Time Tracking – not just for accountants and lawyers..!

This month's Solo Productivity Topic Tip - Track your Time…

You must track your time…no matter whether you bill by the hour or a fixed fee…

Simply tracking time isn’t going to make you a fortune, nor revolutionize your business…But the findings and insights gained can, provided that’s what you want… but that’s another story!

Personally, I'm well used to the pros and cons of tracking time. For most of my professional life I’ve filled in paper timesheets and ‘toggled the timer e-clock’...? As a ‘freelance IT reviewer’, paid by word rate and fixed fee. I still found it useful to track my time.

As a consultant my timesheets were used to bill the client. While my ‘freelance timer’ told ‘me’ where I was spending ‘my’ time and when too many hours were spent researching and testing for payments to be worthwhile? ?Many happy years were also spent as equipment reviewer for a scuba magazine… Payments then were fixed fee and very low… didn’t bother with the timer – was being paid to enjoy myself testing the latest gadgets! ?So - do set your own work/life balance - income and enjoyment priorities.

Back to solo time tracking- the why’s and how’s…

Productivity Tips – why track your time…

You may feel time tracking has no role for you… Wrong. ?Once converted many solo workers are surprised almost shocked. Comments such as ‘never knew ‘approving quotes took so much time...’ or ‘writing the review was a breeze, but the app testing took far longer than budgeted’.

There’s lots to be gained simply knowing where your time goes - especially true if you make the tracking process so easy it becomes second nature. This where the tech comes in - see later.?

For billing

Professionals, such as consultants, lawyers and accountants, have long leveraged time recording for billing.

You should too, for the same reasons. An itemised bill gives the client confidence. They know where the money has gone. Billing is a breeze too if you opt for integral time tracking and invoicing. Month-end invoices are generated without any further effort. Plus, the ‘professional invoice’, complete with address and logo’s etc. give your business added kudos - see tech later.

?Many of the business orientated apps also include another vital tracking feature expenses. Once you get into the time tracking mode tracking expenses comes become totally natural. Again, it helps profitability as tasks time and expenses are usually inter-linked.

?An itemised bill is also the basis for discussions with clients where you feel more time has been expended than necessary and vice versa.? More on planning later.?

For delivering profitability

Next - the big picture – where are am spending my time and is it profitable?

Reports like the below ‘Time Tracking Article’ from Harvest show you exactly where it’s gone…

For Personal Productivity

Time tracking shows you what you've been doing… ?reports like the above will help you: -

·??????? Focus and reduce distractions

·??????? Progress track

·??????? Bite the bullet

·??????? Automate

Multitasking is inefficient – a single task timer’s spin-off benefit is that it helps you focus on a single achievable. Another a spinoff is that professional tracking apps enforce structure. An author’s article ‘project’ could have the following billed time tasks:

·??????? Research

·??????? Testing

·??????? Writing

·??????? Interviewing

·??????? Quotes

·??????? Proofing

Don’t forget the unbilled efforts

·??????? Marketing and pitches

·??????? Invoicing and chasing payments.

You must track these too as in the above report. Most early converts are surprised how must they cost.

Once you’ve established your task set, you've got the basis for project management… many of the standalone task management systems also incorporate a basic Kaban board view but without the overkill of full-blown project management.

Within any project or role some tasks are less enjoyable or more onerous. Time tracking reporting helps flag those tasks that are often late or underestimated, as they're not much fun.? This ‘self-knowledge’ should help you ‘bite the bullet’ and undertake them earlier or perhaps even avoid them altogether - work in a different way or perhaps outsource.

If you find yourself spending lots of time on repetitive tasks it may be worthwhile investing some of this time on automation - leveraging workflow apps or even databases. Time tracking this initial non-chargeable work investment will highlight if the effort is justified; by releasing more chargeable time in the longer term.?

For planning, project management and reporting

Once well-established your time tracking management reports will prove to be a real godsend.? The best apps have a first rate set of standard reports and often extensive customization options.?

Better planning and estimating

At the end of each job take good a look at time spent. Make notes to yourself and create template plans for similar projects. These should be continually honed, and the planning process improved in parallel.? Most professional trackers have project templates storing task lists and rates. These can be a real productivity boost, especially if your projects have comparable task lists

Deadlines

Once you start getting to grips on project phases the planning process will help you achieve and meet deadlines more often. It's better to give a realistic deadline and meet it than short deadline and miss it.

For your clients and choosing clients

An itemised invoice is an ideal vehicle justifying the current bill, discussing future projects and perhaps business collaboration.?

Looking across clients tracking highlights which are the most profitable. If you leverage integral invoicing it will also flag which clients pay on time and which you must chase – expending unpaid time...

For you – work/life balance

·??????? Learn what make money

·??????? Training needs

·??????? Refine your work/life balance

·??????? Do what you enjoy doing!

?Time tracking is not just for your business it's for you too… the reports will help you refine and define your work life balance. Understand what's making you the most money for the least effort Areas that you're struggling with that might benefit from some training. Plus, tasks that you don't really enjoy and perhaps you can either work around or change the services you offer.?

More encouragement…!

If you still need more encouragement… browse the supplier blog sites. Naturally they're keen to promote time tracking but lots the advice certainly rings true and will apply to you so take a look.

Harvest - Why is time tracking important?

Toggl - What Is Time Tracking: An Actionable Guide to Boost Productivity

Tech Solutions – Time Tracking

Time tracking functionality can be found in the whole wealth of applications from basic timers to high-end workplace management systems. While there are a few very basic entry apps I'd recommend serious solo workers start at next level – a dedicated tracker app.?

Dedicated trackers

Dedicated time trackers are very slick and the best are both powerful and easy to use. The ‘professional’ apps listed below are all well suited to the needs of busy solo workers.

Clockify

Everhour

Harvest

TimeCamp

Toggl

All offer Google account logins and full function tracking structures - client, project, task plus estimating, invoicing and customisable reporting: - All have trial options and some even free plans – although with feature, project or team member limits.? Pay close attention to the plan/price and feature matrix – these vary considerable also minimum user numbers are often an issue with project solution

Watch out for more time tracker product tests in subsequent newsletters…

3.1.2???? Accounting and time tracking

The below market leading accounts applications have varying degrees of time tracking and project management features.

FreeAgent

FreshBooks

QuickBooks

Xero

These aren’t as ‘easy to use’ as the typical dedicated time tracking apps and only QuickBooks has a browser extension. Most are also far less ‘project feature rich’ than dedicated SME apps such as Asana and Trello – BUT…for many solo workers they are more than ample.

More demanding tracker users continue to rely upon dedicated trackers and integrate them with their accounts, App.

If you outgrow even this approach and really DO need more project power, you could always upgrade to a mid-range project system that tracks time and then integrate with your accounting app. ?As always accounts apps have trials so do test drive them…

Watch out for a Solo Accounts Apps Product Group Test in subsequent newsletters…

Project management and workplace solutions with integral time tracking

All serious project management apps such as Teamwork and Wrike and professional workplace solutions such as ClickUp and Monday incorporate time tracking amongst their very many features. ?I'm not going to include them here - for many solo workers they're probably overkill - very much a sledgehammer to crack the nut.

If you do need database functionality and in an easy-to-use package – do look at Notion

Watch out for Notion – A Freelance Hub review and Workplace solutions in subsequent newsletters…

In action

I remember the days… head scratching teams filling timesheets last thing Friday – often the following Monday!

To be effective time tracking must become an integral part of your daily life - don't put it off its far better to capture the information as it happens.?

Make it easy

For most of us ‘time tracking’ doesn’t come naturally… the basic mantra here if it’s not easy to use you won't use it. Choose an app that’s easy to install, makes the effort to get youself up to speed with automated installation and tutorial guides that provides help when you need it.?

The ‘timer button’ and browser extensions

The feature you’ll use most often is the timer button. This must be available everywhere you work. Ideally the extension should also flag when its active and be easy to switch off when you’ve finished the task. Below are all five apps running as Chrome extensions

Most browser extensions can also switch on a whole series of mainstream apps. Once active timer buttons then appear in the menus of your other mainstays such a Gmail and Google Docs. As aways – install the extension and prove them in action – you could be very pleasantly surprised at the power and coverage.? Often adding features that may well change and improve the way you work and that becomes more added value.

Diaries and email should ideally also be integrated. For example, Some Gmail extensions can start the clock directly from the mail complete with updating the time file with the emails subject line. Google Doc integration is also widely implemented.

Project management integration

Happy with your time tracking but now looking for a few extra features – then why not add it to your project management system. Most trackers integrate well with leading SME project management systems such as Asana, Notion and Trello. For tight integration you need to mirror the project and task list on both platforms. Look at the effort involved and whether the apps have features to ease or even automate this potentially onerous task.

TimeCamp for example offers Notion Integration. However. these ‘added value features are often excluded from free and starter plans.

Accounts Integration

Most trackers also offer accounts integration where invoices are transferred manually or automatically to the account’s app for subsequent reconciliation and annual reporting. As with project management integration do leverage trial offerings and make sure the integration is slick, dependable and meets your needs.

Added value features

In addition to the mainstream features that all time tracking apps share most have some interesting added value features that may be of use depending on your working style. For example: -

Clockify has Kiosks and GPS location tracking

Everhour has resource planning, timelines, clocking and overtime.

Harvest has a ‘client dashboard’ so they can view live project timings and even pay invoices.

TimeCamp has attendance, clock in by location GPS and computer activities such as timelines.

Toggl supports the Pomodoro technique which not only helps productivity, but it has a range of benefits. Users can also ‘extend’ into ‘Toggl Plan’ the firm’s own project planning app.

Costs - the features and plans matrix

Most apps offer a range of plans and feature matrices – a low cost or even free plan start with options of adding/upgrading plans and costs as you need or demands grows. On the flip side – it’s also useful to be able to turn off unrequired features – e.g. solo worker turning off unrequired multiuser / team options.

Before you commit - compare the monthly costing of your apps short list costs. Increments between the plans can vary quite dramatically. Pay attention to the features & plan matrix along with issues such as minimum user numbers plus costs of any integrations with other apps such accounts and project management.

So, get out the spreadsheet and take an expenditure ‘look before you leap…’

Closing words…

Choose an app that fits the bill and of course generates them! If you’re new to time tracking look at a least a handful of the market leaders - see what's available and test out what works for you.? You may be pleasantly surprised and find features that prove useful you hadn't even anticipated. Be flexible and learn from your experiences.

Hope this these tips and tech suggestions have encouraged you to choose your own time tracking solution and track and your time. Do feel free to comment with any findings, hints and app suggestion…

Lastly – ‘what’s causing your productivity pain?... tell me and I’ll try to cure it with a future ‘tips and tech’ post…