BooksTime has so much to offer, and you’re bound to find something that makes your business accounting easier. Katelyn is a Junior Research Analyst at SoftwarePundit, where she conducts in-depth analyses of technology markets https://bookstime.company/ & products and writes software-related content. She graduated summa cum laude with degrees in English and Psychology. Her main areas of interest are content creation, user experience, and search engine optimization.
Unfortunately, certain features are not accessible through the app. Here’s a look at the different client limits, side by side, based upon the plan you choose. Naturally, you’ll have to crunch the numbers and make that call for yourself. But there’s some wisdom behind the idea that sometimes you need to spend money to make money—regardless of which accounting software you ultimately choose to get the job done.
Each project has its own home page, where you can review your entries and add more, as well as exchange messages with your team members. You provide contact information and are encouraged to invite your team members to set up accounts. Then, BooksTime drops you into the main site, where you encounter a box with three setup steps. Most sites just ask for a graphics file and position the logo on the sales form. Randy Johnston and Brian Tankersley, CPA.CITP, CGMA review the small business accounting platform BooksTime. BooksTime includes a simple default chart of accounts that also supports sub-accounts.
This addition allows BooksTime to compete with products such as BooksTime Online and BooksTime. If you’re just starting out or have no plans to hire an employee, then BooksTime is for you. However, if you find your business growing, there are more suitable products available. Product Reviews Unbiased, expert reviews on the best software and banking prepaid expenses products for your business. Comparisons Trying to decide between two popular software options? Best Of We’ve tested, evaluated and curated the best software solutions for your specific business needs. Accounting Accounting software helps manage payable and receivable accounts, general ledgers, payroll and other accounting activities.
If you’re a freelancer, own a startup, or a small business, you can surely benefit from BooksTime accounting software. It’s simple, has responsive customer support, and numerous accounting features. With the Plus and Premium plans, you can add advanced payments, extending the BooksTime billing service into a subscription-based and recurring billing service.
If You Need A Scalable Accounting Solution
If you’re looking for more support, a few more features, and more advanced services, BooksTime may be for you. But for those who don’t need all the glitz and glam of BooksTime and want to pay less, BooksTime has a ton to offer. is slightly higher than BooksTime, with plans starting at $20 (at the time of writing, you can get the basic version for just $10). Since I chose the different industry option, BooksTime asked me a few questions about my business.
It can, however, take a while for a user of the old BooksTime interface to get oriented. Fortunately, BooksTime offers plenty of guidance, including a searchable help database and email and phone support.
What can I do with BooksTime?
All The Features That Make BooksTime Ridiculously Easy To Use 1. Invoicing. More Info. Customizable Invoices.
2. Expenses. More Info. Receipt Attachments.
3. Estimates and Proposals. More Info. Rich Proposals.
4. Time Tracking. More Info.
5. Projects. More Info.
6. Payments. More Info.
7. Accounting + Reports. More Info.
8. Clients. Contact Info.
That said, if you are doing work with lots of clients that are paying well, the $25/mo is fine. But if you are getting established or doing work with lots of clients with small individual invoices…BooksTime’ pricing is a con. BooksTime’ pricing is pretty simple – but it hinges on one thing – your number of clients. If you are a freelancer or business getting projects from lots of different clients, then you will quickly get placed in the Plus tier of ~$25 USD per month. The last integration that I like is 3rd party user integration – aka the invite your accountant functionality.
Along with project management, BooksTime helps you manage your (and your team’s) time. I tend to work solo, only occasionally hiring out contractors. But if you have a team to keep manage of and collaborate with, BooksTime’ project management features may be a good fit for you. The new BooksTime removed the option to receive customer payments via PayPal, which I’m not impressed about. While I’m not a fan of PayPal by any means, it is still one of the most popular online payment processors in the world. But these days, every business wants to receive payments via credit card.
Overall, BooksTime features a higher score on the G2 review site. If you need double-entry accounting, BooksTime accounting software can give you exactly what your business needs. Balance sheets BooksTime and General Ledger help to provide visuals and reports for your current standings. Accounts Payable is integrated with your invoices, and Bank Reconciliation allows for rapid book closing.
BooksTime Accounting Software Review
It’s even harder to find great invoicing software and accounting functionality at an affordable price. That’s what makes BooksTime such an ideal option for small businesses. This review is for small business owners who want to learn about FreshBook’s accounting software and why it’s our best pick for invoicing. It’s affordably priced, has multiple invoicing features and is easy to use, making it ideal for business owners who send a lot of invoices. BooksTime makes it super easy to keep track of your business expenses by automatically importing your purchases from your bank accounts and credit cards. My favorite features are the ones that allow me to automate my business.
In a time when most people were still clunking their way through overpriced BooksTime CDs, BooksTime introduced a ground-breaking, cloud-based invoicing platform. Our support staff is with you on every step of your journey of growth, starting the moment you make the switch from spreadsheets or any other accounting software. You’ll always invoice for exactly what you’re worth when you track time using BooksTime. You and your team can log your hours and then automatically put them onto an invoice. Checkout Links allow you to collect payments on fixed priced items and services using a simple URL.
- In the dashboard, you’re able to view the financials in your business, any money owed, any unbilled time you have, and more.
- They contain fields for each client’s name, mailing and email addresses, and phone numbers.
- This feature allows business owners to invite their team, contractors and business partners to work on different projects.
- As an accounting software, BooksTime makes it easy for small businesses and freelancers to automate invoicing.
Another nice feature is that BooksTime users can add their accountant as a BooksTime user, giving the accountant access to the dashboard and reports. BooksTime is more than just a place for you to keep track of your financials. You can send invoices to your clients, track the time your employees have worked, log your daily expenses and chat with customers online. Because it’s so popular, you can integrate other work platforms with it. The second pricing package is Plus whose price is set at $25 per month. It has all the features provided by Lite with key upgrades and additional tools.
BooksTime has an aesthetically pleasing and BooksTimeive interface that is easy to use and navigate. I personally created an account, and it only took me a few minutes to set it up. From the dashboard, you can access all the important features and financial reports you need instantly. It’s a good choice for beginners who are just starting their business. BooksTime provides seven reports that cover the basic accounting aspects of your business. These reports include sales tax summaries, profit and loss, invoice details, aging accounts, time entry details, expense details, and payments collected.
Can I Accept Credit Card Payments Through BooksTime?
The Advanced Payments add-on costs $20 per month, plus 3.5% and 30 cents per transaction. This credit card processing service includes a virtual terminal, so you can accept payments over the phone and in person. It also has a feature that allows your clients to authorize recurring payments. BooksTime offers several pricing plans that are based on the number of active clients you’re working with and the included features. The company offers a 30-day free trial so you can thoroughly test the software before deciding if it’s right for your business. Nearly anything you can do on the desktop version can also be done in the mobile app.
It’s easy to navigate, and the search feature is very thorough. Their largest competitor, BooksTime, charges $27/month for their “Plus” plan. From what I can tell, the only thing you can’t use is the Reporting feature.
When you fill out the invoice, use the description label to name and differentiate clients. But if you do a certain service for a defined rate – add that into BooksTime. Many freelancers will have a side-project with ad revenue from Google AdSense, affiliate partners or ad buys. In the old BooksTime, everything was set up as “client.” To keep track of ad revenue, I created the partner as a client but used my information. BooksTime has the ability to sync with your bank and credit card company to automatically pull in expenses. However, BooksTime’ also tries to automatically tag expenses….and it’s not so smart there.
Thanks For Subscribing To The BooksTime Blog Newsletter
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 . You can set up invoice reminders through the “send reminders” button under customer settings, which will show up after you pick a client. You can send up to three reminders with customizable intervals and personal messages. BooksTime will automatically send out https://bookstime.services/ reminders to the client for their future invoices, so you only need to do this once. To create a new invoice item, click the “add a line” button below the item description table. Just like adding clients, you can pick a product from your item list or add a new product. If you’re creating an invoice for a client with unbilled hours, BooksTime recommends adding the hours as soon as you click on the “item name” box.
The Lite plan costs $4.50 per month for up to five billable clients. You can connect the software to your bank account, track time and accept invoice payments online. There’s no limit to the number of estimates and invoices you can send , and you receive free access to the BooksTime iOS and Android mobile app.
But the software is built to adapt to businesses of all sizes — give its “Self-employed” plan a chance at $7.5 per month for the first three months. Advanced accounting tools are available for payroll management, monitoring cash flow and sales tax through its customizable reports, maximizing your tax deductions, and bank reconciliation. You can accept online payments on your invoice through credit cards and bank transfers by enabling BooksTime payments . To enable it, you need to head over to “Accept Online Payments” under settings on the right sidebar. Once you’ve created an invoice, you can send it to your clients via the BooksTime platform or get a shareable link. If you want to send it manually, you can download the invoice as a PDF file — but this’ll deny you the ability to track when the client opens the invoice.
Alternatively, you can connect your Stripe account to the system. 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. A list of all invoices and recurring templates appears at the bottom. Overall, BooksTime has the simplest, most BooksTimeive, and most attractive screen displays of all the services I’ve reviewed recently.
Plus all of your data is stored securely in the cloud, so you can work wherever you are, on whichever device you’d like. Its built-in invoice generator creates personalized invoices in seconds. You may request your clients make a deposit on your invoice, add tracked time and expenses, accept credit cards and automated clearing house payments, and more. Choose from a gallery bookkeeping of free and customizable invoice templates in PDF, Word, Google Docs, Excel, and other helpful formats. This gives you access to features such as batch invoices and expenses, automated approvals and reminders, management reports and fields, and custom reporting fields. If your business needs to pay bills from time-to-time, then BooksTime can help reduce office admin.
So, if you give your contractors or employees access to your account, they will see all of your company data, reports included. Your clients can also send you messages, and you can view them in the built-in chat feature with your invoices. If your clients want to automate their finances, they can also save their credit card info so their invoices are paid automatically.