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FROM THE OFFICES OF... Hollenbach & Associates, LLC Certified Public Accountants and QuickBooks ProAdvisorsOctober 20142607264207 8884922445 www.BallcCPA.comBilling for Time in QuickBooks: An Overview
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How to fill out billing for time in
How to fill out billing for time in
01
To fill out billing for time, follow these steps:
02
Start by opening the billing form or time log template provided by your organization.
03
Enter the date for which you are filling out the billing.
04
Specify the project or client name for which the time was spent.
05
Break down your activities into specific tasks or categories.
06
Enter the start and end time for each task, along with any breaks taken.
07
Calculate the total duration for each task, and ensure it is accurately recorded.
08
Convert the duration to the appropriate billing unit (e.g., hours, minutes).
09
Multiply the billing unit by the agreed hourly rate or billing rate for the project.
10
Sum up the billing amounts for all tasks to calculate the total billable amount for the day.
11
Double-check the accuracy of the information filled in and make any necessary corrections.
12
Submit or save the completed billing form as per your organization's instructions.
Who needs billing for time in?
01
Billing for time is important for various individuals and organizations, including:
02
- Freelancers or independent contractors who provide services based on hourly rates.
03
- Professional consultants who bill clients for the time spent on projects or consultations.
04
- Law firms or legal professionals who need to track and bill their clients for billable hours.
05
- Businesses employing time-based billing models, such as IT service providers, creative agencies, or consulting firms.
06
- Project managers or team leaders who need to monitor and track their team's time spent on different tasks.
07
- Organizations or individuals seeking accountability and transparency in financial transactions.
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