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Recommendation on time sheet recording

Recommendation on time sheet recording

I run a small practice with 5 staff and we have always quoted fixed fees for most oof the work we do, except tax investigations and other ad hoc work, and it has worked out okay for us.

However, I have always got my staff to complete time sheets just as a back up to prove we had spent the time doing the work in case it was ever queried.

Recently, while looking more closely at the time sheets, I have realised that some of the work we have carried out has been correctly quoted, some have a decent profit, but then a few losses as well!

We dont have a time sheet or billing software, and all time sheets are recoded on an Excel work sheet I have created.

I wanted to know if anyone can suggest how I can keep an eye on the costings of jobs without having to buy a time recording / billing software ?

Thanks

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25th Feb 2011 21:11

Don't do it!
Read "implementing value pricing" instead by Ron Baker.

Best book you will ever buy and will change your view on "cost" of jobs.

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28th Feb 2011 11:12

FourFour

As you quote on a fixed fee basis, I guess you are looking to get some better information to help identify unprofitable work. FourFour is a cheap and cheerful option. Be careful how you implement as it could be counter-productive and cause unrest amongst your staff.

-- Kind regards Andy

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01st Mar 2011 00:19

Very very tricky

To keep an eye on the costings of the job is almost impossible.

However, can I brilliantly suggest watching the hours add up by the great new spreadsheet you have then multiply by the hrly rate. If the figure is less than the toatl charged allowing for things such as admin, review by yourslf at higher rate etc you have it ok.

Its a similar thing to keeping an eye on a clients income for VAT purposes to ensure the 12 months is not over the current reg threshold.

Is John Craven's Newsround still on for you?

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01st Mar 2011 10:29

Whai is FourFour?

"FourFour is a cheap and cheerful option. Be careful how you implement as it could be counter-productive and cause unrest amongst your staff.

 

Posted by andypartridge on Mon, 28/02/2011 - 11:12"

 

What is FourFour?

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01st Mar 2011 10:53

What is FourFour?

Simple time recording software.

You can click to view a demo from the home page:

http://www.fourfourtime.co.uk

I have no association with the company. Just a satisfied user.

I am not trying to convince you that you should use time recording software, but if you have decided it would be useful as I have done, this is a simple and cheap method that also generates some basic management reports.

-- Kind regards Andy

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01st Mar 2011 14:39

izepto

Hi,

If you decide to try out time tracking have a look at izepto http://www.izepto.com/

Free for up to 3 users, I have used it previously and find it ok.

Dawn

 

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