Like many we started 2020 with big plans – spend more time with the family, eat healthier, exercise more and really invest time into growing the business. Although COVID was lurking in foreign countries we had yet to feel the impact that was coming our way, and so, we all continued on with business as usual.
Fast forward to May and most have had to pivot from offices and face-to-face meetings to working from home, utilizing tools like Zoom, Webex and Microsoft Teams in order to keep our employees engaged and ensure our clients continue to see value.
With all of this change it’s easy to fall into poor habits as time management and efficiency flies out the window. Since going remote the number of meetings have quadrupled and business hours shifted from 9 to 5 to sun up and sun down.
Is there a loophole? An efficiency secret? Yes there is.
You already know how important it is to keep an accurate record of your time but did you know there are ways to take a few shortcuts that will help you with your timekeeping and client billing?
Turn your meetings into time entries in less than 3-seconds
Google Calendar
Time Tracker created a Chrome App that allows you to sync your calendar meetings with Time Tracker – it’s so simple. All you have to do is click “Add to Chrome”. After that follow the simple step-by-step instructions and you’re ready to go in under five minutes! Utilizing Time Tracker in Google Calendar is extremely convenient.
Here’s how it works:
- Open your Google Calendar and select the entry you wish to sync with Time Tracker
- Within the entry, you will see ‘Time Entry’. Click on this option to add/edit details
- Once you have finished entering details click on ‘Save Time Entry’
This specific event is now a time entry within Time Tracker! The great part is you can do this with any entry in your Google Calendar.
Outlook 365 and Outlook
Many people already use Outlook 365 to schedule their events and manage their emails. Syncing Time Tracker with Outlook 365 and Outlook allows users to convert their Outlook events and emails into valuable time entries with a few clicks of the mouse. Simply download the add-on and you’re ready to begin tracking and capturing your employees and clients time.
Time Tracker with Outlook and Outlook 365 allows you to:
- Automatically save and approve time entries from your employees and contractors for easy payroll and client invoicing
- Time entries will automatically post to your Time Tracker account for your review and approval
- Approved time entries can then be used to generate client invoices
This versatile add-in works with all Time Tracker accounts! Converted entries automatically sync to your central account so that all of your information is easily found in one place.
Easily Track Video Calls
If you use video calling software such as Zoom, Microsoft Teams, or WebEx in the workplace to hold client meetings, it is important to be able to accurately invoice for this time. Time Tracker can be used to track all of your video calls if they are added to your calendar that is already synced with Time Tracker. Tracking all of your calls is extremely easy. All you have to do is follow the steps you would for tracking any other event in your calendar and you’re ready to go!
Accurate Time Tracking is Crucial to Your Business
The importance of precise time tracking is not only important for paying your staff but also for billing of client projects. In fact, it can be the difference in a lucrative business and one that barely has its head above water. Here are several reasons why time tracking for client billing is crucial to your business:
- Avoid undercharging clients – If you underestimate the time it takes to complete a project, you are not as profitable as you could be and in many cases actually losing money. Do not forget that time is a part of operational costs.
- Avoid overcharging clients – Overcharging clients can be just as bad as undercharging, even if you are not doing it on purpose. Charging clients too much for a project will lead to a damaged relationship once the error is uncovered by the client.
- Stay profitable – Whether you charge hourly or not, you are still selling a service in exchange for a certain amount of time. The only way to truly understand if a project is profitable is to know how much time went into it versus the price the client paid. This not only helps you ensure projects are profitable but allows you to give more accurate estimates to potential clients.
- Fine-tune your pricing – Understanding the exact cost of a project helps you tweak your pricing for maximum profitability.
- Insight into your team – The ability to track each employee’s time independently allows you to see where your strengths and weaknesses lie on your team. Who is the most productive? Who is the least productive? Where can improvements be made so that your team is more efficient and productive as a whole?
The bottom line is that accurate time tracking gives you valuable insights into the health of your business and allows you to understand your actual costs versus guesswork.
Take Advantage of Time Tracker’s Benefits Today
It is important to know where your business time is being spent. Time Tracker by eBillity allows you to not only track time but integrates seamlessly with your calendars, QuickBooks, and much more! Try a risk-free 14-day trial of Time Tracker today.
