Don’t worry; we’re here to simplify things for you.

What is Payroll Tax Compliance?

The more employees you have on your payroll, the larger task payroll tax compliance becomes (hence the name). Employers are responsible for withholding taxes from employees’ paychecks. This includes federal income taxes, Medicare taxes, and Social Security (in addition to Social Security and Medicare taxes on behalf of your employee).

Correctly tracking your employees’ hours and wages, along with proper categorization of your employees, is key to ensuring your business is adhering to payroll tax compliance laws during tax season. You’ll have to look at your employee’s W-2 or W-4 forms for the information you need.

Why Is Payroll Tax Compliance Important?

Imagine the gears of your business running smoothly, new profits are streaming in, and your employees are growing in their roles. The dream you had has manifested into a well-oiled machine. Then the tax audit comes with severe fines in tow.

Let’s avoid this, shall we? Here are some common issues that can bring financial burdens on your business:

Employee Misclassification

Do you have a few in-house coordinators for a team of contractors? Those contractors are going to need different forms (1099s) vs. your in-house salaried employees (W-2s). Not designating the people that work for you in the correct category can land you in violation of wage laws and I-9 tax codes. Plus, making sure everyone on your payroll is properly classified can be financially beneficial beyond just taxes.

Overdue Payments

Taxes are top of mind because it’s tax season, but depending on the type of business you run, taxes may (and probably will) need filing far more than once a year. Local and state taxes add to that complication with requirements based on where your business is located.

This means not only will you be fined for late federal payroll tax reporting, but also for not properly filing monthly and quarterly reporting based on the state of your business.

Inaccurate Bookkeeping

When you have to keep track of each individual wage, expense, invoice, and tax withholding on top of local and state regulations, mistakes become easier to make. If there aren’t proper records, your business becomes more vulnerable to possible audits.

Finding One Easy Solution 

All of this sounds like more and more spinning plates to keep balanced than you ever expected. How will you have time for other business priorities while keeping track of all the variables that go into payroll tax compliance?

Make tax season easier with one solution for everything: automation with Time Tracker.

TimeTracker by eBillity takes every one of these variables into consideration and automates them for you.

Keep employees hours and wages properly logged at all times as everyone on your payroll can clock in and out from their phones.

Worried about expenses and invoices being over-reported? Time Tracker keeps tabs on every single one of those too. Never wonder where the business’ finances are going again or if they were reported correctly.

And if you’re worried about having to get new software to make Time Tracker work for you during tax season, worry no more. The tool syncs with software that you are already using.

Like we said before – payroll tax compliance is important, and finding a solution for automating all of it is a big decision. You’re a smart business owner that wants smart solutions. Try TimeTracker for free first with a two-week free trial – no credit card required.

Read more: Tips for Pain-Free Payroll

The post Tax Season is Coming: The Importance of Payroll Tax Compliance appeared first on eBillity.

Without tax compliance knowledge, some pivotal business decisions, including the structure of a new business and its filing schedule, for example, will not be fully informed.  And tax compliance guidance is different for a small business, a sole proprietorship, a professional or other partnership, or a corporation.

At the foundation of all compliance is adequate record-keeping of information like:

• Employee or partner hours
• Expenses and their documentation
• Income sources including billing records, and tax payments
• Filing these records and payments by various categories 

A well prepared business is one that keeps compliance front of mind by utilizing applications to accurately (and regularly) record information so when tax time arrives you don’t find yourself buried in a sea of paperwork.

Some important issues for tax compliance

Let’s look at some of the aspects of tax compliance important to every business. The last tax reform enacted by Congress modified some aspects of the tax code, including compliance and, partly in response, some states changed their own tax regulations. In fact, the Tax Foundation reported that 23 states and the District of Columbia had significant tax changes that took effect July 1, 2019. The Tax Foundation provides a list of the most significant in each state. For example, Massachusetts and the District of Columbia added new payroll taxes to support family leave programs.

Compliance costs are significant—and can be reduced. For any business, the cost of complying with tax laws and regulations is going to be significant. U.S. businesses file more than 10 million tax returns each year at an estimated cost of $4.4 billion in compliance costs. We are talking about 240 million hours spent filing returns. That is separate from the payment of taxes–but costs are costs. This means the issue deserves attention not only to reduce taxes and avoid fines, but also to cut costs. 

How you start can make all the difference. The largest businesses will organize as corporations, and have to accept what is called “double taxation” on income earned by C corporations: the corporate income tax (federal and sometimes state and local) and also taxes on salaries and wages paid out of those corporate earnings. The tax treatment of “small business” traditionally has been more favorable. A sole proprietorship, partnership, or limited liability corporation pays tax only on the earnings of the owner or owners. And by the way, today what is considered a “small business” may have up to 500 employees and $7 million in revenue depending upon the industry (and many “exceptions” are even larger).

Underpaying taxes, even without intending to do so,  you can jack up compliance costs and potential fines and other penalties. Businesses that handle a lot of cash seem most at risk for underpaying income and overstating expenses. But, in fact, the issue is front and center for all businesses, including professional partnerships. The answer is tracking and record-keeping systems that provide you with ongoing summaries of all the information you need on both income and expenses.  

Partnerships have special challenges in tax filing. For  a partnership to file a federal tax return, for example, you will need your year-end profit and loss statement, plus details and totals about all sources of income and types of expenses paid by the partnership throughout the year. One of the top “triggers” for an IRS audit is the failure to track business expenses related to travel, gifts, entertainment and meals to distinguish between those that qualify as a deduction and those that do not. This is a matter of accurate tracking of expense reporting and billing. In addition to your income statement, you will need your balance sheet on property purchased and depreciation expenses. And you will have to list shares of each partner and how profits and losses are divided up by the partners. Partnerships from architectural firms to legal practices to medical practices can ensure that record-keeping by partners is current, consistent, and complete by installing a state-of-the-art time-tracking and billing system.

Be aware of changes and expirations. You should be sure that you keep up to date, with the help of your tax professionals, with changes in tax law. For example, recent federal tax reform, important to mid-sized businesses, changed “Section 179” to increase limits on write-offs on new property. As for expirations, by the end of 2019 the work opportunity credit and employer credit for paid family and medical leaves expire. Other changes affect renewable energy investment payments related to controlled foreign corporations. In fact, every year through at least 2024, there are other expiring provisions.

Your decision on cash vs. accrual. The timing of your tax obligations will be different, as a corporation, depending upon whether you elected the cash or accrual accounting method. The IRS gives corporations leeway in choosing which system to use, but once you have chosen a system you are required to stick with it. On a cash basis, you record income as you receive payment and expenses when you pay them. With accrual, you report both as they are incurred, not when actual money comes or goes. A good information tracking system can handle either approach, of course, but the timing must be understood.

Accurate and timely withholding and payment of employment taxes avoids trouble. Assuming you are a business with regular employees, employment tax requirements apply. Make sure you are withholding the right amount of taxes (e.g., federal, Social Security, Medicare) from each employee’s pay. And keep systematic track of your payments on behalf of those employees. This is treated very seriously by the IRS, so carelessness can get you audited and possibly fined or otherwise penalized.

If your business deals with hired contractors it imposes requirements on tax compliance. You don’t have to withhold, since they are not employees, but you need a system that keeps accurate, timely records of expenditures for contractors, including, of course, compensation, and then once a year fill out and send Form 1099 to the contractor and the IRS. The IRS stays alert to possible misuse of the contractor vs. employee distinction so make sure you are following the rules. 

Another benefit of effective automated records is timely filing. Being late in providing something required by the IRS is an automatic compliance problem. There must be clear lines of responsibility in your business for knowing the many tax deadlines. If you operate on a fiscal year instead of a calendar year, deadlines for the types of forms and payment will be on different dates. At a minimum for purposes of federal compliance, your relevant dates are January 31, March 15, April 17, and quarterly payments of estimated taxes usually the middle of April, June September, and January.

Save time, money and hassle with automation

Automate your time and expense tracking with Time Tracker and integrate it with your accounting software for easy tax filing. Start a 14-day trial today and start saving time and money. 

The post How Tax Compliant is Your Business When it Comes to Tax Time? appeared first on eBillity.

The key to standing out in the crowd, then, is to understand how you can best market your firm to attract new clients. No matter the size of your business, successful marketing must be present in order to maintain a solid customer base and to sustain business growth.

Brand awareness is just as important for the financial industry as it is for fashion. Potential clients are seeking a personalized experience, so make sure you are delivering this as part of your marketing plan.

Just because accounting is in high demand doesn’t mean you can let the marketing side of things slide.

Globalization helps accounting firms to be more accessible, but if you want to be visible as a potential service, you need to stand out from all of the other firms that are also easily available to prospective clients. It’s never been easier to find financial services online, so make sure that you are focusing your energy on how to personalize and market your own firm. In order to be as effective as possible, you need to understand and keep on top of the trends.

Authenticity is an important factor to consider, and marketing strategies need to include sincerity and transparency for customers who have come to expect these things from service providers. Loyalty grows from honesty, so take the reins and align your goals with your content.

If accountants and bookkeepers stay on top of the latest trends, and incorporate what they’ve learned into their own marketing, their firms will be well-positioned to take action and stand out.

Here are some 2019 marketing trends for accounting firms:

Personalization

General content is a thing of the past. Customers are looking for service providers who hear and address their needs. Don’t expect an upsurge in new business if your content is solely based on the features of your products, without taking into account how they will help consumers.

• Targeted messages that provide solutions to potential problems are a great start
• Tailor calls to action, headers, and subject lines so that they are in conversation with your readers
• Engage your audience in discussions and use the feedback to drive more personalized content
• Choose visuals that represent your unique client base
• Remember the power of social media: when used effectively to promote your brand, this tool is going to be a dominant force

Growth of Content Marketing  

Content marketing is constantly evolving, so making sure that your firm is continually sharing relevant content that is smart and well-written will keep readers coming back for more. The reason this is so important is that these returning visitors can become new leads, which can then become clients.

• Ensure content is well-sourced and on-trend
• Professional content needs to carefully observe grammar and spelling, so hire experienced writers with an eye for detail
• Research common problems your customers may experience and write solution-oriented content that addresses these concerns
• Consider hosting live events or questionnaires and surveys for better engagement with your clients
• Maximize your reach by sharing on a number of different platforms such as LinkedIn, as well as keeping a regular blog on your company website
• Marketing means exposure, so consider partnering with other services in the industry to extend your reach via shared links back to your site and vise versa
• Focus on gearing your content towards influencers who can help to promote your services

Expanding Artificial Intelligence

Much like the continued upward trend of content marketing, AI is not going anywhere.  Embrace it: targeting potential leads becomes easy, in addition to data analysis and giving your firm the time and extra money to spend elsewhere by taking over difficult tasks.

• Automating many common tasks such as invoicing, data inputting, and payment reminders means fewer errors and a higher quality of work that takes less time to complete
• AI can help you to assess your customers’ online habits to offer better services
• The automation of reports generated from your data means easily accessible information that points to potential inefficiencies early, and is a great indicator of how to build evolving business goals based on your unique information
• Give your clients more time by allowing AI to take on some of your more fussy tasks, with the knowledge that the work completed will be accurate and that you are taking that extra time to foster your existing relationships with loyal customers

Use of Chatbots

Have you been to a site recently and watched a small box emerge from the bottom of your screen with an offer of assistance? These chatbots are becoming common with accounting firm websites because they are effective and immediately offer some engagement with visitors.

• Consider a chatbot a small concierge of sorts, whose sole purpose is to communicate with users and to help them to quickly find the solutions to any questions they may have
• Text chats allow for a more personalized experience, and it is possible to incorporate some verbal conversations into the mix if desired
• Chatbots can take on many different tasks, from providing general and specific advice and information, as well as automating basic customer support functions

Refined Video Content

Just as you are careful to embed the appropriate SEO keywords into your written content, it is important to focus your video content with SEO firmly in mind.

• Improve SEO rankings with optimized video content that includes keywords in titles and descriptions
• Adapt your content to the changing algorithms of search engines
• Videos are often more engaging than lots of text on a page. You can further refine yours to not only embed SEO keywords, but also to have a bit of fun content that draws a stronger emotional response and invokes the desire in its viewers to sign up for your services
• Videos are shared a massive 1200% more often than text and links combined, so make use of this specialized content that can reach many viewers
• Titling your video with a question that is geared toward your intended viewers is a great method to get hits from prospective customers
• Stay on top of trends as you do with written content to ensure relevance and innovation

Reviews

It can be fun to give online reviews to great restaurants you’ve been to, or poorly written books you wouldn’t recommend. It can be much more nerve-wracking to see written reviews about your firm and services, but these aren’t going away any time soon. Research shows that people actually trust online reviews just as much as from their friends, so make sure that you don’t ignore giving attention to yours.

• It’s OK to ask your best customers to write a quick review of their experience with your firm
• By adding testimonials to your website, you can bolster rankings. Case studies help with this, too
• If you own your review page, you can curate the contents. That doesn’t mean erasing negative reviews, but cutting down on inappropriate comments will certainly help

Content is driven by artificial intelligence, so take these trends under careful consideration when creating your own marketing strategy. Use these tools to gain insights about your target audience and their needs so that you can anticipate these needs and better serve them. Mapping content your visitors are consuming can also be an excellent tool for better content creation on your own site.

Give yourself and your clients the gift of more attention and clear a space for recurring relationships by integrating these trends into your practice. Do the research so you can specialize and personalize, and then get to work!

Start easily automating today with a free, 14-day trial for Time Tracker. Take control of your billable hours and turn time into money. No credit card required.

The post 2019 Marketing Trends For Accounting Firms appeared first on eBillity.

The global accounting software market will be worth around $11.8 billion by 2026. Subscribers continue to climb. Xero users grew by 24% over the past 12 months, QuickBooks Online subscribers grew by 41%. In addition to these statistics, top accounting firms hit a record £15 billion in fee income in the UK last year.

Here are a few of the top 2019 accounting trends:

Automated Accounting

Investing in accounting software is a trend that is not going anywhere; digitally tracking and recording account information means better accuracy, fewer errors, and greater organization.

• Invest in an accounting software that best fits your business needs
• Easy accessibility means the input of exact data
• Elevated speed equals less cost
• Simplicity of apps revolutionizes traditional bookkeeping methods

Focus on Cash-Flow Consulting

We know that small businesses are what drive the global economy. In the United States, more than half of Americans work for or own a small business. At the start of 2018, there were 5.6 million small businesses in the UK alone, which accounted for 60% of all private sector employment. Having enough cash in the bank means maintaining an accurate cash-flow forecast at all times.

• Plan for the long-term by keeping an eye on your cash flow
• Make crucial decisions about investments
• Support the growth of your business by employing adequate staff

(Keep) Using The Cloud

Certainly the idea of using cloud-based services isn’t new; it was huge in 2018. And it’s not going anywhere. Firms around the world are continuing to use its services to move and securely store massive amounts of data.

• Improve efficiency and enhance security for your business and your clients
• Become more proactive and collaborative by switching to the cloud
• Easily and quickly create and analyze reports and data
• Access data wherever you are
• Innovation in cloud-based services means that investments are expected to spike by 50% over the next four years

Focus on People

With all of this focus on automation, how can your firm stand out from the crowd? The answer might surprise you. By using accounting technology to work better and more efficiently, you can free up time to really focus on your valued relationships.

• With the help of technology, advisors can spend more time with clients, employees, and their accounting network
• Relationship-building will help your business grow
• Build better alliances with app partners, other accounting businesses, and employees

Take some time to personalize for an extra touch, and give some thought to specialization to stay competitive. A whopping 67% of accountants are feeling that the industry is more competitive than ever before.

Ensure your invoicing is accurate by using cloud-based time tracking software. Try our 14-day free trial of Time Tracker and increase your billables by up to 20%.

The post Top 2019 Accounting Trends appeared first on eBillity.

These leaps forward save a lot of time and money. But how can you be sure you’ve chosen the correct software for your business?

Keeping an ever-watchful eye on the money going in and out of your business remains crucial to any business, and having a program that meets your specific requirements matters. Invoicing, reconciling transactions, automated data reports, and other tasks additional to the regular, daily accounting tasks is going to depend on your industry, the size of your business, and individual needs such as whether or not you’d like to track performance or set timers.

Choosing the best accounting software will therefore depend on a number of factors. This challenge can be simplified with some research into the many options offered. Take the time to gain an understanding of how your own business runs, its basic accounting needs, and then use this data as a benchmark to help you to arrive at the best decision.

Find out which accounting software is best for your business.

Sage

Are you in the specialized  industry such as manufacturing? Sage may be perfect for your business. Its features include solutions for inventory, accounting, payroll, payments, and enterprise management, making it ideal for businesses of all sizes.

• Financial management packages that are tailored to address the specific needs of different industries
• Construction, government organizations, and nonprofit businesses are included in their specialized packages
• Assets, construction, real estate, and HR are industries included in solutions
• Manufacturing, service, and distribution companies are given specialized capabilities within each service product
• Work remotely with a mobile, cloud-based platform
• Fits the needs of startups to enterprise companies

Xero

Does your business focus on retail, real estate, or IT? Xero’s features list includes solutions for bank reconciliation, inventory, bill payments, and invoicing. It is designed for small and growing businesses.

• Provides business owners with instant access and visibility of their financial position
• Bank transactions are imported and coded automatically
• Cash flows, account details, and transactions can be accessed from any device with an internet connection
• Online billing helps to keep on track of bills due and spending habits
• Mobile review and approval of each receipt
• Automatic credit card and bank account feeds
• Business and management reporting, as well as purchase orders, expense claims, and accounts receivable
• Supports multiple tax rates and currencies

QuickBooks

Are you self-employed, and wondering if there is an accounting software for you? Not to worry–there is software to address your specific needs too. QuickBooks lets you track business mileage, generate self-assessments, auto-categorize expenses, and connect your accountant.

• Offers accounting, payments, time-tracking, and payroll tools
• Versions of QuickBooks are available in many different markets, including Canadian, Australian, and British divisions, which offer different versions to support the tax needs of each
• Remote access capabilities, electronic payment options, online banking and reconciliation, and mapping features
• Manage your business cash flow and expenses easily and on-the-go
• Create accurate invoices easily
• Utilize dozens of intuitive financial reports

MYOB

For those of you looking to expand your business, MYOB (Mind Your Own Business) is an excellent solution for business owners. From startups to powerful manufacturing companies, there are solutions for every size business, and this company will grow with you.

• Multinational corporation providing accounting and tax service software
• More than 50 business management solutions
• Create budgets with information from loss and profit statements
• Apps for both Android and iOS devices for on-the-go services
• View cash flow and manage payroll remotely
• Manage bills by linking invoices and stored bills to the correct accounts
• Cloud-based storage allows for real-time updates
• Payroll management becomes simple with stored employee information
• Send payslips to staff via email
• View tax liabilities and outstanding invoices

Reckon

Perhaps you specialize in the fitness and health sector. Reckon is an accounting software to fit your needs. With cloud-based solutions, its software provides solutions for small businesses and the self-employed.

• Real-time cash flow and net position
• Online practice management software for health and fitness professionals
• Easy to use online accounting and marketing
• Schedule and manage your finances with a single platform
• Remote access from all devices with an internet connection
• Online practice management for better clinics
• Schedule appointments, manage bookings, keep track of your customer data and manage your finances all from one place
• Automatically import transactions from bank accounts
• Record time spent on tasks
• Claim employee expenses
• Automatic updates

Time Tracker

If you are an Accountant, Time Tracker is the perfect tool to add to your arsenal. Improve efficiency and increase your productivity by taking advantage of features such as time tracking from any device, cloud-based security, and invoicing.

• Automatic employee timekeeping, time entry approvals,  and time capture capabilities
• Track time with time cards, which allow employees to clock in and out with ease, track their break times, and switch between projects
• Round up or down automatically when setting time (for example, if an employee clocks in at 09:55 am the time entry can round up and be recorded as 10:00 am)
• Mobile time tracking and geolocation tracking, timesheet management, and offline tracking
• Avoid billing disputes by verifying locations and route times for employees with geolocation services
• Take photos of receipts and upload them to better track expenses and add to client invoices if needed
• Set personalized thresholds for the automatic calculation of double- and overtime, and receive notifications for these rate increases
• Branded client invoices and online payment links for ease of billing
• Billing and invoicing, multiple billing rates, and billable and non-billable hours Employee database with overtime calculation

By now you should have a much clearer idea of which accounting software is the best option for your business.

Ready to take the leap and give one a try? Time Tracker can be used from anywhere on mobile or desktop, and you can sign up now for a free, 14-day trial. No credit card required. Give yourself a chance to increase productivity and get paid faster right now.

The post Which Accounting Software Is Best For Your Business? appeared first on eBillity.

An evolving tech landscape has meant an abundance of newly automated services which have helped businesses immeasurably, across a wide range of industries. What kinds of trends are we seeing in accounting, and what are the best ways to utilize these new technological advancements?

The impact on business is undeniable.

Automating services such as payroll has meant simple shifts from pen and paper to digital spreadsheets and invoices which retain customer information, and more advanced features like analytics and reports which are generated safely, automatically, and no longer carry the risk of human error. Embedded payment links and online banking options mean easier methods for customers to settle their bills, meaning you can be paid more quickly. Cloud technologies allow for all of your sensitive data to be stored and saved securely and are easy to retrieve at a moment’s notice.

Accounting software, the cloud, and online communications are some of the technologies that are making some of the biggest differences in how an Accountant experiences their workload. And the use and range of these automated helpers is only going to increase and improve. What are some of the biggest technological advancements in accounting, and how are they changing the landscape of bookkeeping?

Information can now be shared online, so that whole teams can work together, simultaneously. Applications are able to track and assess, calculate and generate automatically, any time of day. Backups and security features allow for a constant set of safeguards to protect the data being saved. These applications can also draw conclusions based on the data inputted, and anticipated trends. Visibility and accountability are now highlighted in important ways–when your software tracks every detail, your team is more liable to stay on track and on budget. The impacts of new accounting technologies have been far-reaching. Knowing how to take what they offer and apply it to your own business is vital for keeping up in the 21st century, as well as understanding how these new technological features can complement your workflow.

Cloud-based technology has forever changed the accounting industry.

Real-time tracking, payment information, invoice reminders, and administrative access mean that remote work is not only more possible, but better tracked for efficiency and precision. Payroll and taxes can easily be managed with these applications, and financial information is automatically updated. File folders have been left in the dust with data now uploaded into always-available digital files, which are safeguarded and organized. Access to sensitive information is strictly monitored.

Data analytics–inspecting, cleansing, and analyzing data to find patterns and identify any areas for improvement for future goals–is immensely beneficial in reducing margins of error and saving time and money in project management. The replacement of manual entries with quick data input means that errors are less likely and even expense receipts can simply be scanned and uploaded for ease and immediate transfer of information. These tools and features are a real boon to your business, if utilized responsibly.

Remote access is a huge asset to the accounting industry. Updating tax information, inputting new data into your system, and running reports are tasks you can now do from anywhere. Apps allow for users to do these jobs from their desktop or mobile device, instead of needing to sit in an office to get anything done. The immediate accessibility from the cloud from your team means that everyone can be on the move, and still connected. This kind of flexibility is completely changing the industry for the better. Mobile accounting not only allows for working on-the-go, but it also includes the tremendous boon of bridging accountants and their clients.

Integrations are another real benefit to your accounting firm, in that it means freeing up more time for your team to work on other parts of your business. Simplifying your workflow is easy when complementary accounting software can work together to manage different tasks. Many apps have the ability to transfer and share your data automatically with others. One software might specialize in time-tracking, another invoicing. Perhaps you’ve added others to your digital team, so that your payroll and payment processing can also sync with the automated team, so that seamless assimilation makes a whole, unified piece. With each separate app tailor-made for its part in your accounting process, you can save endless frustration and time, and ensure accuracy and transparency in your bookkeeping. It has never been easier to use this information technology to outsource your accounting off-site, allowing your business financial goals to remain right on track.

The advent of this evolving technology is not just beneficial in terms of economically outsourcing more work, but can also be used effectively for content marketing. It’s never been easier to source and drive potential clients toward your services, and outputting across a variety of platforms. Consistent communication about your products and industry trends mean that you can keep the focus on you, and hold the interest of your customers so that they will keep your firm fresh in their mind when they need accounting service again, or want to refer their friends and family. Personalizing content based on trends, customer needs, and leads is possible with the wide range of platforms like LinkedIn or Twitter, and maintains those important customer relationships.

These rapid tech changes are allowing for a level of efficiency, accessibility, adaptability, and convenience once only imagined. Admittedly, it can be difficult to keep up with the ever-changing trends and advancements in accounting technology. But as you can see, the benefits are absolutely worth the time invested in sourcing the best new software to add to your arsenal. Today’s accounting professionals have certainly recognized the immense value of new technologies. Knowing how best to implement them means improved growth and better cash flow, fewer inaccuracies, greater capacity for accurate projections, and a more stable financial position overall.

Embracing these changes will revolutionize your own firm, and keep it relevant in today’s competitive market. Staying up-to-date with trends and ensuring that your software is also current and optimized will keep your firm well-placed to receive more clients and better (and safer) data options. It doesn’t stop there, either. Continuing to adapt, optimize, and improve your software, as well as a consistent commitment to learning technologies as they advance will put you at the forefront of the industry. Embrace the changes!

The post Embracing Change: Technological Advancements in Accounting appeared first on eBillity.

Using Time Tracker and Invoice Tracker saves time for both the accountant and the bookkeeper, as well as their clients by automating processes that are time consuming to complete. Imagine how much time you will save on your own payroll, and how many more clients you can take on with your extra hours! By entering time and expenses into timekeeping apps which sync with payroll and accounting software, clerical errors and inaccuracies are significantly reduced. Data entry becomes as easy as the click of a few buttons, and can be inputted from anywhere and from different devices. Fewer discrepancies in pay checks and invoice disputes? Yes, please!

“The ebillity team has a done a great job with this app. I particularly like the ease of use, and the level of detail that you can apply to track time and expenses. Options to use classes and the approval process make entering time for payroll and billable expenses easy, and the mobile option is my favorite!” – Stacy, QuickBooks ProAdvisor

Make every second count. Increase your billable hours by 20% with automated time tracking.

By using Time and Invoice Tracker software, the accountant and bookkeeper have the ability to show an employee exactly what has been submitted, as well as display for their clients proof of time entry with reports for tasks performed, date, time and location with GPS tracking, and a feature to add expense reports to invoices.

Invoice Tracker automates invoice collection to improve cash flow. An integration with Stripe means that payments can be made instantly and payments can be reconciled within your accounting software. Automate your entire process and remove the headcount of an AR clerk, which will save you time and money. It couldn’t be easier: generate your invoice and send to your Invoice Tracker account, start your collection, have your client pay with Stripe, and watch as Invoice Tracker reconciles with your accounting software, making the collection complete!

Apply today to become an eBillity Advisor, and start helping your clients reduce administration time, get paid faster and improve their cash flow!

The post Here’s Why You May Want to Become an eBillity Advisor appeared first on eBillity.

Some of the keynote speakers include Steve Vamos, Chief Executive Officer at Xero; Lucy Adams, CEO, Disruptive HR; Gerd Leonhard, CEO The Future Agency, Gary Turner, Managing Director, Xero UK and EMEA; and many other inspirational speakers and forerunners whose talks you don’t want to miss!

The accounting event of the year includes three days with the best in the business. ExCel London takes place 14-15 November, and includes a massive array of industry leaders and exhibitors. Exhibitors for XeroCon 2018 can be found here. There is also a Xero Uni Day on 13 November, where you can bring your whole team for a full-day workshop as well as lunch, networking, and swag. Let’s break it down so that you know what to expect.

On 13 November at CentrEd, ExCel London, you can bring along your whole team to gain new skills in workshops, get to know Xero products better and their integration partners’ products, and understand how to make tax digital. Courses include: Product Deep Dive, Making Tax Digital, and Payroll Certification. Get to know your industry peers and network over lunch and take home some Xero swag at the end of the day! For just £30 (excl. VAT), you can take advantage of these fantastic sessions from 9:30-5:00 PM. Register here.

That same evening, come along for early registration to XeroCon and welcome drinks from 6-8 PM. Enjoy an array of canapés and drinks as you mingle with attendees, exhibitors and speakers at ExCel London.

On Wednesday the 14 November, XeroCon Day 1 and the Party commence! At 8:00 AM the exhibition hall opens, come early for some light refreshments and to chat with your Associates , and get ready for a day packed with talks from industry leaders, where you’ll hear inspiring stories of triumph and learn about the challenges of a connected world, new ways of leading in a digital world, and what’s new for Xero. Explore the exhibits from categories such as billing and finance, marketing, payments, invoicing and jobs, time tracking, and many others to keep you up-to-date with what is innovative and fresh in today’s accounting industry. From 4:50-5:20pm the Xero awards take place, and winners will be announced on the main stage. At 7:00pm, it’s time to party! Bring your dancing shoes and let loose. Food and drinks will be served.

XeroCon Day 2 is another day chock-full of excitement. Hear more captivating stories and more tools and training to fuel your business growth by directors and managers from Xero, as well as an Olympic champion  Sir Chris Hoy, MBE, whose own story will inspire you to chase your dreams!

Don’t miss out on the 2018 XeroCon. Here’s a great video of last year’s event, and here is a photo gallery. Get your tickets today for £350 (excl. VAT), which include networking drinks on the 13th November, the full two days of XeroCon on the 14-15th of November, and the party! Reserve now.

Come by our booth to learn how eBillity’s Time Tracker easily integrates with Xero and will save you time and money. See you in London!

The post XeroCon: What You Need to Know Before You Go appeared first on eBillity.

When you integrate Gusto with Time Tracker, your data will be shared between the two with a one click sync. Track the time of everyone working for you as they upload their timesheet information from their device, have the admin review this data, check for inaccuracies in real time, and have a constant overview of the reports generated for analysis. The moment you connect, the employee data saved in your Gusto account will be distributed to Time Tracker, so the two applications can share and track your data together. Automated employee invites and onboarding emails make for even easier contributions.

You can also easily and quickly create contractor and employee rates in either of the two applications, then run your data sync and watch the two-way integration allow these apps to work seamlessly as one. Sync your compensation and pay rates–including paid time off and over time–to ensure the time tracked is appropriate to what is actually being worked and remunerated.

As for your employees, they don’t need any special technological expertise when they can access single-entry and multi-timers, as well as their weekly timesheet to track their own time. The flexibility of adding their data from their personal device or desktop computer from any place or time makes tracking a breeze. When they’ve added their time to Time Tracker, all entries can then be monitored by the admin, who can review, adjust, or approve the entries before synching the confirmed data over to Gusto. And not only can employee time be tracked more accurately this way, but additional features such as GPS tracking allow you to easily verify locations of entries, as well as route tracking and travel times, so you can feel secure that you are not losing any profit due to time theft.

Conveniently manage your team by using time entry reminders for your staff and set roles and permissions with a few simple clicks. Take advantage of the multilingual workforce secure backups, and watch productivity soar with detailed insights which are generated automatically.

Integration for your Gusto and Time tracker accounts is free, and we will help you with every step. Start your free, 14-day trial. No credit card required. Less than five minutes to set up.

Luckily, adding your Xero data to your Time Tracker is just as painless as with Gusto. With Time Tracker for Xero Payroll and Accounting, you can pay your employees and invoice your clients for actual time worked. Detailed and precise time tracking, timesheet approvals, expense tracking, Xero payroll, and Xero accounting all come together with a one-click sync between these applications, saving you hours in administration every month.

The two-way integration takes less than five minutes. Just select the data you’d like to transfer and share, and click ‘sync’. It couldn’t be easier to get started on this consolidation and transform your business. And you can bill from anywhere from your PC, Mac, or mobile, any time that is convenient to you.

Watch as your company’s bank statements are automatically imported and then categorized, allowing you to see your cash flow in real time and make any adjustments before they become an issue. Invite your team members to collaborate on financials within the online platform. Xero’s features also include invoicing, bill-paying, sales tax returns, and reporting. Try Xero Accounting free.

With Time Tracker and Xero, sync your employees and payroll in just one click. The combination of these applications means you get to access single- and multi-timers for tracking, as well as weekly timesheets. Work closer than ever with your team when you integrate Time Tracker + Zero Payroll. One click is all it takes for your automated time entry reminders to take effect, as well as an alert for each timesheet submitted, the creation of roles and permissions as dictated by you, assignation of tasks, team and individual messaging, and more.

Time Tracker + Xero Payroll is now available in the United Kingdom, Australia, New Zealand, and most states in the US. Time Tracker + Xero Accounting means just four clicks for beautifully branded invoices, easily accessible expense and billing activities, and the ability to sync your client data. Click the links for your free trial today.

The post Triple Threat: Xero, Gusto, and Time Tracker appeared first on eBillity.

Over the years we have heard many of our customers talk about the challenges they face trying to get paid quickly, so we decided to develop an add-on to Time Tracker to enable invoice tracking that allows you to automate the invoice reminder process. Don’t worry if you are not using Time Tracker it is also compatible with QuickBooks Online and Xero.

Adding on Invoice Tracker is like adding on an accounts receivable person to help you track down unpaid invoices, without the additional employee cost or hassle. Outsourcing your accounts receivable has never been easier, and with Invoice Tracker for Time Tracker you’ll be able to:

Automate the Collection Process and Save Time

Setup automated email reminders and save time not having to manually follow-up with unpaid invoices. Once an invoice has been paid emails will stop automatically as they are synced to your accounting software.

Create Personalized Email Reminders

Customize your emails to engage your clients in a way that’s familiar. Choose an editable email template or customize your own and add your logo and signature. Then add in variables such as the customer name, invoice number, due date and amount due.

Accept Online Credit Card Payments

By offering clients an online credit payment option you can expect to get paid twice as fast. Stripe ecommerce platform integrates with Time Tracker and Invoice Tracker adding an online payment link right into your invoice.

Ensure Data Privacy

As Invoice Tracker is an add-on to Time Tracker you have the same data security and protection. In Time Tracker you can set your own privacy permissions, protecting valuable and confidential company data, because it allows you to decide for yourself what kind of information is accessible to your employees with visibility settings. It also allows for Cloud access with secure back-ups; a standard feature within Time Tracker. It is EU-US Privacy Compliant, so you will have the peace of mind that any commercial data shared will be safe and protected. Secure 256-bit encryption for your data in transit reinforces the other security features, ensuring your confidential files and information are defended and safe.

Add-on Invoice Tracker with these easy steps:

1. Sign up for your 14-day Invoice Tracker free trial
2. Select an invoice or batch of invoices that need follow-up.
3. Create an email reminder set. Reminder sets are a series of emails sent during the collection process. Choose from the editable pre-written emails or create your own.
4. Activate email reminders. Once you’ve created your reminder set turn them to active and start your collection. Your data automatically syncs from your accounting software every few minutes so once you receive a payment Invoice Tracker will know to stop sending emails – no matter where they are in the sequence.

Forever Free Support

Not only is signing up with Invoice Tracker easy and affordable, it comes with unlimited free support. If you are struggling with set-up or any of our features, contact us and we will happy to assist you, free of charge and on a permanent basis. We offer email, live chat, and phone service for your convenience.

Invest in Invoice Tracker for Time Tracker

Don’t be one of those businesses who are not successful because they continued to have cash flow issues. Add Invoice Tracker to your Time Tracker today and get paid faster. Free 14-day trial no credit card required.

The post Get Paid Faster Add-on Invoice Tracker to Your Time Tracker appeared first on eBillity.