Harvest
Time Tracking
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Time and Billing Software

Harvest offers specialized time and billing software that enhances billing accuracy and compliance for legal and accounting firms, helping prevent revenue loss from delayed time entries.

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How much revenue is your team leaving on the table?

Most agencies run at 55-60% utilization. Even a small improvement means significant revenue. See what closing the gap looks like for your team.

Number of people who track billable time
$
Blended rate across roles (junior, senior, lead)
55%
Percentage of total hours that are billable. Industry average is 55-60%.
75%
A realistic target for service businesses is 70-80%.
Monthly revenue gap $0
Revenue at current utilization $0/mo
Revenue at target utilization $0/mo
Extra billable hours needed per person/day 0h
Annual revenue opportunity $0

Start tracking team utilization

Walk through the entire flow below. Start a timer, check your reports, and create a real invoice — all in three clicks.

Go ahead — start tracking!

One click and you're timing. Try it right here: start a timer, add an entry, edit the details. This is exactly how it feels in Harvest.

  • One-click timer from browser, desktop & mobile
  • Works inside Jira, Asana, Trello, GitHub & 50+ tools
  • Duration or start/end — your call
  • Day, week & calendar views to stay on top of it all
  • Friendly reminders so no hour gets left behind
Acme Corp
Website Redesign
Homepage layout revisions
1:24:09
Content Strategy
Blog calendar planning
1:30:00
SEO Audit
Technical audit report
0:45:00
Brand Guidelines
Color system documentation
2:15:00
Logo Concepts
Initial sketches round 1
1:00:00
Today's total 6:54:09

The Strategic Advantage: Why Specialized Time and Billing Software is Essential

Time and billing software is crucial for legal and accounting firms striving to enhance their operational efficiency and billing accuracy. For firms with revenues of $10 million, preventable billing errors can lead to a loss of $300,000-$500,000 annually, highlighting the importance of precision in billing processes. Automated systems can improve billing accuracy rates to 99%, significantly reducing revenue leakage. Moreover, capturing every billable hour is essential as delayed time entries can result in a 10-50% loss of billable hours, affecting the firm's bottom line.

By transitioning from manual to automated processes, firms can not only prevent revenue loss but also enhance cash flow through more accurate and faster invoicing. With Harvest, legal and accounting firms can ensure compliance with industry standards and regulations, thanks to features like real-time tracking, customized invoices, and detailed reporting that provide real-time insights into performance and profitability.

Core Functionalities: Features Driving Efficiency and Transparency

For legal and accounting firms, specialized time and billing software must include robust features that enhance both efficiency and transparency in operations. One critical feature is real-time time tracking, which prevents the significant loss of billable hours due to delayed entries—up to 50% when time is logged weekly. Harvest provides one-click timers and custom time categories, ensuring accurate and immediate time logging.

Comprehensive expense management is another essential feature. By easily logging and categorizing reimbursable expenses, firms can improve billing accuracy and client satisfaction. Harvest's expense tracking with receipt capture streamlines this process, ensuring all expenses are accounted for. Additionally, customizable invoice formats allow firms to comply with industry-specific billing standards, such as LEDES formats in legal billing.

Ensuring Compliance: Industry-Specific Needs and Solutions

Compliance with industry-specific regulations is non-negotiable for legal and accounting firms. Legal professionals must adhere to trust accounting regulations, such as maintaining separate trust accounts and conducting three-way reconciliations. Harvest supports these needs with detailed reporting capabilities that ensure compliance with ethical billing guidelines and trust accounting requirements.

Accounting firms benefit from software that integrates with existing systems to ensure Wage and Hour compliance and reduce the risk of costly settlements, which average $8.2 million. Harvest’s integrations with platforms like QuickBooks and Xero facilitate seamless data transfers, minimizing errors and ensuring compliance with financial regulations. By offering features like tracking of unbilled time, Harvest helps firms prevent revenue loss, a critical concern in both the legal and accounting sectors.

Optimizing Firm Performance: Real-Time Insights and Analytics

To optimize performance, firms need real-time insights into their operations. Harvest provides detailed reports on time, expenses, budgets, and team utilization, allowing firms to track key performance indicators (KPIs) such as utilization and realization rates. Optimal utilization rates for professional services firms range from 70-75%, and these insights help firms maintain or improve these benchmarks.

Real-time analytics also aid in resource allocation and identifying areas for improvement. By monitoring utilization and realization rates, firms can adjust workloads and pricing strategies to enhance profitability. Harvest's reporting tools empower firms to make data-driven decisions, ensuring they remain competitive and efficient in their billing processes.

Time and Billing Software with Harvest

Discover how Harvest's time and billing software enhances billing accuracy and compliance, tailored for legal and accounting firms.

Harvest time and billing software screenshot showing invoice tracking and compliance features.

Time and Billing Software FAQs

  • Time and billing software improves billing accuracy by automating invoicing and time tracking, reducing preventable errors that can account for 3-5% of revenue loss. Harvest's one-click timers and detailed reports ensure accurate billing and compliance.

  • Essential features for legal firms include trust accounting, matter-based billing, and compliance with billing standards like LEDES. Harvest offers customizable invoices and detailed reporting to meet these needs effectively.

  • Harvest's integration with platforms like QuickBooks and Xero ensures seamless data transfer, minimizing errors and supporting compliance with financial regulations. This integration helps maintain accurate financial records and reduces the risk of costly compliance issues.

  • Yes, by capturing all billable hours and automating invoicing, time and billing software can prevent significant revenue loss. Harvest, for instance, tracks unbilled time through detailed reports, ensuring legal practices maximize their revenue potential.

  • Harvest provides detailed reporting and customizable invoices to meet industry compliance requirements. These features help legal firms with trust accounting and accounting firms with financial regulation adherence.

  • Utilization rates indicate how effectively a firm is using its billable hours. Optimal rates for professional services firms range from 70-75%. Harvest's analytics help track these rates, enabling firms to adjust workloads and improve profitability.

  • Harvest is suitable for the legal industry due to its customizable invoice formats, real-time tracking, and compliance-focused reporting features. It supports industry standards like LEDES and trust accounting, ensuring legal practices meet their billing and ethical obligations.