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.

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List of The Time and Expense Tracking Software

  • Empire SUITE

    One powerful suite. All your business needs.
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    Empire SUITE powers the inner workings of successful businesses, from managing employee expenses, hours, and time off to ensuring project managers have the resources they need to achieve their goals. Gain access to every key tool you need to successfully take a project from inception to completion, all on the cloud. Our goal is to make your work life easier by automating the processes that burn th ... read more about Empire SUITE

    Entry Level Price
    $9 Per Month
    Free Trial
    N/A
    Category Focus
    33% in Time and Expense Software
  • TX Chrono

    Easily capture and manage working time.
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    TX CHRONO is the first time tracking tool that is both PERFECT for managers and EASY for employees. It allows to track time on Work Items directly from TFS or VSTS fields, keep records for non-coding tasks, submit, approve and analyze timesheet submissions, create reports, and use custom notifications. ... read more about TX Chrono

    Entry Level Price
    Free version
    Free Trial
    Available
    Category Focus
    50% in Time and Expense Software
  • Workspoke

    Pay Your Freelancers Automatically.
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    Paying vendors and freelancers is a time consuming task, especially as your business grows with each new employee. Workspoke automates on-time payments for your entire team and let’s you focus on business growth. It makes life easier for you while providing your freelancers with consistency they can count on. Managing freelancers and ensuring payments are made on time has become a full time job ... read more about Workspoke

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Category Focus
    20% in Time and Expense Software
  • Office Timesheets

    Web-based employee time tracking software designed specifically for project-driven organizations
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    Office Timesheets is a web-based commercial employee time tracking and timesheet management software application designed for the specialized needs of project-driven organizations to track time and expenses for accurate cost accounting or job/project costing purposes, labor capitalization, time billing, employee utilization and real-time project time and expense reporting. Not only is Office Times ... read more about Office Timesheets

    Entry Level Price
    Contact vendor
    Free Trial
    Available
    Category Focus
    50% in Time and Expense Software
  • Selenity Expenses

    Expenses in the palm of your hand
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    Selenity Expenses Mobile is the fastest way to managing expenses, from submitting your full claim with digital receipts, to the one click approval to reimbursement. Watch to find out more about Selenity Expenses Mobile, from OCR Receipt Scan, accurate mileage validation, and managing corporate cards. Expenses management with a difference: offering dedicated mobile app, receipt scanning technology, ... read more about Selenity Expenses

    Entry Level Price
    Contact vendor
    Free Trial
    Available
    Category Focus
    50% in Time and Expense Software
  • 14Dayz

    Time tracking has never been easier.
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    14Dayz time tracking solution you’ll never have to debate on the hours displayed on invoices. What’s so nice about it, is the fact that you don’t need more than a smartphone or tablet to track your time. The time tracking application is able to register data, independent of a active internet connection. Once you’re in a WIFI zone, the application synchronizes. Wherever you are, whenever yo ... read more about 14Dayz

    Entry Level Price
    Contact vendor
    Free Trial
    14 Days
    Category Focus
    50% in Time and Expense Software
  • Alton Xpense

    MANAGE YOUR PAPERLESS EXPENSE REPORTS, JOIN THE THOUSANDS OF COMPANIES THAT USE IT EVERY DAY
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    AtlonXpense allows you to digitize your expense reports and to process them automatically online. No more encoding, time-consuming tasks and manual checks; the only thing to do: take a picture of your expense reports / tickets with your phone. AtlonXpense allowing you to digitize your expense reports and process them automatically online. No more manual encoding and control; the only thing to do: ... read more about Alton Xpense

    Entry Level Price
    $99 Per Month
    Free Trial
    30 Days
    Category Focus
    50% in Time and Expense Software
  • SolutionCorp Timesheet

    A TIME & PROJECT Tracking Tool That Is EASY To Integrate With Your ERP !
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    SolutionCorp is a premier software development company delivering full featured project time and expense tracking system. Our eTime+Projects system features an easy to use flexible cloud timesheet with detailed project estimation bundled with a rich library of project costing reports. Your directors and project manages have complete visibility to customer and project information. Project manageme ... read more about SolutionCorp Timesheet

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Category Focus
    33% in Time and Expense Software
  • PowerTime

    Comprehensive suite of online Timesheet and Attendance automation tools.
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    PowerTime Online Timesheets is an app that has been packed full of timesheet and attendance solutions. With just a web browser or our smartphone app, you can manage your timesheets, time off requests, expenses, and more. PowerTime is a web-based tool, so employees can access its features using just their preferred web browser, or with our smartphone app for Android or iOS. Your IT staff will appre ... read more about PowerTime

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Category Focus
    100% in Time and Expense Software
  • Timebeans

    Online Time and Expense Tracking Software.
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    Timebeans offers one of the best internet-based timesheet and expense management solution. The easy to use system offers flexibility, reliability and focus on what is important to you by providing a wealth of information that can help you manage your projects and teams more intelligently. We collate this raw timesheet data into a summary of where your team’s time is going. Unlike other timesheet ... read more about Timebeans

    Entry Level Price
    Free version
    Free Trial
    Available
    Category Focus
    18% in Time and Expense Software
  • TimeGuard

    Time tracking & billing, tasks, expenses & orders.
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    TimeGuard is semi-automatic and smart time tracking package used by businesses worldwide. Among the companies that purchased TimeGuard are big ones like Intel, Medtronic, Innodata Isogen, Chochlear and many small companies. TimeGuard is a practical tool that will not wait passively for your input. It will actively help your business to manage its time tracking and expense logging, taking much of t ... read more about TimeGuard

    Entry Level Price
    $49 Per Year
    Free Trial
    30 Days
    Category Focus
    50% in Time and Expense Software
  • ValueTime

    Income Under Control
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    We have seen enough talented freelancers going broke, just because their business numbers were not obvious to them. ValueTime keeps track of freelancers revenue on a daily basis. It encloses how profitable you spend your time to always know, what is going on in your freelance business. Track your freelance business with ValueTime Time & Expense Tracking Budget Tracking Invoice Creation & Tracking ... read more about ValueTime

    Entry Level Price
    $18 Per Month
    Free Trial
    7 Days
    Category Focus
    100% in Time and Expense Software
  • Xtimesheet

    Track Effective Work Hours, the easy way.
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    Xtimesheet is a cloud based time and expense management system. It allows professional delivery of services to your clients and peace of mind for you. Its advance tools help you focus more on your business and less on IT. ... read more about Xtimesheet

    Entry Level Price
    Free version
    Free Trial
    Available
    Category Focus
    33% in Time and Expense Software
  • Vite

    Vite Creating Innovative Culture With More Productive And Engaged Teams.
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    Vite Biz Inc has created a well-crafted strategy to help employers and employees. Vite Biz is an artificial intelligence-based professional development platform that will recommend learning opportunities, measure impact, and receive feedback from employees and employers on a constant basis. This approach will lead to the optimization of a company’s strategic goals, employees’ professional goal ... read more about Vite

    Entry Level Price
    Free version
    Free Trial
    Available
    Category Focus
    100% in Time and Expense Software
  • Bizinta

    Imagine time tracking, invoicing & reporting in half the time.
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    Bizinta is a leading provider of SaaS tools that can increase profits for Professional Services Companies by improving utilization rates, expediting billing, and producing real-time reports about customers, consultants, and utilization. Our integrated, modern tools streamline time-tracking, billing, project management, and reporting to give small and medium companies in finance/accounting, consult ... read more about Bizinta

    Entry Level Price
    $12 Per Month
    Free Trial
    30 Days
    Category Focus
    33% in Time and Expense Software
  • Frank

    The platform that supports you and your AEC firm with your operations and project management
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    Frank is prepared to support all your daily activities and provide a comprehensive picture of reality. Stay tuned to all your project's updates and their results, all in one integrated platform. Frank standardizes Project Management, granting consistency over time. Frank simplifies the way your team works by improving workflows, task management, communication and time & expense tracking. Also help ... read more about Frank

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Category Focus
    20% in Time and Expense Software
  • Dovico

    Manage employee timesheets and project costs from anywhere.
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    Dovico TimeSheet for Small Business is a fully scalable project time and expense tracking solution. Get a grip! With Employee Workload, understand the capacity of your employees in real-time and then balance the workload for those who may be overloaded. Need some help? Free unlimited chat, email and phone support await you as we become a helpful extension of your profit-building team. Get away fro ... read more about Dovico

    Entry Level Price
    Free version
    Free Trial
    Available
    Category Focus
    33% in Time and Expense Software
  • Timesheet Portal

    Online timesheets, expenses, time-off, pay and bill software.
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    Timesheet Portal software speeds up your pay and bill cycle and gives you the tools to track your profitability and manage projects and contracts in real time, online. Timesheet Portal is an adaptable web-based application, and will work for you whether you're project based, recruitment agency, service or manufacturer. Timesheet Portal save your company time and money by providing simple interface ... read more about Timesheet Portal

    Entry Level Price
    Contact vendor
    Free Trial
    30 Days
    Category Focus
    33% in Time and Expense Software
  • Bill4Time

    Affordable, efficient, and easy to use legal practice management.
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    Bill4Time is a cloud-based time tracking and billing software designed for lawyers, consultants, entrepreneurs, and freelancing professionals. We’re here to make sure your billable time is tracked, organized, invoiced, and accessed securely from any computer or mobile device. Time is money and it’s important to keep track of both. We are dedicated to streamlining your billing system with indus ... read more about Bill4Time

    Entry Level Price
    $27 Per Month
    Free Trial
    14 Days
    Category Focus
    33% in Time and Expense Software
  • MindSalt

    MindSalt is Time & Expense Tracking software.
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    Employees can log time from anywhere with web access on their desktop, laptop, or mobile device. Track mileage, upload digital photos of receipts, and record expenses the minute they're incurred with online expense tracking software. Easily monitor your costs, track your budgets, manage your team, and gain insight into who and what is profitable. ... read more about MindSalt

    Entry Level Price
    $6 Per Month
    Free Trial
    30 Days
    Category Focus
    25% in Time and Expense Software
  • DATABASICS

    BEST-IN-CLASS TIME AND EXPENSE MANAGEMENT SOLUTION.
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    DATABASICS is all-in-one time and expense tracking software solution gives you the features and flexibility you need so you can get down to business. Cloud-based timesheet management software for today’s mobile, global workforce. Simplify and automate online expense reporting and management without sacrificing control. ... read more about DATABASICS

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Category Focus
    33% in Time and Expense Software
  • Beyond Software

    Maximize project profitability.
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    Beyond Software enables your organization to connect your project and financial accounting to provide insight across your entire organization so projects are delivered on-time and on-budget, allowing you to maximize project profitability. ... read more about Beyond Software

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Category Focus
    100% 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?

The core advantages of time and billing software are-
  • 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?

Like any other useful tool, this software provides the option of choosing the best free and open source time and expense software such as Bitrix24, eHour, TimeCamp, and Zoho Invoice. 

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. 

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