Are you under billing your clients?
October 31, 2016
Some attorneys I have talked to mentioned the fact that they are not that great at keeping track of their hours. You know you have worked on a client earlier in the week but you don’t know exactly how long you worked so you estimate your billable hours and to be fair to the client you make sure you underestimate. This means you are constantly under billing and it could be costing you thousands of dollars a month.
It isn’t the easiest thing to keep track of your hours. It is one of the last things you want to think of and there doesn’t seem like an easy way to do it. They have all these applications to help you keep track of your hours but they all seem so complicated and they cost money. Instead of spending tons of time learning a separate application, why not use QuickBooks Online so your bookkeeping and billing are integrated into one application? With QuickBooks, you can easily keep track of your hours per client, send invoices to your clients and even get paid from them.
Let me explain how easy it is to keep track of your billable hours.
First, you need to turn on billing clients by hours. Click on the gear icon in the top right corner and click Account and Settings. Select Advanced on the left hand side and turn on “make single-time activity billable to client.” Click Save.
Second, you need to setup yourself as an employee by clicking on Employees on the left hand side of the screen and click add employee. You can fill out as much information as you want but make sure to fill in the display name.
Third, click on the gear icon in the top right corner and click manage users under your company. Click that you want to add a new user and select time tracking only. You can have as many time tracking only users as you want so don’t worry about it costing you extra money. Select the name you made in the previous step and enter their email address. Then click next and finish. This will send an invitation to the email address you provided.
Fourth, setup a login for keeping track of your hours separate from the username you made to use QuickBooks. Once you login, you can enter your hours either with a start and end time or that you worked a set number of hours and minutes. You can also say that these hours are associated with a certain client, what service you provided and enter a description. Make sure to check Billable and click Save.
Now when it gets to the end of the week, all your hours will be there for you to put on an invoice and send to your clients. If you can get in the habit of entering your hours every day, you will never forget about billable hours again.
I hope this tip will helps! Let me know if you have any question by clicking here.