BooksTime Reviews, Demo & Pricing

The Reports screen, shown above, lets you display your top five reports at the top of the page for quicker access. Reports in assets = liabilities + equity have limited customization options available, but they can be exported to Microsoft Excel for customizing.

Ease-of-use is enhanced as the system can be adapted to suit what type of user you are. Freelancers and self-employed sole trader-types have it even easier. bookkeeping is a well worth considering if you’re a small to medium-sized business or sole-trader looking to simplify your accounting needs within the convenient confines of an affordable package.

BooksTime Accounting Software

Its mobile app lets you create and send invoices when you’re on the go. ACH transfer to help your clients pay their way—and pay you faster. Payment reminders are also helpful for small business owners who need better cash flow. You can upgrade to Advanced Payments to access a payment terminal for credit card processing in person, and to create customizations and automations for specific customers. Every business has their dream accounting software that checks each of their boxes, making finances and expense tracking something they can basically set and forget. While you may never find this dream software solution for your business—you can get close.

If you opt for this version of BooksTime accounting software, then you’ll be able to attach up to 50 active clients to your account at a time. Similarly, if you accept credit card payments or bank transfers with this plan, you’ll face the same 2.9% + $0.30 and 1% transaction fees, respectively. Choosing the right business accounting software can be essential to automating and optimizing your operations—regardless of the size of your business. You can create a new project in minutes, with the option to choose a flat-rate project or an hourly project. All you need to do is assign the project to a client, enter the project services you’ll provide, and enter either the flat-rate amount or the hourly rate for the project, and you’re good to go. Creating a project can be particularly helpful if you tend to forget to track your time properly since potentially every service you sell can be a project. If you’re self-employed,BooksTime was created to give you an easy way to track income and expenses.

Accounting Features Designed For Business Owners And Accountants

It’s now possible to integrate Barclaycard Payments into BooksTime, providing extra convenience for business customers. Competitors in this software area include BooksTime, BooksTime, BooksTime Business Cloud Accounting, BooksTime, BooksTime Books and Kashflow. Tim Yoder is a subject matter expert at Fit Small Business focusing on small business bookkeeping, accounting, and tax content. Tim is a Certified BooksTime Time Pro, BooksTime ProAdvisor for both the Online and Desktop products, as well as a CPA with 25 years of experience. He most recently spent two years as the accountant at a commercial roofing company utilizing BooksTime Desktop to compile financials, job cost, and run payroll. BooksTime has an aesthetically pleasing and BooksTimeive interface that is easy to use and navigate. From the dashboard, you can access all the important features and financial reports you need instantly.

Moreover, Wave gives you the ability to extend your accounting software functionality with their payroll and payments paid add-ons. FeatureDescriptionDashboardThe dashboard is the first thing you’ll see when you log onto your BooksTime workspace. It will show basic graphs about your outstanding revenue, total profit, revenue streams, and more. You’ll also be able to add clients one by one, and can do the same for your vendors.Team MembersYou’ll be able to add your company’s employees, your accountant, and any contractors you work with. If a client accepts your proposal, you’ll be able to convert it to an invoice with just a few clicks, which is incredibly easy. You can track time against specific clients and projects in BooksTime. A Chrome extension is available to enable time tracking in apps such as Basecamp, Asana, and Trello.

Accounting Software Buyer’s Guide

BooksTime invoices easily pull in hours from BooksTime Time Tracking, ensuring that you’re getting paid for all of the work you put in. Additionally, you can create retainer relationships for a set period of time or the lifespan of a particular project. You can assign an expense to a client through the “mark as billable” option on the right side of the page.

It stands out with its good customer service and customizable invoicing features. However, it’s not ideal for fast-growing businesses because of user and client limits on some of its plans. Using the app, you can photograph receipts and log them as expenses. You can then categorize them, connect them to transactions imported from your bank account or credit cards, and mark them as billable so you can add them to invoices. Expenses can be attached to projects or clients so you can see what you’re spending, helping you stay on budget.

For example, he said, more business owners are working to become digitally enabled to meet local tax and invoice compliance systems. Easily log and organize expenses in bookstime jobs to track every dollar spent so you’re always ready for tax time. Create and share your own stacks, generate tokens for direct API calls, build your own wrapper, and more. BooksTime Accounting ensures your business decisions are based on actual business data and insights. Learn the costs of running your business, and confidently forecast your earnings.

You can either check a box to apply those taxes to all line items on the invoice or assign them individually. BooksTime does not directly integrate with a sales tax service like gold standard Avalara, but even without this, it handles sales taxes like most competitors do. The Sales Tax Summary report will help you fill out any necessary related reports. Over the years, it has expanded in scope and grown into the go-to online accounting service for sole proprietors and startups. Its popularity extends to small to midsize businesses in many cases. The site went through a major update a few years ago, and many features in BooksTime “Classic” were left behind, though they continue to be reintroduced. This new BooksTime is the best choice for the smallest businesses because of its exceptional usability and aesthetic properties—and its smart selection of features.

Online Store

The Plus plan is $7.50 per month, which lets you bill up to 50 clients. You can send recurring invoices, automated payment reminders and charge late fees. Collaboration with your accountant on bookstime career is free with this plan. BooksTime offers inventory tracking and better reconciliation, as well as more favorable integrations. Overall, BooksTime features a higher score on the G2 review site. BooksTime Chrome Timer, and there are integrations to track time in Asana, Trello, Basecamp, and Teamwork.

BooksTime is an accounting software that’s designed for small businesses with up to 50 employees. Because of the easy-to-navigate interface, BooksTime is accessible to those who have little knowledge of or experience with accounting. We recommend BooksTime for freelancers who are just starting out and need a quick-to-implement, BooksTimeive invoicing and accounting tool. BooksTime is an accounting software designed for small, service-based businesses. What the software lacks in advanced features, it makes up for in ease of use and value. BooksTime is a great accounting tool for any small business that needs to get their accounting under control quickly.

This feature also allows for file storage so everyone can access important documents for the project. As of 2019, BooksTime uses the double-entry accounting template for these reports, making it easier to track the money in your accounts. BooksTime’ “expenses” feature doesn’t have a bills manager where you can set up reminders or pay your bills online, like you can with BooksTime Online .

The company Stripe did pay me $1000, because they said thats all they was responsible for. But We-pay never paid me anything and BooksTime acted as though they where not even involved, even though I pay them a monthly fee to take care of my invoices and payments.

Your contributors and employees can track their time, allowing you to easily monitor the hours spent on a project. You can also bill clients for hours tracked and expenses incurred on their projects. You can schedule BooksTime to automatically send recurring invoices and payment reminders; you can also set it to add late fees to past-due invoices either as a percentage or flat fee. With BooksTime, every time you bill your clients, get paid, log hours and expenses, it’s all tracked and automatically transformed into reports for you. See how it all fits together, know how your business is doing, and plan for the future with confidence. Giving your clients easy ways to pay is part of delivering a great experience for your clients too.

Has Mileage Tracking

I think as a small business management tool, it is a little expensive than others. The only complaint I have with BooksTime is the Expenses feature. It has the ability to connect to your bank account to automatically pull in your charges, however, it never stays connected to our bank and it becomes a hassle. But they are great about helping to resolve the issue when it happens. If you’ve never used BooksTime before, you shouldn’t have much trouble learning how the current version works. BooksTime’ design is exceptional and its navigation tools are BooksTimeive. We recommend you check with the company before switching from BooksTime Classic, though, to make sure your must-have features are there.

• Therefore, it’s quick and easy to get set up using BooksTime and won’t take you an extended amount of time to figure out how to make the most of their platform.
• It also allows for a more accurate accrual-basis reporting of expenses.
• In terms of uBooksTime and the user experience, we found it to be most similar to Wave.
• BooksTime was founded in 2004 by Mike McDerment, Levi Cooperman, and Joe Sawada in Toronto, Ontario.
• However, for the more unusual requests you may have, or indeed if you prefer a human to advise you, then there’s an easy-to-find phone number in the same section of the site.

BooksTime is one of the biggest names in the invoicing and accounting scene and is the software choice for over 10 million customers. BooksTime has a number of key accounting features, double-entry accounting, and numerous integrations. BooksTime has finally stepped up to the plate with its feature set and joined the big leagues with other accounting competitors, such as BooksTime Online and Wave. BooksTime’ inventory features tie in with its accounting software, which means you can enter payments made to suppliers, inventory on hand, and making future orders based on inventory output. These features support small-to-medium retail and manufacturing outfits with complicated accounting procedures. BooksTime offers an additional add-on feature that tracks payroll for full or part-time employees. Otherwise, you’ll have to enter payroll as an expense, and bill it by categorizing the employee’s service as a product.

BooksTime works best for companies that sell products and require a scalable, fully-fledged accounting software. With a huge amount of features like invoicing, Client Portal, Contact Management, Expense Tracking, Project Management make your business easy to manage. For people who are trying to start a new business, I would recommend the cash basis vs accrual basis accounting at first. While BooksTime is an exceptional choice for freelancers and independent contractors, it lacks a lot of functionality that larger, more complex businesses need. BooksTime BooksTime Online wins our Editor’s Choice for small business online accounting. Click the Invoices tab in the toolbar to open a screen that tells you everything you need to know about your accounts receivable (though the site doesn’t use that accounting term) status.

We believe everyone should be able to make financial decisions with confidence. A disadvantage of BooksTime is the maximum number of billable clients per plan. With the Lite plan you can only manage and invoice 5 clients, which is very limited for most businesses.