Time Keeping

We all agree that we need a decent system... but that is where the agreement stops! So we have all sorts of software and paper lying around and basically it always falls short of efficiency!

So we were wondering if others could share advice on what works (we have figured out what doesn't work!)

Also, has anyone tried any of the online project management systems? Are they worth buying into?

Thanks in advance.

ps. we operate macs so if it is a software based system, it would need to be mac compatible.