14 Better Uses for Timesheet Data

Woman reading paper document at office desk in front of computerIf 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?

MORE: Tossing Timesheets Is Just the Start | How’s Your Overhead? | 9 Must-Haves for Firm Growth | Collect More by Clearing Up Billing | Envision Your Future, Then Plan for It | 5 Ways to Build Teamwork
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

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 because they should not be the basis of any pricing, with fees solely based on the value to the client.