Overview of TimeSolv
TimeSolv is a comprehensive, cloud-based time tracking, billing, and project management solution designed to cater to the needs of various professional service firms, including law firms, accounting firms, consultants, architects, and freelancers. Since its inception in 1999, TimeSolv has evolved to provide a robust and user-friendly platform that streamlines financial workflows, enhances productivity, and ensures accurate and efficient billing processes.
Key Features and Functionality
Time Tracking
TimeSolv offers advanced time tracking capabilities, allowing users to record every minute of billable time with 100% accuracy. Users can utilize automatic timers or manual time entry, and the system supports tracking time from multiple devices, including PCs, Macs, iPhones, and Android devices. The ability to run multiple timers simultaneously and switch between tasks seamlessly ensures that no billable minutes are lost.
Billing and Invoicing
The platform is equipped with powerful invoicing tools, enabling users to generate invoices quickly and easily from customizable templates. Invoices can be prepared in batches, and edits or adjustments can be made directly from the draft bill. TimeSolv also supports scheduled invoicing for recurring payment plans and integrates with credit card payment processing services like LawPay and TimeSolvPay, allowing clients to pay invoices online.
Expense Tracking
TimeSolv includes robust expense tracking features, enabling users to log and manage expenses efficiently. This ensures that all expenses are accounted for and can be easily invoiced to clients, helping to maximize revenue.
Project Management
The project management module integrates billing functionality with time tracking and auto task-assigning, allowing users to track billable hours and budget in real-time. Users can create time budgets for tasks, set time limits, and receive warnings if time entries exceed the budgeted hours for a project.
Financial Reporting and Analytics
TimeSolv provides over 31 in-depth reporting options and analytics dashboards to help users track key performance indicators (KPIs), eliminate inefficiencies, and spot unbilled hours. These reporting tools offer insights into the health and profitability of the business.
Integrations
TimeSolv seamlessly integrates with various third-party software, including QuickBooks (both desktop and online), Xero Accounting, AccountEdge, Microsoft 365, Dropbox, and NetDocuments. This integration enables smooth data transfers and enhances the overall efficiency of financial and document management processes.
Document Management
The platform offers secure document storage and management capabilities, integrating with cloud-based document management solutions like Dropbox and NetDocuments. This allows users to store, organize, and access documents effortlessly.
Client Portal
TimeSolv features a secure client portal where clients can view and pay their invoices, check the status of ongoing work, review transaction history, and replenish trust funds. This enhances client satisfaction and streamlines payment processes.
Trust Accounting
The system includes trust accounting tools that accurately track trust accounts, automatically pay invoices, and request replenishment, ensuring compliance with trust accounting regulations.
Mobile and Desktop Accessibility
TimeSolv is accessible via mobile apps for iOS and Android, as well as a desktop application, allowing users to enter time and expense information even without an internet connection. Data is synced automatically when the connection is reestablished.
Support and Training
TimeSolv provides extensive support through telephone training, tutorials, and customer assistance to ensure a smooth onboarding process. Regular updates are also handled seamlessly to keep the system current and efficient.
Conclusion
In summary, TimeSolv is a powerful and versatile solution that helps professional service firms manage their time, expenses, and billing processes with accuracy and efficiency, while also providing robust reporting, analytics, and integration capabilities to enhance overall business performance.