Track time by client and engagement, apply the correct billing rate for every staff level, and turn approved time and expenses into accurate invoices. TimeRewards supports hourly, fixed-fee and retainer billing with approval workflows, reporting, and QuickBooks and Sage Intacct integrations.
Trusted by teams since 2004 across accounting, professional services and grant-funded organizations
Accounting firms need more than a record of hours. Time must be coded to the right client and engagement, billed at the correct rate, approved before invoicing and available for reporting and review.
Track billable and non-billable hours by client, engagement and task, with a timer, weekly timesheet or clock-in.
Five time entries totalling 6 hours 45 minutes. Without TimeRewards no entry is assigned to a client, so the billable share of the day is unknown. With TimeRewards each entry is coded to its client and the day splits into 5:45 billable and 1:00 internal.
Set bill rates once by staff level, client or engagement, and every invoice line bills at the correct rate.
A billing ratecard. Without TimeRewards three rates for two people across two clients are looked up and typed on every invoice. With TimeRewards the ratecard holds 220, 185 and 140 dollars an hour against each engagement and applies them automatically.
Batch-invoice recurring clients from approved time and expenses, and send the approved records to QuickBooks or Sage Intacct in one streamlined workflow.
A batch invoice run for March. Without TimeRewards each of twelve invoices is rebuilt by hand from a spreadsheet. With TimeRewards approved time and expenses for twelve engagements, 19,660 dollars in all, become twelve invoices in one click.
Every change and approval records who, when and why, and approved timesheets lock, ready for compliance and financial reviews.
A realization record for one engagement. Ten hours at a standard rate of 200 dollars is 2,000 dollars of standard value, billed at 1,600, an 80 percent realization. Without TimeRewards the 400 dollar reduction has no reason attached. With TimeRewards the write-down carries who made it, why, and when.
Accurate time, rates, invoices and audit-ready records in one connected workflow.
Also known as billing realization
Realization rate measures the value of billable work that is actually billed compared with its value at the firm’s standard billing rates. For example, 10 hours at a standard rate of $200 per hour represents $2,000 of standard value. If the engagement is billed at $1,600, the billing realization rate is 80%.
Utilization measures how much available time is spent on billable work. Realization measures how much of the value of that billable work is actually billed. A firm can have strong utilization while still losing value through unbilled time or billing adjustments.
Firm-wide averages can hide individual engagements with lower realization. Tracking time by client, engagement and staff level provides the underlying information needed to understand where billing value is being lost.
TimeRewards connects time, billing rates, approved hours and invoices so firms can analyze billing performance using the records behind the work.
Learn more about tracking billable hours and the difference between billable and non-billable time.
TimeRewards combines time tracking, billing rates, expenses, approvals, invoicing, budgeting and reporting in one platform.
Track time by client, engagement and task using a timer, timesheet or clock-in/out. Separate billable and non-billable work.
Included on every plan
Set rates by staff level, client and engagement. Use custom ratecards across engagements.
Professional and Enterprise
Monitor hours and costs against engagement budgets as work progresses.
Professional and Enterprise
Keep a record of who changed an entry, when it changed and why.
Included on every plan
Capture receipts and reimbursable expenses against the relevant client and engagement.
Professional and Enterprise
Route timesheets through the appropriate review process and lock approved records.
Multi-level approval from Professional
Use single-click invoicing to create invoices for recurring engagements from approved time and expenses.
Professional and Enterprise
Analyze billable and non-billable hours, employee productivity, utilization, billing and costs by client, project, person and task.
Utilization reporting from Professional
Accounting firms should evaluate time and billing software based on how well it connects time tracking, billing, approvals and financial reporting.
01Engagement Structure
Time should be coded to the work it relates to so firms can report on billable hours, utilization, budgets and billing without reconstructing the information later.
02Billing Rates
Different engagements often require different billing rates. The system should apply the correct rate automatically.
03Billing Models
Firms should be able to manage different billing models while keeping time records consistent across engagements.
04Budgets
Budget-versus-actual information should be available while an engagement is in progress, alongside billable and non-billable utilization.
05Audit Trail
Approval workflows, timesheet locking and a complete audit trail provide a clear record of who approved or changed an entry.
06Integrations
Approved time, invoices, payroll and employee information should move between TimeRewards and the systems already used by the firm.
TimeRewards connects time tracking, billing, approvals, budgeting, reporting and accounting integrations in one workflow.
TimeRewards supports hourly, fixed-fee and retainer engagements using the same approved time and expense records. Set the billing model and rates at the engagement level. Approved time and expenses can then be converted into invoices individually or in batches.
Track billable and non-billable hours across your accounting practice and monitor engagement performance as work progresses.
Use the advanced employee cost calculator and the billable hours template to understand staff cost and billable-hour performance.
TimeRewards provides approval workflows, timesheet locking and a complete audit trail to maintain a consistent record of time and billing activity. Each entry can retain its original value, approval history and subsequent changes, including the person who made the change and the reason recorded for it.
Harbor Dental’s week, coded to the engagement and task each hour belongs to.
The original value stays, with the person who changed it and the reason recorded for it.
Review routes from senior to partner, and the timesheet locks once the partner signs.
Accounting firms often support clients that need detailed timekeeping for government contracts or restricted funding. TimeRewards can track and approve labor against government contracts, grants, programs and activities while maintaining the supporting records required for reporting and review.
Every integration, with what moves and which plans include it. Payroll export and a customizable data export cover what does not go through a connector, on every plan.
Accurate time by client and engagement, basic billing rates, and a complete audit trail from day one.
$9.99per user / month* Start Free TrialRatecards, multi-level approval, expenses, batch invoicing and realization by engagement in one workflow.
$14.99per user / month* Start Free TrialCustom integrations, SAP, automation agents, and a dedicated account manager.
$24.99per user / month* Contact Sales* Minimums and conditions apply. Compare all features and plan details on the pricing page.
If your question is not here, talk to our team or book a demo.
Track hours by client and engagement, apply the correct billing rates, monitor budgets and utilization, and create invoices from approved records.
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