14 Smarter Ways to Use Timesheet Data

Ed Mendlowitz CPA The Practice Doctor Q and AIf you just pay people and move on, you’re missing critical information.

By Ed Mendlowitz

QUESTION: I keep timesheets for billing purposes but am not clear how I can use them to better manage my practice. How can I do this?

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ANSWER: Analyzing time records is a very effective practice management tool and is an essential part of most professional services organizations. Some people contend that timesheets should not be used since they should not be the basis of any pricing, with fees solely based on the value to the client.