There is a time tracker built directly into our project management tool to make tracking time easy for your firm. To learn more on time tracking, watch the video below:
Tracking time in Financial Cents has some major benefits:
You can identify over budget work
You can track your effective hourly rate (gain insight into where you can raise rates)
You can use the time to invoice clients (QuickBooks Online Integration)
You can use the time for payroll
You can use the time for capacity management
Since the time tracking is built directly into Financial Cents you can track time on a very granular level.
This means that you can track time to a client, project, and even a specific task. With each time entry you can take notes and details giving you detailed insights into where your firm is spending time so you can easily identify bottlenecks and improve your process.
To track time in Financial Cents you can click the "Track Time" button in the top right corner. You will have the option to track time manually or with a live timer.
Before tracking the time you can select details such as the client, project, task, billable vs non-billable, and notes.
While the timer is running you can easily see it displayed in the top right corner to keep it top of mind. This drop down menu offers many options such as viewing the project or client associated with the time entry, pausing the timer, or even the ability to quickly switch to another timer for interruptions. As seen below:
After the time has been logged you will be able to view the time entries on the project or by visiting Reports > Time Tracking.
Time Tracking Reports
In the reporting section, you can run reports for specific dates ranges.
The reports will give you insights into:
Actual vs. budgeted hours to see if you're running over budget
Billable vs. non-billable time
The total amount you are billing your clients
You can also view the reports on 3 different levels:
Client Reports - To see how much time your firm is spending on individual clients
Project Reports - To see how much time your firm is spending on certain jobs
Staff Reports - To track your staff's time and manage payroll
You also have the ability to drill down into the reports and see the individual time entries for each client, project, or team member. This means you can easily get more robust insights and identify why something may be over budget. You can also remove or edit the individual time entries from this view.
You can also easily export all your time tracking data into a CSV or excel file to analyze or import into your other systems.
QuickBooks Online Integration
All your time tracked in Financial Cents can be auto-synced with QuickBooks Online to seamlessly create invoices for your clients. We have a 2-way integration with QuickBooks Online. This means:
If you log or edit a time entry in Financial Cents, it will update in QuickBooks Online
If you log or edit a time entry in QuickBooks Online, it will update in Financial Cents
*** Also, if you use other time tracking solutions like TSheets and integrate with QuickBooks Online it will flow into Financial Cents. So you can track your effective hourly rate (profitability metric) in Financial Cents.
You can learn more about auto-syncing your time entries with QuickBooks Online in this article.
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FAQs
Can I record if time has been billed or invoiced in FC?
Since we do not invoice directly inside of FC, you cannot mark time as billed. There are no work in progress reports (WIP) in FC.