Firm Management
2019 Review of TPS Software Time and Billing
TPS is a practice management/time and billing application designed specifically for accounting professionals. Best suited for small to mid-sized firms, TPS also offers excellent client management capability, along with good project management.
Mar. 15, 2019
From the 2019 review of time & billing management systems.
TPS is a practice management/time and billing application designed specifically for accounting professionals. Best suited for small to mid-sized firms, TPS also offers excellent client management capability, along with good project management.
TPS is available as on-premise application, but has recently released a cloud-based application, TPS Cloud Axis. Cloud Axis is available in four editions, including a free version ideal for startup accounting firms or sole practitioners. TPS also offers a mobile app that supports remote time entry. New features found in TPS include improved program loading time, a payment transfer option, and the addition of a Client Quantities report and due date calendar. For those that sign up for the free version of TPS, the account will be created by TPS, and they will send you an email once the account is created. Once an account is created, users can utilize the wizard to setup information such as employees, work codes, clients, and firm details in the system.
TPS offers easy system integration, with a toolbar at the top of the screen that provide quick access to program functions. Users can easily import their current client list from Microsoft Outlook or QuickBooks for a quicker setup process. Users can also utilize the list to categorize all of their clients using icons. Currently, TPS can track up to 20 different rate levels for each employee.
Users can enter time manually in TPS by selecting the client, work code, and then the appropriate number of hours worked. A running total of hours entered is displayed at the bottom of the screen, and users can choose to utilize the Outlook style calendar displayed to the left of the screen in order to enter time. A stop watch timer is also included in the application for automatic time recording.
TPS uses Microsoft Word to create client invoices, giving users the ability to create custom invoices as desired. A variety of bill types are available in TPS including Quick Bill, Detail Bill, or Progress Bill, with Work in Progress billing (WIP), available as well.
Prior to billing clients, users can access all unbilled entries that provide details such as client name, YTD billed, YTD markup, and other information. Users can choose to bill only specific items, or bill all items that need to be billed. Markups can also be added to any billing total prior to processing the final version of the bill. There is also an option to bill individual clients, or simply choose to bill all clients. Once the invoice is complete, users can view it on screen in Word, where it can be edited further, if necessary. Invoices can be emailed directly to clients from the invoice screen or printed for mailing. TPS also includes an option to setup recurring invoices for clients that are billed a standard amount on a regular basis.
TPS offers more than 300 standard reports with its on-premise version of the product. All reports include drill-down capability, so underlying data will always be available to view. Standard reports available include employee productivity reports, firm billing realization reports, and top ten billings by client. Users can use Crystal Reports for further customization. All TPS reports can also be exported to a variety of file formats including Microsoft Word and Excel, CSV, XML, RTF, and RPT. Users can also save any report as a PDF if desired.
TPS integrates with Microsoft Office applications, and the Ultimate version of Cloud Axis also includes a link to both QuickBooks and TaxCycle.
TPS offers a variety of help and support options including FAQs, various videos, and access to TPS downloads. Users can also access client training and support access as well. Support options include a user forum, email, and telephone support. For those interested in Axis Cloud, the free version only includes access to the user forum, with support options increasing with the version purchased. Implementation training is free, with other training options available.
The introduction of TPS Axis Cloud allows those interested to choose from two deployment options. Axis Cloud is available in four versions; Startup, which is free, Entrepreneur, which is $10.00 per month, Pro, which is $15.00 per month, and Ultimate, which is $20.00 per month. With the exception of the free version, all other versions include unlimited licenses. The on-site version of TPS is currently priced at $450.00 for the first seat license, with subsequent licenses running $205.00 each. It’s important to note that TPS on-site licenses are for the number of employees whose time is actively tracked.