limitation of projects.

Trial Period

Tick offers a 30-day free trial that doesn’t require your credit card info.

3.Myhours – Free Time Tracking App

MyHours time tracking solution for architects

Myhours is a free time tracking app that aims to unify all features you need to lead a successful accounting business. The software allows its users to get rid of their messy inboxes by streamlining projects from start to finish.

You can also track every step and important metric along the way. For example, you can set up a budget for a project and receive a warning if you are close to overstepping it.

Calculating your firm’s profit is one of the biggest advantages you will get from using Myhours..

Key Features

  • Project and task organization
  • Billable rate management
  • Detailed time tracking
  • Custom and appealing reports
  • Timesheets and log approvals
  • Email reports for clients

Benefits

  • A sturdy, yet flexible invoicing system
  • Task prioritization
  • In-app report editing
  • Detailed insight into all aspects of your business

Pricing

  • Free plan
  • Pro – $6 per user per month

Trial period

Myhours offers a 14-day free trial.

4. Bill4Time– Accounting Time and Billing Software 

Bill4time expense and time tracking

While Bill4time is primarily used in legal settings, we find that it’s also suitable for accounting firms. This handy tool provides online invoicing and payments and tracks both expenses and time per project. Additionally, it gives regular reports so you can stay on track with your business’s financial health.

Key Features

  • 256K-bit SSL encryption and SSAE 16 Type II certification
  • Creates detailed invoices
  • Tracks time to capture revenue-loss
  • Creates and edits invoice batches
  • Guarantees data safety

Benefits

  • Time tracking for CPAs and accountants
  • Manages clients, projects, tasks, accounting, and reports
  • Timesheet management system is perfect for CPAs, accounting, tax and audit firms
  • Improves productivity
  • Software support and integrations

Pricing

Pricing starts from $29 USD per user, per month for the Time and Billing plan, while the Legal Enterprise plan starts from $89 USD per user, per month.

Trial Period

Bill4Time offers a 14-day free trial.

5. WeWorked – One of the Best Time and Billing Software for Accountants

WeWorked time and projects calculation

WeWorked timesheets for accountants provides timesheet approval, balance tracking, and billable projects calculation. It’s best suited for small to large businesses that can benefit from automatic time capture, mobile time tracking, and the monitoring of billable and non-billable hours.

Additionally, the software is intuitive, easy to use, and doesn’t require a tutorial or training.

Key Features

  • Tracks time at your location or remotely
  • Automatic reminds employees to fill their timesheets
  • Reduces billing errors and tracks expenses from anywhere
  • Available for browsers, iOS, and Android

Benefits

  • Suitable for remote teams around the world
  • Stay on top of the nature of your team’s projects
  • Keep your data safe, secure, and encrypted

Pricing

Pricing depends on the number of users. It starts at $9.99 USD per month for three users and goes up to $79.99 USD per month for 100 users.

Trial Period

WeWorked offers a no-strings-attached free trial.

6. QuickBooks – Accounting Software with Timesheets

QuickBooks billing and time tracking software for CPAs

Although QuickBooks is a very popular billing and time-tracking software for CPAs, financial advisors, and tax accountants, it’s also a great time management tool for small businesses. The program offers detailed accounting functionalities and the smartphone app provides GPS tracking for easier travel expense management.

Key Features

  • Track time, income, and expenses
  • Detailed timesheets for accountants
  • Create and send invoices, and accept credit cards for faster payments
  • Run and export financial reports and deduct taxes
  • Manage billable hours and clock employees
  • Automatically organize your books

Benefits

  • Expense management and live bookkeeping for freelancers
  • Accept all types of payments and roll payouts
  • Save time and scale smarter with profitability insight

Pricing

Pricing starts from $4.5 USD per month for one user (Simple Start plan) and goes up to $8.70 USD per month for three users (Plus plan).

Trial Period

QuickBooks offers a 30-day free trial.

7. Jetpack Workflow– Time & Billing Software For CPAs

Jetpack workflow designed with CPAs in mind

JetPack Workflow is your accounting firm’s managing admin. Its cloud-based timesheet management software for accountants manages, tracks, and automates your client’s work. It was explicitly designed with CPAs, accountants, and bookkeepers in mind.

Key Features

  • Standardize processes and customize jobs for clients
  • Safely store client information and documents
  • Generate reports to track your team’s project progress
  • Manage your firm’s internal processes
  • Provide training and customized support

Benefits

  • Increase your profit and time spent on client work
  • Decrease the time spent on admin client work
  • Excellent timesheet reporting for CPA firms
  • Grow your client base instead of focusing on planning

Pricing

Pricing starts at 45 USD per user per month.

Trial period

JetPack Workflow offers a 14-day free trial.

8. ClickTime – Easy Online Timesheet Tool for Accountants

Clicktime easy online timesheets

ClickTime will help you easily organize, manage, and track your employee work time. It also provides you with reports on expenses to help reduce project costs and improve operations.

Offers overtime calculation, mobile time tracking, and offline tracking for easy management.

Key Features

  • Employee database, activity tracking, and time organization
  • Expense tracking, billing, invoicing, and overtime calculation
  • Vacation tracking and time tracking by client or project
  • Export reports into different formats
  • Simple to set up and use, no need for a training

Benefits

  • Allows you to focus on work and clients, not administration
  • Breaks up time according to tasks completed
  • Timesheet reporting suitable for accounting and CPA firms
  • Summarizes hours by client, project phase, or task

Pricing

Clicktime offers four pricing plans:

  • STARTER – $12 USD per user, per month (includes easy time tracking, 70+ reports, and email reminders)
  • TEAM – $16 USD per user, per month (additionally includes approval workflows, advanced billing rates, and time-off management)
  • PREMIER – $28 USD per user, per month (additionally includes utilization goals, resource planning, and project budgeting)
  • ENTERPRISE – Custom price (includes everything above plus single sign-on, named account manager, and custom integration)

Trial Period

Clicktime offers a 14-day free trial.

9. Time Doctor – Time Tracking Software with Focus on Productivity

Time doctor time tracking and billing software for accountants

Time Doctor is a time-billing accounting software. Time Doctor tracks how your accounting firm uses time, and it provides you with reports and analytics to improve performance.

The software integrates with over 60 tools to make your time management and organization of work activity easier.

Key Features

  • Cloud, SaaS, and web-based time trackers
  • Automatic time capture, monitors both employee activity and idle time
  • Manage billing, invoicing, timesheets, and billable and non-billable hours
  • Online punch card, tracks offline and mobile time
  • Tracks employee salaries

Benefits

  • Track and monitor your employee’s projects and tasks
  • Offers the flexibility of managing multiple clients
  • Helps your accounting firm grow into a company

Pricing

Time Doctor offers three different plans:

  • Basic plan – $7 USD per user, per month
  • Standard plan (most popular) – $7 USD per user, per month
  • Premium plan – $20 USD per user, per month

Trial period

Time Doctor offers a 14-day free trial that doesn’t require your credit card info.

10. Toggl Track– Time Tracking Solution Loved by More Than 5 Million Users

Toggl track has more than 5 million users

Toggl Track is a simple yet compelling time tracker and timesheet app for accountants. Even though it’s so simple, it comes with impressive features like idle time detection and tracking reminders. If you have a small team, its free plan should cover your time tracking needs.

Key Features

  • One-click timers for easy tracking
  • Provides multi-device support
  • Time tracking by client, project, or employee
  • Billing, invoicing, and manages billable and non-billable hours
  • Mobile and offline time tracking

Benefits

  • Track employee productivity for specific projects
  • Categorize tasks and generate weekly reports
  • Especially useful if you’re paid by the hour
  • Simple timesheet reporting

Pricing

Toggle Track offers four different pricing plans:

  • The free plan is available for up to five users
  • Starter – $10 USD per user, per month
  • Premium – $20 USD per user, per month
  • Enterprise – custom pricing

Trial Period

Toggle Track offers a free 14-day trial.

11. Xero – Specialized for Accounting Business

Xero designed for bookkepers

Xero is a powerful timesheet billing software designed especially for granular accounting. Their online platform will provide you with everything you need to build the perfect solution for your business needs. With Xero you can capture costs, reimburse payments, track expenses, organize time, and much more.

Key Features

  • Share information with clients, track timesheets and expenses, pay bills
  • Simplify employee expense claims
  • Track business finances and cash flow in real-time
  • Tracking fields for expenses, invoices, and bills

Benefits

  • Share information, data, and reports to your clients directly from the platform-less confusion and less back and forth
  • Track project profits and prepare estimates and quotes
  • Manage compliance workflows, clients, and staff in one place

Pricing

Xero offers three plans. Pricing starts with $11 USD per user, and goes up to $62 USD per user, per month.

Trial Period

Xero offers a free 30-day trial. After that, you can decide which plan suits your needs best.

12. TaxDome – A Platform for CPAs, Bookkeepers, and Accountants

Tax dome platform for CPAs

TaxDome is a fully integrated time tracking & billing software for CPAs with well-connected and easy-to-navigate modules.

Besides billing and time tracking, you can use it for automated workflows, e-signatures, file storage, and more.

Key Features

  • SSL encryption to keep your data safe
  • Portal dedicated to clients
  • An intuitive platform that understands financial professionals’ needs
  • Document management and due-date tracking
  • Approval process control and workflow

Benefits

  • Excellent timesheet reports for CPAs and accountants
  • Track the communication with your clients
  • An all-in-one solution creates a paperless office
  • Client, project, and staff management in one place

Pricing

Pricing starts from $50 USD per user per month (when billed annually).

Trial Period

TaxDome offers a two-week free trial.

13. Ronin– Accounting Time and Billing Software

Ronin online time tracking and invoicing app

Ronin is an online time tracking and invoicing app with basic accounting features. It allows you to specify employees roles and set time budgets and rates for time tracking. Ronin will also enable you to make multi-currency invoices and integrate with apps like PayPal and Stripe.

Key Features

  • Set estimates and track expenses
  • Create a customized or recurring invoice
  • Collaborate on a project and track your team’s time
  • Manage clients, projects, employees, and estimates
  • Quickly store and access your clients’ data

Benefits

  • Role-based permissions for easy team management
  • Saves time and improves the client relationships
  • Comprehensive suite of tools for both freelancers and small businesses

Pricing

Ronin offers a free plan with a limitation of up to two clients, one contact per client and one staff user.  Other paid plans include:

  • Agency – $49 USD per month, with a limitation of up to 5 users.
  • New users are charged $10 USD per user per month.
  • Team – $29 USD per month, with a limitation to 3 staff users
  • Solo – $15 USD per month, with a limitation to 1 staff user

Trial Period

Ronin offers a free 30-day trial.

14. Replicon– Track Project Time and Costs

Replicon track projects time and costs

Besides time tracking, Replicon also provides an advanced project management solution with an abundance of features to organize your team’s workflow.

It will help you submit and monitor expenses, manage resources and employee attendance, set estimates and rates for different services, and much more.

Key Features

  • Real-time data validation for dynamic routing
  • A centralized platform that will allow you to stay on top of all services
  • Capture project hours, in/out time, and apply rates for precise invoicing
  • Pre-populated timesheets and GPS tracking
  • Mobile timesheets and digital receipts

Benefits

  • Streamline client billing with the invoicing module
  • Use intuitive time capture to track billable and non-billable by project
  • Avoid billing errors and project delays

Pricing

Pricing of features that include time tracking starts with $18 USD per user per month.

Trial Period

Replicon offers a full-access 14-day free trial.

15. TimeCamp – Accounting Firm Timesheet Billing Software

TimeCamp time tracker with accounting features

Time tracking for accountants has been made incredibly easy with TimeCamp — a free time tracker with accounting features. Besides staying on top of your deadlines and project times, TimeCamp will also allow you to keep track of your expenses and control the budget.

This intuitive software will track your time automatically or let you enter it manually.

Key Features

  • Manage all projects in one place
  • Keep track of the margin, budget, and expenses
  • Control the payroll and manage administrative procedures
  • Allocate budget to employees, clients, tasks, or projects
  • Create invoices based on tracked hours

Benefits

  • Accurate estimates for predicting future expenses
  • Timesheet system management
  • Track remote employees with GPS
  • Create quotes, define taxes, and track billable and non-billable hours

Pricing

TimeCamp offers a free plan with unlimited users and projects.

Paid plans include:

  • Basic plan for $7 USD per user per month
  • Pro plan for $10 USD per user per month.

Trial Period

TimeCamp offers a 14-day free trial.

16. Scoro – Optimize Your Time

Scoro optimize time utilization

Scoro is an end-to-end service automation solution that will allow you to manage your entire team’s workflow. You can schedule and track work, manage projects, lists, and task boards. Scoro also provides you with real-time reporting dashboards.

Key Features

  • Quoting, billing, and advanced reporting
  • Advanced calendar and reminder system
  • Manage budget, campaign, and contacts
  • Cost-to-completion tracking, billing, and invoicing
  • Enhances efficient team collaboration

Benefits

  • Streamline projects and optimize time
  • Monitor your team’s time use
  • Insightful timesheet reporting for accounting firms
  • Track productivity and profitability

Pricing

Scoro offers four pricing plans:

  • Essential – $28 USD per user, per month
  • Work hub – $42 USD per user, per month
  • Sales hub – $42 USD per user, per month
  • Ultimate – Custom pricing

Trial Period

Scoro offers a fully-featured 14-day trial, no credit card required.

17. Clockify – Free and Simple Time Tracker and Timesheet App

Clockify free and simple time tracker

Clockify is a free time tracker that allows you to track billable hours, productivity, and employee attendance. The software itself is easy to use, and  the dashboard is flexible so you can customize it to your team’s needs.

Key Features

  • Project management with billable hourly rates and estimates
  • Accurate and effective across multiple platforms
  • Granular reports that can be customized to your needs
  • Specify time duration for each project
  • Track employees’ hourly rates

Benefits

  • Easy-to-use timesheets module
  • Integrates with Pixie so you can track time directly from tasks
  • Visualize time breakdown for different projects
  • Filtering and grouping options for better organization

Pricing

Clockify offers basic features for free forever. Extra features are given in paid plans:

  • Basic –$ 4.99 USD per user, per month
    • includes all FREE features, plus time for others, hiding time and pages, required fields, bulk edit, time audit, customized export, project templates, and historical rates
  • Standard – $6.99 USD per user per month
    • includes all BASIC features plus lock timesheets, time approval, manager role, targets, reminders, import timesheets, task rates, time rounding, invoicing
  • Pro – $9.99 USD per user, per month
    • includes all STANDARD features plus labor cost and profit, scheduled reports, budget and estimates, alerts, custom fields, force timer, GPS tracking, screenshots
  • Enterprise –  $14.99 USD per user, per month
    • includes all PRO features plussingle sign on, custom subdomain, and control accounts

Trial Period

Clockify offers a 7-day free trial so that you can try their extra features.

18. Beebole – Easy and Beautiful Time Tracking System

BeeBole time and control expenses with modules

BeeBole is a timesheet management system for accountants working for both small and big companies. The software allows you to track time and control expenses with modules for departments and projects. It’s also GDPR-compliant and multilanguage.

Key Features

  • Custom modules and timesheet approval
  • Multiple currencies for billing costs
  • Configurable reports and a team calendar
  • Employee database, scheduling, and tracking
  • Online punch card and offline time tracking

Benefits

  • Track your team’s productivity with automatic time capture
  • Calculate overtime, billable, and non-billable hours
  • Manage payrolls, budgeting, and forecasting

Pricing

Pricing starts at 6.99 USD per user per month.

Trial Period

Beebole offers a 30-day free trial.

19. Avaza – Easy Time and Expense Tracking

Avaza time and cost tracking

Avaza is an intuitive, easy-to-use, responsive project and task management system. Accountants love it for its ability to integrate with Xero, while managers get the most use out of its time scheduling and tracking, and expense management.

Key Features

  • Cloud-based software for client-focused businesses
  • Project management and collaboration
  • Quoting, invoicing, and task tracking
  • Kanban boards task lists, Gantt Charts, status views, priority views
  • Easy data import and export

Benefits

  • Project to invoice capabilities
  • Effortless collaboration between team and clients
  • Seamless integration with QuickBooks
  • Provides timesheets suitable for accounting firms

Pricing

  • Free – available with limitation to 1 user with timesheet/expense access
  • Startup —$ 9.95 USD per month, with a limitation to 2 users with timesheet/expense access
    • Adding new users costs additionally $5 USD per user per month
  • Basic — $19.95 USD per month, with limitation to 5 users with timesheet/expense access.
    • Adding new users costs additionally 5 USD per user per month
  • Business — $39.95 USD per month, with a limitation to 10 users with timesheet/expense access
    • Adding new users costs additionally 5 USD per user per month
    • There is no limitation to active projects

Trial Period

Avaza offers a free trial.

20. Zoho Projects – Online project management with timesheets

Zoho projects track the project progress

Zoho Projects is a project management software with 200,000 global customers. It allows you to easily assign tasks to your team, track the project progress, and communicate with your team and client. Zoho Projects will provide you with detailed reports, allowing you to get all your projects done in time.

ZOHO One is an ecosystem of 40+ apps. There is also ZOHO CRM software which is designed to address your sales and marketing side of business mainly.

Key Features

  • Automatic time capture and activity tracking
  • Manage assignments, budget, calendar, and capacity
  • Color codes, icons, and brainstorming
  • Track expenses and cost-to-completion
  • Track vacation, leave, and time by employee, client, and project

Benefits

  • Precise project planning and execution
  • Efficient communication with clients and employees
  • Tracks all major project milestones
  • Simple reports on timesheets

Pricing

  • A free plan is available with a limitation of up to three users and three projects and space for file attachment of 10 MB
  • Premium – €5 EUR per user, per month, with a limitation to 50 users
  • Enterprise – €10 EUR per user, per month

Trial Period

Zoho Projects offers a 10-day free trial.

21. Noko – Time and Billing Software For Accountants

Noko background time tracker

Previously known as Freckle, Noko is a timesheet management system for accountants. It stands out from other software for a few reasons but mainly due to its robust reporting features. You don’t need a detailed initial setup — instead, Noko will begin tracking time as soon as you start it up while blending seamlessly into the background.

Key Features

  • Unlimited projects and hourly backups
  • No need for installation or long-term contracts
  • Weekly timesheets, PDF, Excel, and CSV export
  • Track non-billable time and expenses
  • Multi-currency invoicing and billing increments

Benefits

  • Keeps your data safe with bank-grade SSL encryption
  • Import data from other time trackers
  • Measure your project goals and meet them

Pricing

  • Team – starts with five users for $49 USD per month.
    • Additional users cost 10 USD per user per month.
  • Organization (most popular) – starts with 25 users for $199 USD per month.
    • Additional users cost 8 USD per user per month.
  • Enterprise – starts from $499 USD per month
  • Solo – One user for $18 USD per month

Trial Period

Noko offers a free 30-day trial.

22. Harvest– Expense Control and Project Budget Management

Harvest cost control and budget management

Money and time are the two main currencies in business, and Harvest takes these both very seriously.

Over 400,000 tracked hours and $13 billion USD from paid invoices over the last ten years, make it one of the most reliable time monitoring software offered. It’s a time tracking app that helps businesses grow.

Key Features

  • Track expenses and time easily
  • Automatically transform tracked time to revenue
  • Add time tracking to Asana, Trello, Jira, and Slack
  • Integrate with PayPal and Stripe for quicker payments
  • Track time as you work or enter the hours all at once

Benefits

  • Integrates with tools your team is familiar with for streamlined workflow
  • Get visual summaries of your team’s time spending
  • Get visual reports for easier project management

Pricing

  • Free plan – limited to one user and two projects
  • Pro –  $12 USD per user, per month; unlimited users and projects

Trial Period

Harvest offers a free 30-day trial.

23. Paymo – Time and Task Tracking

Paymo plan and schedule your team's projects

Remote teams and small businesses benefit greatly from Paymo — an intuitive time and work management solution. This accounting time tracking and billing software will allow you to plan and schedule your team’s projects while communicating efficiently with your employees and clients.

Key Features

  • Advanced task planning and management
  • Schedule and track projects
  • Time zone tracking and employee activity monitoring
  • Gantt timeline view and Kanban board
  • Client portal and collaboration tools

Benefits

  • Keep track of an entire project — from start to payment
  • Track significant milestones of each project
  • Calculate the time spent on the project so your client can understand what they’re paying for

Pricing

  • A free plan is available with a limitation of up to 10 users.
    • *The number of projects is not limited.
  • Small office – $11.95 per user, per month
  • Business – $18.95 per user, per month

Trial Period

Gain access to the plan of your choice during your 15-day free trial.

24. Journyx – Project Time Tracking and Resources Management

Journyx project and resources management

Journyx will streamline your timesheet processing and automate project cost accounting so your team can focus on your clients. You can track profitability, pay your employees, and bill your clients, all within this platform, effortlessly.

Key Features

  • Activity tracking and overtime calculation
  • Vacation, leave, and offline time tracking
  • Multiple billing rates, invoicing, tracking of billable and non-billable hours
  • Timesheet and reimbursement management
  • Time tracking by client and project

Benefits

  • Better managment of employees and budget
  • More precise management of established schedules
  • Integrates with QuickBooks

Pricing

Pricing is not publicly available.

Trial Period

Journyx offers a free demo.

25. Teamwork Projects – Project Management with Time Tracking

Teamwork project planning software

Teamwork Projects is a project planning software that helps your team improve both their productivity and their final project. It allows you to manage anything from project planning and scheduling to campaigns and a product launch.

Key Features

  • Track Cost-to-completion, due date, and progress
  • Manage budget, campaign, and calendar
  • Access controls, permissions, and business process automation
  • Track status and percent-completion
  • Customize templates and third-party integrations

Benefits

  • Track all major project milestones
  • Prioritize tasks and projects
  • Maintain research archives for projects

Pricing

  • Free forever – limited to five users, two projects, and 100 MB of storage (for individuals and very small teams)
  • Pro – $12.5 USD per user, per month
  • Premium (Recommended) – 22.5 USD per user, per month (ideal for larger teams)
  • Enterprise – customized pricing (advanced security and premium support)

Trial Period

Teamwork Projects offer a 30-day trial period.

26. BigTime– Automation Software for Timesheet Management and Billing

BigTime software with extensive accounting features

BigTime is a time tracking app suitable for accountants, architects, engineers, IT-services firms, marketing firms, legal firms, and scientific and management consultants. It’s a professional service automation software that organizes all your company info in one place. It’s best suited for accountants who need extensive accounting features.

Key Features

  • Timesheets, customizable views, user-driven presets/defaults, and smart lookups
  • Expense tracking (billable and non-billable hours, equipment, mileage, reimbursable/non-reimbursable, etc.)
  • Custom payment processing, invoicing, and billing
  • Business reports and analytics
  • Integration with other tools

Benefits

  • Customized timesheets for accountants and clients
  • Real-time insight into resource allocations
  • Streamlines internal processes
  • Focus on data without extra tools

Pricing

  • The Express plan is $10 USD per month per user, with a minimum of five users.
  • The Pro plan is $30 USD per month per user, with a minimum of five users.
  • The Premier plan is $40 USD per month per user, with a minimum of five users.

Free Trial

BigTime offers a free trial of their timesheet software for accountants.

The Benefits of Time Tracking and Question

No More Paper Timesheets and Excel Spreads

Using physical paper timesheets and excel templates to keep track of employee time is becoming an obsolete practice in today’s offices. New time tracking methods are available, and they enable businesses to understand what’s happening daily on a deeper level. Reports on key metrics by the task, client, employee, and other categories are some of the most important options timesheet software for accountants offers.

There are a few reasons the use of timetracking software for accountants is becoming so popular. Most of these reasons fall under a few categories: efficiency, cost effectiveness and convenience.

First, the paper and Excel methods don’t allow admins or managers an overview of employees who have or haven’t completed their timesheets. Time tracking software allows those in charge to see who is productive and who needs development in this area. This is a huge reason for the recent popularity of accountant time tracking.

Secondly, time tracking software for accountants usually only costs a few dollars per user per month. This is a small price to pay to have a better idea of what’s getting done each day.

Finally, filling the timesheets only takes a couple of minutes a day. The accountants can log their time in detail at the end of their day without disrupting their workflow.

You will be able to calculate and allocate work hours per various categories, such as projects, tasks, and clients automatically. Timesheet software offers modules for time reporting that do all these tasks for you.

As a perk,  you will be sure that all your employees are logging their time and submitting the timesheets, as the program will send out a reminder to users after a week of inactivity. This way you’ll be able to curb time theft.

Logging Time Through a Single Click

Time tracking software for accountants comes in many shapes. Some systems can be very complex, with multiple timers and a great variety of compulsory data. Often, these systems can be overwhelming for most users. Especially if they aren’t computer experts.

In these cases, logging time can take quite a bit of time, as well as a complicated initial setup with the admin team. That is why you should make sure to choose a relatively simple platform that is accessible to all team members.

time analytics time tracker

Security and Transparent Timesheets for Invoicing and Payroll

Reputation can make or break a business. It’s important to remain reputable with both with your clients and your employees. Timesheet software for accountants can help you achieve this through itemized invoices and payroll.

When it comes to invoicing, having an itemized and accurate bill is a great way to maintain a fair and transparent business relationship. Receiving an invoice that details how much time, energy, and resources went into your project makes any miscommunication impossible.

Efficiency, trust and care among your employees should be a priority as well. Some countries made monthly timesheets a mandatory document to be able to conduct payroll as well. You will greatly benefit from your employees logging their time, as you will be able to measure their productivity and see whether they’re respecting their contracts.

Results that are significantly lower than the rest of the team can signify an accountant is experiencing burnout, needs additional help, or is simply slacking. You will have an accurate insight into their time and results and be able to check in with them to see if they need help.

Time tracking for CPAs allows businesses to allocate their costs according to the services they provide and pay their employees justly.

Understanding Profitability

Time tracking software solutions offer project profitability reports. Their value lies in determining your most valuable clients.

Accountant time tracking allows you to track how big each client’s profit margin is. This is shown through numerous crucial KPIs. These metrics will show whether you need to change contract terms or even terminate certain collaborations that are especially unfavorable.

Eliminating negative business practices and clients that cost you money is bound to increase your billable time and significantly improve income statement.

profitability per project

Optimizing the Hours Structure

Understanding the ratio of billable and non-billable hours is an important goal for every manager and business owner. They should always strive to optimize hours structure, which means reducing menial and repetitive tasks, as well as unnecessary meetings to be able to increase the number of billable hours. this will also leave you with more time for bigger projects with higher hourly billing rates.

Optimizing the Hours Structure

Increase Productivity

Businesses aren’t the only party that can benefit from using time tracking software for accountants. The employees themselves can gain a better understanding of their own time and the ways they spend it. This will allow them to measure their productivity and increase it by working smarter, and not harder.

Simply put, they will be able to follow their natural work rhythm. This means using the most productive periods during the day for the most demanding and important tasks, and taking breaks or doing smaller and repetitive tasks during lower activity periods.

Regulations

There are different labor laws (which include time tracking regulations) in different countries. Hence, you should first take the time to see whether the time tracking system you are considering follows them.

For example, the Fair Labor Standards Act (FLSA) requires every business to have accurate working hours records. Yet, companies can decide the way they will keep this data. A time tracking solution safely keeps this data, so it is ready at any time if a company goes through a government audit.

Prevent Buddy Punching

This time theft practice is one of the most widespread, and using a timesheet software platform makes it impossible. To put it simply – buddy punching requires a physical way to clock in, whether it’s a written timesheet or a punch card.

A single employee ‘’stealing’’ five to 10 minutes here and there isn’t a big deal. However, employees constantly using this technique to appear to be at work when they’re not, can turn into a big problem. Hence, it is important to ensure all your accountants know how seriously you take workplace honesty.

Overtime Detection

Companies that don’t require some overtime here and there are rare. In accounting, it is normal to have a spike in activity around the end of fiscal periods. However, not all overtime is good, and it can indicate more serious problems within your organization.

A rise in overtime can be caused by simple forgetfulness during the initial period of using a time tracking system. in other words – users may forget to clock out. On the other hand, there are more insidious reasons for overtime.

The first one is an employee or team not being able to handle their workload. In that case, different overtime regulations are going to protect the employees from being overworked, or not paid for their efforts. In this case, you will have to calculate overtime and pay them accordingly.

On the other hand, some employees will commit another form of time theft, by staying longer in the office without actually working. Timesheet software will allow you to compare the results of your employees compared to their coworkers.

Time Theft Prevention

Time theft represents different behaviors that employees partake in to give the impression of working while not doing so. In other words, they make it seem like they’ve worked for a certain number of hours when in reality that number is much lower, but the company still has to pay them. Different time theft methods cost US employers $11 billion per year. These methods include

  • Buddy punching
  • Fudging with numbers
  • Stand-in attendance
  • Coming in late and leaving early
  • Taking multiple breaks or longer breaks than mandated
  • Using work time for personal matters

Timesheet software is a great way to conduct a time audit. The benefits of this practice include immediately recognizing which employees aren’t using their time as efficiently as their peers (or at all). This is a great way to make your employees more self-aware of their actions and their impact on the company. More importantly, they will understand their work rhythms and adjust their work structure to become more productive.

Time Off and Time Tracking

Attendance and time off tracking are a crucial part of any business. This is especially true for the companies that work in multiple shifts. If you track absences and employees can ask for days off through the same system, you’ll be able to plan shifts without conflicts or being understaffed.

Expense Tracking and Assessment

One of a time tracking platform’s most important features is cost management. Time tracking software for accountants draws the total price of a work hour. This total price includes direct and overhead expenses.

Once the platform has all the necessary data, it can allocate expenses to different projects and clients. This will significantly simplify your billing process, which, in turn, raises the company’s total productivity.

Time Tracking Apps FAQ

How Do Time Tracking Apps Work?

  • The process is quite simple. Employees log the working hours they spend on a specific task, project, or task. The systems often give the employees the option to label their hours as billable or non-billable. The accountants will also be able to track their billing rates.
  • Once you decide which criteria are important for your business, you can create a time tracking template that can be used on recurring tasks or be a daily model for a specific position.
  • The time tracking is most often conducted through an automatic tracker (i.e. a stopwatch), or manually.
  • The platform then pulls all entered data into its database and turns it into reports on different aspects of your business.

Do Time Tracking Platforms Take Away Employee Privacy?

Most employees don’t jump in joy once they find out you will start using a time tracking software solution. The reason is simple – no one likes feeling like they’re being monitored all the time.

That is why it is important to make sure your employees understand that you care about their privacy. You can communicate this by the time tracking method choice itself. For example, a timesheet-based solution allows the user to track their time on their own. On the other hand, solutions that take screenshots or monitor keystrokes and mouse activity are more invasive and can raise privacy concerns.

Monitoring user interaction with documents, web pages, and apps is also invasive. All of these techniques signal a level of distrust, which will create distrust on the side of the employees as well.

A trust-based timesheet solution allows employers to get all the information they deem necessary without micromanaging or invading their team’s privacy.

Are Time Tracking Platforms Secure?

A time tracking platform is a third-party service that unifies all information about work, projects, clients, and employees on the company level. Security concerns are understandable.

Time Analytics understands these concerns and takes technical, organizational, administrative, etc. measures to make sure nothing happens with our users’ data. Our Privacy Policy details exactly how the data is being used, with no exceptions. Your data is secure, and will never be sold to any other company or individual. It is also only used for time tracking and analysis.

Can a Time Tracking App Help Small and Large Businesses?

The simplest answer is – yes. If you use a platform that tracks time accurately and delivers reports on your business, the size of your team doesn’t matter—for a few reasons.

Firstly, you will be able to react immediately when things start going awry– thanks to real-time tracking. Secondly, it will allow you to register underlying problems within your company that aren’t obvious at a glance – such as low-performing employees and clients.

Other benefits of time tracking include creating invoices and payroll slips and documentation with ease. Finally, the personal benefit of understanding work rhythms makes time tracking platforms great for freelancers as well. Never get lost in work or undercharge again.

Is a Free Timesheet Software for Accountants Enough?

As you may know by now,  there ins’t a universal answer for every business. There are many free time tracking solutions, as well as some that offer a free plan or trial. However, the quality of these platforms isn’t consistent.

You also need to be aware of the fact that some businesses have much higher demands than others. You can always start with a free version and upgrade it if you aren’t completely satisfied with the results.

The Pricing of Time Tracking Software

Affordability is one of time tracking software’s biggest advantages. While some companies charge exorbitant fees for their services, most solutions only cost a couple of dollars per user per month.

We are aware that even this small investment can be burdensome for larger companies. Because of this, Time Analytics has special discounts for clients with a large number of employees. You can check out the Time Analytics pricing page for more information.

Are You Convinced That Time Tracking is Right for You?

Time tracking has become one of the main methods to fight off time theft. According to Salary.com, time and wage theft cost the US industry alone $400 billion per year. The site also reports that 21% of employees admit to wasting 5 hours during their workweek, and 3% waste ten hours – a quarter of a standard workweek.

Fighting against these losses happens through knowing what your employees are doing during their work hours, and making sure the distribution of tasks is equal and just.  An accounting time tracking platform does exactly that, while also helping employees learn about their habits and how to increase productivity without causing burnout.

 

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How to generate a profit if you are an accounting agency?

Has the current crisis caused by the COVID 19 virus affected your business? 

Are the consequences already being felt or are more significant effects yet to come? 

How difficult is it to organize the work of an accounting agency from home in the right way?

And most importantly, is the decline in productivity and profit in the crisis is certain, can it be avoided or used to get a bigger piece of cake on the market?

Crises of various kinds will be more frequent in the modern crazy world, for sure.

However, it is easy to be smart and wise when something has already happened. Being better than others means thinking ahead, which is often not easy in business, but it is what sets you apart from others and rises to the top.

Therefore, it is important that we start thinking ahead from the beginning, set things right on time and automatically the chances of success are greater and more certain.

 

How to get a profit if you are an accounting agency?

Anyone who thinks that profit will come immediately, that just a little effort is enough and then in a relaxed manner sit in an armchair should skip this text.

You need to get into a street fight for profit at the right time in the right way.

Of course, everyone will wonder what the right time is and what is the right way?

How important is mutual trust?

Time is a relative term and a true general will feel when it is the right time to battle. However, even the best general cannot win without a well-trained army that accompanies him.

In order for the army to be well trained, the general must:

  • constantly take care of them
  • to provide the best conditions and 
  • always to be there for them. 

In that way, the army will gain the general’s trust and will never leave him to lead the battle alone. It is not enough that the army only trusts the general, but it is also crucial that the general trusts his army.

The question is, how can a general trust all his soldiers, he is alone, and there are many of them?

In order for a general to trust his soldiers, he must know:

  • how efficient each soldier is, 
  • whether each soldier uses his time in the best way and 
  • what it is that would make every soldier being even better.

 

P.S. The business world is no different from the battlefield. Every potential job is a path to battle. Every deal made is a small victory, every lost job is a small defeat. The ultimate goal is to win the war because you think on time and use the weaknesses of your opponent.

 Time Analytics, truth, or delusion?

The right time to start thinking about how to increase profit is not when the business reaches a point where you can’t breathe from the problems that are accumulating. The moment the first problems start to appear, we should throw ourselves into solving them.  

What is the right way to solve upcoming problems?

When the first problems occur, although they may not seem big and unsolvable at first if they are neglected they can become hopeless.

We want to present a solution to your problems and open the possibility to increase your profits.

Our solution, for our internal problems and of our clients’, and possibly of your own, is time recording software for accounting agencies. We put our expertise and experience into Time Analytics software, specialized for accounting agencies, as well as other service companies.

You must be wondering what Time Analytics software has to do with everything we’ve talked about so far.

The bottom line is that this solution can help you do the right things at the right time and thus improve your business.

HOW?

The key to any successful business is employees. If you have quality employees whose work you can to:

  • plan
  • track
  • rate
  • improve
  • reward or penalize

then you are closer to the goal and away from potential problems.

Where is the hidden profit?

Every manager plans the work of his employees, but the question is whether he does it efficiently and how much time he needs for it. No matter how worn out, the saying “time is money” is true. 

Our solution is automated and enables the work of employees to be planned as efficiently as possible in a short period of time.

Each employee needs less than five minutes a day to enter the activities he has worked on into the software. You will agree that every employee can dedicate five minutes a day to something that can bring us great benefits.

If everyone follows the instructions and fills in the Time Analytics software regularly, the manager will have a complete picture based on the reports generated by the software according to the entered parameters, which refers to:

  • unused employee time
  • employee productivity
  • areas where employees need additional education
  • the possibility of searching for new engagements
  • unprofitable clients, etc.

With the mentioned reports generated by the software, in addition to the quality of work of your employees, you also monitor the quality of your business and your revenue and expenses, and thus your profit. You can evaluate both employees and your own business.

Based on adequate reports, you will report appropriate conclusions, and based on adequate conclusions, we come to the answer to the question of how to get a profit if you are an accounting agency?

Of course, you can reward employees who stand out from others, while you can consider hiring those employees who don’t fulfill their responsibilities.

Now you’ve got the reports with a bunch of numbers and conclusions. But how to read them? 

The answer to that question we provide in the following paragraphs. 

KPIs for accounting business

 

As you may already know, KPIs or Key Performance Indicators are figures that show you the past, present, and future of your business. By reading KPIs, you will understand the current state of your business. You can also see how well your company performed last year, last month, etc. You can see if your company improves or not, by comparing current KPI results with previous results. In addition, you will use them to make strategic and tactical decisions on the future of the business. Our time recording software will help you define and track KPIs.

Since the main resources of your accounting company are your employees, i.e. their working time, the basic KPI is total spent hours. You should track the total amount of spent hours per each employee, as well as per client, activity, project, and service line. You should also track the number of total number of spent hours in a day, a week, a month, a year. In addition, the total number of spent hours should be compared from period to period, whether it is the day, a week, a month or a year. 

After you get information on total spent hours, you may derive most of the rest of the necessary KPIs for accounting companies. We divided the rest of them into three groups:

  • Financial KPIs
  • Marketing KPIs
  • Productivity KPIs

Financial KPIs

Using Time Analytics software enables you to track the following financial indicators per client, employee, and service line:

  • % of billable hours in total hours: how much of your work is billed to the client? Using this financial indicator, you see how well the company’s resources are utilized in providing services. In addition, you can see if you are providing free services to the client. In addition, you can see how much time an employee spends on internal company activities (administration, preparation of invoices and agreements, sales activities etc.).  Usually, a high % of billable hours in total hours means that employees are productive and that most of his/her work is billed to the clients. However, in some cases, certain % of non-billable hours is necessary (for example, senior managers need to spend some time identifying and communicating with potential new clients)
  • Revenue per hour: whether you are engaged by the client by a fixed or variable fee, this is one of the key KPIs to analyze the profitability of engagement. 
  • Costs per client (service line): you already know the revenue that you generate from each client/service line. But do you know the costs of each client/service line? Our time recording software helps you to simply calculate the costs of each client (service line). The costs are based on the costs of salaries and other indirect costs related to employees. 

Marketing KPIs

Using our time recording software for consultants enables you to analyze the position of consulting company on the market:

  • A total number of clients: does your number of clients increase month to month, year to year? You may already know that is much less costly to keep a current client than to acquire a new one. What is your CRM strategy?
  • An average number of service lines per client: do you perform cross-selling? Do your largest clients know what types of services you may provide? If you spend a lot of time with the CEO and other managers of the client. You sit with them in conference rooms, on business lunches. You talk with them all the time on the phone, exchange many e-mails and SMS messages. Use this time to discuss their business, try to provide them advice on running a business. In that way, the client will look at you not as a specialist, but as a generalist. You will become his special strategic advisor. The client will then realize that you may provide an extensive portfolio of services 
  • The total number of hours spent on sales (marketing) activities: how much time you and your senior managers spend finding new clients? Maybe you need to put more hours on sales activities. Or maybe you need to change your approach, to spend working hours more efficiently.

Productivity KPIs

Crucial accounting firm productivity KPIs you need to track using time recording software are:

 

  • total spend hours per employee: are employees overwhelmed with work? Who carries the most of workload? Are they under risk of burnout? Which employee has some free working time to help other colleagues?
  • Structure of an employee’s working activities: what do your managers do? Are they able to delegate routine activities to consultants? How much time do they spend finding new clients? Are they overwhelmed with administrative and reporting tasks? By looking at the structure of the working activities of employees you can identify new working positions that need to be opened. 
  • Overtime: compare total planned hours with total spent hours on a project. If much more time is spent than it was planned, you should analyse the reasons for it. 
  • Number of engaged employee’s per client: did you plan project execution well? If there are too many accountants on the same assignment, maybe planning was not efficient or opposite.
  • Revenue/profit per employee: does employee bring more money to you than you pay him/her?

Looking for additional profit as an accounting agency?

Again, profit is not something that will just come. If you use Time Analytics software, it is not guaranteed that you will make a profit. First, you need to understand in the right way the reports that the software generates.

This is where the chance for additional profit lies.

We will return to the beginning of our text again.

  • Has the current crisis caused by the COVID 19 virus affected your business? 
  • Are the consequences already being felt or are more significant effects yet to come? 
  • How difficult is it to organize the work of an accounting agency from home in the right way?
  • And most importantly, is the decline in productivity and profit in the crisis is certain, can it be avoided or used to get a bigger piece of cake on the market?

Every crisis is a serious matter, but you don’t necessarily have to get out of a crisis as a defeat once.

Why not turn the crisis to your advantage?

Our solution can help you become an absolute winner when everyone loses. 

Crisis vs. additional profit?

When a crisis occurs, anyone who does not have all the strings in their hands will largely neglect the needs of their existing clients. The main occupation will be its own company. 

  • Organization in a new situation, 
  • Work from home, 
  • Responsibilities, 
  • Control of employees, 
  • Communication, etc.

Rarely will a manager neglect his company in the described situation and turn only to Clients, but the crisis has not only affected you but everyone, including your Clients.

But …

A situation in which you have the strings in your hands turns things in your favor and here is the answer to the question of looking for additional profit. When everyone is busy with their own company, you will be able to dedicate yourself to finding new clients.

Things need to be put in place here. Clients won’t immediately run into your arms, they will first turn to their well-known partners, but when their answer is missing, it is your turn. 

It is the moment when you take the lead, the moment that separates you from the competition, and the moment when you know that you have managed your company well.

Does it make sense?

Final remarks

The essence is very simple.

  • Is Time Analytics an expensive solution?
  • How much can you gain and how much can you lose?
  • What is the opportunity cost of not using the Time Analytics solution?

There is a saying that says, it is better to do something and regret so than to regret that you did not even try.

If you decide on the first variant, we are sure that you will not regret it, but that you will raise your business to a higher level.

Ready for a ride? Test a time tracking solution for an accounting agency today

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