Tracking your effort investment on a task is vital to be able to bill appropriately. Even if you bill on fixed fee basis, tracking your effort invested tells you whether you under or over charged your customers. It’s the most basic cost benefit analysis that should be considered when fixing future rates. Tracking this effort in the form of time and expense tracking related to tasks, has been a part of Firmzen for a while now.
In our professional lives, time and money is not always spent on a client facing task, is it? Continue reading
Earlier, the date of action of work logged (work completion, Time Sheet entry, Expense log) coincided with the day you carried out that action in Firmzen. A few users actually preferred it this way; they didn’t want their Staff back-dating any entries in Firmzen, to encourage prompt and timely tracking logging of information, on the day of occurence.
Given the abundance of data and information we work with daily, forgetting to note things down or tracking them in a timely manner can lead to information gaps and make things messy pretty quickly. While this view is understandable, there is often a genuine need to backdate entries. Continue reading
Tracking work status can mean very different things for different Industries. For some, it could be as simple as keeping a To-Do list and ticking completed items off. For others it might involve more elaborate parameter based progress tracking. Accounting and most Service Industries tilt towards the latter.
When you take up a job for a Client, assign it to a person in your team, and want to track progress – you’d definitely want to capture all events and parameters that could impact how much you bill the Client. This could include the amount of time, money and effort that your Firm ends up investing while doing the job. With this in mind, we’re happy to introduce Time sheet and Expense tracking. Time sheet and Expense log can be maintained on a Task wise basis with the eventual goal of being able to perform basic cost benefit analysis at the time of billing.