Time Management Tools to Improve Efficiency

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With stricter regulations and rising client demands, 2025 is proving to be a chal­lenging year for accountants — especially CPAs juggling compliance and complex workloads. Time-tracking software is now essential for staying competitive and improving efficiency.

Recording Time

Time-tracking software for accountants includes specialized tools and features that help record billable hours, manage projects and streamline invoicing.

When it comes to managing client work, meeting deadlines and adhering to strict compliance standards, accountants and CPAs have unique needs. This software is built specifically for accounting professionals, helping address challenges by centralizing timesheets, flagging inefficiencies and improving resource transparency.

Managing Hours and Workflow

CPA and non-CPA accountants fall into different categories when it comes to managing their billable hours, compliance obligations and client engagements.

• For CPAs: Time-tracking software is beneficial for managing billable hours across audit, tax and advisory services — where precision and compliance with regulatory standards like GAAP and IFRS are critical. Automated time-tracking also ensures accurate documentation for audits and SEC compliance.

   

• For accountants: Those handling bookkeeping, payroll and financial reporting use time-tracking software to ensure efficiency, optimize workflow and provide clients with transparent billing. Features like automatic time capture and invoicing integration help manage workloads more effectively.

 Key Benefits

 Time-tracking software provides accounting professionals with key advantages, including:

• Accurate billing: Automating time logs minimizes human error, helping to ensure every minute is accounted for.

   

• Enhanced productivity: Tracking how staff spend their time reveals inefficiencies, helping the firm address bottlenecks and improve productivity.

   

• Streamlined invoicing: Many solutions integrate with billing systems to auto-generate invoices from logged hours, reducing admin work and speeding up payments.

   

• Improved resource management: Visibility into workloads helps prevent burnout and improves task distribution.

   

• Regulatory compliance: Detailed logs support audit readiness and protect both firms and clients.

Popular Time-Tracking Software

Here are some of the more common time-tracking tools for accountants — each with unique features to fit different firm needs:

• TaxDome (taxdome.com) is known for its all-in-one functionality, com­bining CRM (customer relationship management), document management and time tracking in a single platform. It includes a robust client portal, auto-mated workflows and CRM features that stream-line both time-tracking and billing processes. However, new users may find that it comes with a learning curve, and its integration options are more limited when compared to established competitors.
• Bill4Time (bill4time.com) focuses on professional services billing and offers a suite of features geared toward CPAs. Its invoicing module simplifies billing cycles, and its reporting tools provide in-depth insights into firm performance. The mobile app also lets users track time wherever they are, ensuring every billable minute is recorded. On the downside, the user interface can feel a bit dated, and configuring the software to fit the firm’s specific needs can take some time.
• QuickBooks Time (quickbooks.intuit.com/time-tracking/) integrates directly with the QuickBooks accounting suite, creating a streamlined invoicing work-flow for firms already using QuickBooks. It features a user-friendly mobile app, making it easy to log hours from anywhere. The GPS tracking function is also particularly useful for remote or offsite teams. Yet, its best benefits come from full QuickBooks integration, so firms not using QuickBooks may see limited value.
• BQE Core (bqe.com) merges accounting, project management and time tracking into one cohesive system. It provides detailed insights into finances by incorporating expense tracking, budgeting and AI-driven analytics that identify inefficiencies. The platform’s extensive customization can also help larger firms tailor reports to their specific needs. However, smaller practices that only require basic time tracking may find it overly complex.
• TPS Software (tpssoftware.com) delivers straightforward time-tracking and billing features designed with accountants in mind. Its easy-to-use interface makes it a budget-friendly option for smaller practices or those looking to prioritize simplicity. On the other hand, customization options are limited.

While choosing the right time-tracking software for accounting firms is an important first step, pairing it with an industry-leading payment solution can significantly enhance workflow.

CPACharge, an NJCPA member benefit provider, offers online payment solutions for CPA firms to enable them to streamline their billing processes and increase cash flow, safely and securely. Learn more at cpacharge.com/njcpa.