TRACK BILLABLE HOURS
Updated 89 days ago
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The most obvious reason behind having to accurately track billable hours is because that is where the business derives most of its income. Even if a single employee under-reports the number of billable hours by five to ten hours every month, this adds up to 120 hours every year. If your business is earning revenue of $100 per hour, then this means a loss of $12000 per employee. And even if you are a small business with just 50 employees, this could add up to $600,000 every year! This is going to hurt the financial health of any company and in particular a small business. It is therefore, imperative that every business makes it a priority to accurately track billable hours.