Time and expense tracking software

Manually would be time-consuming vs. CORE Features. Project Management. Human Resources. Accountants and CPAs. Legal Professionals. Government Contractors. App Marketplace. Our Story. Meet the team. News Releases. You can work anywhere in the world — on or offline — on any computer or mobile device. When you are back online, TimeLedger automatically syncs your data.

Each user can select from 40 different languages — either on a regular browser or on our mobile apps. Streamline your timesheet and expense management process with features designed to make the review and approval process simple and efficient.

Your data is stored and transferred securely with SSL encryption and our servers are backed-up continuously — ensuring that you can access your data any time. What Is Time and Expense Software? Screenshot of time card in BillQuick This type of software can be deployed in the cloud, or on premise.

Common Features of Time and Expense Software Features and functionality of time and expense reporting software include: Punch-clock and manual time entry The most basic functionality, which free and high-end products alike will provide: the ability to electronically clock in and out and to manually enter or change clocking times as necessary.

Expense tracking Monitor costs of materials, tools etc. So this feature is there to help you track revenues and expenses by client and project and then export in a way that your accounting software can understand. This helps streamline employee assignments, and becomes especially useful as company sizes grow into the hundreds of employees. Resource planning An advanced feature, this uses historical data and analytics to improve your ability to estimate any given project.

This impacts the accuracy of your bids and optimizes your budgets, so you never end up taking a loss on a project again. Mobile integration Since many consulting companies travel extensively, the ability to integrate this software with your mobile device is often essential.

Thanks to all the features we described in the previous section, the tracking process is less error-prone compared to manual methods. It simplifies workflows. This is especially true if employees in one company are currently using separate spreadsheets or systems to report work time.

It will help you better manage resources. What Type of Buyer Are You? Specialty buyers. Although time and expense reporting is generally considered a feature of PSA software, it could also be considered a function human resources or accounting , and similar features can be found in any number of other specialty suites, including construction software , manufacturing software or others.

If you fit into one of these categories, take a look at those buyers guide to see if other solutions might be more appropriate for your needs. Large professional services firms. Medium or rapidly growing professional services firms. We usually find that this is the sweet spot for the best-of-breed time and expense tracking programs.

These will be focused on optimizing the features described above, and are designed to take medium-sized businesses to the next phase of their growth cycle. Small businesses and solopreneurs. There are a number of free solutions, both for computers and for smartphones, which perform the basic functions listed above.

Even with cross-user compatibility, these subscription-based solutions are very affordable for companies on even the tightest budget. Products to consider include 1DayLater and Harvest. Learn how products are chosen. Connect with a personal advisor who can help you find the right software for your business. Get Your Free Recommendations. Reviews analysis period: The reviews analysis period spans two years and ends on the 15th of the month prior to publication.

The most basic functionality, which free and high-end products alike will provide: the ability to electronically clock in and out and to manually enter or change clocking times as necessary.

Monitor costs of materials, tools etc. The charge can be reduced if paid on annual basis. Xero is accounting software, suitable mainly for small businesses, accounting, and bookkeeping firms. Smaller companies are usually more satisfied with simple and basic online solutions. The bigger the company gets, the more holistic solution it needs, and very often they choose online timekeeping, the solution that is a part of a wider ERP system, CRM system, or accounting software.

Accounting firm managers typically look for online timekeeping software that provides more detailed information, while tech company managers pay much more attention to the design and user experience.

Managers are trying to solve their day-to-day management issues with online timekeeping software. Small businesses usually track their time spent on projects via Excel spreadsheets or their managers rely on intuition.

In our experience, the expected results were significantly different from the actual results after we started time tracking. For example, time tracking showed us that younger consultants spent much more time on billable projects than expected, while the managers much more time on administration than they should have. Some of our largest clients proved to be the least profitable when we were looking at revenue per hour. After a start-up manages to survive the first phase of business its business model proves profitability , the next phase starts when the start-up starts booming and scaling.

Then, all of sudden, it crumbles. Why does this happen? The business gets too large for founders to manage it by themselves. Timesheet software can be one of the management tools for creating the necessary infrastructure for business growth. You can use the online timekeeping solution to track projects and employees easily and free your time to Work on the more important, but less urgent tasks.

Therefore, these companies tend to be very interested in timesheet solutions so they can track costs per project and client. If you are looking for an easy-to-use expense tracking app, specialized for smaller and larger professional service firms, then TimeAnalytics is the best time and expense tracking software for you. Our company offers Time Analytics software, a tailor-made timesheet software for small businesses.

In case you are interested in the day trial version, please register for the automated time and expense tracking. Run Trial. Cost tracking solution: automatically allocate generated costs to clients, projects, and service lines.