Top ” Time and Billing Software ” for Accountants in 2024
The right time and billing software for accountants is a godsend for accounting firms – it helps boost productivity and by automating tedious manual labor, data collection, and billing. Traditional spreadsheets or paper-based time tracking and billing methods are unreliable and require a lot of manual work. Time billing software automatically tracks billable hours, generates invoices and sends them out after proofreading.
Yet, choosing the software can feel like a gamble. There are countless solutions on the market and choosing just one feels like a big commitment – importing data, setting up your workflows and onboarding your team can take considerable time and effort. It’s not a choice to be taken lightly.
Thankfully, several time billing software for accountants stand out for their features, usability, and integration capabilities. Here’s a detailed look at the top six time billing solutions in 2024.
- Turbocomply
- Financial Cents
- Karbon
- Uku
1. Turbocomply – time and billing software for accountants working in small to medium-sized firms
Turbocomply started off as a mainly time tracking and billing solution for accountants but has quickly evolved into so much more. It’s a powerful and easy-to-use accounting practice management software with a catchy slogan: “Freedom to do less”.
Turbocomply’s key time and billing software features:
- Time tracking – stopwatch, manual entry
- Time estimations and automatic time entries
- Billable and non-billable time entries
- Analytical time-usage reports
- Automated data collection and invoicing
Why accountants love Turbocomply:
Comprehensive toolkit made for accounting firms
Turbocomply has a well-rounded set of features covering most of the accounting operations, including workflow and task management, time tracking, detailed business analytics, and automated billing.
Fully automated billing
If your team uses Turbocomply to track their work, you can generate and send out tens or even hundreds of invoices in as little as 30 minutes. Export them to your accounting software or send them out directly to your client – the choice is yours.
Flexible pricing options
You can set up specific dynamic pricing for each customer and easily customize the invoices if needed. Choose between several pricing options, set minimum time, use rounding, and create custom fields, etc.
Cons and challenges:
Learning curve
If you have a more complex pricing model, you might find it time consuming to set up by yourself. It’s a good idea to consult the support team. They’ll help you launch your systems in no time.
You need to integrate your accounting software
If you want to automatically track received payments, you’ll need to integrate Turbocomply with your accounting software.
Sounds good? Book a 30-minute personal Turbocomply demo or Create a free Turbocomply account.
Turbocomply’s pricing:
- Solo plan: Free
- Team plan: $10-12/month per user
- Enterprise plan: $15-20/month per user
2. Financial Cents – time and billing software for accountants who want an easy solution
Financial Cents is a practical and efficient accounting practice management software with the focus on quick implementation, ease of use and small learning curve. It can also be used as a time and billing software for accountants.
Financial Cents’ key time and billing software features:
- Time tracking – stopwatch, manual entries
- Time estimatations and budgets
- Billable and non-billable time entries
- Analytical reports to gain insights into profitability
- Billable rates to see how much you are owed
- Invoicing when integrating with QBO
Why accountants love Financial Cents:
User-friendly interface
Financial Cents focuses on easy design, which makes it simple to navigate, reduces the learning curve and saves time during onboarding.
Powerful workflow management
It simplifies tracking and managing tasks with deadlines and automated reminders.
Affordability
Financial Cents provides essential features for good prices without compromising on quality.
You can give tasks to customers
you can send clients automated requests, e.g. about providing documents and the system automatically follows up until they get it done.
Cons and challenges:
Not very customizable
the options to customize workflows and reports can be limited.
Can fall short on advanced needs
while cost-effective, Financial Cents can lack some advanced features found in more expensive solutions. Assess beforehand if the available features meet your needs and explore complementary tools or workarounds where necessary.
Financial Cents’ pricing
- Team plan: $49/month per user
- Scale plan: $69/month per user
3. Karbon – time and billing software for accountants with considerable budgets
Karbon has been a serious player in the market since 2014. It’s a collaborative practice management platform for bigger accounting firms.
Karbon’s key time and billing software features:
- Time tracking – stopwatch and timesheets
- Time estimations and budgets
- Automated invoicing with time based, fixed fee, and recurring billing
- Customizable invoices
- Invoice collaboration with colleagues
- WIP and Realization Reports
- API and integrations
- Payment options and auto-payments
Why accountants love Karbon:
Collaboration at its core
Karbon’s main focus is on team collaboration, which makes it perfect for bigger accounting teams.
Detailed reporting
Karbon provides reports on time spent, task progress, and team performance, helping you understand your profitability and optimize the billing processes.
Cons and challenges:
Setup takes time and effort
With the wide range of features, setting up Karbon can be overwhelming and time-consuming for new users. It’s triage system is sometimes difficult to get used to and might get overwhelming for not as tech-savvy accountants.
Higher pricing
Karbon’s pricing is relatively higher ($89$ per user/per month) than some competitors’ and may not be suitable for very small firms or solo practitioners.
Karbon’s pricing
- Team plan: $59/month per user
- Enterprise plan: $89/month per user
4. Uku – time and billing software for accountants with a small budget
Uku goes beyond being a time and billing solution for accountants. The software is for many industries, including law, construction, marketing, etc.
Uku’s key time and billing software features:
- Time tracking – Stopwatch, manual time entries, weekly timesheets
- Time tracking integrations – Asana, Slack, Trello, and many more.
- Budgets according to time tracking
- Time reports and analyzing
- Creating invoices
- Online payments
- Integration with QBO and Xero
Why businesses love Uku:
Insightful Reporting to See Actionable Insights
It provides reporting features that turn time-tracking data into actionable insights. These reports help businesses understand project profitability, team capacity, and overall business performance, enabling better decision-making and resource management.
A Large Number of Integrations
By integrating with many popular tools, Uku helps simplify workflows when working on different tasks or programs.
Scalable Prices for Teams of All Sizes
Uku supports teams of all sizes, offering discounts for large teams and special pricing for nonprofits and educational institutions.
Cons and challenges
Limited Project Management Features
Uku does not offer comprehensive project management features like task assignments and workflow automation like many others. Businesses looking for a full-fledged project management solution might need to integrate Uku with other tools or consider alternatives.
Dependency on Internet Connection
Uku requires a stable internet connection for its desktop and web versions to function effectively which can be a limitation in areas with poor connectivity.
Uku’s pricing
- Uku plan: Free
- Uku Pro plan: $38/month per user
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