Remember to slightly bump up the rate you get after you divide your annual earnings by working hours – this helps account for the amount of time you spend on non-billable tasks like invoicing and other administrative work.
![excel billing timer excel billing timer](https://www.techrepublic.com/a/hub/i/2009/01/07/951d062e-c3b5-11e2-bc00-02911874f8c8/excel1c.png)
It’s usually 2080 hours for a full-time job, but you can adjust your working hours the way you want to. Then, divide your annual expected earnings by the number of working hours per year. You can do some research to ensure your expected income is in the range of what others in your field are earning. Set an hourly billable rate for your workīefore you decide to take on a job, you have to know how much it pays, right?Ī good way to set your hourly rate is to break down your expected annual income. Here’s a look at what you need to follow to ensure you track your billable hours correctly: 1. To ensure that you track your billable hours effectively, you have to follow a specific, streamlined process. Sure, knowing what counts as billable time is important, but it isn’t enough. The simple 5-step process for tracking billable hours
![excel billing timer excel billing timer](https://toggl.com/blog/wp-content/uploads/2020/05/How-Time-and-Billable-Hour-Tracking-Can-Make-Tax-Time-Easier-Screenshot-1-1-1024x478.jpg)
The ONLY tool you’ll need to track billable hours.
![excel billing timer excel billing timer](https://community.zammad.org/uploads/default/original/2X/4/4578cb00431dcdece03aeb952b5e3e6ffdc2b182.png)
The simple 5-step process for tracking billable hours.We’ll highlight what billable hours are and even take you through the process of how you go about tracking them.Īs a bonus, we’ll also highlight the only tool you’ll need to track your billable hours in easily! Here’s what this article contains: This article will cover everything you need to know about tracking billable hours successfully. Looking for the best way to track your billable hours?