Track time for projects, tasks, or any activity
Time tracking is the practice of recording how long you spend on tasks, projects, or activities. It helps freelancers invoice clients, teams measure productivity, and individuals understand how they allocate their time.
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Formula
Billable total = sum of tracked durations, rounded to the billing increment, multiplied by the rateIncrement = the unit each entry rounds to, commonly 6 minutes (0.1 hours) or 15 minutes
Rounding direction = up, down or to nearest, and it has to be stated because it changes the invoice
Decimal hours = how time is billed, so 1 hour 45 minutes is 1.75 rather than 1.45
Utilisation = billable hours divided by hours worked
Did you know? Rounding up to the nearest 15 minutes adds about 7 minutes to the average entry. On ten entries a day that is over an hour of billing a week that was never worked, which is why most professional bodies require the increment to be disclosed.
Sources
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