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Top 5 Time and Billing Software for Accountants in 2024

Top 5 Time and Billing Software for Accountants in 2024

Published

Jul 10, 2024

10 min
Time and billing software for accountants

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.

  1. Uku
  2. Financial Cents
  3. Karbon
  4. Harvest
  5. QuickBooks Time
UkuFinancial CentsKarbonHarvestQuickBooks Time
Capterra4,74,8 4,74,64,7
G24,8 4,8 4,8 4,54,5
Most popular plans price (per user/per month)38$59$89$10,80$10$ + 40$ monthly fee

1. Uku – time and billing software for accountants working in small to medium-sized firms

Uku 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”. 

Uku’s key time and billing software features:

  • Time tracking – stopwatch, manual entry, bulk entry
  • Time estimations and automatic time entries
  • Billable and non-billable time entries
  • Analytical time-usage reports
  • Automated data collection and invoicing
  • Master contract templates and company default settings as well as settings by client
  • Flexible and personalizable pricing options – time, fixed, item, and a combination of the previous. 
  • Minimum time and rounding on invoices
  • API and integrations with accounting software like Xero and QBO

Why accountants love Uku: 

Comprehensive toolkit made for accounting firms

Uku 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.

It plays well with others

Uku integrates well with major accounting software like Xero and QBO, allowing for easy import of clients and products, as well as export of invoices.

Fully automated billing

If your team uses Uku 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 Uku with your accounting software. 

Sounds good? Book a 30-minute personal Uku demo or Create a free Uku account

Uku’s pricing:

  • Solo plan: Free
  • Team plan: $38-49/month per user
  • Enterprise plan: $58-75/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. Harvest – time and billing software for accountants with a small budget

Harvest goes beyond being a time and billing solution for accountants. The software is for many industries, including law, construction, marketing, etc.

Harvest’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 Harvest:

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, Harvest helps simplify workflows when working on different tasks or programs.

Scalable Prices for Teams of All Sizes

Harvest 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

Harvest 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 Harvest with other tools or consider alternatives.​

Dependency on Internet Connection

Harvest requires a stable internet connection for its desktop and web versions to function effectively which can be a limitation in areas with poor connectivity.

Harvest’s pricing

  • Harvest plan: Free
  • Harvest Pro plan: $10,80/month per user

5. QuickBooks Time – time and billing software for accountants using QuickBooks

QuickBooks Time is supposed to be the perfect time and billing software for accountants to be used alongside QuickBooks. The seamless integration between the two makes it perhaps the most precise time-tracking tool for QBO users.

QuickBooks Time’s key time and billing software features:

  • Time tracking – timesheets, mobile time tracking, and time kiosks
  • GPS tracking for employees
  • Customizable reports with predictions
  • Integrations with QBO, etc.
  • Geofences for team management
  • Team task management
  • Flexible pricing options

Why businesses love QuickBooks Time:

Easy-to-use time tracking

The seamless integration with QuickBooks Online and Desktop simplifies time tracking and invoicing for employees and managers. The mobile app makes QuickBooks Time convenient for remote and on-site workers .

Accurate reporting improves business decisions

QuickBooks Time reports provide insights into project profitability, employee productivity, and overall business performance.

Great integrations with QuickBooks

QuickBooks Time integrates well with QuickBooks Online, QuickBooks Desktop, and other payroll software, providing a unified platform for managing finances and time tracking. This integration eliminates the need for multiple systems, reducing complexity and improving efficiency.

Cons and challenges:

Limited integration options

Compared to some competitors, QuickBooks Time offers fewer integration options. While it connects well with major payroll solutions like Gusto and QuickBooks, businesses needing a wider range of integrations might find this limiting.

Confusing user interface

Some users report that the user interface can be confusing and not always intuitive. Navigating certain features can be challenging and require additional time. The mobile app also tends to require frequent software updates, making the new app always confusing for existing users.

Costly for smaller and very large businesses

The base-plus-subscriber fee model can be costly for large or small businesses. The Elite plan, which includes advanced features like geofencing and mileage tracking, comes at a higher cost, which all companies may not justify.

QuickBooks Time’s pricing

  • Premium plan: 20$/month + 8$/month per user
  • Elite plan: 40$/month + 10$/per user per month

The verdict of time and billing software for accountants

Selecting the right time tracking and billing software is more than just a convenience – it’s a strategic decision that can significantly improve your firm’s efficiency, accuracy, and client satisfaction. Each solution comes with its unique strengths and target audiences, reflecting the diverse needs accounting professionals can have. 

Start with assessing your firm’s specific needs, e.g. the need for advanced features, billing customization, or integration with your existing systems. This way you can choose a solution that not only meets your current needs but also supports your company’s growth. 

For more detailed information, read more from Karbon, Financial Cents, and Uku.

UkuFinancial CentsKarbonHarvestQuickBooks Time
Capterra4,74,8 4,74,64,7
G24,8 4,8 4,8 4,54,5
Most popular plans price (per user/per month)38$59$89$10,80$10$ + 40$ monthly fee
Juuli Pihel
Marketing Specialist at Uku

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