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Best time tracking and billing software for accountants in 2025

Delivering work on time, within budget, and with complete payment are critical for accounting firm growth. These tools will help you get the job done.

Best time tracking and billing software for accountants in 2024

As an accounting professional, you’re well aware of the massive impact that well-organized time tracking and billing software can have on your workflow.

Accurately billing hours, categorizing expenses, and creating invoices is a key part of doing your job and doing it well.

And as you juggle ever-growing responsibilities—from bookkeeping and tax preparation to financial analysis and consultation—it’s become increasingly important to have time and client billing features that are integrated directly into the tools you use every day.

If your firm tracks time, then imagine being able to track time and bill without needing to export data to and from apps. Accounting practice management software can help you do just that.

The best practice management solutions can automate time tracking and billing, generate data-driven financial reports, and unite your team in day-to-day workflows and communication.

This article will explore how time tracking and billing tools can directly influence your firm's profitability and highlight the top options worth evaluating.

How time and billing software improves efficiency, accountability, and revenue

With modern time and billing software, you have real-time insights into how projects are going, client statuses and tasks, and the financial health of your firm.

Time and budget features, coupled with automation, bring several key advantages to workflow improvement:

  • Streamlined processes. Automating time tracking, budgeting, and billing tasks simplifies your workflows by reducing manual data entry and processing, allowing you to focus more on your client relationships.

  • Resource management and allocation. Time and billing software can help you effectively manage your resources, helping you gain immediate ROI.

  • Project tracking. By keeping track of time, expenses, and project milestones, time and billing software will help your project management efforts.

  • Budget oversight. Automated time and billing tools allow you to continuously monitor project budgets, billable time, billable hours, and non-billable hours, identifying when budgets are nearing their limits, preventing overspending and enabling timely adjustments.

  • Analytics. Time and budget features auto-generate detailed reports and analytics, offering a wealth of data for analysis. This data-driven approach helps with strategic decision-making, cost management, and identifying areas for improvement.

Keep in mind: not every time and billing software option on the market offers comprehensive automation.

Before you make a purchasing decision, you need to carefully assess your options and choose a time and billing software that gives you a deeper understanding of firm profitability while actively helping you become more profitable.

Here are your best options:

The 8 best time and billing software for accountants

1. Karbon

Karbon is the collaborative practice management platform for accounting, tax, bookkeeping, and CPA firms and the #1 ranked practice management platform for accountants on G2.

With Karbon, you can manage workflows, communicate with teams, and deliver client work in one streamlined practice management solution.

Which is what makes the time and billing features so powerful.

In Karbon, you can track time, estimate budgets, bill and invoice your clients, and collect payment. All in one single location.

An example of a recurring monthly engagement with fixed fee projects in Karbon
An example of a recurring monthly engagement with fixed fee projects in Karbon

Karbon’s time, billing and payments features include:

  • Time tracking: Track time with a built-in timer against a client or job

  • Budgets: Estimate time needed to allocate resources and track it against actuals

  • Invoice creation: Automate invoice creation based on the work that takes place

  • Invoice customization: Add your logo and branding, and control how data is presented to clients

  • Invoice collaboration: Discuss details with colleagues in context before approving and sending

  • Send invoices: Create, approve and send your invoice from one system

  • Write-on and write-off: Make adjustments based on time, expenses and other tracked activities

  • Aged receivables: Stay on top of all outstanding accounts across all clients and work

  • Billing reports: Comprehensive reporting on WIP, productivity, aged receivables, among other key metrics

  • Karbon payments: Manage, receive, track and automate payments within one platform

  • Payment options: Clients have the option to pay using all major credit cards

Tracking time and budgets in Karbon is a game-changer for our entire firm. The management team can easily identify areas to improve client service and resource allocation. And the service team gains efficiency and visibility into how work is tracking at any stage.

Melissa Stout, Milestone Business Solutions Inc

Other key features of Karbon:

Pros

  • Track time, budgets, and timesheets in real-time directly within your daily workflows

  • Constant innovation and frequent product releases

  • Easily customizable to align with client information and match your practice’s workflow

  • Open API so you can integrate apps, build custom solutions, and optimize workflows

  • CRM capabilities to track your firm’s relationship with every client and deliver the service you promise

  • The only accounting practice management tool where you can @mention colleagues and comment on emails, turn emails into tasks, and assign them to colleagues, clients and jobs.

  • Karbon Practice Intelligence for guiding critical firm decisions and improving efficiency

  • Software built by a team of accounting professionals and passionate industry experts

  • Offers a free trial

Cons

  • May require more time for set up and onboarding because it is a robust solution

  • Functionality is geared towards teams, so may not be suitable for teams of one or two

What kinds of firms use Karbon?

Karbon is best suited for a team of three or more staff members, or for sole practitioners who are looking to grow within a short period of time. Here are some of the thousands of accounting firms that use and find success with Karbon as their all-in-one practice management tool.

Reviews

Pricing

Karbon has three pricing plans: Team, Business, and Enterprise.

Annually:

  • Team: $59 USD/month per user

  • Business: $89 USD/month per user

  • Enterprise: Custom pricing

Monthly:

  • Team: $75 USD/month per user

  • Business: $109 USD/month per user

  • Enterprise: Custom pricing

Firms under 50 users can choose either a Team or Business plan and the total cost is simply the number of users multiplied by the subscription per month (paid monthly or annually).

Learn more about Karbon and book a demo or start a free trial.


2. HubStaff

HubStaff is a time-tracking and employee-monitoring software that gives you specific insights into your employees’ and freelancers’ workloads.

It helps accounting firms manage their teams by tracking work hours, paying team members, invoicing clients, and providing performance reports.

Timesheets in HubStaff
Timesheets in HubStaff

Key features

  • Employee hours tracker and automated timesheets

  • Overtime calculation

  • Automatic employee monitor screenshots

  • Payroll integration

  • Time clock app

  • Project cost and task management

  • Work order management

  • GPS tracking

  • Productivity reports

  • Integration with QuickBooks Online, FreshBooks, and Gusto

Pros

  • Integrated task management platform (Hubstaff Tasks) allows for agile task management that feeds appropriate tasks to a user's timers

  • Offers live trainings

  • Cloud-based

  • Easy-to-use interface

  • Offers a free trial and is free for single users

Cons

  • It’s not part of an accounting practice management platform, which means your work and time are tracked in two separate places

  • Some functions don't allow for time tracking granularity, like decimal of hours

  • Poor UI on Mac app

  • Many of their features don’t deliver real-time data

What kinds of firms use HubStaff?

HubStaff is suitable for businesses of all sizes who want to prioritize employee productivity. It’s particularly useful for organizations that have staff working on an hourly basis.

Reviews

Pricing

HubStaff’s prices range from $5-$10 USD/month, per user, with custom pricing plans available for enterprise companies.


3. Clockify

Clockify is a time tracker and timesheet software for businesses. Its claim to fame is that it’s 100% free (well, mostly—there are tiers of upgrades you can pay for).

Time tracker in Clockify
Time tracker in Clockify

Key features

  • Time tracker

  • Templated timesheets

  • Assignment scheduling

  • Reminders

  • Employee kiosks for time clocks

  • Employee calendars

  • Team dashboards

  • Performance reports

  • Capacity and planning scheduling

  • PTO and time off tracker

  • Integration with QuickBooks Online

Pros

  • Ability to add tasks and subtasks to projects for better project management

  • Offers a Chrome browser extension that helps you add a time clock to emails, documents, spreadsheets, and other tasks

  • Offers a customizable system for employees to track their time in multiple ways

  • Unlimited time tracking on free and paid plans

  • Built with a team chat feature that enables real-time messaging

  • Simple and functional to use and set up

  • 24/7 live support

  • Mobile app

Cons

  • It’s not part of an accounting practice management platform, which means your work and time are tracked in two separate places

  • Free plan lacks many features

  • Doesn’t offer shift scheduling tools

  • Lacks integrations with payroll providers

What kinds of firms use Clockify?

Clockify offers a cloud-based dashboard with team chat and in-depth employee monitoring, which can help remote accounting teams that want to track time across projects, tasks, and clients. Because of the unlimited free model, it may be useful for sole practitioners or temporary staff members who need a time-tracking tool.

Reviews

Pricing

Clockify offers five pricing plans (the below prices are based on annual billing):

  • Free: $0

  • Basic: $3.99 USD/month per user

  • Standard: $5.49 USD/month per user

  • Pro: $7.99 USD/month per user

  • Enterprise: $11.99 USD/month per user


4. Harvest

Harvest is an online time and expense tracking tool for teams and projects of all sizes. It’s a simple, easy-to-use platform that offers time tracking, reporting and analysis, and invoicing and payments.

Time tracking in Harvest
Time tracking in Harvest

Key features

  • Time tracking

  • Expense management and tracking

  • Task management

  • Resource allocation

  • Invoice management

  • Online payments

  • Project and team reporting

  • Customizable reports

Pros

  • Powerful and collaborative project management features

  • Email reminders and notifications help keep your team and projects on track

  • Offers integrations with popular apps, including QuickBooks, as well as non-accounting specific project management tools like Asana and Trello

  • Simple, intuitive, and easy to use

  • Mobile device and desktop app

  • 30-day free trial

Cons

  • It’s not  part of an accounting practice management platform, which means your work and time are tracked in two separate places

  • Harvest can be expensive for businesses with large teams that need multiple features 

  • Limited customization

  • Time clock experiences occasional technical issues

What kinds of firms use Harvest?

Because of its simple, easy-to-use interface, Harvest may be a good option for small firms and solo accountants and bookkeepers. Its project management features also make it a good choice for small firms that want to optimize their workflow. Despite these project management features, it’s important to note that Harvest is still a time and billing tool, not a comprehensive workflow tool or practice management software.

Reviews

Pricing

Harvest offers two pricing options:

  • Free: $0 USD (limited to one user and up to two projects)

  • Pro: $10.80 USD/month per user billed annually (unlimited users and projects)


5. TrackingTime

You guessed it: TrackingTime is, in fact, a time tracker. It also offers project management features and invoicing.

Dashboard view in TrackingTime
Dashboard view in TrackingTime

Key features

  • Time tracker

  • Online timesheets

  • Time cards

  • Attendance tracking

  • Project management dashboards

  • Custom time reporting

Pros

  • Custom reports for metrics like hours tracked, performance targets, and overall usage

  • Automatic time tracking reminders for when you are working but not tracking time

  • Mobile, desktop, and web app

  • Easily export reports to CSV, PDF, and Excel

  • Offers integrations with dozens of apps, including QuickBooks and Zapier

  • Offers a free plan (and 14-day trials for paid plans)

Cons

  • It’s not part of an accounting practice management platform, which means your work and time are tracked in two separate places

  • Does not auto-update tasks

  • Project management feature doesn’t allow for sub-projects, tasks, and goals

What kinds of firms use TrackingTime?

TrackingTime may be a good choice for smaller teams with less overhead, employees, clients, and stakeholders, and for firms working with freelance employees.

Reviews

Pricing

TrackingTime offers four pricing plans (prices based on annual billing):

  • Free: $0 USD (up to three users)

  • Pro: $5.75 USD/month per user

  • Freelancer: $8 USD/month per user

  • Business: $10 USD/month per user


6. My Hours

My Hours is a cloud-based time-tracking software that tracks time on projects with tasks, generates insightful reports, and sends invoices to clients.

Project dashboard in My Hours
Project dashboard in My Hours

Key features

  • Employee time and expense tracking

  • Timesheet management

  • Employee database

  • Budget estimation

  • Reports and analytics

  • Integration with QuickBooks Online

Pros

  • Automated timesheet approvals cuts down manual work, especially across recurring invoices

  • Open, documented API that allows tech-savvy users to create custom integrations

  • Easy to view and edit daily, weekly, and monthly tasks for projects

  • The free version includes unlimited clients and projects

  • Enterprise-grade security features

Cons

  • It’s not part of an accounting practice management platform, which means your work and time are tracked in two separate places

  • Very limited reporting on the free version

  • Invoicing feature has limited customization

  • Mobile app is basic and lacks important features like weekly timesheet entry and graph views

What kinds of firms use My Hours?

My Hours may be useful for small to medium-sized firms as well as solo practitioners. If your firm is just getting started with time-tracking and project management, My Hours is an option to test out your time and billing workflows.

But for firms that need a centralized platform to streamline their work, time-tracking, and billing processes, My Hours might not offer enough industry-specific features.

Reviews

Pricing

My Hours offers a free pricing plan that allows for unlimited team members and projects (with limited features, however) and a paid pricing plan starting at $8 USD/month per user.


7. Canopy

Canopy is an accounting practice management solution with time and billing features that started as a tax resolution tool. 

Canopy’s modular pricing means that accounting firms can pick and choose which features to add on. 

But keep in mind that most add-on features are core to accounting practice management. This means you’ll likely want them all (especially their time and billing module), which will end up significantly increasing how much you spend.

Invoice reminder set up in Canopy
Invoice reminder set up in Canopy

Key features

  • Invoicing and payments

  • Time tracking

  • Budget planning and tracking

  • Basic analytics

  • Integrated email inbox

  • Task and project management

  • Client tasks and auto-reminders

  • Client portal

  • CRM and client management

  • Document management

  • Integration with ChatGPT AI (for email creation)

  • Mobile app for both you and your clients

Pros

  • Recurring invoices, invoice reminders, and the ability to share invoices to the client portal

  • Payments with multiple billing rates and currencies

  • Comes with pre-built reports on firm efficiency, revenue, and billing

Cons

  • Key product features are only available at additional costs (e.g. time and billing, workflow management, and document management)

  • Complicated and expensive pricing (pay per client, per add-on module, per user)

  • Limited workflow templates

  • Despite the prebuilt reports available, customized reporting is minimal

What kinds of firms use Canopy?

Canopy is best-suited for accounting firms that value the Canopy tax resolution cases and integration with the IRS.

Reviews

Pricing

Canopy has a modular pricing model that charges by the number of features you add on.

Their Standard and Pro pricing tiers include 250 free contacts and charges extra for these add-ons:

  • Time & Billing: starting at $25 USD/month per user

  • Document Management: starting at $40 USD/month per user

  • Workflow: starting at $35 USD/month per user

  • Tax Resolution: starting at $50 USD/month per user

Canopy also offers two other tiers for firms with fewer than four staff members—these packages do not include time and billing capabilities, nor are you able to purchase the module as an add-on.

Starter:

$45 USD/month per user, plus $50 USD/month per user for their tax resolution feature.

Essentials:

$45 USD/month per user, plus $50 USD/month per user for their tax resolution feature.


8. TaxDome

TaxDome markets itself as the ‘all-in-one platform for accounting, tax, and bookkeeping firms’. It offers a breadth of basic functionality.

Time entries in TaxDome
Time entries in TaxDome

Key features

  • Invoicing and payment processing

  • Time tracking

  • Proposal creation

  • Workflow automation

  • CRM

  • Document management

  • Client portal

  • Client-facing mobile app

  • Website creation service

  • eSignature capabilities

Pros

  • Payment processing and invoicing in multiple currencies

  • Clients receive push notifications when invoices are ready to be paid via the client app

  • Integrates with QuickBooks Online

Cons

  • No budget vs. actual reporting

  • No built-in reporting and analytics or customizable business insights dashboards

  • No high-level visibility across your entire firm’s work (limited to each ‘pipeline’)

  • TaxDome has a large amount of features, which makes it difficult to do them all well—this means they generally feel underdeveloped

Reviews

Pricing

TaxDome offers one pricing tier: TaxDome Pro.

The monthly price depends on how many years you sign up for (payment is required upfront):

  • 3 years: $58 USD/month per user

  • 2 years: $63 USD/month per user

  • 1 year: $66 USD/month per user


Automate your accounting firm’s time tracking and billing

Time tracking and billing touches every aspect of your accounting firm—from project progress and employee resource allocation to payment automation, time management, and client satisfaction.

To sum it all up, it’s just far too important to neglect.

Investing in the right time tracking and billing automation software can streamline your operations, boost efficiency, enhance client relationships, and ultimately drive your accounting firm's growth and profitability.

US-based firm BNA discovered that firsthand.

Using Karbon’s time and billing features, they were able to create budgets to determine what the team is billing, what their pipeline looks like, and what they should be delivering in a given timeframe.

The result?

  • More than 2,000 tax returns are completed each year

  • 10%+ more efficiency on key processes

  • 10-13% more revenue per year over the last 3 years

  • Complete visibility and control over the firm for the first time ever

We always had an idea of what we wanted to do, but had no way of tracking it. With Karbon, we can see everything. We can share with everyone how we’re tracking, where we want to be, and what we need to do to meet those goals.

Jason Ackerman, BNA

If you’re curious about how Karbon can automate your time and billing processes within the context of your firm, book a demo or start a free trial.