This post will explain Time and billing software. Billing and invoicing can be a particularly difficult element of the project completion process, especially when it comes to the business-client relationship. We all want to give a reasonable quotation and deliver honest service that fosters trust.
Fortunately, this is where time and billing software comes in handy. We can keep track of our billable hours and generate clear reports for our clients.
Top 10 Best Time and Billing Software For Business and Freelancing
In this article, you can know about Time and billing software here are the details below;
This article discusses how billing works and what features to look for in time and billing software for freelancers and other sorts of businesses. It also highlights the top 10 time and billing software for freelancers and other types of businesses.
What is the difference between time and billing?
Whether you’re a freelancer, a small business owner, or the CEO of a fast-growing startup, we all want to know how much time we spend working. For our company to survive and develop, we must always be aware of how much time we spend at work, how much of it may be invoiced, and how we should convey this information to our clients.
Billing can be divided into two categories:
- Flat rate – used by organizations/businesses that charge a fixed rate per project, regardless of the portion of time it takes to complete it; 2. Hourly rate – used by firms and people who charge for the time spent on each new job.
Designers, independent writers, programmers, accountants, attorneys, and other professionals who bill by the hour are the most common.
If you’re still having trouble with billing and invoicing, we’ve put together a detailed guide that covers all of the main issues and solutions, as well as frequently asked questions.
You’ll need time tracking and billing software if you employ hourly billing like they do. But how will you comprehend which one to pick?
The sections below should assist you in determining which time tracking and billing app is ideal for your needs.
Features that every time and billing software should have
When you begin looking for a time and billing app or programme, you’ll quickly run into a roadblock: which one will work best for you?
While time tracking varies per industry, there are a few important boxes that must be checked in order to get most boom for your buck. We’d like to provide you with some further information in the following section. You would spend a-lot of time and we wouldn’t be doing our job if we just listed a dozen apps and let you choose by trial and error. As a result, we settled to break down each app by the features it must have in order to help you compute out which solution is ideal for you.
These crucial aspects should be included in any decent time and billing software:
- Time tracking – billable and non-billable hours 1. Task assignment (also project/client assignment)
- Invoice reports
- Creating invoices
- A version for mobile devices
- Reasonable prices
Let’s look at why each of these characteristics is so significant.
1. Assignment of a task
You should be able to organise your project into tasks, schedule them, and track time for each one with the software you use.
Because not everything you do will be billable time, you’ll need to be able to tell the difference between work you can charge and work you can’t (such answering emails or producing invoices).
Second, if you’re in charge of a team, you’ll want to be able to set various rates for each team member, as well as allocate tasks and projects to them.
2. Keep track of your time
The software should allow you to track the hours spent on the project once you’ve assigned the jobs. If it allows you to mark a task as billable or non-billable, that’s even better. This will only aid in the completion of final reports.
You’ll also want to be able to track these hours across numerous projects or clients. After all, very few of us are working on just one project at a time, and keeping track of all of them at the same time is difficult. Time tracking is more important than ever before. Companies in the United States alone are estimated to have wasted $37 billion due to ineffective meetings.
Reports on billing
The main goal of time tracking and billing is to be able to charge your time fairly. Billing reports assist you in producing correct invoices and maintaining complete transparency with your customers.
At the end of the project, any excellent time invoicing software will allow you to create a billing report. It will be considerably easier to prepare an invoice and gain more insight into your process if billable and non-billable times are displayed in a graph or spreadsheet.
You can utilise the reports to refute a client’s claims if he or she tries to avoid paying or has a problem with the price. Consider billing reports as a safety net in the event of a disaster.
4. Creating invoices
Making an invoice will be lot easier after you’ve created a billing report.
Many of these software companies choose to collaborate with a service like PayPal, Payoneer, or Venmo because not every online tool includes invoicing.
If you’re having problems finding good invoicing apps, we’ve compiled a list of the best free invoicing apps available.
5. A mobile version that is stable
If the software has a mobile version, you and your team (if you work with one) will get the most out of it. Due to the constraints of smartphones, mobile apps usually have a much simpler UI and are more accessible.
In Clockify’s mobile app, for example, a user can select their work and begin the time by touching a button on the screen. They simply tap it again to cease tracking after they’re finished. Isn’t it simple? And it’s for this reason that many business owners and freelancers choose to have a mobile application to go along with their desktop software.
It’s no surprise that we find it more convenient to have most of our operations under our thumbs, given that we spend roughly 88 percent of our phone time in applications (with the remaining 12 percent spent perusing the Internet).
6. It should be reasonably priced.
It’s only reasonable to seek the most “bang for your buck” possible.
When it comes to selecting the best software for your company, look for options that provide at least free trials.
These six elements have the potential to make or destroy a time and billing software. Now that you know a bit more about time and billing software, let’s take a look at ten of them and see how they stack up against the features stated above. Also check Best USB Data Recovery SoftwaresÂ
The most effective time-tracking and billing software
Here are our greatest picks for the best time and billing software, taking into account all of the important features. • Clockify • Toggl Track • Paymo • Bill4Time • Nutcache • HoneyBook • Housecall Pro • TimeLinx • Zoho Invoice • FreshBooks are among the time tracking and invoice software offered.
1. Clockify
Clockify is a powerful time and billing software. It allows you to keep track of a project’s progress and task billability from beginning to end. Clockify considers your demands on all fronts, whether you’re a freelancer, a small business, or a large corporation.
AVAILABILITY OF TIME AND BILLING FEATURES
- Assigning a task, a project, or a client
- Yes, you can track your time.
- Reports on billing Yes
- Yes, you can create an invoice.
- Yes, there is a mobile version.
Pricing
For sophisticated features, there is a $6/month charge on top of the free plan.
2. Track Toggl
TogglTrack is a popular time-keeping software that also includes payroll management and staff activity tracking. It focuses more on the productivity side of things, assisting in the identification of squandered time as well as any opportunities for development.
AVAILABILITY OF TIME AND BILLING FEATURES
- Assigning a task, a project, or a client
- Yes
- Yes, you can track your time.
- Reports on billing
- Yes, although the free plan has restricted possibilities.
- No, invoice creation is not possible, but there are invoicing app integrations available.
- Yes, there is a mobile version.
Pricing
$10/month for full features + free plan
3. The paymo system
Paymo is mainly a project management tool, but it also solves the problem of storing project tracking and billing in one place for many small and medium organisations. Because of the free version, it is a good time and billing software for freelancers, but teams will have to pay for one of the commercial plans.
AVAILABILITY OF TIME AND BILLING FEATURES
- Yes, I’ve been assigned a task, a project, or a client.
- Yes, you can track your time.
- Reports on billing Yes
- Yes, three on the free plan, limitless in the higher plans.
- Yes, there is a mobile version.
Pricing
One user is free, however full services cost $9.95 per month per user.
4. Bill4Time
Bill4Time is a software designed for attorneys and other professionals who want more detailed invoices and expenses. Bill4Time not only has all of the capabilities of standard time tracking software, but it also has trust accounting, a client portal, case management, extensive reporting, and more. Also check Best OCR Software
AVAILABILITY OF TIME AND BILLING FEATURES
- Assigning a task, a project, or a client
- Yes, you can track your time.
- Yes, billing reports are available. Yes, invoices can be created.
- Yes, there is a mobile version.
Pricing
Full functionality are $27 per user per month after the free trial.
5. Nutcache
Nutcache, another project management application on the list, was designed for freelancers and small teams. It features a very user-friendly layout and includes an integrated invoicing tool for project-based billing. You can also make budget projections for a project ahead of time.
AVAILABILITY OF TIME AND BILLING FEATURES
- Assigning a task, a project, or a client
- Yes
- Yes, you can track your time.
- Reports on billing Yes
- Yes, you can create an invoice.
- Yes, there is a mobile version, however it is simply for time tracking.
Pricing
Free for the first 20 users, then $7.95 per month per user for full features.
6. HoneyBook
HoneyBook is an excellent project billing software for service-based businesses.
This app is frequently recommended by freelancers and entrepreneurs in the creative field (photographers, musicians, stylists, make-up artists, and so on) since it is quick, simple, and to the point. HoneyBook is for people and small business owners who don’t want to think about bureaucracy too much because it comes with a lot of the necessary pre-made resources.
If you want to optimise your workflow even more, the software includes invoice templates, time tracking, contract templates, and some team management capabilities.
AVAILABILITY OF TIME AND BILLING FEATURES
- Yes, I’ve been assigned a task, a project, or a client.
- Yes, you can track your time.
- Reports on billing Yes
- Yes, you can create an invoice.
- Yes, there is a mobile version (iPhone and Android)
Pricing
Trial period is free; full features are $9 per month.
7. Housecall Pro
Among billable hour software, Housecall Pro is quickly gaining popularity.
Work orders, recurring billing, scheduling, and field service management are among the characteristics that make it popular as a service dispatch software in the construction and other service industries. Housecall Pro is a multi-functional solution for mid- to large-sized organisations.
AVAILABILITY OF TIME AND BILLING FEATURES
- Yes, I’ve been assigned a task, a project, or a client.
- Yes, you can track your time.
- Reports on billing Yes
- Yes, you can create an invoice.
- Yes, there is a mobile version (iPhone and Android)
Pricing
Full functionality are $49 per user per month after the free trial.
8. TimeLinx
Timelinx is a project management and service management solution. It includes team management, CRM, project management, accounting interfaces, business intelligence, and much more, in addition to time tracking and billability. It’s a perfect time tracking and invoice software for larger firms and enterprises, thanks to its extensive feature set. Also check video editing softwareÂ
AVAILABILITY OF TIME AND BILLING FEATURES
- Assigning a task, a project, or a client
- Yes
- Yes, you can track your time.
- Reports on billing Yes
- Yes, you can create an invoice.
- Android-only mobile version
Pricing
There are no free of cost versions or trials available; only premium plans are available.
9. Zoho Invoice
Zoho Invoice is a tool that is part of Zoho’s cloud software portfolio. It’s a time-tracking and billing system that works online. Its user-friendly toolset highlights the importance of streamlining the invoicing process. It has configurable templates, estimations, and spending monitoring that suit freelancers and small enterprises better than larger corporations.
AVAILABILITY OF TIME AND BILLING FEATURES
- Assigning a task, a project, or a client
- Only project assignment, time tracking, and invoicing are available; no timesheets or personnel database are available.
- Reports on billing
- Yes, invoices can be created. Yes, there is a mobile version.
Pricing
Contact us for further features.
10. FreshBooks
Freshbooks is a piece of software created specifically for self-employed people. It has a lot of different choices for customer payments, project administration, and cooperation. It’s a one-stop shop for small businesses that require a little extra information on their invoices (payment reminders, tax summaries, expense reports, etc.).
AVAILABILITY OF TIME AND BILLING FEATURES
- Assigning a task, a project, or a client
- Yes, you can track your time.
- Yes, billing reports are available. Yes, invoices can be created.
- Yes, there is a mobile version.
Pricing
Free trial, then $6 per month for full access.
These are simply five of the best time tracking and invoicing programmes on the software right now. Despite completing the same work, they provide a very distinct experience.
To sum it up
Choosing the finest time and billing software is mostly determined by your company’s requirements. It will depend on the size of your business, the number of clients you have, and the priorities you set for invoicing and billing. Those who are still undecided about which software would be best for them should go for one that is both economical and has the most functionality. After a while, you’ll be able to tell if you need anything else from your billable hours software.
