BS1 Professional Time Billing is a free time billing and accounting software. Accounting modules available include Accounts Payable, Accounts Receivable, General Ledger, Inventory, Time Billing and Sales Analysis software, etc. The package comes with source code in Delphi. Charging of time is as per a stop watch available. A time calculator also is available. The hourly rate charged is based on the task type or from an optional custom rate for the task. You can select an application through the drop down list. It brings up the four most used buttons. For example, customers, jobs, time-sheets and reports are the four buttons that appear on time billing toolbar. Priority and due dates can be used to list client project/jobs. Project leaders may be assigned to jobs and the tasks which make up the jobs. The task level assignments for individual employees could be made.
User-defined financial statements can be created through a simple set-up process. GL account totals and inventory totals can be viewed on screen. You can drill-down to original source transactions. Multi-currency transactions can be handled to facilitate international purchasing and billing. Payables and receivables are tracked separately for each currency. When calculating the GL revenues and expenses, they are converted to domestic currency automatically. You are able to track gain or loss due to exchange rate fluctuations. The interface is straightforward. However, to make you understand the software easily, the tool comes with sample data to provide a quick overview and an optional getting started wizard. The wizard sets up common GL accounts. These can be changed, deleted, or added to later. This is a very good product.