Timesheets & Expenses
This Timesheets & Expenses template is an excel workbook containing 3 spreadsheets: monthly, bi-weekly, and weekly timesheets, accompanied by a fourth spreadsheet for tracking reimbursable expenses. The spreadsheets are used to track time and expenses associated with HR consulting services, and may or may not be presented to the client with their invoice.
Overview
Time is money and as an independent consultant, it’s a saying that can be taken literally. Many clients will pay you on an hourly basis, regardless of whether you work on-site or remotely, so you’ll probably need to track and document how many hours you’ve worked on their project.
Perhaps you think that time tracking and the administrative procedures that it entails are just something you have to do to be able to hand in a time sheet and document your working hours when billing your client. But actually, there is real value to achieve from time tracking, also for yourself and your business which you should not miss out on.
The data that consultant timesheets collect is necessary for accurate billing and will also help you identify the time and money spent on each task and project.
This excel workbook includes the following spreadsheets for consultants:
- Weekly timesheet
- Bi-weekly timesheet
- Monthly timesheet
- Reimbursable expenses
Why Use the Timesheets & Expenses template
- To itemize services provided to a client and track the time spent on each service.
- To track reimbursable expenses related to services provided to a client.
Benefits of the Timesheets & Expenses template
- Providing a breakdown of tasks, and the time spent on each, keeps the client in the loop with regards to how your time - and ultimately their money - is spent.
- Tracking your time helps you plan ahead as a consultant. Your timesheet shows you what you’ve already finalised and makes it easier for you to prioritise which tasks that should now be at the top of your to-do list.
- Time registration makes your work visable. By registering in specific categories, you will be able to document how you spend your working hours and thereby make it easier for your client to see the value you bring.
Download the Timesheets & Expenses template
Download the Timesheets & Expenses spreadsheet! This template is included in the HR Consulting Kit, a comprehensive kit that features templates & best practices to set up & manage your HR consulting practice.
Tips for working with the Timesheets & Expenses template
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Filling out a timesheet can be an ardous task especially if you have other more pressing, exciting and billiable work to do! Even if there's no time sheet compliance, we would encourage you to keep a log of your activities in case your client asks to see details of work done (maybe for their internal audit purposes). Better still, send it to your clients with the invoice even if not required. This bodes well for your business' transparency and credibility.
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Get into the habit of recording an activity as soon as the work is completed. Our memory lapses with time. You woudn't want to under bill or over bill your client!