Time and Expense Software
Check out the best time and expense software to efficiently track employee timesheet and expenditure
Managing reimbursement expenses and billable hours, smaller or larger, are slightly complicated. Entering data manually into the employee timesheet every week or month to track time is time-consuming. The same issue props up with a traditional spreadsheet where managers have to enter expenditure and hours spent on a project to bill the clients accurately. Enter time and expense software, a centralized online platform that efficiently captures project time and spending from any device, anytime to streamline workflow.
What is Time and Expense Software?
Time and Expense Tracking Software is an advanced solution that automatically and effectively records and tracks the employee timesheet, expense reports and monitors the project's status. The tool helps to record the working hours and control costs with every project.
The time and expense software prove a boon for every business organization, regardless of size, as it escalates team collaboration and productivity. The tool allows various departments to deliver all projects within the stipulated deadline, estimate project costs appropriately, and avoid overspending. This helps the sales team to send accurate billing to the clients.
Online time tracking and expense monitoring applications become more than a handy solution for remote work management.
What are the Different Types of Time and Expense Software?
Time and Expense tools have been broadly classified into two distinct categories-
Simple or Stand-alone Tools- These applications provide simple functionality such as tracking the timeline and capturing the spendings. They usually have basic features and are used by individuals or smaller teams working on simplified projects.
Integrated or Comprehensive Systems- This type of software is extensively used by various departments that include HR, accounting, project management, marketing and sales, and more. They offer a wide range of features, functions, and benefits. Also, these tools are synced with other systems to simplify the workflow of the company.
How to Choose the Best Time and Expense Software?
Choosing an optimum time and billing software from so many variable options can be a time-consuming and tiring job. Refer to the comprehensive list of the best time and expense tracking software prepared by the experts at GoodFirms. This list of top time and expense management tools will help you get familiar with the features, pricing models, and authentic reviews. Picking the best tool to manage billable hours and reimbursement expenses is going to be easy with the right choice.
List of The Time and Expense Tracking Software
Zoho Projects, our cloud-based project management software, helps you plan your projects, track work efficiently, and collaborate with your team, wherever they are. Zoho Projects is loaded with functions that improve team collaboration, making project monitoring easy, and enhancing productivity and output. Plan your project activities, assign work, manage resources and collaborate with your team l ... read more about Zoho ProjectsFree versionAvailable10% in Time and Expense Software
Freshbooks is a holistic accounting and invoicing software for business owners, accountants, and SMEs. This cloud accounting software enables users to become more productive by automatically tracking expenses, cash-flows, generating reports, billing and invoicing, accounts payable, recurring billing, etc. Businesses can eliminate the complexities associated with payroll accounting, time & expense ... read more about FreshBooks$6.00 Per Month30 Days16% in Time and Expense Software
Sage Intacct is a leading accounting software designed to increase business efficiency and drive growth by automating day-to-day accounting processes. The software offers greater insight that helps businesses make current and long-term decisions effectively. Besides this, the software is well-known for its account payable, accounts receivable, and time & expense features. Several industries opt fo ... read more about Sage IntacctContact vendor30 Days11% in Time and Expense Software
QuickBooks Time is proudly part of the QuickBooks family. Thousands of businesses use QuickBooks Time to track and manage employee time for payroll, invoicing, and scheduling. Millions of employees use QuickBooks Time for accurate timesheets and project tracking each day. QuickBooks Time is the best automated time tracking software for construction companies, landscaping businesses, small business ... read more about QuickBooks Time$15 Per Month30 Days25% in Time and Expense Software
Celoxis is a Enterprise online project management solution for midsize to large businesses to help them plan and manage complex and diverse project portfolios. The collective suite includes modules for resource management, budgeting, revenue forecasting, time and expense tracking, reporting and team collaboration.Celoxis includes features such as advanced scheduling, which combines real-world cond ... read more about Celoxis$25.00 Per User30 Days10% in Time and Expense Software
FunctionFox is a web-based timesheet and project management tool for SMEs. The software allows users to streamline multiple projects, track progress, and minimize breakdowns through its powerful features, like task management, time and expense management, time tracking, workflow management, etc. The software supports unlimited users, projects, and clients. Users can have minute-to-minute updates o ... read more about FunctionFox$5 Per MonthN/A25% in Time and Expense Software
BigTime provides Gantt charting, inter-project reporting, and instant access to your team’s progress against due dates and deliverables. Build better processes starting with project creation and budgets through to time, expenses, and billing. Make end of month invoicing the best part of your job by quickly sending custom invoices. ... read more about BigTime$20 Per Month14 Days20% in Time and Expense Software
ActiveCollab is a perfect project management tool for SMEs and large enterprises. The software gives full control over the project from start to finish with features like project management, reporting, collaboration, task management, time tracking, team communication, etc. Besides standard project management services, the tool enhances user experience with features such as in-app chat, project tem ... read more about ActiveCollab$9.5 Per Month14 Days12% in Time and Expense Software
Ravetree is an award-winning workflow management software platform that empowers teams to deliver work faster, be more informed, and spend less time searching for information. Companies use Ravetree to manage their projects, resources, and creative workflows—all in one place. Ravetree eliminates the pain of moving between applications to find important information, relying on cumbersome spreadsh ... read more about Ravetree$29 Per MonthAvailable7% in Time and Expense Software
Bullhorn is the global leader in CRM and operations software for the recruitment industry. More than 8,000 recruitment companies rely on Bullhorn’s cloud-based platform to drive sales, build relationships, and power their recruitment processes from end to end. Headquartered in Boston, with offices around the world, Bullhorn is founder-led and employs more than 700 people globally. ... read more about BullhornContact vendorN/A33% in Time and Expense Software
Harvest is a web-based time tracking and invoicing application relied on by over 40,000 creative businesses all across the globe. Harvest makes time tracking easy, keeping you on top of project budgets without the hassle of spreadsheets. Harvest time tracking can unlock key information about your business, but remembering to do it can be a challenge. Harvest makes it easy to track time and expens ... read more about HarvestFree versionAvailable50% in Time and Expense Software
TimeCamp is an advanced time tracking app which also offers a variety of reporting, billing, and invoicing features. It is the perfect time clock software tool for many small, medium, and large businesses around the world which struggle with cumbersome time tracking programs, inaccurate client bills, and lost and inaccurate reports. Available almost anywhere in the world, TimeCamp tackles and solv ... read more about TimeCampContact vendor14 Days10% in Time and Expense Software
BQE Core is the right system for businesses seeking to augment the accounting process for business growth. It is a simple yet powerful tool for mastering project accounting and cost control. The software makes all the accounting processes seamless by automatically recording and tracking business transactions. The software’s real-time track offers a complete view of the organization’s day-to-da ... read more about BQE CoreContact vendor15 Days14% in Time and Expense Software
Paymo is a modern and intuitive work and project management solution for small businesses and remote teams that bundles advanced task management, planning, scheduling, time tracking, collaboration, and invoicing. This means that you can keep track of the entire lifetime of a project - from creation until getting paid - without having to use and pay for several apps. ... read more about PaymoFree versionAvailable12% in Time and Expense Software
Replicon unified platform helps manage time and costs across your enterprise for enhanced performance and profitability. Notifications, approval workflows, GPS tracking, & more supercharge productivity while freeing HR to focus on more strategic initiatives. Configurable timesheets with advanced mobile capabilities enable time tracking for employees & projects anytime, anywhere. Stay on top of res ... read more about RepliconContact vendor14 Days33% in Time and Expense Software
Time Tracker software helps companies like yours track time and expenses from anywhere in the world, then easily sync with popular business apps like QuickBooks, Xero, Concur and Gusto. You can also add invoicing and simple online payments with Time Tracker +Billing, or add legal features like ABA codes, LEDES invoicing and check for conflicts with Time Tracker +Legal. Your time is important to us ... read more about Time Tracker$6 Per Month14 Days50% in Time and Expense Software
eHour is an open source time tracking software for companies and organizations who need accurate information on how much time is spent on projects by their people. eHour time tracking tool makes the time your people spend on projects visible and available as simple and user-friendly as possible. ... read more about eHour$3.50 Per Month14 Days33% in Time and Expense Software
Everhour is one of the best time tracking tools for teams. Accurate time tracker for budgeting, client invoicing and painless payroll. Keep track of all your project budgets, schedule threshold alerts, use forward resource planning. Build any kind of reports and send professional-looking invoices. Create tasks, organize them in sections, add time estimates to keep everyone in the loop and on track ... read more about Everhour$8.50 Per Month14 Days50% in Time and Expense Software
elapseit resource planning, time tracking and project management, from project kickstart to invoice. elapseit integrates and connects all the tools provided, from planner to timesheets, work to invoicing, vacations and bank holidays to availability. Apart from that, elapseit delivers the full default functionalities as: granular project planning in phases and activities to time tracking per proje ... read more about elapseit$12.60 Per MonthAvailable14% in Time and Expense Software
TimeTac is web-based time tracking software accessible via PC, Mac, smartphone, and clocking in machines. Effortlessly record working hours, manage time spent on projects, track holidays, absences while staying GDPR-compliant. Choose between Employee Time Tracking, Leave Management, and Project Time Tracking software modules, or use them in combination. The cloud-based time tracking software he ... read more about TimeTacContact vendor30 Days0% in Time and Expense Software
Hyperlogs is a comprehensive online time tracking platform that comes built with expense monitoring and invoicing capabilities. This comprehensive and easy-to-use time tracking solution is a perfect tool for project managers and teams who want to graduate from dated and cumbersome spreadsheets to versatile, reliable, and accurate means to monitor and manage their time and expenses. Hyperlogs is de ... read more about Hyperlogs$9 Per MonthN/A50% in Time and Expense Software
OfficeTimer are immensely helping the companies in generating employee payroll and client billing. One of our clients goes on to say that our project wise reports have helped them increase their billing by as much as 10% and the employee wise reports have helped them in optimizing their resource utilization. They also have acknowledged that OfficeTimer is single platform for them to manage their c ... read more about OfficeTimerFree versionAvailable25% in Time and Expense Software
ClickTime provides businesses and professional individual with a robust and award-winning web-based time tracking platform that simplifies the way you manage your time, expenses, and other resources. Straightforward and easy to use, Clicktime comes with a plethora of practical features that make it a viable time tracking option for all sorts of users and can be accessed via all platforms and web b ... read more about Clicktime$9 Per Month14 Days50% in Time and Expense Software
Online time clock and timesheet software which is designed for business owners, bookkeepers, and payroll professionals.One can check employees clock in and out via phone or web and clock in and out anywhere. One can also track absences and accruals. I also helps one to calculate payroll and job costs. ... read more about ClockspotContact vendor15 Days33% in Time and Expense Software
Timewatch are specialists in professional services software, which includes resource scheduling, timesheets, timesheet valuation, project billing, and financials integration. Timewatch lets your users track time in whatever way they prefer: from a PC, Mac, phone, tablet and even from within Outlook! Timesheet entry is so intuitive and easy to learn that no training is required. With time-saving fe ... read more about TimewatchContact vendorN/A33% in Time and Expense Software
Timesheets.com can help businesses reduce payroll, manage time-off, and maximize the hours they bill. We do this by tracking and organizing accurate time worked so you can run the reports and exports you need. Timesheets.com can also track employee expenses, HR performance documents, and schedules – all under one roof. ... read more about Timesheets.comFree versionAvailable50% in Time and Expense Software
Nutcache provides teams of all sizes with a business-oriented solution for managing the entire project delivery lifecycle in a collaborative workspace; from the initial estimate to the final billing, through project budgeting, time tracking and expense management. Plan, track and organize your projects and tasks better with an all-in-one software that works for you. ... read more about Nutcache$12.49 Per Month14 Days18% in Time and Expense Software
Minute7 is designed specifically for professional services firms that want to track time and expenses against certain customers/jobs/projects and then sync that data into QuickBooks for billing, reporting, or payroll purposes. Employees can enter time & expenses from the office or on the go with our iOS & Android applications. Managers can then approve time and expense entries directly in Minute7. ... read more about Minute7$8 Per Month30 Days33% in Time and Expense Software
Zoho Invoice is a 100% free cloud-based invoicing solution designed to help small businesses with invoicing, tracking expenses, and accepting online payments. Key features include project billing, time tracking, reporting, customizable templates, and a client portaI. Teams using Zoho Invoice can track estimates, convert them to invoices, and send reminders to clients to complete their outstanding ... read more about Zoho InvoiceFree versionAvailable50% in Time and Expense Software
SpringAhead is an online time tracking, billing and expense reporting solution that is fast, easy and fully integrated with your accounting system. ... read more about SpringAheadContact vendorN/A100% in Time and Expense Software
HourGlass is the easy-to-use, web-based time clock & expense tracking and project management software that saves you time and makes you more money, while enhancing productivity, accountability, and transparency. If you need to track time, manage projects and get paid faster, HourGlass will lead to increased revenues, cost reductions, accelerated receivable collections and better profitability. ... read more about Hourglass$10 Per MonthMore than 30 days50% in Time and Expense Software
Finly is a Finance Management & Governance Suite for businesses to automate, gain visibility & control business spend. The platform comprises of a scalable & intelligent Expense Management & E-Procurement System. The powerful policy engine governs all business transactions & an integrated payment technology system allowing automated reconciliations. ... read more about FinlyContact vendorN/A20% in Time and Expense Software
TEMS is an open source software that keeps track of times and expenses by projects and accounts.
TEMS tracks every details of expenses incurred by your employees and contractors by project and account, and produces comprehensive weekly expense report. It also calculates the mileage automatically.TEMS keeps track of times by projects, accounts, activities, task types, detail descriptions, internal memos, and many more information for each employee and contractor. ... read more about TemsFree versionAvailable33% in Time and Expense Software
Frequently Asked Questions
Is Investing in the Time and Expense Management Software a Worthy Decision?
The premium time and expense tracking software has been specifically designed to cater to your business goals. The tool can effectively track the employee working hours even if they are working from remote locations. It is known for providing flexibility in work schedules and helps you to monitor and control project expenditure. Hence, investing in the time and expense software is indeed a worthwhile decision.
Who Can Use the Time and Expense Software?
The tool is handy irrespective of the business size. There are various departments of an organization that can use the time and expense tracking app to capture working hours and costs to bill the client. For instance, the HR manager can use the software to monitor the employee presence or absence in the workplace; similarly, the project managers can use it to track project time. The sales and accounting department can send the invoice to the client after tracking the expense.
What are the Typical Features of Time and Expense Software?
The various features that strengthen the time and expense tracking tool include-
- Real-time monitoring of the login and logout times of the employees.
- Tracking the idle and active hours while working on a project.
- The time and expense software calculate the productive and unproductive hours.
- The system allows managers to approve timesheets with one click.
- Sends reminders to the team regarding the project deadlines and if the timesheet isn't adequately filled.
- The financial tracking system tracks the expenses, material costs, hours worked on a project, and even the general expenditures.
- The financial tracking software also helps to estimate the project's cost and carry out improved resource planning.
- The management has better control over certain documents or specific reports as the software restricts access to a few groups of people.
- The software is seamlessly integrated with mobile devices enabling you to monitor time and expense from anywhere, anytime.
What are the Advantages of Time and Expense Software?
- Time billing software lowers various costs such as overhead expenditure, employee time tracking, creating invoices, and payroll.
- The tool allows a real-time project tracking facility along with improved reporting and operational efficiency.
- Streamlining the management process with more control over project and performance.
- The expenses tracking app helps to improve project planning based on specific requirements.
- The time and expense tracking software simplifies the organization's workflow as it does not have to rely on manual spreadsheets.
- Time and Expense software has been developed in compliance with employment laws and governing regulations with user-features and various deployment options.
What About Data Security? Can I Rely on the Time and Expense Software?
Yes, you can fully trust the tool. The best time and expense tracking software strictly comply with data security and privacy. The tool is fully encrypted and password-protected, providing a secured connection and database archiving.
What Type of Data Does Time and Expense Software Gather and Store?
The unique aspect of time and expense software is that it only tracks, collects, and stores vital data crucial for work-related purposes and relevant to the company. You can view different data such as the login and logout time, name of the devices they are working on, total hours spent on a project, idle and active time, attendance, and other information. The software even allows you to customize the reports.
How Time and Expense Software Improve Productivity?
One of the key benefits of the time and expense tool is that it improves employee productivity. The time and expense tracking system allows you to capture both productive and unproductive tasks, reducing unimportant work and time theft. Also, the time logging features makes the employees more engaged and dedicated to their task.
The project manager can even categorize the project into different tasks, set deadlines, allocate budget, and assign the work. The software enables employees to plan their work accordingly and decide how much time needs to be spent on a particular task. All hours spent working on a project goes into client billing.
The software further plays a pivotal role in improving time management and budget estimation. All these factors boost the overall productivity of employees, helping to drive more revenue.
What Factors Are Crucial Before Investing in Time and Billing Software?
While selecting the best time and expense software, you need to decide on various parameters.
- Firstly, whether the features are vital in tracking time and expenditure for your type of organization.
- Secondly, you need to consider the deployment model - cloud-hosted, on-premise, or Open API.
- Next comes the cost. You can choose the free version or opt for a free trial period to test the financial tracking service app.
- You need to check out the data security performance before making a selection. You can do so by reading genuine reviews.
- Check whether the software vendor offers additional support in case there is an issue with the tool.
What is the Cost of Time and Expense Software?
If you are looking for affordable financial tracking software, you have various choices, including WebWork Time Tracker, starting at only $3 per month, with a 7-day free trial period. The other options in this category are Hourglass, which starts at $10 and comes with a 30-day free trial, FreshBooks costing around $15, and Zoho Projects starting at $20.
The best part is that most software tools listed by GoodFirms as the top time and expense software are reasonably priced and allow users to try out the application before subscribing to it.