August 12, 2008
WSJ on Time Tracking and Billing Solutions
The Wall Street Journal's Kelly Spors answers a readers question I have a consulting business and, like many professionals, I charge by the hour. However, I have yet to come up with an acceptable means of tracking time and then calculating the charge (time x rate). Any suggestions? and asks Smallbiztechnology.com for help with answering.
Many professionals, believe it or not, still use paper, pen and calculator to keep track of client billable hours. But there are many software programs that provide for easier calculation and billing management.
Most accounting software programs, including Intuit Inc.'s QuickBooks and Microsoft Corp.'s Microsoft Office Accounting, offer client time-tracking features -- at least in some capacity. The programs usually let you enter the amount of time spent with a customer and then calculate a bill based on your hourly rate. Other employees may also be able to access the information, and you can integrate the data with your accounting process. Read the full article here - scroll down a bit.
tags:
billing
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microsoft accounting
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quickbooks
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time
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2 comments
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Comments
#1 posted by TSheets, August 12, 2008 11:00 AM
Another easy to use time tracking solution for small business owners is TSheets.com. With a Google gadget, a Mac widget, Jott.com integration, clock in/out via SMS, and the first iPhone app for tracking your time, there's something for everyone at TSheets.
#2 posted by Brett Owens, August 12, 2008 4:28 PM
Kelly's take on the heavy reliance on manual methods jives with what we see in the marketplace. We are focused on the time tracking segment, and most seem to still track using a pen and paper.
Frustration for the professional seems to arise when their manual notes fail to capture all of the time they know they have worked. You make a good point, Ray, that it makes sense to use the time-tracking features of the accounting software, as these stopwatch type applications integrate into the billing cycle.
One issue we have been working on trying to solve is when the user forgets to start/stop the stopwatch, and has not captured all the time on paper either. This is something that haunts a lot of the folks we work with - I'd love to get your thoughts in this area.
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