Harvest
Time Tracking
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Time Tracking for Accounting Firms

Harvest offers accounting firms seamless time tracking and invoicing, cutting billing cycle times by over 50% and reducing billable hour losses up to 50%.

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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 Imperative: Why Time Tracking is Essential for Accounting Firms

Time tracking is crucial for accounting firms as it directly impacts revenue and profitability. Delayed time entry can lead to significant revenue loss, with potential loss ranging from 10% to 50% of billable hours, depending on the delay. For instance, recording time at the end of the day can result in a 10% loss, while waiting until the next day can lose 25%, and by the week's end, up to 50% of potential revenue may be lost. Accurate time capture is foundational for precise client billing, ensuring transparency and compliance with regulatory standards such as GAAP and IFRS.

Implementing a robust time tracking system enhances productivity by revealing inefficiencies and optimizing workflows. It provides accounting firms with the insights needed to improve realization rates, often aiming for 85-90% utilization. This kind of precise time documentation is not only vital for billing but also for meeting audit and SEC compliance requirements. Harvest offers a comprehensive solution, allowing accounting firms to streamline their billing processes and enhance financial management.

Core Features and Seamless Integration for Modern Accounting

For accounting firms, selecting a time tracking solution with the right features is paramount. Key functionalities include automated time capture, real-time tracking, and customizable billing rates. Harvest excels here with its ability to track billable hours by client and project, ensuring accurate invoicing and seamless integration with popular accounting software like QuickBooks. This integration is crucial for automatic invoice generation and payroll processing, cutting down on administrative overhead.

Additionally, robust reporting tools in Harvest provide insights into productivity, profitability, and resource utilization. With mobile access and cloud capabilities, Harvest supports flexible work environments, allowing accountants to track time and manage tasks on the go. Prioritizing security and compliance, Harvest ensures that sensitive financial data is protected, meeting regulatory requirements such as GDPR and CCPA, which is essential for firms with international or Californian clients.

Optimizing Billing and Maximizing Profitability with Time Tracking

Time tracking is a strategic tool for optimizing billing and maximizing profitability in accounting firms. Automated time tracking with Harvest ensures that every billable minute is captured, preventing underbilling and improving realization rates, which are typically targeted at 85% or higher. By accelerating billing cycles through automated invoice generation, firms can reduce their time-to-bill by over 50%, enhancing cash flow and efficiency.

Harvest provides detailed, transparent billing information, fostering trust with clients and reducing disputes. Its customizable billing rates for different clients or projects offer enhanced billing flexibility, crucial for dynamic service offerings. Furthermore, by comparing billable hours to project costs, Harvest enables firms to analyze true project profitability, empowering better financial decisions and pricing strategies. With Harvest, accounting firms can ensure every minute is accounted for, improving both client satisfaction and firm profitability.

Time Tracking for Accounting Firms with Harvest

Explore Harvest's time tracking for accounting firms. Features include seamless integration with QuickBooks and automated invoicing.

Harvest time tracking interface tailored for accounting firms.

Time Tracking for Accounting Firms FAQs

  • Time tracking helps accounting firms increase profitability by ensuring accurate billing and reducing underbilling, which can account for up to 50% of potential revenue loss. It also enhances workflow efficiency and compliance with financial regulations.

  • Accounting firms should look for features like automated time capture, integration with accounting software, customizable billing rates, and compliance with data protection regulations. Harvest offers these features and more, making it an ideal choice.

  • Time tracking ensures every billable hour is accurately recorded, preventing revenue loss. With Harvest, firms can automate invoice generation and integrate with accounting software, reducing errors and speeding up billing cycles by over 50%.

  • Yes, Harvest seamlessly integrates with popular accounting software like QuickBooks, making it easy to streamline time tracking and financial management processes in accounting firms.

  • Delayed time entry can lead to significant revenue loss for accounting firms, ranging from 10% to 50% of billable hours. Prompt and accurate time tracking with Harvest helps mitigate this risk and ensures optimal realization rates.

  • Yes, Harvest offers mobile access, allowing accounting professionals to manage time tracking and invoicing on-the-go. This feature supports flexible work arrangements and ensures accurate time capture wherever work is done.

  • Harvest adheres to data protection regulations like GDPR and CCPA, ensuring that sensitive financial data is secure and compliant, making it a reliable choice for accounting firms with diverse client bases.