Agencies who want to use exact time have to directly enter or go back and fix errors after it rounds up to the nearest quarter hour. If the program calculated the exact time from the start and stop time, that would increase accuracy and efficiency. You could still maintain a rounding option for those who want to the closest quarter hour.
It does this today. If you tab down into the Hours field, or put your mouse in the field, it will show exact time. If you click on the double-clock icon, that is meant to round to the nearest 15.