We use Standard Time for the Labor side. We set up new projects with our Sold time durations per phase from D-Tools Labor by Phase report. Installers, input time spent per phase via Palm Tungsten C handhelds and sync over the lan at the office, frequently. It's near real time, Time tracking.
http://www.stdtime.com/features.htm
The Projects Page summerizes all "Tasks" = Phases, as users sync.
Other Time like Drive Time is included in full reports by Client + Project for the big picture.
Significant Product Cost discrepancies are reported from Accounting to PMs and Cost data is updated in the Project, so it is right the next time you quote it.