08 Mar Time Is Money: Billing For Your Time The Easy Way
If you are in a service based business your time is your most valuable commodity. Making sure you charge for your time is of the utmost importance to your bottom line. To make sure you are actually recouping and earning all that you should here are a few easy steps:
- Keep a calendar or log of your time. This can be a quick reference if you need to look back.
- Find a time tracking software that easily integrates with your billing software. If it is a hassle you won’t do it.
- BE CONSISTENT! A habit will form over time.
If you are a QuickBooks user here is what we would recommend. For time tracking use the app Minute7
. It is an affordable app at $4 per month per user, and it is web based. It allows you, and all your team members, to track time by customer, add detailed notes of your activity, and select billing rates as well as if the time is billable or not. The app syncs with your QuickBooks file so if you add billing items, customers or employees they sync with the app. Your team has all the lists as well but no access to your accounting files. Minute 7 is also accessible from anywhere you have web access. Smart phones and Ipads make time entry easy on the go. For long descriptions on those small keyboards just use the voice to text option to dictate your billing and time tracking descriptions.