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Author: Kelly Drill
If you bill your clients by the hour, accurate time-tracking data is critical to the success of your business. A search of the Web reveals no shortage of time-tracking applications. However, most are designed for teams and, therefore, cost-prohibitive (or simply too complex) for the average freelancer.
Here are some tips for choosing a time-tracking tool for your freelance business so you can spend less time on administrative minutia and more time serving your clients.
Capture Hours in Real Time
Time-tracking apps generally fall into one of two categories: timer-based tools and online timesheets. As you consider your options, bear in mind that there are three primary benefits to tracking your hours in real time. First, real-time data capture is more efficient. Clicking "start" and "stop" on a timer is infinitely faster than entering your hours at the end of the week (or the month) into a spreadsheet.
Second, tracking your hours in real time allows you to more closely monitor your clients' budgets as compared to your progress on their projects. This allows you to identify problems immediately and communicate them to your clients before they become unexpected expenses.
Third, real-time hours tracking can dramatically improve the accuracy of your data, which means ensuring that you get paid for every minute of your hard work. It's all too easy to short-change yourself when you rely on manual or after-the-fact time-tracking methods. Relying instead on a timer eliminates the potential for human error and oversight.
Invoice Your Way
If you've been operating a freelance business for any amount of time, you already have an invoicing process in place; but many time-tracking apps box you into a particular invoicing format. Switching formats mid-stream can be both confusing for your clients and disruptive to your accounting processes. The solution? Keep it simple. You don't need another invoicing tool and you shouldn't pay for functionality you won't use. The time-tracking app you choose should provide for easy, customizable exports that work seamlessly with your existing invoicing process.
Don't Break the Bank
Don't be fooled into thinking that the best time-tracking tools are the most expensive. Most freelancers operate on fairly lean budgets, and an added expense of $20 or more each month simply doesn't make sense. Before you invest in any time-tracking tool, be sure you've done your homework. Rest assured, there are some good tools available for just pennies a day. Just be sure, however, that the tool you choose will adequately suit your needs. Many apps that offer free accounts also limit the number of projects or clients you can include, and others don't allow for exports. Opt for an app that is both cost-effective and full-featured.
If you bill your clients by the hour, accurate time-tracking data is critical to the success of your business. A search of the Web reveals no shortage of time-tracking applications. However, most are designed for teams and, therefore, cost-prohibitive (or simply too complex) for the average freelancer.
Here are some tips for choosing a time-tracking tool for your freelance business so you can spend less time on administrative minutia and more time serving your clients.
Capture Hours in Real Time
Time-tracking apps generally fall into one of two categories: timer-based tools and online timesheets. As you consider your options, bear in mind that there are three primary benefits to tracking your hours in real time. First, real-time data capture is more efficient. Clicking "start" and "stop" on a timer is infinitely faster than entering your hours at the end of the week (or the month) into a spreadsheet.
Second, tracking your hours in real time allows you to more closely monitor your clients' budgets as compared to your progress on their projects. This allows you to identify problems immediately and communicate them to your clients before they become unexpected expenses.
Third, real-time hours tracking can dramatically improve the accuracy of your data, which means ensuring that you get paid for every minute of your hard work. It's all too easy to short-change yourself when you rely on manual or after-the-fact time-tracking methods. Relying instead on a timer eliminates the potential for human error and oversight.
Invoice Your Way
If you've been operating a freelance business for any amount of time, you already have an invoicing process in place; but many time-tracking apps box you into a particular invoicing format. Switching formats mid-stream can be both confusing for your clients and disruptive to your accounting processes. The solution? Keep it simple. You don't need another invoicing tool and you shouldn't pay for functionality you won't use. The time-tracking app you choose should provide for easy, customizable exports that work seamlessly with your existing invoicing process.
Don't Break the Bank
Don't be fooled into thinking that the best time-tracking tools are the most expensive. Most freelancers operate on fairly lean budgets, and an added expense of $20 or more each month simply doesn't make sense. Before you invest in any time-tracking tool, be sure you've done your homework. Rest assured, there are some good tools available for just pennies a day. Just be sure, however, that the tool you choose will adequately suit your needs. Many apps that offer free accounts also limit the number of projects or clients you can include, and others don't allow for exports. Opt for an app that is both cost-effective and full-featured.
Posted in: Entrepreneurship
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