Are you using your diary to keep record of which client you worked with and when?
Are you loosing track of your time charged to a client?
Are you invoicing your clients incorrectly or irregularly due to the need to trawl through your diary?
Do you have a clear cashflow forecast?
Are your time entries on your invoices transparent to your client?
Are you having to email or send time another way to someone else to raise your invoices?
These days there are easy to use apps to ensure your time spent on clients is correctly on-charged in a timely manner.
If you are using Xero for example – Xero Projects allows you to record your time against your clients/projects and this is fed directly through to Xero for invoicing. A simple app can be downloaded onto your smart phone for you to start and stop your timer recording against a client. GPS functionality can also be used up to automatically assign time to your clients dependent on your site visit.
By taking the time to set up Xero Project with client projects and relevant tasks from the outset of a new job this will save you time keeping track of your time and data entry manual or within your accounting system. The only maintenance to a job on-going my then only be a new task. Each task may be set up with an hourly rate to charge out time correctly to your client. Or you may set up a fixed price against a task to send through to your invoice.
Set aside regular days in the month – e.g. Monday mornings to invoice clients in time and materials. Review and send your time entries through to Xero for invoicing by project. This will close off your time entries and they will not be resent for invoicing. Make a mistake? Simply cancel the invoice and this will open back up the time entry to be updated and resent to Xero when ready. By being consistent with your invoicing your clients will know when to expect your invoices and you will have a better chance in being paid regularly. Ensure you run your Aged Receivables report weekly or monthly at a minimum to keep on track of who has and has not paid.
Contact us now for more information.