![]() ![]() Meeting with vendors when not specifically client-related.Team meetings and internal communications.Meeting with prospective new clients and consultants before signing a contract.Developing and sending proposals to new clients.Reviewing phone, text, or email messages.In order to find out how efficiently your business is running and how effectively time is being used, track time spent on the following activities: Non-billable work would be any work performed by you or your team that, even if related to a billable task, cannot be billed to the client. These are tasks for which your firm will be compensated – that you can put on the client’s invoice and that are clearly identified in your contract with the client. Make sure everyone on your team is clear about the difference between billable and non-billable hours and that it is clearly outlined in the contract with your clients. Generally the following tasks fall under the “billable” category:īillable work includes all tasks directly related to the client’s project and can be charged as such. Billable vs Non-Billable Time on a Project ![]() Rather than using time-based billing, you may use value-based billing, or project-based billing. In order to be profitable using either of these, even though you are not billing by the hour, you should track your time in order to know how many hours can be spent on the project to remain profitable. billable time. Once you identify the difference, you and your team can see where time is being wasted on tasks and then focus on using your time more efficiently. Tracking time also can highlight changes in how you schedule jobs and possibly in adjusting who on your team is responsible for certain tasks. Like any new habit, you will need to work a bit harder in the beginning for time tracking to become automatic. If you charge a flat fee, how do you know what to charge if you don’t know how much time your team will spend on the job? Tracking your time helps you identify how much time is being spent on non-billable vs. Whether you charge hourly or use a flat fee, time tracking is a key process you need to implement. ![]() Do you track your time? Or have you wondered “why bother”? Do you really know how much billable vs non-billable time is spent by you and your team? Why Track Your Time ![]()
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