Intersoft ERP: Formerly known as INTERAC ERP
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What is Time and Billing Software?
Time and billing software is a tool that helps businesses track the time spent on tasks or projects and convert that time into accurate invoices. It combines time tracking, expense management, and billing in one system, making it easier to manage client work and payments. Instead of manually recording hours and creating invoices, businesses can automate the entire process,from logging work hours to generating bills. This reduces errors, saves time, and ensures that every billable hour is captured correctly.
Modern time and billing software also provides real-time insights into project costs, employee productivity, and revenue, helping businesses improve efficiency and maintain better financial control.
The Problem: Inefficiencies Without Time and Billing Software
Relying on manual systems for time tracking and billing often results in:
01
Inaccurate or incomplete time records, leading to billing errors and lost revenue.
02
Inefficient and time-consuming invoicing that wastes valuable administrative hours.
03
Difficulty managing billable hours across multiple projects, clients, or teams.
04
Poor visibility into how employee time is spent, making it harder to manage project budgets.
05
Delayed, missed, or forgotten invoices that negatively impact cash flow and affect business-to-consumer relationships.
Key Features of Time & Billing
Streamline Your Time Tracking and Billing Processes
Automatic Time Tracking
Use built-in timers or manual input to capture time spent by task, project, or client with precision and ease.
Billable Hours Tracking
Log time worked by employees or contractors and clearly mark it as billable or non-billable for accurate client invoicing.
Flexible Billing Options
Choose from hourly, flat-rate, or milestone-based billing methods with customizable rates based on client, project, or service type.
Timesheet Approvals
Manage vendor payment terms, including due dates, discounts for early payment, and payment schedules.
Invoice Creation
Schedule payments in advance and make automatic payments based on due dates, ensuring timely settlement and avoiding late fees.
Expense Tracking
Manage and track bills from multiple vendors, ensuring a unified view of what’s due, pending, or paid across your entire supply chain.
Recurring Billing
Automate invoicing for retainers or long-term projects with customizable billing intervals to ensure consistent cash flow.
Real-Time Reporting
Access up-to-date analytics on time use, project billing performance, and outstanding balances to support better decision-making.
Multi-Currency and Tax Handling
Create invoices that support multiple currencies and apply correct tax rates based on your client’s billing location.
How Time and Billing Software Works
From Time Entry to Invoice—Effortlessly
Track Time
Employees can log time using an automated timer or manual entry, associating entries with specific tasks, clients, or projects for easy organization.
Approve Timesheets
Time entries are submitted for manager or supervisor review, ensuring accuracy and adherence to company standards before billing clients.
Track Billable Hours
Distinguish between billable and non-billable hours to maintain clear visibility into which tasks and services are chargeable, ensuring that no potential revenue is missed.
Generate Invoices
Invoices are created directly from approved timesheets, automatically including billable hours, expenses, taxes, and any other relevant details.
Send to Clients
Invoices can be sent electronically via email or printed for physical delivery, with options for personalized details such as payment terms and project summaries.
Track Payments
The status of invoice payments is tracked, overdue amounts are identified, and automated reminders or follow-ups are sent to ensure timely cash flow.
Benefits of Time Tracking and Billing Software
Boost Efficiency, Improve Accuracy, and Accelerate Payments with Time Tracking and Billing Software
Accurate Time Tracking
Automatically log time worked on various tasks and projects, eliminating manual entry errors and ensuring that every billable hour is accounted for, even across multiple teams or locations.
Streamlined Billing
Easily generate professional, itemized invoices directly from time logs, project data, and expenses. This eliminates the need for manual calculations and minimizes the risk of errors.
Speed Up Payments
Send invoices quickly and efficiently, reducing the time it takes to generate, send, and collect payments. With real-time tracking of payment statuses, follow-up reminders are automated, helping with cash flow.
Detailed Reporting
Access reports that give you deep insights into billable vs. non-billable hours, project profitability, revenue, and overdue invoices to empower you to make better-informed decisions and optimize your operations.
Automated Invoicing
Set up recurring billing for long-term projects or retainer clients, allowing invoices to be generated automatically without the need for manual intervention and ensuring timely invoicing.
Module Integrations
Integrations with Time Tracking and Billing Software
Connect Time Tracking, Billing, Accounting, and Operations in One Unified System
Job Cost
Integrate time tracking with job cost modules to link employee hours directly to specific projects, ensuring accurate job cost tracking and adherence to project budgets.
Accounts Receivable
Sync invoices with your accounts receivable system to easily track payments, overdue amounts, and create follow-up reminders, maintaining consistency across financial systems.
Payroll
Integrate time tracking with payroll to ensure accurate employee compensation for hours worked, eliminating discrepancies between timesheets and paychecks, boosting employee satisfaction.
General Ledger
Automatically post invoiced hours and expenses to the general ledger, ensuring your financial records are consistently up-to-date for a real-time view of your finances.
Inventory
Track materials or supplies used during projects and automatically add them to client invoices, ensuring no costs are overlooked and billing remains comprehensive and accurate.
Time and Billing Software for Different Industries
Flexible Time and Billing Solutions for Every Industry
Retail & Franchises
Track time spent on in-store activities, sales, and franchise support, generating invoices for services, merchandising, and logistics across multiple locations to ensure accuracy.
Construction
Log billable hours for labor, track subcontractor costs, and materials used, ensuring accurate invoicing at every stage of the project.
Healthcare
Track time for consultations, treatments, and follow-up care, offering flexible billing options for services provided to both patients and insurance providers.
Public Accounting
Log billable hours to generate invoices for accounting services to ensure compliance and precise billing.
Technology
Track time spent on software development, troubleshooting, implementation, and support, with flexible billing options for accurate invoicing of every service provided.
Professional Services
Track billable hours for consultations, project work, or retainers, and generate invoices based on time worked to ensure accurate and timely billing.