Table of Contents
In need of the best time tracking software for accountants? Then this article is for you. There are great options of software for you to consider for accountants and get the best time tracking results you desire. The software you choose or make use of will depend on your needs and size of your firm.
Let’s see them!
1. Paymo
2. Toggl Track
3. Harvest
4. FreshBooks
5. Hubstaff
Overview of the Best Time Tracking Software for Accountants
How to Choose the Best Time Tracking Software for Accountants
Pros and Cons of the Best Time Tracking Software for Accountants
What to watch out for
Pro Tips
Recap
1. Paymo
Paymo is a project management software designed to help small and medium-sized businesses manage their projects, time, and clients. It’s a great all-in-one solution for accountants who need to track time, manage projects, collaborate with clients, and generate invoices. Plus, it integrates with popular apps like Google Calendar, Slack, QuickBooks, and more. So, if you’re looking for a project management tool that’s easy to use and has all the bells and whistles you need, Paymo might be the way to go.
- Project management tools to help you plan and organize your projects.
- Time tracking features to keep track of your work hours and productivity.
- Client management tools to manage your clients and projects.
- Expense tracking and reporting tools to keep an eye on your expenses and income.
- Easy-to-use interface that’s simple and intuitive.
- Great invoicing tools to create and send invoices to your clients.
- Integrations with other popular business apps to make your life easier.
- Limited project management features compared to other tools.
- Limited time tracking features.
- Limited reporting features.
- Limited expense management features.
- Limited integration options.
- Limited customer support.
Project management: Create tasks, assign them to team members, set deadlines, and track progress in real-time.
Time tracking: Track time on tasks and projects to improve productivity and efficiency.
Invoicing: Create, customize, and send invoices to clients directly from Paymo.
Expense tracking: Track and manage expenses and invoices for better budgeting.
Client management: Manage client relationships by creating client profiles, managing tasks and projects, and communicating directly through the platform.
Reporting: Generate reports on project status, time tracking, and expenses to gain insights into team performance.
Integrations: Integrate with other popular business tools like Google Calendar, Slack, QuickBooks, and more.
Mobile apps: Access and manage projects on-the-go with Paymo’s mobile apps for iOS and Android.
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2. Toggl Track
Toggl Track is a great option for time-tracking software. It’s a cloud-based solution that’s designed to be easy to use and affordable. It offers a variety of features, including time tracking, reporting, and integration with other software. It also has a free plan, making it a great option for small businesses and freelancers.
- Offers mobile apps for iOS and Android.
- Provides a wide range of integrations with other software.
- Has a variety of reporting options.
- Offers good customer support.
- Offers free plan.
- It is easy to use.
- It is affordable.
- The free plan is very limited.
- The user interface can be confusing.
- The reporting features are not as robust as some other software.
- It does not offer an offline mode.
- It is not suitable for teams that need to track complex tasks.
- It does not offer a dedicated desktop app.
Easy-to-Use Interface: One click starts and stops timers, cutting down on the amount of time spent tracking.
Automatic Time Tracking: Toggl Track provides an accounting software Chrome plugin that allows users to automatically track time spent using several well-known accounting programmes.
Multiple Report Types: To comprehend time allocation, generate reports based on a project, customer, user, or tag.
Discover Trends: Examine reports to determine time allocation and streamline processes.
Enhanced Billing Accuracy: Generate precise and comprehensive bills for clients by utilizing time tracking data.
Free Plan: Ideal for freelancers or small accounting teams, this tier is free for up to five people.
Several Platforms: includes browser extensions for smooth time monitoring and is available on the web, desktop (Windows/Mac), and mobile (iOS/Android).
Team Management: Features for managing teams and user rights are available in paid plans, which is beneficial for larger businesses.
Integrations: Provides a uniform workflow by integrating with a variety of project management and accounting applications.
3. Harvest
Harvest is another popular time-tracking software. It’s a cloud-based solution that’s designed to be simple and easy to use. It offers a variety of features, including time tracking, reporting, and integration with other software. It also has a free plan, making it a great option for small businesses and freelancers. The main pros of Harvest are its simplicity, its affordability, and its wide range of integrations. Its cons include its lack of customization options and its lack of a dedicated desktop app.
- Has a simple, user-friendly interface.
- Offers affordable pricing plans.
- Provides a wide range of integrations.
- Provides reporting features that are easy to use and customize.
- Has the ability to track time on multiple devices.
- Has the ability to track time for multiple projects.
- Has the ability to track time for multiple people.
- Offers the ability to track billable and non-billable time.
- Has the ability to generate invoices based on tracked time.
- Lacks customization options.
- Lacks a dedicated desktop app.
- Offers no free trial.
- Limited ability to track complex projects.
- Limited ability to track multiple users on the same account.
- Lacks a dedicated support team.
- Lacks advanced reporting features.
- Lacks advanced features, such as expense tracking or project management.
Time Tracking: Harvest provides easy-to-use timers through their mobile app, web app, and Chrome and Firefox browser extensions. Time for various jobs and projects can be easily tracked.
Project management: Establish deadlines to keep yourself organized, delegate work to clients or collaborators (if you’re on a higher-tier plan), and create and oversee projects.
Invoicing: Easily create invoices from tracked hours by using templates that you can customize. Additionally, with higher-tier accounts, you can automate reminders for late payments and set up regular bills.
Integrations: Complies with a wide range of third-party applications and services that are pertinent to independent contractors, such as widely used project management programmes, accounting software, and payment gateways.
4. FreshBooks
FreshBooks is a popular cloud-based accounting software that has some cool features for accountants.
FreshBooks has a similar feature set to Harvest, including time tracking, invoicing, and reporting. But FreshBooks has some unique features as well, such as its ability to create estimates and send them to clients, its ability to track mileage and expenses, and lots more.
- Has an easy-to-use interface.
- Offers a low price point.
- Has a wide range of features.
- Offers the ability to accept online payments.
- Has the ability to create financial reports.
- Provides the ability to track mileage and expenses.
- Has the ability to track time for contractors.
- Offers a very user-friendly and affordable option for small businesses.
- Has no customization options.
- Does not integrate with some accounting software.
- Lacks live chat support.
- Has no phone support.
- Lacks a dedicated desktop app.
- Lacks advanced features like project management or resource management.
Invoicing and billing: Create professional-looking invoices, customize templates, and set up recurring invoices for ongoing clients.
Expense management: Track expenses, upload receipts, and categorize expenses for easier expense reporting.
Time tracking: Track billable hours and expenses for accurate invoicing and cost analysis.
Client management: Store client information, contact information, project history, and other details in one place.
Reporting: Generate insightful reports on your income, expenses, profits, billable hours, and project profitability.
5. Hubstaff
Hubstaff is a cloud-based time tracking software that’s designed for businesses of all sizes. It offers a wide range of features, including time tracking, employee monitoring, GPS tracking, and lots more.
Hubstaff also offers integrations with a variety of popular software, including Slack, Google Calendar, and Asana. It also has a mobile app for iOS and Android devices.
Hubstaff is a great option for businesses that need to track time and monitor employee productivity. It’s also a good choice for those who need to integrate their time-tracking software with other software they’re using.
- Has the ability to track time in real-time.
- Offers employee monitoring features.
- Has an intuitive dashboard.
- Provides integrations with other software.
- Has comprehensive reporting and analytics.
- Provides an affordable price point.
- Lacks a free plan.
- Lacks advanced features like budgeting and forecasting.
- Lacks customer support on weekends.
- Limited integrations with accounting software.
Time tracking: It tracks time spent on projects and tasks, even when you’re on-the-go, to help with billing and budgeting.
Screenshots and activity monitoring: Let’s you see what team members are working on and for how long to keep everyone on track.
Productivity tracking: Keeps an eye on productivity metrics like keystrokes and mouse movements to spot trends.
PRO TIPS >>>Â How to Choose a Time Tracking App
Overview of the Best Time Tracking Software for Accountants
There are a lot of software options for time tracking for accountants. Each of these options has wonderful perks that will suit you. Considering any of these options should be weighed against the size of your firm and your budget.
How to Choose the Best Time Tracking Software for Accountants
Selecting the best time tracking software for accountants is similar to striking the ideal balance between cloud convenience, easy invoicing, and accurate tracking.
Here are some key factors to consider:
- Ease of Use. Look for software with a user-friendly interface and intuitive features that make tracking and reporting easy.
- Accurate time tracking. Look for software that allows you to track time on different projects and tasks, even when you’re on the go.
- Cloud Convenience. Opt for cloud-based software for easy data access and collaboration from anywhere.
- Invoicing. Look for time-tracking software that makes the billing process as seamless as possible.
- Integration with accounting software. For easier data transmission and less manual labour, think about a seamless link with your current accounting software.
- Analytics and reporting. Detailed reports on billable hours, project profitability, and team performance can only be produced with strong reporting options.
Pros and Cons of the Best Time Tracking Software for Accountants
Pros
- Simple time tracking, robust invoicing, and project management features.
- Ease of use.
- Advanced features like employee monitoring and project management tools.
Cons
- Limited expense management and reporting features.
- May not be suitable for complex projects with large teams.
- Can be expensive for small teams.
What to Watch Out for
Accuracy: Make sure the software tracks time accurately. This is crucial for accurate invoicing and cost analysis.
Reporting and analysis: Choose software that generates detailed reports and provides insights into team performance and project profitability.
Integrations: Ensure the software integrates with other applications you use, such as accounting software or collaboration tools.
Mobile compatibility: Choose software that offers a mobile app, so you can track time on-the-go.
Customer support: Look for software with reliable customer service.
GET SMARTER >>>Â Best Time Tracking Software for Consultants
Pro Tips
- Test drive:Â Test the software before committing to it. Check if it meets your business needs and workflow.
- Customization:Â Check if the software can be customized to meet your business requirements.
- Security:Â Ensure the software uses robust security measures like encryption to protect sensitive data.
- Scalability:Â Consider if the software can grow with your business and handle increasing demands.
- Cost:Â Compare the pricing plans of different software to find the most cost-effective solution.
- Customer support: Ensure the software provider offers excellent customer support.
Recap
When looking for time tracking software for accountants, you want something that tracks time accurately, offers detailed reporting and analysis, integrates well with other business apps, is mobile-friendly, is secure and scalable, and offers great customer support at a reasonable price.
Consider their pros and cons, so it’s crucial to consider your business requirements and test the software before committing.
Remember, the ideal software will make time tracking a breeze and help you manage your projects efficiently.
