OfficeTools WorkSpace is a locally installed time and billing software for accountants that provides the tools you need to run your tax and accounting practice. It has many useful features, including the ability to set up due date and unprocessed alerts for efficient project tracking. If you need to access the program online, you can purchase the cloud version, OfficeTools Cloud.
With an average rating of 4.5 out of 5 on leading review websites, users appreciate that it has many vital features, like invoicing and document management. However, a major drawback is that you can’t use it for your firm’s bookkeeping unless you integrate it with QuickBooks Online. This thorough OfficeTools WorkSpace review will help you decide if it’s right for you.
Our commitment to writing in-depth and honest reviews aligns with our Fit Small Business editorial policy, which is to provide the best answers to your small business questions. When evaluating each software we review, we apply an internal scoring rubric that encompasses key factors, such as pricing, features, ease of use, and customer support. This approach allows us to present you with meaningful insights and customized recommendations for your small business.
- No free trial or upfront pricing; custom quote needed
- No direct access to your client’s books
- Can’t be used to manage your firm’s bookkeeping tasks unless you connect it to QuickBooks Online
- Accounts payable (A/P) requires integration
- Dashboard displays a vast amount of information which can be overwhelming for new users
OfficeTools WorkSpace Alternatives & Comparison
Are you looking for something else? If you have a small business and need accounting software to manage your books, we recommend checking out our best small business accounting software.
|Integrates with Lacerte Tax
|A bit expensive
|Reportedly easy to use
|Client portal is not that intuitive
|Has an excellent feature set
As of this writing, we found very few recent OfficeTools Workspace reviews. One user appreciates that the program integrates with Lacerte Tax, which happens to be the tax preparation software they are currently using. We also concur that this is a great feature as Lacerte helps in preparing even the most complicated taxes like consolidated returns.
Based on older reviews, we found that it’s reportedly easy to use and that it has many vital features, such as invoicing, project management, and file storage. We believe that it can be user-friendly, but only with adequate training. It’s somewhat complex, and it includes numerous features that require time to master.
Meanwhile, one reviewer complained that OfficeTools Workspace is a bit expensive, especially for small businesses. We can’t attest to this, but we believe the cost might be on the higher side, given the complexity of the program. Also, one user was not impressed with the client portal, explaining that it was not as intuitive as they expected.
Here are OfficeTools Workspace’s ratings on top review websites:
- Capterra: 4.1 out of 5 based on around 200 reviews
- TrustRadius: 5.5 out of 10 based on about reviews
OfficeTools WorkSpace vs Competitors
We compared OfficeTools WorkSpace with our recommended alternatives across the same set of criteria. Check out whether OfficeTools WorkSpace is right for you or if one of our OfficeTools alternatives is a better fit.
OfficeTools WorkSpace Vs Competitors FSB Case Study
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OfficeTools WorkSpace Custom-priced Secondary Series (More faded, in the background, than the primary series)
QuickBooks Online Accountant Free
Jetpack Workflow From $56 per user monthly
Xero Practice Manager $149 per month
OfficeTools WorkSpace came out on top in customer support because there are a lot of ways you can contact the provider for help. Most importantly, you can contact them over the phone and even purchase a premium package for personalized customer service.
We gave OfficeTools Workspace the lowest score for pricing because of its undisclosed pricing information. For very small accounting firms and solo practitioners on a budget, a great free alternative is QuickBooks Online Accountant. You may also consider Jetpack Workflow, which costs only $56 monthly.
OfficeTools WorkSpace doesn’t disclose its pricing information on its website either for the desktop or cloud version, so it didn’t do well in our evaluation. Those who are interested may contact the provider directly to request detailed OfficeTools pricing information or a customized quote. Also, you may sign up for a free trial to see how it works before buying the software.
OfficeTools WorkSpace could have received a better rating if it granted accountants direct access to their client’s financial records, such as a link to each client’s specific bookkeeping login page. It would also be nice if it included a payroll feature without having to integrate with QuickBooks. However, despite these weaknesses, there are still several OfficeTools features that you can use to streamline your workflows.
With OfficeTools WorkSpace, you can store and manage an unlimited number of contacts, including business and personal information and contact details, such as phone number and email address. You can categorize contacts into different types, such as clients or staff.
On the left side of the screen, you’ll find the client listing, and as a client is selected, a tab displays information specific to that client. If you wish to create a new contact, you can do so by simply clicking the Contact button. You can add customizable fields to capture unique information about a client, such as billing preferences or specific tax deductions. You can also import clients from Excel if needed.
The To-Do’s tab in OfficeTools WorkSpace serves as the central hub for managing tasks and responsibilities. You can create tasks by entering task details, such as task names, descriptions, and due dates, and you can assign them to specific team members. To help you easily track tasks, you can filter tasks based on various criteria, like status and assigned team member.
You can use OfficeTools WorkSpace’s integrated document management system to organize all of your digital documents. You can have your clients view, accept, upload, sign, pay, and add their documents to their files automatically, no matter where they are. You also have the option to brand your documents by adding your logo and colors and customizing your URL.
The platform offers a complete time and billing system. You can set work codes and billing rates in WorkSpace to accurately track time and costs. Work codes are administrative and operational activities in a business like accounting, bookkeeping, client meetings, and tax preparation. The software also has a built-in timer that allows you to assign time and costs to projects and work codes in real time.
After tracking time, everything will be reported in the time card. Time card information can be billable to clients, and you can subsequently include them in the invoice. If you prefer to use QuickBooks Online for invoicing, then you can import the time entries from OfficeTools Workspace to QuickBooks.
Your clients have their own dedicated portal where they can conveniently view and pay their invoices. They can also upload important financial documents, such as tax forms and receipts. Conversely, they can also download files provided by the accountant or firm, such as tax returns and financial reports.
Its robust mobile app, available for Android and iOS, allows you to stay connected while on the go. With the Timecards feature, you can capture every billable moment directly from phone calls, emails, and text messages.
You can even create new timecards and use a timer to track your actual work, then attach it to contacts, projects, and work codes. You’ll have complete access to your contacts and calendar, with the ability to create appointments, notes, to-dos, and phone call records, so you have a complete view of any upcoming activities.
OfficeTools Workspace didn’t do well in this category as most of its bookkeeping features are available through a third-party integration. However, it still has a decent set of built-in tools that you can use to manage your own firm’s bookkeeping.
OfficeTools Workspace has built-in A/R management features that help streamline the billing and payment process. The program includes a client billing rate feature, which enables you to specify the billing rates for each client. When it’s time to bill clients, you can select from invoice templates and customize them based on your business needs.
You can send the invoice to your clients via email. Alternatively, as mentioned earlier, your clients can also pay their invoices directly from the client portal. To stay on top of client payments, OfficeTools WorkSpace offers a client billing status feature that lets you track whether clients have paid invoices, have pending payments, or have outstanding balances.
Meanwhile, creating an invoice in OfficeTools Workspace is fairly intuitive, which can be accessed from the billing section as shown in the image below:
Here are the steps for creating an invoice:
- Step 1: Click on the Billing tab at the top of the screen.
- Step 2: Hit the Time button. A list of all of the billable time for a particular client is listed here. This list can be sorted in various ways, including by date, employee name, or project. In the Bill column, check the boxes of the time that you want to bill.
- Step 3: Select the Invoice Now tab.
- Step 4: An “Invoice Now” dialog box will appear, prompting you to select the invoice date and change the status of the invoice to in process, review, or final copy.
We like OfficeTools WorkSpace’s project management tool because it provides a streamlined way to manage and track projects. For instance, you can set up due date alerts so that you or a team member will be notified if a project remains unfinished within a specified number of days before the due date. Also, you can create unprocessed alerts to alert a member that a project remains unprocessed.
Another thing we like is the ability to view time cards associated with a project directly from within the project workspace. This means you can track how much time has been logged for a project easily, helping you determine whether you have exceeded your budget in a certain area.
For more advanced projects, you can use the Worklist/Budget section, which enables you to track budgets and monitor progress until the project is completed. The Worklist/Budget section displays detailed information about assignments, including budgeted hours, actual time tracked, and remaining budget hours.
OfficeTools WorkSpace provides various financial reports to help you better track your firm’s performance. You can run billing statements, which include a detailed breakdown of invoices, payments, and outstanding balances. You can also generate profit and loss reports, A/R reconciliation reports, and billing and work-in-progress (WIP) reconciliation reports.
You’ll also appreciate the billing utilization reports, which allow you to compare billable to tracked hours. This helps you identify who among your clients are billed effectively and who requires special attention.
Abacus Payment Exchange (APX) simplifies your billing by allowing you to process credit card payments and ACH transactions securely from within OfficeTools. APX is Payment Card Industry Data Security Standard (PCI DSS)-compliant, protecting your clients’ sensitive billing data. This is available at a 3% fixed rate, with no hidden fees or long-term contracts.
When integrated with QuickBooks Online, you can sync data associated with all stages of the billing process between OfficeTools WorkSpace and QuickBooks. For instance, you can export time entries, invoices, and payments into QuickBooks Online for general ledger functions or regular billing purposes.
OfficeTools Workspace clinched an average score because the dashboard has a vast amount of information, which may feel overwhelming for new users. However, with enough practice, you’ll appreciate the single-screen user interface (UI) in OfficeTools WorkSpace.
Tabs at the top of the screen offer access to important tasks, such as Calls, Schedule, Projects, Time, Billing, and Documents, for complete document management capability. The screen also displays a list of upcoming tasks, with estimated times to complete each task included. The below image shows the Projects tab, which is described below:
- Client List: View a list of your clients, which is sorted alphabetically. Clicking on their names will take you to their files with more detail.
- Navigation Tabs: Navigate to various sections here, including Contacts, Notes, To-Dos, Calls, Schedule, Projects, Time, Billing, and Documents.
- Work List: This shows action steps related to the client, such as client interview, scan/assemble, input/prep, review, and missing information. You can assign these steps to other members of your team and view the project status and the hours incurred to date.
- Dashboard: The section shows delivery dates, project costs, and estimated fees.
- Missing Info: If there’s any missing info related to a project, it’ll be flagged here.
- Employee Info: Information related to an employee’s tasks is shown in this section.
I awarded OfficeTools WorkSpace a perfect score, as it offers a variety of customer support options, including phone and email support, a searchable knowledge base, multiple webinars, and guides.
Those with more complex issues may want to consider hiring an OfficeTools consultant who can assist with integrating the practice management solutions fully into your firm. They can also help with template development, training and onboarding, and project management. You can find a consultant by calling their toll-free number or filling out a contact form on their website.
Alternatively, you can purchase a premium support plan, which includes unlimited maintenance and product support, 24/5 support for software problems and service requests, and a dedicated support phone line. You’ll also have your own technical account manager with weekly or bi-weekly project calls and yearly onsite visits.
How We Evaluated OfficeTools WorkSpace
15% of Overall Score
We checked not only the initial purchase or subscription fee but also any ongoing costs, such as updates, support, and training.
35% of Overall Score
The core features we wanted to see, directly related to managing your accounting practice, carry the highest weight. This includes features like direct access to your client’s books, client management, time tracking and billing, and task and workflow management.
20% of Overall Score
A good accounting practice management software should also offer fundamental bookkeeping features to support your firm. Some of the essential bookkeeping features we look for include general ledger (GL), A/P, and A/R management.
10% of Overall Score
We recommend an accounting practice management software that your team can quickly learn and use.
10% of Overall Score
Ideally, accounting practice software providers should offer various ways for users to seek support, including phone and email support, self-help guides, and training opportunities.
10% of Overall Score
We checked out online reviews to see if users have positive experiences with the software.
Frequently Asked Questions (FAQs)
OfficeTools Workspace is an accounting practice management software designed to help accounting and tax professionals manage clients and improve their workflows.
OfficeTools Workspace is a locally installed software, but you can also purchase the cloud version, OfficeTools Cloud.
The OfficeTools Workspace pricing information is not publicly disclosed, so you will need to request a quote through the OfficeTools website.
Yes, OfficeTools Workspace integrates with QuickBooks Online, allowing you to sync crucial data, like time logs, invoices, and payments, between the two programs.
OfficeTools WorkSpace is ideal for medium-scale and large accounting firms that need a feature-rich time tracking and billing software with robust project tracking features. With the added benefits of unlimited document storage, due date tracking, and the flexibility to work from anywhere through the mobile app, OfficeTools WorkSpace helps you better manage your clients and improve your accounting practice workflows.