There’s plenty going on these days in bookkeeping and accounting world, with Intuit, the people behind flagship products such as TurboTax, Quickbooks and Mint.
The company is very well known in the self-employed world, with thousands of small businesses as well as their accountants using their financial management solutions. In fact, our very own Miami Beach accounting firm uses Intuit products to provide our customers with all sorts of bookkeeping and accounting services from tax return preparation to financial insights, filing, payroll and more.
The latest news from Intuit is their recent acquisition: TSheets.
It’s known as the leading platform for small businesses to automate time tracking and scheduling. The Saas company and top rated app in more than 100 countries is known for making life easier for employers and the people they hire. When you’re self-employed and use the help of various contractors, typically paid by the hour, it’s extremely important to keep track of their time log since every minute is paid for, unlike a yearly salary that allows more room for downtime.
Cash flow and expenses in general are crucial to small businesses, since owners are typically working with smaller budgets trying to keep a healthy balance between supply and demand.
Self-employed entrepreneurs hire an array of contractors, consultants and freelancers at various times of the year. They may need someone with a specific skill for a short period of time and never do business with them again. Or they may also work with someone on a per-project basis for weeks at a time, but only every four months. Think of designers or photographers that are hired for a website launch or a new campaign. Once they’re projects are done, their hours are sent and invoiced. TSheets allows the small business owner to track their time to ensure accuracy.
TSheets is actually already integrated with Intuit’s small business offering and has the most popular apps on the open platform with over 8,000 stellar reviews online. Gone are the days of tracking time via pen and paper, technology makes it much simpler and streamlined for an accurate way to run payroll. TSheets offers mobile time tracking too, which is ideal for contractors who switch locations. Some of the features include clock-in and clock-out reminders, breaks and even overtime alerts.
For small business owners this solution allows them to know exactly who’s working on what project, at any time of the day.
It’s a real view of their entire workforce. Entrepreneurs can also schedule people by shift or by job and task. All they have to do is drag and drop preferences to keep organized. Besides time tracking and scheduling, TSheets allows users to understand profitability by project which brings in another level of business insight. Our Miami Beach accounting firm learned the Intuit acquisition is set for mid-January.
Whether you use TSheets or not, our Miami Beach accounting firm can help you run the many financial activities or your business. From payroll to tax return to representing you in front of the IRS as well as helping gain more insight for more profitability, MOA Accounting and financial consulting can make a difference in how you run your small business. You can fill out our contact form to let us know what type of services you’ll need, or simply call us for at 305.868.7620. Our Miami Beach accounting firm is open during regular business hours, but if you can’t come in, don’t worry as most of our business is done virtually.