Timesheets for CA Firms
Time is money and for a CA Firm…time is really money. CA firm has mostly fixed costs. You hire a
bunch of talented people, and how much profit you make depends on how well
you make use of their time on client work. Keep utilization and billability
high, and your firm will make excellent profits. Let it slip too low, and
your firm starts bleeding cash.
Any Timesheet software, also known as time tracking or time management software,
helps CA Firms track and bill their time. Since time is, quite literally,
money for CA Firm then it is evident that choosing the right timesheet
solution is a critical business decision.
Timesheets boost your revenue
With the right timesheet solution, CA firm can dramatically improve its revenue. Effective
time management boosts CA Firms’ revenue in several ways, including:
-
Billing more of the time you spend on client work
- Scheduling the right resources on the work
- Charging the appropriate rate in all instances
- Scoping and pricing its quotes better
Timesheets control your costs
Look at the profit and loss (P&L) statement of a typical CA Firm, and it quickly becomes apparent
that employee costs make up the vast majority of their cost structure. Choosing
the right timesheet system enables a CA Firm to control its costs by:
-
Catching scope creep or project management issues early
-
Reducing the opportunity cost of time spent on unbillable activities
-
Understanding how its internal practices (e.g. meetings) impact on staff utilization
-
Reducing the overhead and administration associated with managing time
Are you still using spreadsheets to track your time?
If so, you wouldn’t be the only one. It’s frightening how many CA Firms still
use spreadsheet time tracking. Sure, it is an easy way to get started but as your
business grows the problems escalate and you end up wasting billable time
across the organization –accountants take longer to fill in their time, admin
staff have to consolidate and re-enter data, the finance team is forever
sending out new spreadsheet versions with the latest job codes, and management
has to do their own spreadsheet analysis to get the data they need in the right
format. Don't you need a proper time tracking solution?
Here is the solution : TopCAfirms.com has come up with free Project Management & Timesheet Solution…..that’s also free
Any CA Firm can create many Client wise Projects i.e. Assignment currently being
performed by CA Firm's Team. These projects will be visible only to you and
your team.
CA Firm can assign resources on these projects, assign tasks to resources, set
milestones with/without deadlines and track the progress made by team.
Resources assigned on the project will fill his timesheet against task assigned to him.
Further, resource can create their own task as well.
Progress of all your running projects will be on your click. For more info write us to task @ topcafirms.com
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