Proper tracking of billable hours got HM-Tilipalvelu’s accounting work profitable

HM-Tilipalvelu Oy is an eight-person accounting firm operating in Finland Their focus is on financial administration services for small and medium-sized companies especially. They brought Koho PSA under their roof in October 2015, and it quickly became a deeply rooted tool. The time tracking tool is one of HM-Tilipalvelu’s most favourite for keeping billable hours in check and their accounting work profitable.

No accounting work for free – all billable hours securely on an invoice

“Our work routines are much easier thanks to Koho PSA’s work lists. Our accountants can switch time tracking from one customer to another with just one click. Koho PSA’s timer helps us pinpoint how much time customers’ tasks take. We can also determine whether our invoicing is on the right level. There were a few cases where we noticed that the actual workload was higher than what was estimated. This led us to agree on a new rate with the customer. Our accounting business is profitable when the workload matches the billable hours”, tells office manager Margit Toivonen.

According to Toivonen, the transformation from what was before is significant. Before their work hours were checked from an actual clock. At the end of a workday or week, hours were summed up and put on an invoice. Tracking their work hours sometimes took several hours, and the accuracy was not on the same level as it is now. Nowadays Koho PSA is always open on the background, and the amount of hours left untracked is miniscule. Customer calls also can be easily timed for the right company. This helps to log even the most surprising events for the right customer.

Both the accountant and the payroll clerk dealing with a certain customer can see the actions made for them in the system. When the accountant logs the actions and hours accurately, both the invoicing process and the payroll clerk’s work get easier. As all the work hours are always accurate, the invoice can be sent at any time.

Reports and to-do lists are in active use at HM-Tilipalvelu

“With the help of all the reports available in Koho PSA, we can track our employee’s productivity and the time used for training. We can also easily get the yearly statistics on customer accounts and send them to our governing body”, tells Margit Toivonen.

HM-Tilipalvelut actively uses work orders also. “Work orders are used e.g. as reminders when a customer is yet to deliver a document, and thus the work cannot be completed. In the tasks we can write notes to keep the rest of the team on track. This feature is also an excellent reminder for sending taxes. We can easily check from work orders if any action has been made.”

Updating HM-Tilipalvelu’s systems

When Margit Toivonen first got to know Koho PSA, she was convinced by the agility and user-friendliness of the software. Also the reporting features seemed to be modern and enticing. HM-Tilipalvelu ended up changing their invoicing software along with the PSA. Toivonen says that learning to use and synchronizing two systems simultaneously was a bit tough at first. The investment paid off and nowadays many work phases are more effortless.

“Our whole personnel started to use Koho PSA immediately. At first, it took a bit of time and effort. Once we got all our customers’ information in Koho PSA and using it was routine work, the operating costs proved to be optimal. While learning a new system requires some extra work at first, we did learn it quite fast. It really helped us to have it in continuous use”, describes Margit Toivonen.

“Also, any time there is an issue, Koho PSA is quick to help. Usually the problem is resolved with a single phone call! We are happy with their fast response time”, rejoices Toivonen.

According to Toivonen’s experience, Koho PSA is suitable not only for accounting firms, but also for any company looking for an easy time tracking tool and to have billable hours securely on an invoice.

“The monthly recurring invoicing is great. This feature would serve well the real estate and property management sector”, she states.