I did this. I set up a form on my website for my kids to fill out. It includes check-offs for how many days they practiced, what they practiced, etc. Then the information is emailed to me in a spreadsheet. It makes it very easy at conferences and report card time to have all the information in one place.
The biggest difficulty that I have run in to is the kids who do not have internet access at home. I generally have them fill in their charts at the beginning of lessons while students are assembling their instruments.
I find it to be just as successful as written practice records. Good luck!