What are Billable Hours?
Billable hours are the hours employees spend working on asks directly related to a client project. These hours are typically tracked and billed to the client at a pre-agreed rate.
Employees must record their time on each project task for accurate billable hours. Some tasks are billable, while others are not.
For example, sending emails, making phone calls, and attending meetings are typically not billable. However, research, writing, development, and design tasks generally are billable.
How does it work?
Administrators must specify which tasks are billable and which are not when creating them in the system. This allows employees to easily fill out their timesheets and know whether their work hours are billable or not.
By tracking billable hours, businesses can ensure they accurately bill their clients for the work performed. This can help improve profitability and ensure the business meets its financial goals.
Here are some additional tips for tracking billable hours:
- Use a time-tracking system to help you track your time accurately.
- Review your timesheets regularly to make sure that they are accurate.
- Communicate with your clients about your billable hours and how they are calculated.
- Be transparent about your billable hours and be willing to explain any discrepancies.
By following these tips, you can help ensure that your business is tracking billable hours accurately and that you are getting paid for your work.