Every good accountant and tax professional knows that there is more to their business than filling in boxes on a website and pressing ‘send’ to file annual tax returns for their clients.

“Each client is different,” tax industry professionals will tell you – and they are right. But there is also a common theme. Whether that client is an individual, a business (of varied size), or a non-profit organization with a complicated structure, they all want the best service and all want taxation issues taken care of efficiently, accurately, and at a cost that fairly reflects the work spent on the job at hand.

Why a tax professional needs to accurately track time

Many tax professionals offer other services beyond standard annual tax filing: estate and trust tax preparation, audits, unfiled returns and back taxes, and charitable gift giving. Individuals can require assistance with financing, home mortgages and bank loans. There is retirement planning and elder care planning  to be considered.

Accountants know that this kind of service takes more time than one 30-minute meeting with a client.

Launching a business? You will need a tax professional.  You will also need to think about bookkeeping, payroll services, benefit plans and cash flow management. There might be a merger, acquisition, liquidation and reorganization.

Finance & tax professionals need to show customers how they spend their time

All of this takes time and busy businesses need to know where its resources are being used. Importantly, for tax professionals, its is crucial to be able to show clients exactly how much time is being spent on their needs and how and why they are being billed. Transparency and information is beneficial for everyone.

Timewatch customers include certified public accountants with just a handful employees and a few hundred clients to large organizations that deal with billion dollar customers.

What is important to all of them is to know how much time they spend on tax preparation, financial planning, and consulting services. They also want to be able to present this information to clients as required – even on an  Excel spreadsheet, if requested.

Tax professionals get help from our timesheet systems

One new customer is using Time®, our timesheet software that lets users track time in whatever way they prefer: on a PC, Mac, phone, tablet and even from within Outlook. The timesheet entry is so intuitive and easy to learn that no training was required.

Time-saving features include instant search, import-from-calendar, and can post appointments and emails from Outlook. Typically, our timesheets save employees between one and three hours per week and pay for themselves in minutes.

This means increased efficiency for tax professionals, money saved by customers on bills and tax payments, and more opportunity for busy accountants to spend time growing their own business.

That is a return we can all agree on.