Harvest - Detailed Review

Finance Tools

Harvest - Detailed Review Contents

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Harvest - Product Overview

Harvest Overview

Harvest is a finance tool that specializes in time tracking, reporting, and invoicing, making it an essential asset for businesses looking to manage their projects efficiently.

Primary Function

Harvest’s primary function is to provide visibility into key aspects of projects, including budget, team capacity, and costs. This helps businesses keep their projects on time and on budget. The platform enables users to track time spent on tasks, manage expenses, and generate invoices, all of which are crucial for maintaining financial health and project accuracy.

Target Audience

The target audience for Harvest includes a wide range of businesses and teams. This encompasses creative agencies, management consulting firms, and any other type of organization that needs to track time and manage project finances. Specifically, it is useful for teams of all sizes, from small startups to larger enterprises, across various industries.

Key Features

Time Tracking

Harvest makes it easy to capture time spent on tasks, allowing users to gain insights from past projects and ensure they get paid for their work. The time tracking feature is accessible via desktop, browser, and mobile devices.

Reporting and Insights

The platform provides clear visual reports that compare actual time vs. budget, helping users identify which tasks are impacting costs. It also allows users to review past data to improve how they scope and price future work.

Invoicing

Harvest simplifies the invoicing process, enabling users to generate professional invoices based on the time tracked. It supports both time-based and fixed-fee billing.

Integration

The tool integrates with various apps and tools that teams already use, making it easy to adopt and use within existing workflows.

Accuracy and Audits

Harvest includes features like timesheet approvals and easy audits to ensure the accuracy of the team’s tracked time.

Conclusion

Overall, Harvest is a user-friendly and intuitive tool that helps businesses manage their time and finances effectively, ensuring projects are completed on time and within budget.

Harvest - User Interface and Experience

User Interface of Harvest

The user interface of Harvest, specifically the time tracking and finance tool available at https://www.getharvest.com/, is designed to be intuitive and user-friendly, making it easy for accounting and finance teams to manage their time, invoices, and reports.

Ease of Use

Harvest simplifies time tracking by allowing users to start and stop a timer as they work or fill in timesheets at the end of each day or week. This flexibility ensures that the tool does not interrupt the workflow of the team, enabling them to focus on their tasks without additional hassle.

User Interface

The interface is clean and straightforward. Here are some key features that contribute to its ease of use:

Time Tracking: Users can easily track hours spent on each task, and the system keeps a record of billable work hours, utilization, and any time that rolls over into the next month.
Invoicing: Harvest automatically transforms tracked time and expenses into invoices that clients can pay online, streamlining the payment process.
Reporting: The tool provides detailed visual reports that offer insights into previous accounting jobs, helping users plan projects and make informed decisions. These reports are shareable with clients in real-time, ensuring transparency and accuracy.

Integrations and Accessibility

Harvest integrates seamlessly with popular tools that teams already use, making the onboarding process smooth. It is accessible across various devices, allowing employees to capture their time from anywhere they work. Automated reminders can be set up to help employees build smart habits and ensure accurate time tracking.

Customization and Permissions

For larger teams, Harvest offers customizable permissions, which help in managing access and ensuring that the right people have the right level of control. This feature is particularly useful for robust teams needing to manage multiple projects and users.

Overall User Experience

The overall user experience is enhanced by the tool’s ability to provide actionable insights through its detailed reports and visual analytics. This helps finance teams optimize their time, manage budgets, and keep projects on track. The user-friendly interface and the absence of unnecessary clutter make it easy for users to focus on their core tasks while leveraging the benefits of accurate time tracking and efficient invoicing.

Harvest - Key Features and Functionality

The Harvest Finance Tool

The Harvest finance tool, available at getharvest.com, is a comprehensive time-tracking and invoicing solution that integrates various features to streamline financial management and project tracking. Here are the main features and how they work:

Time Tracking

Harvest allows users to track time spent on projects and tasks with ease. This feature includes:

Ease of Completing Timesheets: Users can quickly log their hours worked on specific projects or tasks, making it simple to manage and record time.
Tracking Time to Project/Task: Time can be tracked directly against specific projects or tasks, ensuring accurate billing and project management.

Client Invoicing

Harvest simplifies the invoicing process:

Invoice Creation and Delivery: Users can generate invoices based on the tracked time, and these invoices can be sent electronically to clients. This automation reduces manual errors and speeds up the payment cycle.
Electronic Payments: Invoices can include payment links, making it easy for clients to pay online.

Integration with Accounting Software

Harvest integrates seamlessly with popular accounting platforms:

QuickBooks and Xero Integration: This integration automates the transfer of financial data, including invoices, expenses, and client information. It simplifies invoicing, expense tracking, and financial reporting, reducing manual data entry errors.
Automated Workflow: The integration automates review, approval, and processing functions, minimizing manual entry and delays. Features include automated invoicing, real-time financial tracking, and bank reconciliation.

Project Management Integrations

Harvest connects with project management tools to enhance productivity:

Asana and Trello Integration: Users can track time directly from task cards in Asana or Trello, ensuring real-time data synchronization and reducing the need to switch between applications. This integration helps in identifying project bottlenecks and optimizing processes.

AI-Powered Insights

Through the integration with Metric AI, Harvest provides AI-driven analytics:

AI-Powered Questions: Users can ask questions and receive custom dashboards with charts, reports, and KPIs, providing actionable insights to drive informed decisions. This feature helps in monitoring key metrics like utilization, profit margin, and bench cost.

Administrative Features

Harvest includes several administrative tools:

Automated Reminders: The system sends automatic reminders to employees who have not completed their timesheets or expense reports, ensuring timely submissions.
User, Role, and Access Management: Administrators can manage user roles and access levels, ensuring that the right people have the right permissions.

Reporting and Analytics

Harvest offers comprehensive reporting features:

Financial Reporting: Users can generate balance sheets, income statements, and cash flow statements for financial monitoring. The integration with accounting software ensures real-time access to financial data.

Conclusion

In summary, Harvest’s features are designed to automate and streamline financial management, time tracking, and project management. The integration with accounting software and project management tools, along with AI-powered insights, makes it a versatile and efficient solution for businesses.

Harvest - Performance and Accuracy

Harvest Finance

Harvest Finance is a crypto smart contract platform focused on optimizing yield farming through automated strategies. Here are some key points regarding its performance and accuracy:

Performance Metrics

Harvest Finance provides a range of performance metrics, including dynamic charts, historical yield performance indicators, and yield estimates. These tools help users track the performance of their yield farming strategies across various platforms like Ethereum Mainnet, Arbitrum, Base, Polygon, and zkSync Era.

Accuracy and Reliability

The platform aggregates yield opportunities from multiple DeFi platforms, ensuring users can make informed decisions based on accurate and up-to-date data. However, the accuracy can be affected by the underlying DeFi systems and the complexity of the farming strategies involved.

Security and Transparency

The security audit report by Least Authority highlights some areas for improvement, such as the need for multisignature governance for critical actions and the management of flash loan risks. These measures are crucial for maintaining the integrity and security of the platform.

User Experience

While the platform offers a simplified and powerful interface, there are some technical nuances, such as price discrepancies and transaction delays, that users need to be aware of to avoid issues.

Limitations and Areas for Improvement

Technical Complexity

The system’s complexity, particularly in managing various DeFi strategies and platforms, can lead to delays and discrepancies. Simplifying these processes and reducing complexity where possible is recommended.

Security Risks

The platform needs to continue monitoring and mitigating risks such as flash loan attacks, which can be prevented through technical remediations like restricting contract usage or implementing two-step processes.

Transparency in Governance

Improving transparency in governance and strategy upgrades, possibly through multisignature wallets, can enhance trust and reliability.

Conclusion

Harvest Finance performs well in aggregating and optimizing yield farming strategies, providing users with valuable metrics and tools. However, it faces challenges related to the technical complexity of its system and the need for enhanced security and governance transparency. Addressing these areas can further improve the platform’s accuracy and reliability.

Harvest - Pricing and Plans

Harvest Pricing Overview

Harvest offers a clear and straightforward pricing structure, catering to the various needs of individuals and businesses. Here’s a breakdown of their plans and features:

Free Plan

This plan is free forever and is suitable for freelancers and solopreneurs.
Limitations:

Limited to 1 active user (archived users do not count).
Limited to 2 active projects (archived projects do not count).
Cannot upload a company logo, attach files to invoices or estimates, or integrate with QuickBooks Online or Deel.
Cannot import data or projects and people from Asana.

Features:

Time tracking
Expense tracking
Invoicing
Project estimates
Basic reporting
Unlimited clients and invoices.

Harvest Pro Plan

This plan is designed for startups, growing businesses, freelancers working with multiple clients, and businesses that use billable hours.
Pricing:

$12 per user per month (billed monthly).
$10.80 per user per month (billed annually), which includes a 20% discount for yearly payments.

Features:

Unlimited users and projects
Time tracking
Expense tracking
Invoicing and online payments
Budget monitoring
Advanced reporting and insights
Cost and expense tracking
Integration with over 50 apps (including Asana, Basecamp, Trello, Google Calendar).

Additional Considerations

Free Trial: Harvest offers a 30-day free trial for the Pro plan, which includes all features. No credit card is required to start the trial.
Discounts: Discounts are available for teams of 50 people, nonprofits, schools and universities, educators using Harvest in a classroom setting, and students. Contacting the support team is necessary to inquire about these discounts.
Payment Options: You can pay via credit card either monthly or yearly. For yearly payments with 10 or more seats, you can also request an invoice to pay via ACH or bank transfer.

This structure allows users to choose a plan that fits their specific needs, whether they are solo freelancers or part of a larger team.

Harvest - Integration and Compatibility

Harvest Overview

Harvest, a time-tracking and invoicing tool, is highly versatile and integrates seamlessly with a variety of other tools and platforms, making it a valuable asset for businesses looking to streamline their workflows.

CRM Integrations

Harvest integrates with popular Customer Relationship Management (CRM) tools such as Salesforce and HubSpot. These integrations allow for the automatic synchronization of client data, project details, and time entries between Harvest and your CRM. This integration helps in accurate billing and improves client relationship management by providing a comprehensive view of client interactions and project progress.

Accounting Software Integrations

Harvest connects with major accounting platforms like QuickBooks and Xero. These integrations automate the financial data flow, simplify invoicing, and streamline expense tracking. For instance, the Harvest-Xero integration enables the seamless transfer of time entries and project expenses from Harvest to Xero, which is crucial for efficient invoicing and expense management.

Project Management Integrations

Harvest also integrates with project management tools like Asana, Jira, and SmartSheet. These integrations make project time logs and tasks available directly within Harvest, enhancing project management efficiency.

Payment Integrations

Harvest supports integrations with leading online payment processors such as PayPal, Square, and Stripe. This allows businesses to accept payments directly through the platform, simplifying the billing and payment process.

Custom Integrations with IFTTT

Using If This Then That (IFTTT), users can create custom integrations between Harvest and other apps like Google Calendar, Dropbox, and Slack. This flexibility enables the automation of specific workflows that are unique to each team’s needs.

Compatibility Across Platforms

While the primary focus of Harvest is on cloud-based integrations, it does not have specific compatibility requirements for end-user devices. However, for administrative and technical configurations, it is generally compatible with standard web browsers and does not require specialized hardware.

Backend Compatibility

In terms of backend compatibility, the information provided is more relevant to other versions of Harvest, such as CA Harvest SCM, which has specific requirements for operating systems and databases. However, for the cloud-based Harvest tool, there are no detailed specifications on server platforms or operating systems, as it is primarily a cloud service.

Summary

Harvest’s integration capabilities are extensive and cover a wide range of business functions, from CRM and accounting to project management and payment processing. Its compatibility is generally high across various cloud-based services and standard web browsers, making it a flexible and efficient tool for businesses to manage their financial and project-related tasks.

Harvest - Customer Support and Resources

Customer Support Options

Email Support

You can reach out to Harvest’s customer support team via email. While the specific email address for general support is not listed on the provided website, it is common for companies to have a dedicated support email, which you can usually find in the contact or support section of their website.

Knowledge Base and Help Center

Harvest likely has a comprehensive help center or knowledge base where you can find answers to frequently asked questions, guides, and tutorials on using their time tracking, invoicing, and reporting tools. This resource helps you resolve common issues on your own.

Community Support

Sometimes, companies have community forums or support groups where users can ask questions and get help from other users or support staff.

Additional Resources

Time Tracking Guides

Harvest provides detailed information on how to use their time tracking features, including how to track billable work hours, see time roll over into the next month, and check utilization at a glance.

Invoicing and Reporting Tools

The platform offers resources on how to transform tracked time and expenses into invoices that clients can quickly pay online. Additionally, there are detailed reports that provide insights into previous accounting jobs, helping you optimize your time and make better decisions.

Integrations

Harvest integrates seamlessly with other tools you might be using, simplifying complex workflows. This is often explained in detail in their documentation or support section.

Onboarding and Demos

For larger teams, Harvest offers personalized demos to help with onboarding. This includes explanations of integrations, visual reporting, customizable permissions, and automatic insights into budgets and team capacity.

Technical Support Structure

While the specific technical support structure of Harvest is not detailed in the provided sources, it is common for such companies to have a tiered support system. For example, other companies use a system like the “Fireteam” and “Delta Force” model, where initial support queries are handled by less technical staff before being escalated to more technical team members if necessary.

If you need more specific information or have detailed questions, it is best to visit Harvest’s official website and look for their contact or support section, where you can find the most accurate and up-to-date information.

Harvest - Pros and Cons

Advantages

User-Friendly Interface

Harvest is known for its easy-to-use interface, making it simple for freelancers, consultants, and small to medium-sized businesses to track time, manage projects, and generate invoices.

Time Tracking and Invoicing

Harvest allows users to track billable time easily, set different rates for different people or tasks, and automatically generate invoices based on recorded timesheets and expenses. It also supports recurring and retainer invoices, as well as estimates that clients can approve or decline.

Expense Tracking

The platform integrates expense tracking, enabling users to log expenses, attach receipts, and categorize them under specific projects or tasks. This simplifies the process of charging clients for out-of-pocket expenses.

Reporting and Analytics

Harvest offers solid reporting tools, including time reports, detailed expense reports, and invoice detailed reports. These reports can be exported in various formats like PDF or CSV, helping users track project health and ensure profitability.

Integrations

Harvest integrates seamlessly with a wide range of tools, including project management software like Asana and Trello, accounting software like QuickBooks and Xero, communication tools like Slack, and file storage services like Google Drive and Dropbox.

Payment Integration

Harvest supports payment gateways like PayPal and Stripe, allowing clients to pay invoices electronically. It also tracks payments and shows details of each payment, helping in managing revenue and outstanding balances.

Disadvantages

Manual Timers

One of the biggest downsides is the manual nature of the timers, which can be easy to forget to start or stop, leading to inaccurate data and potentially missed billable hours.

Limited Customization and Features

Harvest lacks advanced customization options for invoicing and reporting. It also does not offer built-in task management features, requiring integration with other tools. The expense tracking options are somewhat basic and lack a multi-step approval process.

No Payroll Integration

Harvest does not offer payroll services or integrations with payroll tools, which can be a significant drawback for businesses needing to streamline payroll processes.

Limited Offline Access

The mobile app functionality can be improved, and there is limited offline access for time tracking in areas with poor internet connectivity.

Reporting Limitations

Not all users can access full reports, and changing an employee’s cost updates all past data, which can mess up historical cost reports. Reports are also not generated in real time, which can hinder immediate adjustments in fast-paced project environments.

Language and Currency Limitations

While Harvest supports multiple currencies, it lacks language options, which can be a barrier for international businesses dealing with clients who prefer invoices in their native language.

Overall, Harvest is well-suited for freelancers, consultants, and small to medium-sized businesses looking for an efficient tool for time tracking, project management, and invoicing, but it may lack some advanced features and integrations that larger businesses or those with more complex needs might require.

Harvest - Comparison with Competitors

Unique Features of Harvest

Time Tracking and Invoicing: Harvest stands out for its seamless integration of time tracking and invoicing. It allows users to generate invoices automatically from tracked time and expenses with just one click, eliminating manual calculations and ensuring accuracy.
Multiple Payment Options: Harvest supports various online payment options, including PayPal, ACH, and Stripe, making it convenient for clients to pay invoices. It also sends automatic follow-ups for unpaid invoices, helping maintain consistent cash flow.
Detailed Reporting: Harvest provides thorough reports that break down time and expenses by project and client, allowing for profitability analysis and client-specific reporting. This helps in optimizing processes and redistributing resources.
Expense Tracking: The platform allows users to log expenses, attach receipts, and categorize them under specific projects or tasks, which simplifies charging clients for out-of-pocket expenses.

Potential Alternatives and Comparisons

Planful

Planful is a cloud-based FP&A tool that offers AI-powered solutions for financial planning and analysis. Unlike Harvest, Planful focuses more on financial applications and predictive analytics, making it more suitable for businesses needing advanced forecasting and error detection capabilities. Planful’s features, such as Planful Predict, are geared towards larger enterprises with complex financial operations, whereas Harvest is more tailored for time tracking and invoicing.

Workday

Workday integrates AI with its financial management tools, providing real-time data insights and predictive analytics. It is more holistic in its approach, combining financial management with human capital management (HCM), which is not a feature of Harvest. Workday is better suited for large enterprises with extensive customization needs, unlike Harvest which is more straightforward and user-friendly.

Vena Solutions

Vena Solutions uses AI for budgeting and forecasting, particularly appealing to users familiar with Excel. While it offers strong AI capabilities, it lacks the direct integration with time tracking and invoicing that Harvest provides. Vena is more focused on mid-sized businesses and those comfortable with spreadsheet tools.

Anaplan and Pigment

Anaplan and Pigment are also significant players in the AI-driven finance tools category. Anaplan excels in scalability and advanced modeling, which is crucial for large organizations. Pigment, though newer, offers an intuitive interface and collaborative features. However, neither of these tools combines time tracking and invoicing as seamlessly as Harvest does.

Limitations of Harvest

No GPS Functionality: Harvest lacks GPS tracking, which can be a dealbreaker for certain industries.
No Payroll Integration: Harvest does not offer payroll integration, which can be a significant drawback for businesses needing to streamline payroll processes.
Basic Expense Management: The expense tracking features in Harvest are somewhat basic and lack custom expense fields, project cost breakdowns, and a built-in workflow for expense approvals.

In summary, Harvest is an excellent choice for businesses that need a straightforward time tracking and invoicing solution with strong reporting features. However, for more advanced financial planning, forecasting, and payroll integration, alternatives like Planful, Workday, Vena Solutions, Anaplan, or Pigment might be more suitable.

Harvest - Frequently Asked Questions

Frequently Asked Questions about Harvest

What is Harvest and how does it work?

Harvest is a time tracking and invoicing software that helps teams track their work hours and projects efficiently. To use Harvest, you start by setting up your projects, adding tasks, and assigning team members. You can then track time using a manual entry system, a timer, or by integrating with your Google Calendar. The tracked time can be converted into reports and invoices with just a few clicks.

How do I track time using Harvest?

You can track time in Harvest using several methods. You can start and stop a timer directly from the Harvest interface, which is available on both desktop and mobile apps. Additionally, you can manually enter time spent on projects by filling in the project details and the time spent. Harvest also integrates with your calendar, allowing you to track time from your scheduled events.

What integrations does Harvest offer?

Harvest integrates with over 50 popular tools and apps that your team likely uses daily. These integrations include project management tools, calendar apps, and payment gateways like Stripe and PayPal. This makes it easy to track time and generate invoices without disrupting your existing workflow.

How does Harvest handle invoicing?

Harvest automates the invoicing process by converting tracked time and expenses into invoices. You can generate invoices with just a single click, and they can be sent to clients via email. Invoices are itemized automatically based on the tracked hours, and you can view them in web, PDF, or printable versions.

Can I track expenses with Harvest?

Yes, you can track expenses using Harvest. You can add project expenses with just a few clicks and even attach photos of receipts. This feature helps you keep a detailed record of all project-related costs, which can be included in your invoices.

How does Harvest help with budgeting and cost tracking?

Harvest allows you to track your budgets along with your time. You can set project budgets and receive alerts if a project is in danger of running off track. The software also provides detailed reports on project costs, helping you drill down into the expenses associated with each project.

Does Harvest offer any reporting features?

Yes, Harvest generates detailed reports that provide insights into your budgets, time spent, team capacity, and expenses. These reports help you visualize project progress, track internal costs, and make informed decisions about your projects.

Can managers approve and modify timesheets in Harvest?

Managers can approve timesheets, but they cannot directly modify them. If a timesheet requires changes, managers can email the relevant employee to request the necessary adjustments. However, it would be more convenient if managers could make changes directly to avoid back-and-forth revisions.

Does Harvest offer any notifications or alerts for budget limits or overtime?

Harvest does not automatically notify you when you are approaching your budget limit on a project or when you are going above your allotted time. It also does not automatically calculate overtime, which can be a drawback for organizations that need to comply with labor laws and regulations regarding extra pay for overtime hours.

Is GPS tracking available in Harvest?

No, Harvest does not offer GPS tracking. This could be a significant limitation for businesses that need to verify the location of their field workers.

Harvest - Conclusion and Recommendation

Final Assessment of Harvest in the Finance Tools Category

Harvest, available at https://www.getharvest.com, is a versatile and user-friendly time tracking, invoicing, and expense management tool that is particularly well-suited for freelancers, consultants, and small to medium-sized businesses.

Key Benefits

User-Friendly Interface: Harvest boasts an intuitive and clean interface that makes it easy for new users to get started. The minimalistic design ensures a minimal learning curve, allowing users to quickly begin tracking time, generating invoices, and managing expenses.
Comprehensive Integrations: Harvest integrates seamlessly with over 50 tools, including project management software like Asana and Trello, accounting software such as QuickBooks and Xero, and communication tools like Slack and Microsoft Teams. These integrations automate financial data flow, simplify invoicing, and reduce manual data entry errors.
Time Tracking and Invoicing: The platform allows users to start and stop timers easily, categorize time entries by project or client, and generate professional-looking invoices automatically populated with logged time entries. It also supports recurring and retainer invoices, as well as tracking payments directly within the platform.
Expense Tracking: Harvest enables users to log expenses, attach receipts, and categorize these expenses under specific projects or tasks. This feature integrates well with time tracking and invoicing, simplifying the process of charging clients for out-of-pocket expenses.

Who Would Benefit Most

Harvest is ideal for:

Freelancers and Consultants: The tool’s simplicity and comprehensive features make it perfect for solo professionals who need to track time, generate invoices, and manage expenses efficiently.
Small to Medium-Sized Businesses: These businesses can benefit from Harvest’s user-friendly interface, extensive integrations, and automated financial management processes, which help streamline operations and maintain accurate billing.

Limitations

While Harvest is excellent for its target audience, it does have some limitations:

Lack of Advanced Features: Larger businesses or those requiring extensive customization, advanced project management, or team scheduling and collaboration features may find Harvest too basic. It also lacks payroll integration and built-in communication tools.
Cost: The per-user pricing model can become costly for larger teams, making it less competitive compared to some other time tracking tools.

Overall Recommendation

Harvest is an excellent choice for freelancers, consultants, and small to medium-sized businesses seeking a straightforward, efficient, and integrated time tracking and invoicing solution. Its ease of use, comprehensive integrations, and automated financial management features make it a valuable tool for streamlining operations and improving financial accuracy.

However, larger enterprises or businesses with complex needs may need to consider other options that offer more advanced features and integrations. For those who fit within Harvest’s target audience, the platform provides a solid foundation for managing time, expenses, and invoicing, making it a highly recommended tool.