Time & Billing Software for Accountants & CPAs

To get the most from your time tracker tools and billing and invoicing software, they need to be connected to your firm’s existing systems.

This is referred to as integration; when you link up your separate online or digital software to form one, streamlined system. For example, you could connect your time tracker tool to your payroll system to help calculate an employee’s overtime with greater accuracy.

Integrating your systems means less manual data entry and fewer errors. It can also free up valuable time which can instead be spent on higher-value, billable work.

You can achieve a whole new level of efficiency by integrating your time-tracking and billing systems.

In practice, this could look like connecting your time-tracking software with your billing software. As your billable hours are logged accurately into your time-tracking system, those figures funnel straight through to your billing software.

This means less time spent on manual data entry and a much smaller window for potential error or miscalculation.

Time-tracking tools and similar specialist software can help you maintain an accurate record of hours worked.

A time tracker not only helps with capturing every minute of those all-important billable hours, but it can also record:

• Who’s worked on which project
• Time spent on smaller tasks within a project
• How long a project has taken overall

Most online or cloud-based time-tracking software can function automatically, meaning staff don’t have to worry about manually stopping or starting a timer.

By automating your invoicing process, your firm can produce comprehensive invoices without any time-intensive manual data entry.

Data from your time tracker tool is shared with your invoice system, which uses the information to generate client-ready invoices. You can also program your software to autofill details like:

• Client’s name and address
• Breakdown of services and costs
• Suitable payment terms
• Instructions on how to submit payment

Depending on your requirements, you can also instruct your system to generate invoices on set days. This provides clients with a level of consistency while also improving your cash flow.

Offering clients the option to pay online often results in quicker payments, which has a positive knock-on effect on your cash flow. Some electronic payment methods even allow you to facilitate online payment through your invoice or bill.

Systems like this can also help with:

• Tracking late submissions (and managing compliance)
• Controlling submissions below contracted hours
• to potential concerns