Whether you are a consulting or audit firm, with several consultants, or that you work as a freelance consultant, you need to track the time spent on each project, each case, and for each client. In fact, what is billed to your client is your time spent on a project. You will, therefore, have with this spreadsheet a control document to be signed by your client to validate billable hours together.
In addition, this will allow you to know the number of hours spent on each project, thus optimizing your time and improving your margins on your various jobs.
To do this the easy way, it is recommended to create a timesheet to record and optimize your time. Below we not just explain the essential component of a consultant timesheet but also provide you a FREE editable timesheet to download and use!
To create a consultant timesheet, you need the following mandatory information:
- Name of customer
- Postal address of the customer
- E-mail address of the customer
- Telephone number of the customer
- Name of provider
- Postal address of the provider
- E-mail address of the provider
- Telephone number of the provider
- The period concerned
- The hourly rate
Apart from the contact information, you will also need the following necessary information:
- The date of the service;
- The name of the client;
- The name of the project;
- Billable hours over the relevant period.
All you have to do is have your client sign this document.
Create an Excel consultant timesheet
If you are a little familiar with Excel formulas, you can, for example, create your own consultant timesheet according to your own ideas to make Excel your personal work time calculator. This is not difficult at all:
- Enter your desired column headings in an empty sheet (e.g., date, the start of work, end of work, break, total hours, etc.).
- Enter your working and break times in the table.
- Use simple Excel formulas to continue calculating working hours (for example, subtracting the start of work and break times from the end of work).
- You can calculate plus and minus hours by first setting your standard working hours per day and then deducting the hours actually worked from this value.
- You can use the Excel AutoSum function to calculate your monthly working hours.
- You even have the option of calculating your due precisely by adding your hourly wages to an empty cell and then multiplying it by your working hours.
- If you want to use Excel yourself to record your times, you can read various tutorials on this topic on many websites.
Alternatively, you can also download and use our editable ready to use, free Excel template for recording and optimizing the time easily and quickly.