Time is very essential to accountants, not just because it gives them the freedom to do a task, it also allows them to manage it according to what for them is deemed important. Thus, time management is important, and what is the best tool to help you manage your time? A time tracking tool would be the perfect answer.
In this world of modern technology, where an 8-hour, office setting job is a bit boring for greater opportunity seekers, a lot of professionals have considered doing freelancing jobs, not exempted from this are the accountants who take several accounts and manage it all simultaneously.
Time management is a key, and if there is a tool that can aid them to make every second profitable, you would not think twice to get it.
When you say accountancy, you’ll immediately think of numbers, from the simplest to the most complicated ones- may it be a simple plus and minus situation to a much heavier tasks such as bookkeeping duties, balancing timesheet and worksheet.
Good thing that with the emergence of technology, life for accountants, became a bit easier. Application software, such as Microsoft Excel for Windows or Numbers for Macs, made accountant’s work a little bit less complicated.
But an integrated software, combined with these applications, is much appreciated by accountants, something that would make their job so much lighter and can increase their productivity. A time tracking tool with an integrated software that allows accountants to not only manage their time but also manage several accounts they have.
Truly, a time tracking tool has a lot under its sleeves that proves to be valuable to most accountants. So if you are an accountant planning to get a time tracking tool, these tricks might help you get along with the several accounts you manage and make your job a bit easier, with the help, of course, of these time tracking hacks.
Tip #1
Familiarize yourself with everything your time tracking software can do for you and check what it can do to make your work easier. If you are about to purchase a time tracking tool, don’t forget to list down the details you can ask the vendor and make sure to review its security details.
Tip #2
Use the timesheet in the time tracking tool, it does not only lower cost spent on papers for an overview of attendance, it can also save you time since everything is computed there, from the time that you logged in. It also gives an overview of all workers’ productivity and a real time review of everything that is going on.
There are time tracking tools that already have a built-in time sheet, it is the modern version of those old Bundy clocks and time stamps. Utilize the timesheet in your time tracker and see the transformation on the time that you will save and the rise in productivity level – not just for you but for everyone. For more information on tips on selecting a time and attendance system, check this out.
Tip #3
Associate the time sheet in your time tracking software so that it is easier to give credits to people who have been assigned a task and delivered it on time. You’ll see an overview of the attendance of your people – making it easier to give payments or make deductions for absences or unmet deadlines.
Tip #4
Register in an online banking system. Some of the time tracking software offers scheduled bills payments that you can associate to your bank. The software automatically deducts from your bank and pay your dues.
For example, you can schedule a payday every 15th and 30th of the month. Your timesheet has all the information it needs to know how much you should pay your contractor or employee based from their attendance and productivity. Payment would be auto debited from your bank every scheduled terms. Time tracking software has proved to be helpful to a successful business for allowing modernization of attendance and time sheets.
Tip #5
Associate your time tracking software to either your mobile phone or tablet, this way, you can easily access your time tracking account whenever, wherever possible. You can connect it through the cloud or through a universal sign-in method. You will still be able to monitor your accounts and the productivity of people. Or even if you are out of town, you can still pay some bills on their due dates to avoid penalties.
Time Tracker is for Everyone
Time tracking is not only made essential for accountants; it is also known to contribute a lot to other professionals who need aid in managing their time efficiently. Time tracking is found useful to freelancers too, where time is their bread and butter. Not only time management helps them earn more money, it is also known to increase productivity. If you want to know the relationship between a time tracking software, you can refer to this article, how can time tracking software increase productivity? It will give you some details on how it can help and what to consider in choosing the perfect time tracking tool for you.
A truly evolved time tracking is really a powerful tool, for time is not the only thing that measures, being able to do all your transactions online swiftly and perfectly can do a huge difference on how you manage your time. Time trackers are also useful to a company that wants to cut down on their expenses, for time trackers can see real-time inefficiencies and predicts possible problems. They can fix the problem immediately and avoid a greater loss.
3 Examples of Time Tracking Tools for Accountants with Brief Reviews
- PrimaERP is a time tracking software that accountants will find useful. It has an attendance system for working time and breaks – very much like the traditional Bundy clock. So if you want to experience a traditional twist to your modern system, you might want to give PrimaERP a try. It also has the capabilities to pay your bills or pay people with its accurate time for hourly rates.
- Journyx is another time tracking tool that will help accountants keep up with their contractors and employees. It has billing and payroll software integrated to their main time tracking system to help with billing reconciliation. It can also issue invoices that can make payments seamless and easier. It is on the topmost list of the com with 56.3 overall score and the highest review for a time tracking tool. Apart from its easy interface configuration, it has helped a lot of accounting users improve their work more efficiently.
- Zoho Invoice has a powerful invoice feature that is easy to use. It is also not difficult to use in keeping track with unpaid invoices for it has a reminder feature to keep you updated about accounts payable and accounts receivable. This is perfect for expense management and time management at the same time.
Additional Reminders:
Though very useful, you have to be aware of some ill effects of time tracking tools. Time tracking tool is still a tool that is subject for mistakes. A lot of other problems may arise if used incorrectly. It is still your obligation to check on everything to avoid possible mistakes that might incur a great loss in the future.
Time tracking tools are only there to aid us with our daily task so we can improve our productivity and make sure that everything we work for will result to something worthy. It is unadvisable to rely fully to the potentials of your time tracking software. You must still familiarize yourself with the basic and most traditional way of bookkeeping and accounting for not everything may last forever. Equip yourself with the basic knowledge of accounting so that when worse comes to worst, your work will continue even without the time tracking tool.
It is also considered a good practice to make sure that you keep a separate record of everything that you have in your time tracking software so you won’t go blind during shut downs and system failure (Yes, it can happen). And always make sure to review the security feature of your time tracking software. Some of the time tracking tools allow you to encrypt your record to a file for safe keeping and security purposes. You can also opt for a hard drive just for a precautionary back up of your file.
To know more details and reviews of the top time tracking software, you can check out CrowdReviews.com. It has the top selections for the best time tracking tools available in the market complete with reviews, and categorization method to easily compare different time tracking software. Links to the website of the software are also available.
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