If you’re looking for tried-and-tested solutions for improving process accuracy and productivity in your accounting firm, then check out this list of the best time tracking and billing software for accountants out in the market right now.
1. QuickBooks
A household name among the many time tracking and billing software for accountants in the market, QuickBooks includes a workforce app for streamlined payroll and invoicing. It also allows the user to create schedules, customize reports, see who’s working in real time, manage employees’ time off, and set alerts and notifications.
Additionally, you may also attach photos, use the time kiosk, and enjoy unlimited customer support for this billing software for accountants. All these features are included in the Premium version, which is priced at $10 a month + $8 per user per month, with the base fee including one (1) admin.
Meanwhile, additional features in this accounting time and billing software like tracking mileage and projects, timesheet signatures, and geofencing are included in the Elite version, which is priced at $20 a month plus $10 per user per month, with the base fee including one (1) admin.
Note that these rates may change at any time.
Read More: The Beauty of Accounting Workflow Software
2. Karbon
A good contender for your firm’s top choice for time and billing software for accountants is Karbon. Promising flexible invoicing options, Karbon aims for clients to get paid faster, give them real-time updates, allow for collaboration, and more. One of their packages includes Team, which is priced at $59/month per user, paid annually or $79/month per user, paid monthly.
Meanwhile, a popular package that Karbon offers is the Business package, which is $89/month per user, paid annually, or $99/month per user, paid monthly. Finally, they have Enterprise, which is customizable. You can learn more about these packages for time tracking and billing software for accountants here. Note that these rates may change at any time.
3. Xero
Another familiar brand when it comes to time and billing software for accountants, Xero helps you track your employees and the time they spend on their tasks and projects with online time tracking. Among all the time tracking and billing software for accountants in the market, Xero is known to be one of the most user-friendly and versatile ones.
Some of its features include its easily navigable interface, scalability, integration capabilities, and cloud-based functionality. Xero promises accurate recording and invoicing hours for tasks, starting at $15 per month for the paid version. Meanwhile, clients can opt for the trial version as well. Please note that these rates may change at any time.
4. Hubstaff
Hubstaff also offers time and billing software for accountants. Promising simple payroll, mobile time tracking, and easy invoices, Hubstaff also offers budget limits, custom reports, and of course, time tracking. Like other time tracking and billing software for accountants, they have a free trial when you sign up, but their Starter, Grow, Team, and Enterprise packages are priced at $4.99, $7.50, $10, and $25 respectively. Note that these rates may change at any time.
5. Bill4Time
A name rising in popularity among time and billing programs, Bill4Time is a time tracking software for accountants that offers expense tracking, online invoicing and payments, and project, contact and document management for accountants, auditors, tax accountants, financial advisors and consultants. Note that these rates may change at any time.
6. TaxDome
TaxDome is another brand offering specialized time tracking and billing software for accountants. This time and billing software has packages that are priced according to years of subscription, with their most popular one being the 3-year subscription package, priced at $700 annually per user. They also have 2-year and 1-year subscriptions, respectively priced at $750 and $800 annually per user. Note that these rates may change at any time.
7. AccountSight
A cloud-based time tracking, invoicing, and expense management solutions software, AccountSight is another accounting time and billing software. Their packages can be paid either monthly or yearly, starting with Free, Basic, Small Group, and Enterprise. Monthly payments for the Basic, Small Group, and Enterprise packages are priced at $10, $9, and $8 per user, while yearly payments are priced at $108, $96, and $72 per user. Note that these rates may change at any time.
8. Teamwork.com
Valuing profitability by managing client projects, Teamwork.com offers packages called Deliver, Grow, and Scale, priced at $10.99, $19.99, and $54.99. Meanwhile, the pricing for the Enterprise package can be determined through booking a demo. As a time tracking and billing software for accountants, your firm can use Teamwork.com to combine project management and streamlined operations. Note that these rates may change at any time.
9. FreshBooks
Another specialized accounting time and billing software, FreshBooks offers subscription-based products that help firms with accounts payable, invoicing, retainers, time tracking, and expense tracking, among other features. Their packages include Lite, Plus, Premium, and Select, priced at $5.70, $9.90, $18.00, and the last one being determinable through call. Note that these rates may change at any time.
10. Harvest
Finally, we have Harvest, another time and billing software that provides time tracking, invoicing, and reporting. Including client meetings, forecasting, annual review, and internal accounts in time tracking, Harvest offers quick billing processes and streamlined accounting operations. Harvest charges $10.80 per user monthly, but they also have a free version. Note that these rates may change at any time.
How Do You Choose the Best Time Tracking and Billing Software for Accountants?
When selecting the best time tracking and billing software for accountants, you should consider a few key factors that will ensure optimal efficiency and accuracy in managing client invoicing and time management, ultimately to keep your clients’ trust and your credibility as a firm:
- Assess the features offered by different software options such as integration capabilities with accounting systems, customizable invoice templates, and mobile access for on-the-go tracking.
- Evaluate the level of security measures to protect sensitive financial data
- Test the ease of use and training required for implementation.
- Consider the scalability of the software to accommodate your growing client base and business needs.
- Research and compare various software solutions based on your practice’s unique concerns.
When you follow these, you eliminate the chances of getting disappointed with the time and billing software you purchase. Make sure that the services and products you buy don’t fall short of your expectations by testing them well.
Is Offshore Accounting a Good Option for Your Business?
Definitely. For those who are used to in-house or onshore teams that are new to the setup, more and more offshore accounting companies have been employing highly sophisticated and technologically advanced time tracking and billing software for accountants. This way, their clients can streamline their processes, improve accuracy in billing, and gain valuable insights into how their teams are performing.
While enhancing efficiency can come with a hefty price tag, you still reduce costs significantly due to lower labor costs offshore. With offshore accounting, you can monitor project timelines, ensure your employees’ adherence to deadlines, and identify the areas for process improvement while maintaining the quality of work and freeing up space in your capacity – all for a fraction of the cost.
TOA Global: Quality Offshore Work Equipped with Time Tracking and Billing Software for Accountants
TOA Global offers cost-effective services without compromising on the level of service provided. Using top-rated time tracking and billing software for accountants, we streamline your processes and improve overall efficiency, while also ensuring that your firm’s most sensitive financial data is handled securely and in compliance with all regulations.
Don’t miss out on top-notch professional services with significantly slashed costs. Talk to us today.
