Are you a freelancer? If yes, then it’s a must for you to keep a check on the way you spend time. You need to do is just not for making the bill based on working hours to your clients but also for understanding as of how you are utilizing the time. Time is money we all know and just the way we want to know as for where the money is going, we must keep a track on invested time too. Take a look at the below-mentioned reasons to justify as for why Freelancers Need to Track Time.
Helps in making segregation between important and urgent
Understand the fact that urgent work completion does not confirm and guarantee that you will achieve what you want 6 months or 6 years down the line. If you are short of clean clothes then go for laundry cleaning, as it’s important as your urgent work. If you recognize the fact that daily you are remaining occupied doing tasks which appear critical, a time will come you will get bored and look for fresh air. You will wonder as for how you misused your precious time in life. Track your time and get a gift which teaches you awareness.
The lesson of trust building
Make it a habit to present your workflow in steps which consist of time spent on researching, designing, planning, writing, editing, proofreading, managing and submitting. Your client at the other end will get a confident feeling about you. He/she will mark you as one of the organized, honest, and trustworthy professional in his/her team. By presenting you as a transparent person who values time and money, you can create strong and long lasting relationships full of trust with your clients, colleagues, and vendors.
Work prioritization and work delegation on accurate information
Understanding the priority of work is important in freelancing. The moment you keep tracking time and have a clear idea about your activities on daily basis, you will get empowered with the skill of work prioritization and delegation. Understand Time is not available in plenty, and you need to make it.
Tracking time vital for billing needs
Imagine that you are at basic level. You work for your own needs. You can fetch money into account just by billing to clients. Clients will look for the data about time and its segregation to complete the allotted work. They will pay based on that only. Maintain a tracking system it will provide relief to you. No more you need to guess time invested on work, time tracking will help in maintaining consistency in invoicing management.
Time tracking gets money back to account
Time tracking is the ideal tool for getting tax breaks. In case you are spending time on Research and Development (R&D Tax Credit), keeping a track of this time will put your money back in the account by end of financial year. The taxman being an accurate expert, and with records of the R&D work, you can see more money this tax year.
Go for some time tracking program to simplify the process of accurate time management for your freelancing work.