With Time Tracking and Billing software, you can track hours invested in tasks, projects and other such deliverables. Further, you can generate and customize billing and invoices for your clients with fees, discounts, and terms. Such online invoicing makes it easier to bill clients and get paid faster.
All of this cannot be done merely with a clock!
You need an advanced billing and invoicing software that will keep track of the hours at which you carry out particular tasks.
Today, time and billing software is the need of the hour. It is one of the most significant accounting systems, especially for companies who offer professional services. Agents, doctors, lawyers, consultants, and even freelancers can bill their customers according to the time they’ve spent engaging with them.
In this article, we are going to look at the top 3 best time and billing software of 2019. They can measure accurate billing for your customers or precise payments for employees.
Time And Billing Software
1. Replicon TimeBill
Replicon TimeBill is an end-to-end time and billing software. It appeals to large-scale organizations who want to capture, manage and optimize their employees’ time effectively. However, the software is suitable for all business sizes, as it helps in time optimization and improves team productivity, profitability, and employee satisfaction. It helps you get a bird’s eye view into every minute spent by the employee at work. Hourly workers, as well as permanent employees, appreciate the simple user interface that Replicon offers. Moreover, You can log in your specific time, vacations, attendance and expenses data- either via mobile app or web browser. In like manner, finance and project management teams can reap full benefits from accurate, real-time reports provided in Replicon that indicates business performance as regards to labor utilization, delivery time, client billing and other important KPIs.
Key Features of Replicon TimeBill
- Advanced Project Tracking: Create, manage and optimize multi-level projects of clients within seconds. Define milestones and budgets for different projects.
- Analyze Project Performance: It provides real-time resource availability and project status. So, project managers can resolve project cost and delivery problems efficiently, if any.
- Resource Optimization: Replicon allows real-time visibility into allocations and resource availability of global projects. Thus, making it easier for resource managers to boost their billable utilization.
- Improved Profitability: This time and billing-software provide deeper visibility into services time along with flexible contract modeling to maximize profitability.
- Revenue recognition: It lets you quickly merge revenue with billing, WIP and contracts. With that, you can generate accurate revenue forecasts utilizing complete real-time data. Moreover, you can view all resources across your organization, easily manage their allocation and assign resources to projects on-the-go.
- Accurate Billing: Invoice your clients and take full control of cash flows with a centralized dashboard of all clients.
- Apart from this, Replicon TimeBill features multiple billing rates for different users, analytics on time usage, expense management, project budgeting, time tracking along with time sheets.
- Quick Start Package - Track time against your clients and projects: $60/month for up to 5 users. Also, you can pay $10 Per additional user.
- Easy user interface
- Allows you to request multiple vacation days.
- The detailed granularity of projects.
- Full visibility into project pipelines: billing time to accurate invoice.
- Auto-save feature.
- Reporting templates need to be more easy-to-use.
TimeLive by Livetecs is a timesheet tracking solution, ideal for small-scale and mid-size enterprises with consultation, travel, manufacturing, software development, retail, and other such niches. Companies can track the performance of employees, their related expenses and further compare them for each task. The user-friendly interface of TimeLive lets you capture, manage and optimize employee time, projects, resources- so you can plan and carry out schedules to boost productivity and resources. TimeLive deploys on-premise and it also has its own mobile application for iOS and Android platforms.
Key Features of TimeLive
- Timesheet Tracker: Keeps track of employee’s time spent on specific projects, tasks and helps to improve their efficiency. Records time tracking data into the web-based timesheet.
- Expense Tracker: Manage and keep track of expenses spent against each project and task.
- DCAA Timesheet: DCAA-compliant feature simplifies the auditing process in an adept way.
- Time and Billing: Records time spent on projects and then bills them to clients with firm evidence.
- Quickbooks Time Tracker: Allows easy transferring of information between QuickBooks Timesheet Software and TimeLive.
- Customizable Reports: Customize expenses, projects, and reports on the online timesheet.
The starting price is $3/user
- Affordable price
- Excellent customer support
- Ideal for most companies
- Simple to use
- Automated approvals
- No auto-save feature
- A bit difficult to customize
3. Time & Billing Solutions
Time and Billing Professional is deliberately designed for consultants, accountants, law firms and other such service companies that need a smart tool to bill their clients.
It effortlessly records the hours and expenses you’ve spent on a project whilst you engage with the client.
Furthermore, it generates accurate invoices with detailed evidence. This way, companies can focus more on serving their clients better, rather than generating bills.
Key Features of Time and Billing Professional
- Fully-integrated solution: Time and Billing Professional is fully integrated with Sage 100cloud/ Sage 100 accounts receivable module. Which is why, it can easily manage your finance charges, cash flows, and statements. All receivables are centralized in a single module, so you get a better view of your clients and their accounts for easier management. It also integrates with accounts payable for expense management and general ledger to log in work-in-process.
- Configurable Features: Enterprises will have seamless user experience with other Sage 100cloud/Sage 100 modules. Besides, it helps you leverage “common data” utilized by these modules, thereby, reducing repetitive entries. This helps to keep the information accurate and updated.
- Time and Expense tracking: It offers engagement-level billing options such as billing rates, fee arrangements, budgeting, and bill formats. You can set up work codes to differentiate between expenses and service types. Quickly generate reports on expense and time entries for every working code, employee, client or project.
- Billing options: With Time and Billing Professional, you can define billing formats and billing terms specific to each customer. Bill text will help you provide details that your clients want to see on their generated invoices. It even allows you to send separate bills to client addresses to ensure invoices are delivered to the right location.
- Supports up to 10 different billing rates for each employee
- Supports custom billing terms for budgets, project billing rates, and clients
- Engagement, work code, customer and employee terminologies are configurable as per your business
- The customizable invoice with detailed fee and expense information
- Integrated with sage 100 accounts receivable, making it easier to respond to customer inquiries
- WIP reporting
- Clean user-interface
- Price quotations aren’t mentioned