“Time is the most valuable thing a man can spend” as said by Laertius Diogenes
Proper timekeeping is essential for improving productivity and efficiency. It can also help you identify the most efficient time for profitable work. By adopting the right time tracking software, you can improve the billing and invoicing process and keep accurate records of time spent on work.
Case Study:
Let’s see a fictitious case study of John, who found it helpful to adopt a timekeeping system.
Before using a timekeeping software
John is a Freelancer by profession. He works for different clients, and project rates for each client are different. John would manually track his time using a spreadsheet. He would note down the start and end times for each session along with the project name. He would often forget to put information in his spreadsheet as it was not available to him, or he just forgot.
This manual time tracking was time-consuming, and it created issues while billing an invoice. Later instead of using a free form sheet, John decided to use timesheet templates.
Storing all templates properly, retrieving them from time to time for billing would often create problems. Many times he also misplaced the templates. This way of time tracking was not working for him.
After adopting a timekeeping software
He researched various sites and selected software suitable for him. Then, he created different projects and multiple tasks for each of the projects along with a billing rate. Now he started recording all his projects, tasks, and their rates in one place.
To record time, John has to check-in to the system once he starts working, and once he has finished his work, he checks out of the system and records his work details for the projects he is working on. This timekeeping software made his billing process more straightforward and error-free, making him and his customers happy.
9 reasons Why Time tracking is essential for Freelancers?
Tracking your time is essential for freelancers for several reasons. It helps you:
- Improved project management: By tracking your time, you can better understand how long projects take to complete. This information can help you better estimate the time required for future projects.
- Identify areas where you can be more efficient: With time-tracking, you can see where you’re spending too much time and take corrective actions to improve your workflow.
- Invoice clients accurately. Knowing how much time you spend on each project or task will help you bill clients fairly.
- Set and track goals. Tracking your time can help you see your progress toward your goals and adjust as needed.
- Improve your productivity. When you know how you’re spending your time, you can focus on the most important tasks and avoid distractions.
- Increased accuracy: Time tracking software can help you keep accurate records of time spent on work. This can help track your progress on projects.
- Simplified billing and invoicing: Time tracking software can automate billing and invoicing. This can save you time and hassle and help you ensure that you are billing clients accurately.
- Increased visibility. You can provide clients with detailed reports on your progress when you track your time which can help build trust and improve your relationships with clients.
- Better decision-making. By tracking your time, you can identify areas to improve your efficiency. This information can help you better allocate your time and resources.
Best practices for a freelancer:
- Find the time when you are most efficient and productive.
- Select a hassle-free timekeeping system.
- A check-in, check-out based system is easier to use that calculates time duration automatically.
- Check if the software you selected has a mobile interface so that you can enter information on the go.
- Keep track of all work hours, even when you are not billing your clients.
What mistakes should we avoid for timekeeping?
- Create a proper list of projects and their tasks. Fix the rates for each project in advance.
- Try adopting a simple time tracking system instead of a complex system, as it will save time and money in the short term.
Best Time to work
A timekeeping system can only be able to track your work. It does not motivate you to work efficiently. We need to consider our biorhythms and figure out what time of the day we are most creative or efficient. An easy way to do this is to audit your time in 15 minutes increment for few days or throughout a week. You can use this chart we have created for this purpose.
Conclusion
For freelancers, adopting a suitable time tracking system will help them manage their time wisely. Explore how OfficeClip time tracking software will make you more efficient and productive.
Let us know how you guys are tracking your time?
Note: This blog is written in 2021 and has been updated.
Deepa Kapoor is an online writer for small businesses. She loves to write on the advancements of new technologies and how it affects our lives. She always explores ways to make small businesses more profitable. When not writing, she enjoys reading books and cooking exotic traditional food.