Managing company funds have proved to be one of the most daunting tasks a company has to go through. For small-scale business and freelancers, organizing their finances and using them in an effective way seems to be impossible, while surviving in a crowd of competition.
The relationship between management and company funds has been a rough one, having its highs and lows along the journey.
Time Tracking for Accounting
Another issue which most accounting firms face in managing and tracking time. Managing the time spent on each task, by each employee is as difficult as managing the fund. The results of mismanagement of time are low productivity and a poor income, of course.
To meet the challenges, thrown at entrepreneurs by both of these scenarios, a software integration.
Gaining noticeable fame in the market these days is TimeCamp and one of the most popular accounting software, FreeAgent.
In this integration, FreeAgent helps in managing the funds and on the other hand, TimeCamp helps in keeping track of tasks and time spent on each task separately. Here is a list of benefits, which are offered by the integration of this two software.
Productivity And Communication
One of the most important advantages of the time tracking for accounting is that it helps in creating or maintaining a healthy source of communication, within the firm. With everyone on the same page, there are more opportunities to make sales and spot any problem which is rising within the hierarchy.
The productivity increases instantly.
Time tracking for accounting helps in managing the funds in a better way, which can help owners concentrate more on the performance of each employee. This is made easy as well, as the time and attendance of each employee is tracked. It increases the productivity gradually.
Accessibility and Less Paperwork
Having a 24/7 access to the files and folders of your accounting firm is very important. Nonetheless, most software does not offer centralization, which might be a problem to most accounting firms. Time tracking software for accounting helps in accessing your files and folders and keeping a track of all the tasks and time taken to each task. What is more, from every corner of the world!
Most accounting companies spend hours and hours on paperwork.
This process can be extremely time-consuming, and can make management of funds and time very difficult. With the time tracking, you have the opportunity to reduce your paperwork, and save your files and records online.
More Billable Hours
Last but not the least, the accounting time tracking software helps in increasing the number of billable hours by heaps and bounds. This is done through proper management of time and the attendance of employees. Moreover, it makes sure that each task in done on time, increasing the productivity, the billable hours and hence, the income.
Time tracking tools, like our timeCamp, are mostly equipped with features helpful for all the companies with an internal accounting. The most important are:
- billable hours.
Check also why outsourced accounting can increase employees productivity: Top 5 Commonly Outsourced Business Activities That Increase Productivity!
Time tracking for accounting is one of the most innovative step, taken to make the life of accounting firm owners easy. This user-friendly software can help in calculating funds, tracking tasks and time and the attendance of each employee. These leads to a better management of your funds and a marginable increase in the productivity.