Should You Bill for Client Communication?

Should You Bill for Client Communication?

Bojan Radojičić
September 30, 2022

Charging clients for communication is somewhat of controversial business practice. On one hand, you want to bill for the time you invest into all client-related issues. On the other hand, most clients won’t be happy to pay for something they feel should be free.

How Much Does Client Communication Cost a Business?

The answer to this question can be observed from two angles:

  • How much money are you losing?
  • How does the communication impact your business otherwise?

The Monetary Angle

Any serious business understands that employee time is one of the, if not the most important resource. A couple of hours of work for a small client requires years of education.

Hence, losing this valuable resource and not charging for the service doesn’t sound like a good idea. That is why many employers are struggling when thinking of a strategy for how to bill a client for a phone call, meeting, or email exchange.

Other Issues

Communication with clients is a complex issue. Namely, when an employee is suddenly asked about the state of a project (or any other issue), their workflow is interrupted.

In other words, the employee has to stop working on their current task. Then, they have to give the client a clear answer, which sometimes requires interrupting another employee or manager. Finally, they need to re-focus on their work.

In other words, when you’re figuring out how or whether to bill for time spent on communication, you should also consider the real time these conversations take away from your team.

Should You Charge for All Client Communication?

This is another element of the discussion you should keep in mind. Is all client communication billable by nature?

The clients will certainly have an opinion on this. If you’d ask them, however, they’d probably say you shouldn’t bill for time spent on communication at all.

That is why you need to consider both sides of the conversation. There is a good rule regarding this conundrum. Namely, you should consider whether the communication benefits the client or your company.

For example, your team will spend a lot of time on initial negotiations. To put it differently, the meetings and calls before the project are benefiting you, as you’re securing a job.

On the other hand, the clients will often initiate conversation during the project. They’ll ask for information, make changes, and request additional services.

The time spent on this type of communication benefits the client. Additionally, it takes away employee time that could have been spent on the project.

This makes things seem extremely easy, right? You should bill for the time that benefits the client and refer from billing in the other cases. However, things aren’t as straightforward as they may seem.

The Importance Issue

Not all clients are equal. Moreover, many companies get most of their profit from a selected handful of projects. On the other hand, some clients can cost the business more than they bring.

This is an important distinction you should make. If a client is putting you in the red, but still requires constant communication, you should definitely look into how to bill hours spent on that communication.

If this doesn’t break you even, you could even think about terminating the collaboration with them. This way you will be making more money with less work. in other words, your productivity will increase.

On the other hand, the bigger clients, who bring a lot of profit to your company, should be treated differently.

That is to say, you want to refrain from charging for communication. Or, at least, consider the fee you’ll be charging them.

How to Know How Much to Bill?

If you are starting to bill for time spent in communication, you need to set rules for yourself.

There are multiple options for this practice, and we are going to examine several of them

Charging the full price – you may decide to charge for time spent on communication by your standard fees. The positive side of this practice is that you’ll definitely be making more money.

Additionally, you will discourage the clients from taking away your team’s time. Of course, you will need to inform the clients of this policy. We advise doing so before starting the project.

This is where we get to the negative. Many clients will reconsider working with you if you charge the full price for communication.

Special fees – this is a more popular solution for the clients. Many law firms, for example, charge their clients half the usual fee for communication.

A hybrid deal – finally, you can decide to allow your clients some free communication time. The details of these deals need to be defined upfront.

Here is an example: your new client has two meetings and five phone calls that won’t be charged. Once the communication goes over these limits, you will charge them.

As you can see, the two latter cases give some leeway to the clients, but still set serious boundaries. Thus, you won’t be losing (too much) time, and the client will still get some free communication.

The Importance of Being Accurate

None of the abovementioned systems will work to your benefit if you don’t have a reliable time tracking solution.

Namely, the clients, no matter their trust in you, will want to know what they’re being charged for. That is why, for example, an appendix to the bill can be a great idea.

The appendix should account for all activities done for a client during working on their projects. This includes communication.

Additionally, the hourly fees included in the appendix will keep your reputation as clean as ever.

Conclusion

Billing for the time dedicated to communication is an issue that doesn’t have a universal answer. That is why you should pay attention to

  • Your company’s status in the industry
  • The clients and their expectations
  • Abovementioned pros and cons for every specific case

Before deciding whether to bill a client for communication.

 

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Bojan Radojičić

Bojan Radojicic, Master Degree in Economics, is a financial performance consultant with more than 15 years of experience. He is responsible for adding value services based on innovative solutions.

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10 Best macOS Apps for Productivity in 2022

10 Best macOS Apps for Productivity in 2022

September 27, 2022

It seems like we are all chasing maximum productivity. However, our results often aren’t as satisfactory as we’d like them to be.

Simply put, the modern world comes to us with a plethora of different distractions. Going around them is often extremely difficult. And you should strive to make your life easier.

Some of these distractions come from the outside. Meetings, switching from one task to another, lengthy phone calls, for example. Others, on the other hand, can be solved with just a little help.

There are numerous mac productivity apps on the market at the moment. We have found the best macOS solutions.

Time Analytics

Are you unaware of where your time is going? This is a common issue for all computer users.

Those social media apps and websites are very distracting, after all. That is why the first of our productivity apps for mac is Time Analytics, a time management app.

Both teams and individuals can use Time Analytics.

This app’s primary function is to track work time. However, you can also use it to track different categories during the day.

Timesheets lie at the key features of this productivity software for Mac. Yet, they aren’t the only way to measure time. Namely, the app allows its users to track time manually and automatically. The application will consequently transform all information into timesheet entries.

The users can start tracking their time with a single click. Authorized users create projects and tasks within them. Additionally, all projects and tasks are connected to the clients you’re working for.

Once you click on a task, it starts measuring time and allocating it to the client. Since we all make mistakes, you can also create manual entries.

Finally, you can make changes to the logs as well.

The employers and authorized employees can create a template that requires specific data. This means the entries cannot be submitted without all important information. This information should reflect the most important KPIs your business is interested in.

Time Analytics makes scheduling and tracking paid time off extremely simple. Namely, the employees can request their vacations and other types of PTO in advance. Their managers can easily approve the leaves and avoid any scheduling issues.

Why is Time Analytics the Best Productive App for Mac?

The reports Time Analytics delivers are extremely in-depth. This means they’re not simple reports on who spent how much time doing a certain task.

Time Analytics reports are varied and give you useful information about the state of your business.

This means you’ll be able to make informed decisions based on clear, visual, and easy-to-understand reports.

For example, you will be able to see whether you should charge some of your clients more.

Simply put, you’ll be able to account for all billable hours and expenses related to their projects.

Going with this example, we need to talk about another interesting feature of this mac app.

Namely, you can set up every employee’s hourly fee on any task. Additionally, the employees themselves can change this fee for the tasks where you’ve settled on different ways to charge.

Features

  • Time tracking – let your team track the time they spend on tasks as simple as possible. There are two available options – an automatic clock or manual entries. however, for the best accuracy, the users can combine the two.
  • More accurate estimates – Time Analytics will help you learn how long a certain type of task and project takes. This means you’ll be able to create more accurate assessments for future projects of similar scope.
  • Time off requests and tracking – let your employees make time off requests simply through the app. Their managers can approve them equally as easily. Plan the shift upfront and avoid scheduling issues.
  • Reports – the platform’s tracking system is very simple. Yet, even though the reports can be filled in a few minutes a day, the reports you can get through the app are truly helpful. You will be able to make important business decisions, like whether you should charge for client communication or not.
  • Billing and invoices – the app offers to export the data your employees log through Time Analytics into Excel. Then, create useful appendices for your invoices. Each appendix will show exactly what you’ve done for each client, and how much it costs. This will increase transparency and your business’s reputation.

Pricing

Time Analytics review

Grammarly

Grammarly

Grammarly is one of the best productivity apps for writers. The application automatically checks the grammar and wording of your work.

You can use Grammarly online, or download it as a Word add-in. Both versions work by pointing you to both faulty grammar and rephrasing options.

The app’s developers were aware that there’s no such thing as a perfect language app. Thus, they have left the final decision to the writers.

In other words, you can choose whether you want to use the app’s suggestions or not. You can go through the text once for maximum productivity.

The Premium version offers many other benefits. For example, you’ll be able to rewrite entire sentences and make sure your tone is appropriate for the piece’s intention.

Features

  • Grammar and spelling – check whether everything in your writing is correctly written. This is especially important for non-native English writers
  • Sentence rewrites – rewrite full sentences to better fit your text
  • Citations – automatically check and format citations

Pricing

Grammarly

 

Todoist

Todoist

Todoist is a mac app that combines the functions of a task manager and a to-do list. The app allows its users to create a productive daily routine that covers all their tasks, current and recurring.

This mac app has a great advantage of customizability. Namely, you can create tasks and simply check them off once you’re done. However, you can also assign each task (or some of them) due dates and priority levels.

In other words, you can organize your days in advance, and have a detailed overview at a glance. Reminders are another great optional feature, as they make sure an important long-term task doesn’t get lost.

Features

  • Tasks and subtasks – create tasks and divide them for easier work and higher productivity
  • Reminders – never move the due date again due to forgotten tasks
  • Task priority – don’t get distracted by low-priority tasks and get into the meat of things

Pricing

Todoist

1Password

1Password

1Password is the most popular password manager app. The reason for this is the fact that it removes the unnecessary hassle when it comes to remembering and entering passwords. In other words, it increases productivity significantly.

You can use this mac app both for personal and business devices. That is to say, you can protect your and your family’s computers, but also keep all sensitive information regarding your business safe.

The application generates strong passwords and keeps them in one safe place. Hence, you will be able to log in to any account with a single click.

The employers using this app will have the opportunity to see just how safe their business information is. Namely, 1Password has the option of checking the company’s security in all fields from a single dashboard.

Features

  • Password generation – generate strong passwords for all your accounts
  • Simple login – log in through a single click
  • Company safety – make sure all elements of your work are up to code

Pricing

1Password

Alfred

Alfred

Alfred is a mac application that offers many efficiency-related benefits. It allows its users to find and launch apps and files through a simple search system.

The app allows you to understand the time you spend on your device. However, this isn’t the only benefit. You can also create keywords and hotkeys, hence customizing the way your device acts.

You will obtain a clear overview of your activity history. This is a great way to identify issues with your device usage and nip them in the bud by creating new routines or editing the already existing ones.

Features

  • Launch apps – get quick access to all apps you have on your mac device
  • Activity history – learn where your mistakes come from and prevent them in the future
  • Customization – create your own rules that make sure your device works just like you want it

Pricing

Alfred

Freedom

Freedom

Freedom is a great distraction-blocking app for mac. Its strength lies in simultaneous blocking on different devices.

To put it differently, you can block a specific website or app on one device. Then, the app will be blocked on all your devices for the time you’ve set.

You can create different blocklists depending on what you’re trying to achieve. Additionally, you can schedule distraction-free sessions beforehand.

We understand that there are some people who will jump through all sorts of hoops to get to a distracting site. Hence, Freedom has a lockdown feature. This option prevents you from making any changes to the session for as long as it lasts.

Key Features

  • Multiple devices – forget about your phone and tablet distracting you while you need to focus
  • Scheduling – create a routine where you don’t have to set up a productivity session each time
  • Blocklists – adjust which apps and websites need to be off for maximum productivity

Pricing

Freedom

Omnifocus

Omnifocus

Omnifocus is a mac productivity app that focuses on task management. If you are a busy professional looking for a way to get on top of an extremely chaotic schedule, it may be just the app for you.

The application captures all activities on mac devices and creates a comprehensive overview. In other words, you’ll never wonder what was the last thing or what’s next on your list.

The application synchronizes on all devices. This makes it great for remote employees or people constantly on the road.

All information you add to the app can be edited to contain due dates and tags. Additionally, you can create projects, tasks, and sub-tasks, prioritize and go through them with ease.

Features

  • Activity overview – never worry about losing your place in your work
  • Synchronization – synchronize activity on all devices. Perfect for remote or hybrid teams
  • Tagging – add tags and due dates to different tasks to organize and prioritize

Pricing

omnifocus

CleanMyMac X

CleanMyMac X

CleanMyMac X is one of the best cleaning apps for mac. This means the app detects and deletes junk files. In other words, your device will be faster without all the unnecessary apps and files.

The application isn’t a simple cleaner either. Namely, it also detects malware and removes it, making sure your device remains healthy.

Do you want to make sure all the performances of your device are in top-notch condition? This mac app will allow you to do just so. That is to say, CleanMyMac X will delete old versions of apps and conduct automatic, yet safe updates.

Features

  • Cleaning – remove all the elements that are slowing down your mac device
  • Updates – automatically update all applications and system files
  • Safety – search your entire system for malware and get rid of it

Pricing

CleanMyMac X

Hazel

Hazel

Hazel is a smart organization tool for mac devices. This app is folder-based. In other words, it organizes your new files, marks their place in your computer, and makes sure you never lose anything important.

For example, this app can automatically name new files depending on their type and different patterns. If you want to stay up-to-date with how things are going, there is also an alert option.

The application is simple to use and can be a lifesaver for those of us who cannot organize our electronic data.

Besides automatic changes, Hazel can indicate older files by color-coding them. This is a successful, yet discreet way to get your attention. Hence, it is one of the best productivity apps.

Features

  • Content tracking – know exactly when the content of a folder has been changed, and how
  • File naming – let the app name new files and dedicate your time to more productive tasks
  • Notifications – even if you miss a change in a folder, you will be alerted

Pricing

Hazel

TextExpander

TextExpander

Our final choice for the best mac productivity apps is TextExpander. We chose this application due to its usefulness. Namely, this application reduces the time needed to type repetitive text.

You only need to start typing to get several suggestions. Then, you can choose whichever fits your needs at the moment and edit the details.

Many studies show that emails take up a significant portion of many employees’ days. This mac application prevents this from happening. Employees can now dedicate their time to more productive activities.

The application also synchronizes between devices. This means you can save all your shortcuts once and have them readily available anywhere.

Features

  • Shortcuts – create custom shortcuts that help you write exactly what you want, quicker
  • Suggestions – a list of suggestions will show up even if you haven’t created shortcuts
  • Multiple languages – The app is available in 8 languages at the moment

Pricing

TextExpander

Conclusion

Many of us simply blink and realize our day is almost done. Yet, there are emails to check, files to save, reports to write, etc.

Fortunately, there are many different apps out there that can help you find your way through the noise.

Whether it’s a time tracking, needing to create to do lists, or a project management tool, we should use all the tools available.

There is a huge number of apps in the app store. Hence, it’s can be difficult to find the best productivity apps for mac. Simply put, the choice is too wide to be sure you’re using the best tool.

We found the 10 best mac productivity apps. See which ones you could use, and go ahead and give them a try.

 

Start managing your time

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Join thousands of companies that grow with Time Analytics

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10 Best macOS Apps for Productivity in 2024

10 Best macOS Apps for Productivity in 2024

September 27, 2022

It seems like we are all chasing maximum productivity. However, our results often aren’t as satisfactory as we’d like them to be.

Simply put, the modern world comes to us with a plethora of different distractions. Going around them is often extremely difficult. And you should strive to make your life easier.

Some of these distractions come from the outside. Meetings, switching from one task to another, lengthy phone calls, for example. Others, on the other hand, can be solved with just a little help.

There are numerous mac productivity apps on the market at the moment. We have found the best macOS solutions.

Time Analytics

Are you unaware of where your time is going? This is a common issue for all computer users.

Those social media apps and websites are very distracting, after all. That is why the first of our productivity apps for mac is Time Analytics, a time management app.

Both teams and individuals can use Time Analytics.

This app’s primary function is to track work time. However, you can also use it to track different categories during the day.

Timesheets lie at the key features of this productivity software for Mac. Yet, they aren’t the only way to measure time. Namely, the app allows its users to track time manually and automatically. The application will consequently transform all information into timesheet entries.

The users can start tracking their time with a single click. Authorized users create projects and tasks within them. Additionally, all projects and tasks are connected to the clients you’re working for.

Once you click on a task, it starts measuring time and allocating it to the client. Since we all make mistakes, you can also create manual entries.

Finally, you can make changes to the logs as well.

The employers and authorized employees can create a template that requires specific data. This means the entries cannot be submitted without all important information. This information should reflect the most important KPIs your business is interested in.

Time Analytics makes scheduling and tracking paid time off extremely simple. Namely, the employees can request their vacations and other types of PTO in advance. Their managers can easily approve the leaves and avoid any scheduling issues.

Why is Time Analytics the Best Productive App for Mac?

The reports Time Analytics delivers are extremely in-depth. This means they’re not simple reports on who spent how much time doing a certain task.

Time Analytics reports are varied and give you useful information about the state of your business.

This means you’ll be able to make informed decisions based on clear, visual, and easy-to-understand reports.

For example, you will be able to see whether you should charge some of your clients more.

Simply put, you’ll be able to account for all billable hours and expenses related to their projects.

Going with this example, we need to talk about another interesting feature of this mac app.

Namely, you can set up every employee’s hourly fee on any task. Additionally, the employees themselves can change this fee for the tasks where you’ve settled on different ways to charge.

Features

  • Time tracking – let your team track the time they spend on tasks as simple as possible. There are two available options – an automatic clock or manual entries. however, for the best accuracy, the users can combine the two.
  • More accurate estimates – Time Analytics will help you learn how long a certain type of task and project takes. This means you’ll be able to create more accurate assessments for future projects of similar scope.
  • Time off requests and tracking – let your employees make time off requests simply through the app. Their managers can approve them equally as easily. Plan the shift upfront and avoid scheduling issues.
  • Reports – the platform’s tracking system is very simple. Yet, even though the reports can be filled in a few minutes a day, the reports you can get through the app are truly helpful. You will be able to make important business decisions, like whether you should charge for client communication or not.
  • Billing and invoices – the app offers to export the data your employees log through Time Analytics into Excel. Then, create useful appendices for your invoices. Each appendix will show exactly what you’ve done for each client, and how much it costs. This will increase transparency and your business’s reputation.

Grammarly

Grammarly is one of the best productivity apps for writers. The application automatically checks the grammar and wording of your work.

You can use Grammarly online, or download it as a Word add-in. Both versions work by pointing you to both faulty grammar and rephrasing options.

The app’s developers were aware that there’s no such thing as a perfect language app. Thus, they have left the final decision to the writers.

In other words, you can choose whether you want to use the app’s suggestions or not. You can go through the text once for maximum productivity.

The Premium version offers many other benefits. For example, you’ll be able to rewrite entire sentences and make sure your tone is appropriate for the piece’s intention.

Features

  • Grammar and spelling – check whether everything in your writing is correctly written. This is especially important for non-native English writers
  • Sentence rewrites – rewrite full sentences to better fit your text
  • Citations – automatically check and format citations

Todoist

Todoist is a mac app that combines the functions of a task manager and a to-do list. The app allows its users to create a productive daily routine that covers all their tasks, current and recurring.

This mac app has a great advantage of customizability. Namely, you can create tasks and simply check them off once you’re done. However, you can also assign each task (or some of them) due dates and priority levels.

In other words, you can organize your days in advance, and have a detailed overview at a glance. Reminders are another great optional feature, as they make sure an important long-term task doesn’t get lost.

Features

  • Tasks and subtasks – create tasks and divide them for easier work and higher productivity
  • Reminders – never move the due date again due to forgotten tasks
  • Task priority – don’t get distracted by low-priority tasks and get into the meat of things

1Password

1Password is the most popular password manager app. The reason for this is the fact that it removes the unnecessary hassle when it comes to remembering and entering passwords. In other words, it increases productivity significantly.

You can use this mac app both for personal and business devices. That is to say, you can protect your and your family’s computers, but also keep all sensitive information regarding your business safe.

The application generates strong passwords and keeps them in one safe place. Hence, you will be able to log in to any account with a single click.

The employers using this app will have the opportunity to see just how safe their business information is. Namely, 1Password has the option of checking the company’s security in all fields from a single dashboard.

Features

  • Password generation – generate strong passwords for all your accounts
  • Simple login – log in through a single click
  • Company safety – make sure all elements of your work are up to code

Alfred

Alfred is a mac application that offers many efficiency-related benefits. It allows its users to find and launch apps and files through a simple search system.

The app allows you to understand the time you spend on your device. However, this isn’t the only benefit. You can also create keywords and hotkeys, hence customizing the way your device acts.

You will obtain a clear overview of your activity history. This is a great way to identify issues with your device usage and nip them in the bud by creating new routines or editing the already existing ones.

Features

  • Launch apps – get quick access to all apps you have on your mac device
  • Activity history – learn where your mistakes come from and prevent them in the future
  • Customization – create your own rules that make sure your device works just like you want it

Freedom is a great distraction-blocking app for mac. Its strength lies in simultaneous blocking on different devices.

To put it differently, you can block a specific website or app on one device. Then, the app will be blocked on all your devices for the time you’ve set.

You can create different blocklists depending on what you’re trying to achieve. Additionally, you can schedule distraction-free sessions beforehand.

We understand that there are some people who will jump through all sorts of hoops to get to a distracting site. Hence, Freedom has a lockdown feature. This option prevents you from making any changes to the session for as long as it lasts.

Key Features

  • Multiple devices – forget about your phone and tablet distracting you while you need to focus
  • Scheduling – create a routine where you don’t have to set up a productivity session each time
  • Blocklists – adjust which apps and websites need to be off for maximum productivity

Omnifocus

Omnifocus is a mac productivity app that focuses on task management. If you are a busy professional looking for a way to get on top of an extremely chaotic schedule, it may be just the app for you.

The application captures all activities on mac devices and creates a comprehensive overview. In other words, you’ll never wonder what was the last thing or what’s next on your list.

The application synchronizes on all devices. This makes it great for remote employees or people constantly on the road.

All information you add to the app can be edited to contain due dates and tags. Additionally, you can create projects, tasks, and sub-tasks, prioritize and go through them with ease.

Features

  • Activity overview – never worry about losing your place in your work
  • Synchronization – synchronize activity on all devices. Perfect for remote or hybrid teams
  • Tagging – add tags and due dates to different tasks to organize and prioritize

CleanMyMac X

CleanMyMac X is one of the best cleaning apps for mac. This means the app detects and deletes junk files. In other words, your device will be faster without all the unnecessary apps and files.

The application isn’t a simple cleaner either. Namely, it also detects malware and removes it, making sure your device remains healthy.

Do you want to make sure all the performances of your device are in top-notch condition? This mac app will allow you to do just so. That is to say, CleanMyMac X will delete old versions of apps and conduct automatic, yet safe updates.

Features

  • Cleaning – remove all the elements that are slowing down your mac device
  • Updates – automatically update all applications and system files
  • Safety – search your entire system for malware and get rid of it

Hazel

Hazel is a smart organization tool for mac devices. This app is folder-based. In other words, it organizes your new files, marks their place in your computer, and makes sure you never lose anything important.

For example, this app can automatically name new files depending on their type and different patterns. If you want to stay up-to-date with how things are going, there is also an alert option.

The application is simple to use and can be a lifesaver for those of us who cannot organize our electronic data.

Besides automatic changes, Hazel can indicate older files by color-coding them. This is a successful, yet discreet way to get your attention. Hence, it is one of the best productivity apps.

Features

  • Content tracking – know exactly when the content of a folder has been changed, and how
  • File naming – let the app name new files and dedicate your time to more productive tasks
  • Notifications – even if you miss a change in a folder, you will be alerted

TextExpander

Our final choice for the best mac productivity apps is TextExpander. We chose this application due to its usefulness. Namely, this application reduces the time needed to type repetitive text.

You only need to start typing to get several suggestions. Then, you can choose whichever fits your needs at the moment and edit the details.

Many studies show that emails take up a significant portion of many employees’ days. This mac application prevents this from happening. Employees can now dedicate their time to more productive activities.

The application also synchronizes between devices. This means you can save all your shortcuts once and have them readily available anywhere.

Features

  • Shortcuts – create custom shortcuts that help you write exactly what you want, quicker
  • Suggestions – a list of suggestions will show up even if you haven’t created shortcuts
  • Multiple languages – The app is available in 8 languages at the moment

Conclusion

Many of us simply blink and realize our day is almost done. Yet, there are emails to check, files to save, reports to write, etc.

Fortunately, there are many different apps out there that can help you find your way through the noise.

Whether it’s a time tracking, needing to create to do lists, or a project management tool, we should use all the tools available.

There is a huge number of apps in the app store. Hence, it’s can be difficult to find the best productivity apps for mac. Simply put, the choice is too wide to be sure you’re using the best tool.

We found the 10 best mac productivity apps. See which ones you could use, and go ahead and give them a try.

Join thousands of companies that grow with Time Analytics

WTS
Finexepertiza
ASW
BIB
Arcadius
Fidelis
Miras Managment
Zabriskie studio
10 Tips to Increase Billable Hours on Projects

10 Tips to Increase Billable Hours on Projects

September 26, 2022

Last year our twenty consultants recorded 9.120 non-billable hours.

Plus we always have “billable work” that is actually not billed to the client for different reasons.

The question is: how much money we left on the table? A lot, I’d say.

Still, when we went into details, we learned some lessons. Here is how you can better manage your billable time.

1. Define the Exact Scope of Your Work.

A comprehensive agreement with the client is the first step.

To avoid any misunderstanding when it comes to billing, you need to define the activities that go into billable time well in advance

In this way, you create more awareness of what client gets from your service.

Of course, the scope of work should be defined through the letter of engagement or the contract.

2. Specify What is Not Included in the Scope, too.

Even though you have defined the activities within the scope, the clients will sometimes simply assume that „similar“ work falls within the definition of the scope of work.

For example, we do tax returns for a company, as defined in the contract with the client.

However, certain clients’ employees should pay a personal tax on extra income. This is a separate job, but from the client’s point of view, their understanding is that it falls within the scope of work, even though it relates to the personal tax of individual employees. And the client’s opinion should always be respected, right?

Therefore, we have introduced the practice of decisively specifying the activities that don’t fall into the scope of work to avoid any misunderstanding and potential free work.

This way, the client is aware of what they need to pay, and we don’t waste our time debating them. Meanwhile, we are also maintaining a good business relationship with them.

3. Define When Your Service Ends.

It used to happen to us to do work for a client for a flat fee.

Of course, once we deliver the service to the client (i.e. due diligence), it’s perfectly normal for the client to have questions.

Yet, if these questions go on and on, our actual billable rate on that project will drop.

That is why you should clearly define when the service ends. This is especially important when you’re engaged on a specific project, and you’re not insured by invoicing every billable minute to the client.

Based on my experience, it’s a good practice to define what our scope of work after project delivery entails. For example – 2 meetings, 5 phone calls, etc.

This way you’ll also be achieving a psychological effect, as the client will perceive that there are certain limitations in the use of services.

You should also agree with the client that all new engagements should be considered new ones.

4. Make Sure that the Client Understands What You Do for Them

Things written on paper are one thing, the client’s understanding of what you actually do for them is something completely different. Many clients will sign the contract without even looking at your scope of work, even if it’s clearly stated.

That is why it is important to make sure that the client understands the final output of the service entails.

In this way, we ensure that our billable work is invoiced in the expected volume.

5. Increase Transparency in Time Billing

The clients like seeing what you’ve done for them. this is especially important if you are dealing with billable rate-based projects.

Therefore, it is always good to create an evidence of the time billed, which you deliver to the client.

We recommend that each invoice should contain an appendix with a task list and billable hours.

6. Use an Easy System to Track Billable Hours

To achieve billable hours optimization, your team must track them per project using a time tracking tool. Hence, it is recommended to introduce a simple system to track billable and non-billable hours.

With excellent time reporting you will be able to:

  • Get a clear view of all billable tasks and hours for the client
  • Keep track of how much the service costs you
  • Track gross profit for each project
  • Send the client a transparent record of billable hours
  • Notice the tasks that are taking more time than planned

7. Avoid Free Consultations as Much as Possible.

The practice of giving free advice in anticipation of future benefits isn’t good.

It’s a great way to increase tour non-billable hours! And the working hours are limited, aren’t they?

Of course, if it lends certainty that you’ll establish a good deal, and with a qualified client, it’s entirely different.

You must not lose one thing out of your sight.

Your time costs.

Here is how to measure your investment of free non-billable time:

By tracking the time we spend on free advice, after a certain time, we can determine ROI on this kind of investment.

For example, after 6 months, you can extract the data from the system regarding the time you haven’t charged for (free advice) and the later income from those clients.

When you compare the total income with the total time (non-billable + billable), you’ll be able to determine whether a client has a satisfactory return or not.

8. Listen to Your Clients More.

Only by understanding the problems and challenges your clients face you can create space for more billable hours.

The clients are often not even aware of their problems. Hence, if we understand their business well, we can build an awareness of the client’s pains.

9. Invest in a System for Qualifying New Clients.

You probably have clients you spend a lot of time on, and still, generate a relatively small income.

That is why it’s important to assess the billing experience you can expect with new engagements in advance.

When you receive an inquiry from a new client, you can get reports from the time tracking system for similar engagements in the past.

10. Target Team Billability Utilization

Each employee should have their targeted time utilization. The utilization is usually calculated as the ratio of billable and total working hours. Tracking the hours in the system automatically creates a utilization report.

If you achieve a utilization of 65 to 75% at the company level, your utilization level is good.

The utilization also depends on the employee’s position in the company.

Seniors usually have the highest utilization (+70%), since they are most engaged in projects.

On the other hand, managers and directors spend a lot of time on, for example, the implementation of the company’s strategy. Hence, it’s not great for them to have a high billable utilization level.

 

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6 Tips on how to Increase Accounting Fees for the Client? A Step-by-Step Guide

6 Tips on how to Increase Accounting Fees for the Client? A Step-by-Step Guide

September 21, 2022

We manage over 100 clients in our accounting practice. We have always struggled with fee increase proposals. Why is that? We were simply afraid of the outcome, that is, losing the client.

Yet, sometimes it is better to lose an insufficiently profitable client, in order to create space for new, profitable clients.

It is impossible for all the clients in accounting practice to be equally profitable.

All of us as accountants face the syndrome of a client who consumes a lot of our resources (such as time), but their fee doesn’t match the services.

Here is how you can increase these clients’ fees.

ow to raise prices on clients

1. Track the Hours You Spend on Clients

The key is in tracking what we get from the client compared to the resource we have invested in their project.

Time is the key resource in our services.

Therefore, to have a basis for the decision of the clients whose fees should increase, we must monitor the resources and time we have spent on said clients.

Here’s an example:

Client A: monthly retainer fee – $1000, total hours spent per month 25

Client B: monthly retainer fee – $800, total hours spent per month 8

It’s clear that Client A is a good candidate for a fee increase because we only make $40 per hour with them. meanwhile, we make $100 per hour with Client B.

2. Identify Profitability per Client

Sometimes we aren’t even aware of the profitability per client.

You shouldn’t risk too much by increasing the fee to those clients who bring a large profit to the company or have a large profit margin. You should do your best to keep them, especially if they’re fee-sensitive.

Hence, the focus should be on insufficiently profitable clients when considering increasing fees.

Profitability can only be calculated if you track hours per client. Here is how to calculate your profit:

Client Revenue –  Client Cost (hours spent x pay rate)

Client revenue is a well-known category – it’s simply the amount you’ve billed to a client.

For cost calculation, you’ll need information about the accountant’s pay rate (this is also a known category – it is calculated by dividing the gross salary by the accountant’s monthly hours).

We get the cost when we multiply the number of hours of all accountants working for the client by their pay rate.

If we have a simple time tracking tool, it’ll automatically calculate the cost per client. Additionally, it’s possible to include the overhead rate besides the pay rate.

This way, we will get net profit instead of gross profit, which is an even better indicator.

3. Analyze all Tasks Done for an Unprofitable Client

Once you have identified a candidate for a fee increase, we can proceed to the next step.

It is very important for us to have an answer to the client’s question about the price increase.

Hence, it is important to have a good proof. The list of all the tasks with time spent on them can be one of the arguments.

This is how we can transparently show our engagement to the client, and that we should be paid more for that engagement.

All the tasks should be listed within an hourly structure.

There are two key questions we are looking to answer:

  • Are the tasks within the scope of engagement?
  • Is an unusually large amount of time spent on a task within the scope?

If you determine that you’re providing a service that isn’t specifically defined by the scope of engagement, that can be a great opportunity to present the reasons for the price increase to the client.
If you spend a lot of time on a specific task, and can’t reduce it internally, it’s clear that you’ll need to communicate to the client that you must increase the price.

4. Desirable Conditions for a Fee Increase

The first condition has been detailed above. Therefore, a candidate for a fee increase is a client with an insufficient profitability level.

Here are the other conditions. They are not mandatory but are important from the aspect of certainty that the client will accept the fee increase

  • The Client Getting the Fee Increase Isn’t Fee-sensitive

If the client is fee sensitive, them accepting the increase is highly unlikely. For example, these are the clients who have asked for discounts or objected to billing for additional services in the past.

This is why you need to have transparent arguments on why the fee is increasing.

  • The Client Is Satisfied with Your Service

Whether a client will accept the price increase or not depends largely on whether they’re a satisfied customer.

If there were instances where the client wasn’t satisfied with your accountant’s work, there is a high probability that they will not accept a fee increase. Therefore, we suggest ensuring the client is satisfied with the service, so they’re ready for a fee increase.

  • You’ve Worked for the Client for a While Without Fee Increases

If you haven’t changed your prices in years, you should definitely take that as a price increase factor. Considering the inflation level, your prices should be aligned with it.

5. How Much Should We Increase the Price?

Let us return to the example above.

Client A has an actual billing rate of $40 per hour, while Client B has $100 per hour.

The company average is $60.

The conclusion is that if we want to ensure an average at the company level, we need to adjust the client’s fee so that the monthly retainer ensures an average of $60 per hour.

So, instead of a retainer of $1000 per month, the price should be:

25 hours x 60 = $1500

However, you should keep in mind that by increasing fees you should also ensure the desired margin. That is why we must have records on monitoring the labor costs per client.

In some cases, the hourly rate will be lower – $30 for example – and it can be managed by the accountants with the minimum pay rate, so the profit margin will be high.

6. Communicate the Fee Increase Proposal

Once you’ve selected the candidates for the fee increase, you’ll need to present the increase plan to those clients.

During the negotiations, you should have all the arguments with you:

  • A full list of tasks that were finished in the previous period accompanied by the number of hours
  • Activities beyond the scope of engagement, and many hours go into those tasks
  • The instances that required an increase in the workload for the client
  • The increase in the number of transactions with the client
  • How many more hours we are spending due to the increase in the volume of transactions

The manner and form of communicating the price increase are crucial.

When it comes to larger clients and those which could be fee sensitive, you should organize a meeting

You should never prefer informing the clients about the planned fee increases via email.

 

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5 Reasons to Replace Excel Timesheets With a Time Tracking System?

5 Reasons to Replace Excel Timesheets With a Time Tracking System?

September 19, 2022

1. Avoid too Much Manual Work

Whether you are using Excel, Google Sheets, or another timesheet tool, you and your team are left with many manual tasks

  • Time entering
  • Copying the data from one sheet to another to get reports
  • Sorting columns and rows to make the reports clear
  • Adding up the time of different team members to get the total time spent on a project
  • Keeping and manipulating a large number of timesheet files on your hard drive

Therefore, a lot of manual work and transferring data from one sheet to another is necessary for all analyses, calculations, and invoicing.

On the other hand, the timesheet system has more options available.

  • You can monitor the time
  • You can find a pre-defined task and simply click a button to activate the running timer. Once you’re done, click the Stop button and the time will be logged automatically
  • For quicker entries there are also the options of creating recurring tasks, recently used entries, and similar
  • There is an option to copy (duplicate the entries).
  • You can follow the time entries for all team members and projects by day with a single click.
  • There is no need for manual hour calculation for salary calculation, invoicing, and analyses needs

Having to manage employee Excel timesheets is an obligation that takes a lot of time. In any professional service company, time is the most important resource. That is to say, wasting time on timesheet management represents wasting time.

2. Avoid Complicated Time Entries

Tools like Excel don’t allow time entries in a standardized format. For example, if you work on a task for 35 minutes, you need to enter 0.62 hours in the field. In other words, formatting the entries and printouts isn’t always easy.

Time tracking tools make the entry process much simpler:

  • If you choose the manual time entering option, you have multiple format choices: 00:35, 35min, and similar
  • You can start a timer for a task you’ve entered earlier
  • You can pause tracking and continue it once you’re back to it with a single click

3. Visualization and Review

A lot of columns and rows in excel are too ugly.

It’s always better to replace them with interactive diagrams and graphics.

Time tracking tools allow reviews for selected periods. You only have to choose the report you want to see and click the “Last week” button to get a visual representation of the time structure and fluctuation for last week.

The Live dashboard feature enables you to track KPIs on the company level, which is impossible through Excel.

A click can give you beautiful graphs showing the hour structure per team member, client, and project.

4. Automation

Automated Allocation of Costs or Revenues to Project.

With Excel, there is no option to integrate the pay rate and billing rate to tasks in order to track costs and revenues for the project.

In contrast, with the time tracking tools, you can define the pay rate and billing rate for each employee, so the system will calculate income and labor costs on its own.

Mistakes due to Manual Entries

The possibility of entering the wrong time due to controls and limitations is much smaller with time tracking tools.

Also, the “helicopter view” makes finding where the error occurred much easier.

Integrations

The Chrome extension enables direct time entry in all applications you are working on.

Time tracking tools have numerous integrations. For example, you can integrate with Google Calendar, Outlook, different communication tools like Slack, and finally project management tools like Asana, Monday, or Trello.

Integrations with accounting tools, such as QuickBooks and Xero are also very important.

5. Reporting

You can create various reports in Excel. However, these reports can only be used for basic needs, and include a lot of manual work.

With time tracking systems, there is a large number of reports generated with a single click, such as

  • Time utilization report
  • Billable hours vs total hours per team member or clients
  • Project revenues, costs, and profit
  • Total billable hours for a client per task
  • Time off hours’ report
  • And much more

You can usually export all reports from time tracking tools into Excel or PDF if you want additional analyses.

Finally, you can set the time tracking tools to send you automatic periodic reports by email.

6. Collaboration

Excel by nature lacks the flexibility needed for collaboration between team members.

With time tracking tools, there is usually the possibility to divide the roles in the company. This means you’ll be able to define the project and team managers. U time tacking alatima obično postoji mogućnost podele uloga u kompaniji. To znači da se mogu definisati menadžeri projekta i timova.

This division allows the managers to track only their team members and their hours, as well as their clients and their hours.

The managers can assign tasks to their team members, thus enabling better use of resources company-wide.

7. Reminders

It’s impossible to create reminders in Excel or other types of timesheets.

Time tracking systems usually have several types of reminders:

Time tracking systemi obično imaju više tipova remindersa:

  • Reminder for when you forget to enter the time expected from you
  • Reminder for when you forget to turn off the running timer that is still tracking time
  • Reminders for when you forget to start tracking a planned task

8. Costs

All the advantages of these tools compared to Excel should be observed through the lens of pricing as well. If you need to set aside $10-15k for your 10 team members, that is a pretty significant investment, regardless of the mentioned advantages.

Time Analytics’ price of $3.99 per user per month certainly justifies the introduction of the time tracking tool.

On the other hand, we should note that there are free time tracking tools on the market, that offer limited possibilities. They can be a great choice for small teams.

 

 

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7 Reasons to Replace Excel Timesheets With a Time Tracking System?

7 Reasons to Replace Excel Timesheets With a Time Tracking System?

September 19, 2022

1. Avoid too Much Manual Work

Whether you are using Excel, Google Sheets, or another timesheet tool, you and your team are left with many manual tasks

  • Time entering
  • Copying the data from one sheet to another to get reports
  • Sorting columns and rows to make the reports clear
  • Adding up the time of different team members to get the total time spent on a project
  • Keeping and manipulating a large number of timesheet files on your hard drive

Therefore, a lot of manual work and transferring data from one sheet to another is necessary for all analyses, calculations, and invoicing.

On the other hand, the timesheet system has more options available.

  • You can monitor the time
  • You can find a pre-defined task and simply click a button to activate the running timer. Once you’re done, click the Stop button and the time will be logged automatically
  • For quicker entries there are also the options of creating recurring tasks, recently used entries, and similar
  • There is an option to copy (duplicate the entries).
  • You can follow the time entries for all team members and projects by day with a single click.
  • There is no need for manual hour calculation for salary calculation, invoicing, and analyses needs

Having to manage employee Excel timesheets is an obligation that takes a lot of time. In any professional service company, time is the most important resource. That is to say, wasting time on timesheet management represents wasting time.

2. Avoid Complicated Time Entries

Tools like Excel don’t allow time entries in a standardized format. For example, if you work on a task for 35 minutes, you need to enter 0.62 hours in the field. In other words, formatting the entries and printouts isn’t always easy.

Time tracking tools make the entry process much simpler:

  • If you choose the manual time entering option, you have multiple format choices: 00:35, 35min, and similar
  • You can start a timer for a task you’ve entered earlier
  • You can pause tracking and continue it once you’re back to it with a single click

3. Visualization and Review

A lot of columns and rows in excel are too ugly.

It’s always better to replace them with interactive diagrams and graphics.

Time tracking tools allow reviews for selected periods. You only have to choose the report you want to see and click the “Last week” button to get a visual representation of the time structure and fluctuation for last week.

The Live dashboard feature enables you to track KPIs on the company level, which is impossible through Excel.

A click can give you beautiful graphs showing the hour structure per team member, client, and project.

4. Automation

Automated Allocation of Costs or Revenues to Project.

With Excel, there is no option to integrate the pay rate and billing rate to tasks in order to track costs and revenues for the project.

In contrast, with the time tracking tools, you can define the pay rate and billing rate for each employee, so the system will calculate income and labor costs on its own.

Mistakes due to Manual Entries

The possibility of entering the wrong time due to controls and limitations is much smaller with time tracking tools.

Also, the “helicopter view” makes finding where the error occurred much easier.

Integrations

The Chrome extension enables direct time entry in all applications you are working on.

Time tracking tools have numerous integrations. For example, you can integrate with Google Calendar, Outlook, different communication tools like Slack, and finally project management tools like Asana, Monday, or Trello.

Integrations with accounting tools, such as QuickBooks and Xero are also very important.

5. Reporting

You can create various reports in Excel. However, these reports can only be used for basic needs, and include a lot of manual work.

With time tracking systems, there is a large number of reports generated with a single click, such as

  • Time utilization report
  • Billable hours vs total hours per team member or clients
  • Project revenues, costs, and profit
  • Total billable hours for a client per task
  • Time off hours’ report
  • And much more

You can usually export all reports from time tracking tools into Excel or PDF if you want additional analyses.

Finally, you can set the time tracking tools to send you automatic periodic reports by email.

6. Reminders

It’s impossible to create reminders in Excel or other types of timesheets.

Time tracking systems usually have several types of reminders:

  • Reminder for when you forget to enter the time expected from you
  • Reminder for when you forget to turn off the running timer that is still tracking time
  • Reminders for when you forget to start tracking a planned task

7. Costs

All the advantages of these tools compared to Excel should be observed through the lens of pricing as well. If you need to set aside $10-15k for your 10 team members, that is a pretty significant investment, regardless of the mentioned advantages.

Time Analytics’ price of $3.99 per user per month certainly justifies the introduction of the time tracking tool.

On the other hand, we should note that there are free time tracking tools on the market, that offer limited possibilities. They can be a great choice for small teams.

 

 

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4 Tips to Avoid Free Work for Clients and Bill More Hours?

4 Tips to Avoid Free Work for Clients and Bill More Hours?

September 13, 2022

When we are giving free advice to a (potential) client, there is usually a background motive.

This motive is the expectation or hopes that it might result in a good engagement

In sales, that syndrome is called “hopium-opium”.

Does giving free advice always pay off?

If you were to track all the time we spent on free advice, you would see that it is a huge waste of resources.

And what do we get in return?

Here is how to use free work more efficiently and with a good return.

1. Qualify Your Clients for Free Advice

Free advice should be avoided. However, if it seems like you can win a client through it, you should keep the following in mind:

New Clients

Make a list of the criteria needed for giving free advice. The answer to the following questions can help you with that:

  • Is it a company within your target group (does it have the ideal client profile)?
  • Do I have a firm belief that the client will hire our company in the near future?
  • Is the client confident that our services are solving an important problem for them?
  • Are we talking to a company that is usually willing to pay for services like ours?

Existing Clients

The clients will often contact our team members and use their time for consultations that aren’t explicitly agreed upon within the engagement.

If it is an existing client, the question of why are you working for free arises.

When it comes to the existing clients, you need to determine all the hours spent on them that weren’t billed.

Then, you need to communicate to the client that this type of work needs to be invoiced.

If this practice isn’t going smoothly, or you are afraid that you may lose the client, here is the analysis you can do.

If you firmly believe that you’ve “bought” the client long-term with additional free advice, you should have an assessment of the total income and expenditures for that client for the current work.

For example, you have a monthly retainer of $1000. The client works with two of your employees whose hourly rate is $20 on average, and they spend a total of 20 hours per month (15 of those hours are related to the agreed project and 5 hours to additional, uncharged, work). Hence, the cost is $400, and the gross profit is $600, or 60%.

If the average gross profit at the company level is, for example, 40%, this kind of investment in non-billable hours will pay off. However, if you have clients below the average gross margin of the company, you should reconsider working with them.

In the bottom line, this approach leads to a significant improvement in profitability.

2. Limit Free Work Hours

Regardless of whether the client is qualified for you to do free work for them, you should definitely be rational in determining this.

  • Limit the free (non-billable) hours on a monthly basis (per client or at the company level)
  • Track time to make sure the limit hasn’t been exceeded.
  • Limit the number of monthly non-billable client-related hours for each employee

3. Track Hours on Free Work

Peter Drucker said: You Can’t Manage What You Don’t Measure

It is important to establish a simple time tracking system and to track both billable and non-billable hours.

Then, you can see the performances and the effects of spending the resource of time from various reports.

4. Define Internal Policy on Free Work.

Once you look at all these factors practically, you’ll deduce it’s good to have a policy for free and non-billable work for the clients.

The policy should explicitly define:

  • The cases that prohibit any free work
  • The types of work that can be done for free
  • The team members eligible for giving free advice
  • The maximum number of hours that can be spent on an individual client
  • Time tracking or timesheet filling instructions
  • Define the approval for free work

 

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How to Write a Service Invoice With a Transparent Appendix?

How to Write a Service Invoice With a Transparent Appendix?

September 12, 2022

Invoicing can significantly impact client satisfaction.

From the client’s point of view, it is very important to receive an invoice that is clear, transparent, and follows the services they’ve agreed upon.

The key elements of an invoice are the technical elements, the accounting elements, and the appendix.

The appendix can especially increase the transparency of your work.

The Accounting Elements of the Invoice

Each invoice should contain a list of activities you’ve done for the client, the quantity (i.e. the number of work hours), the price, and the total sum you’re charging.

Additionally, this includes the tax part – sales tax or VAT – as well as the part that was paid in advance.

When it comes to invoicing services, there are mainly two service types:

  • Services with an agreed flat fee
  • Services with an agreed hourly rate

The services that are billed by the hour can sometimes be debatable for the client. hence, it is important to transparently show exactly what has been done and the hours spent on it.

It turned out the best practice was that the invoice itself states the project, as well as the number of hours. The appendix, on the other hand, should contain a list of work tasks that were performed with a specification of the work hours.

Here is an example of the accounting part of the invoice that charges per working hour.

The invoice must be accurate and transparent.

How to Ensure the Accuracy of the Invoice?

When it comes to services billed by the hour, a simple and reliable billable time tracking system is necessary. All employees should be able to enter hours on pre-defined tasks for a specific client.

Most of these systems have a billable rates feature. Thus, the contractors can enter their own billable rates for higher accuracy.

Detailed reports for each client can then be extracted from the system. They show work tasks, hours, and rates, so that the accountable person can review all tasks for more accurate invoicing. This is an important step, as you can see all the tasks that were done for the client here. Hence, missing billable hours are impossible.

Additionally, these reports can be used as an appendix to the invoices.

If you’re invoicing a flat fee, a standardized list of services is necessary. You also must match the list of services on the invoice to what is written in the client’s contract.

How to Ensure Transparency?

In order to achieve complete transparency and client satisfaction, it is always good for the invoice to have an appendix, which will contain the details of each service listed in the invoice.

Include Technical Elements

Company Details

Here you should enter the name of the invoicing company, its address, contact information, email, and tax ID.

Client Details

The next item on your service invoice should be the client details. These include the client’s name and contact details. That is to say – name, business address, phone number, and email

Entering the client’s contact information ensures that the invoice ends up in the right hands.

Invoice Number

All invoices you issue should also include a clearly listed invoice number. Each invoice number should be unique, as it represents a reference to the client. If you ever need to review an invoice with a client. Additionally, the invoice numbers will make your bookkeeping process easier. It is up to you to decide the format of the invoice number, as it can consist of letters, numbers, or a combination.

Dates in the Invoice

When billing, these two dates are the most important:

  • Invoice publication date
  • Due date

The invoice publication date is usually the date when the service was completed. The end date of service represents the day when the service was sent and confirmed by the client.

You need to be careful not to make a mistake if the invoice includes VAT or sales tax. Namely, if the service was performed in January and the invoice was issued in March, the tax authorities can ask you to pay the VAT in January.

The Due Date

The due date is important because you’ll be able to track customer billing.

Payment Details

This is where you should show payment methods and payment details.

The best course of action is to include as many payment options as your business allows, as the clients will be glad to see you are giving them some flexibility. Some of the options you should think about are online payments, cash, credit card, check, bank deposits, etc.

A payment link can also be beneficial, and you should consider including one.

Invoice Layout

The invoice’s appearance is very important for company branding. You should include the company logo and an adequate design to the invoice.

The positioning of the payment details is important, and this element should be highly visible.

Invoice Appendix

The appendix can contain service details, including:

  • A list of the employees who were involved in the project and their working hours
  • A list of completed projects and hours per project
  • A detailed list of all work tasks performed for the client, including the hours worked on each task

We are giving you an example of an appendix to the abovementioned accounting part:

You can download an invoice model with the appendix in Excel here.

 

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