Professional services – eBillity https://ebillity.com Time Tracking for Payroll and Time & Expenses for Invoicing Tue, 30 Jul 2024 20:31:27 +0000 en-CA hourly 1 https://wordpress.org/?v=6.6.2 /wp-content/uploads/2023/10/cropped-ebillity-favicon-32x32.png Professional services – eBillity https://ebillity.com 32 32 Tracking Billable Hours: How to Increase Profitability for Professional Services https://ebillity.com/post/tracking-billable-hours-how-to-increase-profitability-for-professional-services/ Tue, 19 May 2020 22:14:54 +0000 https://www.staging6.ebillity.com/?p=9826 Professional services teams have a lot to balance in order for their companies to achieve success and retain clients. Teams need to deliver projects on time and on budget, while also creating profits for their employer. If a company doesn’t have an effective tracking system in place to keep tabs on time, projects and billable hours, profitability decreases. We’ll look ... Read more "Tracking Billable Hours: How to Increase Profitability for Professional Services"

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Professional services teams have a lot to balance in order for their companies to achieve success and retain clients. Teams need to deliver projects on time and on budget, while also creating profits for their employer. If a company doesn’t have an effective tracking system in place to keep tabs on time, projects and billable hours, profitability decreases.

We’ll look at how to increase profitability and success through time and expense tracking systems.

Obstacles Professional Services Teams Face

Professional services managers are responsible for managing internal teams, external relationships, customer engagement and re-engagement in order to develop loyalty and profits. In order to develop these effectively, a system needs to be in place that can track every objective and output that every team member is responsible for.

If not, the following problems can occur:

  • Services won’t be delivered on time
  • Budgets won’t be met
  • Billable hours will be inaccurate
  • Invoices will be delayed

All of these problems can result in a decrease in customers and, ultimately, profits. If you don’t have the right tracking tools in place for your team, it is nearly impossible to be organized and efficient, which is key to customer satisfaction and your profitability. Implementing time and expense tracking software for your company will help you overcome these obstacles and optimize success. Here are 4 benefits that tracking systems can offer your company.

1. A Centralized Database

You can’t keep accurate track of your team, projects and expenses without a centralized database that is accessible to and used by everyone on your team. Time tracking software allows you to easily create this hub where you can monitor every aspect of your business.

It’s important to make sure to choose a system that is user-friendly so you’re able to check the status of a project, approve employees’ hours, create schedules and assess timelines in minutes.

2. Maximized Employee Productivity

Tracking time ensures everyone is on task. Some software provides a real-time look into your resources as well as your team’s workload so you can have an accurate grasp on project timeframes so you can hold your employees accountable. For example, Time Tracker by eBillity has a timer feature for employees. The timer records their work in real-time, so it’s accurate — right down to the second. The result? Managers can accurately assess productivity so scheduling can be more efficient. Being able to monitor productivity in real-time allows employers to maximize productivity which directly impacts client outcomes and profitability.

3. Open, Streamlined Communication

Creating a centralized tracking system where projects, hours and billings are easily accessible and streamlined can improve open communication within a business and its clients. Time tracking tools can help you achieve streamlined communications through open and accurate  data and reports.

4. Increased Accuracy and Speed

Accuracy and speed can make or break companies. Every second spent on something outside of the scope of work costs you money.

Time Tracker by eBillity offers time tracking, reporting, project tracking, GPS tracking and online scheduling so you can accomplish all of your goals in a matter of minutes.

It’s Time to Get Tracking

It’s time to stop wasting billable hours. The time you can save overall on projects, hours, and tedious administrative duties can help you manage your company’s internal and external relationships so you can improve profitability. And that’s the bottom line.

To learn more about how Time Tracker by eBillity can help keep your business on track, sign up for a free trial today.

Read more: Time tracking is essential to profitability here’s how

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How Tax Compliant is Your Business When it Comes to Tax Time? https://ebillity.com/post/how-tax-compliant-is-your-business-when-it-comes-to-tax-time/ Fri, 29 Nov 2019 16:33:15 +0000 https://www.staging6.ebillity.com/?p=8256 Not every business owner can be a tax accountant, of course—and should not try to be. But without awareness and attention to what tax compliance requires, your business can’t even provide the information and documentation that your tax professionals need to do their job. Without tax compliance knowledge, some pivotal business decisions, including the structure of a new business and ... Read more "How Tax Compliant is Your Business When it Comes to Tax Time?"

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Not every business owner can be a tax accountant, of course—and should not try to be. But without awareness and attention to what tax compliance requires, your business can’t even provide the information and documentation that your tax professionals need to do their job.

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. 

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Top Tips to Increase Customer Conversions in Your Online Business  https://ebillity.com/post/top-tips-to-increase-customer-conversions-in-your-online-business/ Wed, 31 Jul 2019 21:10:27 +0000 https://www.staging6.ebillity.com/?p=7687 Generating new leads is a tricky business, especially for online businesses who have a ton of competition. How much time are you spending on lead generation? How does this compare when you add in the cost of staffing and marketing? When shipping is part of the cost of your services, you may already know that 30% of all online purchases ... Read more "Top Tips to Increase Customer Conversions in Your Online Business "

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Generating new leads is a tricky business, especially for online businesses who have a ton of competition. How much time are you spending on lead generation? How does this compare when you add in the cost of staffing and marketing?

When shipping is part of the cost of your services, you may already know that 30% of all online purchases are eventually returned, therefore you may want to consider some additional or alternative steps to win back customers. 

Small and mid-sized logistics businesses commonly struggle with growth. Poor lead generation, low sales conversion rates, and lack of sales predictability are some of the leading factors. It is likely that your company is spending 5-15% of your gross revenue on marketing, however driving website traffic and building landing pages won’t be enough, particularly with your industry’s specific needs. If you are getting a lot of customers from your website traffic, great! Generating leads will only bring more success and profit.

Did you know the average conversion rate for a Facebook Ad is 9.1%. Website conversion rates, however, lag at an average of just 2.35%. If you know you can do better, it’s time to think about your own conversion rates. Calculate your current rate and set goals so that you can think about the techniques your company can follow to achieve those goals. 

Here are some strategies that you can start putting into practice today to increase your sales predictability, produce leads consistently, and convert the leads into returning customers. 

Use Google Analytics

Your website is going to be the main method in which new customers find your services. Set up Google Analytics to get an excellent insight into your website visitors.

  • Find out how new visitors discovered your website. Was it from keyword searches? Were they redirected by referral websites?
  • Know where your visitors are from and how much time they are spending on your website.
  • Understand if the visitors are new or returning customers.
  • Are they browsing from their desktop or from a mobile device? 
  • How many of your visitors converted, and what was the process or interaction that lead them to that conversion?

Make shipping prices and conditions transparent

Trust is a vital part of your relationship with clients, and is what will bring them back as repeat customers (as well as making referrals to their friends and families). And any frustration of uncertainty will complicate and compound any issues they are having. 

  • Be clear and upfront about your prices and shipping costs and conditions from the beginning of any transaction
  • Specify each different delivery option you offer
  • Let your customer know the terms for expected delivery dates and times, as well as any potential holidays that could delay delivery times and therefore any associated costs and return times 
  • Your clients are entitled to any and all information you can possibly provide so that they can have realistic expectations and avoid potential disputes 
  • Clear language on all conditions and written information is key 
  • Being upfront and honest will keep loyalty flowing both ways in your valued customer relationships

Choose superior shipping partners and logistic tools

It may well be that the individual customer has no idea that there is a distinction between who delivers their order and the company from whom they actually purchased the goods they have ordered. Because of this, your shipping partner needs to be top-notch; after all, they are representing you.

  • Choose carefully! If your chosen shipping partner lacks the level of customer service you are hoping to convey, switch to one that shares your commitment 
  • Price will obviously factor heavily into your decision, but it shouldn’t be the only thing driving your final choice
  • Research your potential partner’s successful delivery and delay rates, customer support information, and complimentary insurance details 
  • Look for and use comparison websites. These are great because they often additionally provide offers from competitors and the choice to vary your shipment needs to find the best provider for you
  • Check a company’s reliability on your own; research reviews and ratings on top of listening to the company directly

Offer the right shipping options

Once you have chosen the best shipping partner, the next step is to make sure your shipping options are the best. With 45% of online shoppers abandoning their virtual shopping cart due to shipping options they didn’t agree with, and 38% of said customers refusing to shop at a company again after a negative delivery event, this step is imperative to success.

  • Offer shipping methods that are not terribly expensive and attract customers. This can be translated as having a good variety of cheapest and fastest delivery options to choose from
  • Incentives such as free or affordable shipping are expected in today’s market, so make sure you are living up to the average customer’s expectations by providing this yourself
  • Factor in extra expenses, such as international and expedited shipping, and keep these costs as low (and transparent) as you can 
  • Consider integrations with software that can sync to each location you are selling from online to best route each order to the closest shipping center for faster delivery and better service overall

Have excellent return policies

Giving your customers more time to return products will only build more trust and loyalty. It will also reassure them that if something is wrong with the product they have ordered, they will be able to get a refund.

  • Make all return policies clear and easy to understand. This will prevent any potential disputes and help your customers to calculate the exact process and cost should they choose to return an item 
  • Include this policy alongside the product and in all correspondence: its high visibility is absolutely necessary 
  • Allow extra time for returns. Build trust and ensure your customers are comfortable sending items back to continue to foster that loyalty

Increasing your conversion rates means understanding what works and what doesn’t with your customers. And don’t worry if new visitors aren’t converting the first time. They may come back when they have more need (or more money). The important thing is that you have taken the time to incorporate these tips into your business plan on top of the web content that makes your company look so appealing. 

Save time and money by automating your time tracking today and give yourself extra time to focus on increasing those customer conversions. We are offering a free 14-day trial for all your payroll, billing, and productivity needs. No credit card required. 

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Which Accounting Software Is Best For Your Business? https://ebillity.com/post/which-accounting-software-is-best-for-your-business/ Fri, 12 Apr 2019 17:33:47 +0000 https://www.staging6.ebillity.com/?p=6509 It used to be simple: businesses employed an accounting team to handle all of their accounting needs. Now, in the age of financial technology, it is more accurate, cost-effective, and simple to transfer data into accounting software that can do more than ever before. These leaps forward save a lot of time and money. But how can you be sure ... Read more "Which Accounting Software Is Best For Your Business?"

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It used to be simple: businesses employed an accounting team to handle all of their accounting needs. Now, in the age of financial technology, it is more accurate, cost-effective, and simple to transfer data into accounting software that can do more than ever before.

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.

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Time Saving Tips for Business Owners https://ebillity.com/post/time-saving-tips-for-business-owners/ Wed, 19 Sep 2018 19:51:51 +0000 https://www.staging6.ebillity.com/?p=3985 As a business owner, free time is hard to come by. Instead, there seems to be an endless stream of deadlines to hit, and a sense that there is never enough time for everything that needs to be accomplished in a day. What are some of the ways in which you can better manage your time, freeing up more to ... Read more "Time Saving Tips for Business Owners"

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As a business owner, free time is hard to come by. Instead, there seems to be an endless stream of deadlines to hit, and a sense that there is never enough time for everything that needs to be accomplished in a day. What are some of the ways in which you can better manage your time, freeing up more to spend on important tasks and finishing them on schedule?

Time Tracker has paired up with a number of partners whose products easily integrate with ours and allow you the ease of saving both time and money. Feel like you’re overworked and burning the candle at both ends? Read on for our time saving tips.

Time management. If you work in the legal field, you certainly know the cost of understanding where every moment of every day is spent. It’s easy to lose track of your time when you are working endless hours on client files and office tasks. Your schedule is hectic and varied, and it can seem like there just aren’t enough hours in the day to accomplish everything. We know you’ve heard it before, but time management is really the simple answer to this problem, and will save you unnecessary added stress. Take stock of how your daily hours are spent and reorganize your working week around the data you have compiled. By connecting your Time Tracker account with Clio, you can accurately track your time and then sync your invoices for precise client billing. Try Time Tracker + Clio free for 14-days to save time and money for your firm.

Prioritize tasks. With up-to-date financials in Xero, it is easy to prioritize your tasks. Analyzing these reports on an ongoing basis is easy when you can do it anywhere, from the comfort of your Mac, PC, tablet, or phone, any time of day. Reconciling and categorizing your recent bank transactions is instant, and along with tracking your inventory, this app is an excellent way to manage your time and set new goals based on real-time statistics. Xero is the answer: this app features all of the above, and paired with Time Tracker to incorporate actual time worked, rearranging tasks to save time becomes seamless. Take back 10+ hours weekly by combining the two.

Set timers and reminders. Stop spending large portions of your working day on laborious and tedious tasks like setting up meeting reminders and managing your calendars by outsourcing. Amazon’s Alexa can save your business time and money, and all you have to do is call out to your new intelligent assistant! When you have set a specific amount of time aside for a task, you will stop losing minutes and hours because you will stop when prompted, speeding efficiency and giving you back time in your working day. Pair Alexa with Time Tracker with greater efficacy; track your time hands-free and make more space for more important tasks.

Automate your invoices. Another task that seems endless and takes up much of your day is accounting. Fortunately, this is another chore that can easily be automated, precisely and safely. Invoice Tracker’s automated email reminders, detailed accounts receivable reporting, and instant online payment options speed the process of accounting immeasurably for your business. Input your data into customizable email templates, decide how often you’d like invoice reminders to be sent out to your clients, and let the app bring you faster payments and more time. Pair Invoice Tracker with Time Tracker to allow for greater accuracy in billing, as the two apps sync your data automatically.

Integrate and reconcile payroll. Boost your productivity and save time by using Sage’s bank integration and reconciliation feature. With accurate invoicing, detailed budgets and planning, Sage can create more time in your working week. Now you can manage expenses and approvals electronically, and transact in multiple currencies. For paperless payroll that is detailed and exact, pair your Sage account with Time Tracker. Your employees will be able to track and submit their hours from anywhere, and admin have the ability to approve, reject, edit, and review from the comfort of their own dashboard. Everything you need in one place!

Outsource. Have an app you don’t see here that works to complement other time and accounting tools? Zapier will smoothly integrate your web applications, and build a workflow between them. Watch your productivity skyrocket when you outsource and automate as many tasks as possible. Perform up to 100 tasks a month when you use this service to link your apps. The best part? You don’t need to know a thing about code.

Hopefully these tips have been helpful. By implementing the integration features shown here, you will find that time seems to have magically appeared in your work week. Isn’t it great to automate the less desirable and time-consuming projects in your business? After all, time is money. Prime your business for success with these time saving aids.

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Get Paid Faster Add-on Invoice Tracker to Your Time Tracker https://ebillity.com/post/get-paid-faster-add-on-invoice-tracker-to-your-time-tracker/ Thu, 19 Jul 2018 15:06:19 +0000 https://www.staging6.ebillity.com/?p=3748 You have been tracking your time with Time Tracker to ensure you are billing actual time and it has started to improve profitability, however did you know that 82% of businesses that go out of business failed because of cash flow problems. According to The Atradius Group 48.8% of all invoices are paid late and if your invoice is 90 ... Read more "Get Paid Faster Add-on Invoice Tracker to Your Time Tracker"

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You have been tracking your time with Time Tracker to ensure you are billing actual time and it has started to improve profitability, however did you know that 82% of businesses that go out of business failed because of cash flow problems. According to The Atradius Group 48.8% of all invoices are paid late and if your invoice is 90 days past due there is only a 50/50 chance of actually being paid – this directly impacts cash flow.

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.

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Invoice Tracker: A new product you’ll flip for! https://ebillity.com/post/invoice-tracker-new-product-youll-flip/ Mon, 24 Apr 2017 05:49:25 +0000 /?p=1048 Have you ever trained a dog to fetch? It can take some work. Lucky for you, we’ve already done the heavy lifting and our dog team is standing by, specially trained to fetch one thing for you—your money. Overdue invoices? Release the hounds. Unpaid bills are ruff, aren’t they? That’s why we’ve launched a brand new eBillity product—Invoice Tracker. It ... Read more "Invoice Tracker: A new product you’ll flip for!"

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Have you ever trained a dog to fetch? It can take some work.

Lucky for you, we’ve already done the heavy lifting and our dog team is standing by, specially trained to fetch one thing for you—your money.

Overdue invoices? Release the hounds.

Unpaid bills are ruff, aren’t they? That’s why we’ve launched a brand new eBillity product—Invoice Tracker. It syncs with your accounting software to send automated payment reminders for overdue invoices so you can get paid faster!

How does it work?

Your first step is to connect your invoicing software—Time Tracker, Thompson Reuters Time and Billing, QuickBooks or Xero—with Invoice Tracker. Once you’re connected, your invoices will be imported so Invoice Tracker can start chasing down the overdue ones.

Invoice Tracker comes with pre-written emails you can use right away that vary in tone and intensity, but you can write your own if you’d like. Then, go on and choose or create the sequence of emails you want your client to receive.

The last step is to start a Chase and get paid—fast! Invoice Tracker deploys your email reminders for you and you can even set it up for them to chase automatically. Place online payment links into the emails via Stripe so your clients can easily pay online with their credit card!

Best-in-show benefits

You have your handy pre-written emails and Stripe integration for online payments, but you can customize your branding too! Add a logo and signature to every invoice to match the look and feel of your business. After all, invoices with logos are 300% more likely to be paid on time.

Invoice Tracker has handy reporting too so you can see who paid you, when they paid you, the average time to get paid, and the accounts receivable by client. You can save customized reports and schedule them to be sent via email or export them to a pdf or .csv file.

Give up the grind of hounding clients. For good.

Try out Invoice Tracker and experience the satisfaction for yourself! Chase up to five invoices at a time, on us!

Sign up for free

The post Invoice Tracker: A new product you’ll flip for! appeared first on eBillity.

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