Free Accountant Timesheet Templates
Download our free accountant timesheet templates for tracking time by clients and projects.
Do you need an easy-to-use free timesheet template in MS-Excel for accountants? We’ve got you covered.
Accountants work on several client projects in a day. So it’s easy for accountants to lose track of how much time they are spending on each client and project. This makes it difficult for accounting firms to understand cost incurred on and profit made from each client.
Accountants need to track time using a software or template to understand how they and their teams spend time at work.
HiveDesk is an excellent time tracking software for accountants and accounting firms.
But if you’re not yet ready to spend on a software, you can use our free timesheet template for accountants in Excel. Accountants are proficient in using Excel, so using this timesheet template should be a breeze for your team.
Use this timesheet template in Excel to record time for each day of the week. The formulas in the timesheet automatically calculate total hours for the week and wages earned based on the hourly rate you enter in the sheet.
You can add additional rows if you want a bi-weekly or monthly timesheet template for your accounting firm.
If your team works on multiple clients/projects, they can record the client or project name in the timesheet. You will stay on top of the time spent on each client and project. If you bill clients by the hour, then this accountant timesheet template gives you all the information you need to bill the clients.
About this free accountant timesheet template
The accountant timesheet Excel template is a spreadsheet for recording how much time employees spend on different clients and projects. With this Excel timesheet, you stay on top of billable and non-billable time. You can analyse the data to understand how many hours each accountant is working and on which client/project.
This accountant timesheet template has:
- Start and end dates for the timesheet period
- A header section for accountant’s name and reporting manager’s name
- The hourly billing rate field is useful for keeping track of weekly wages or cost incurred on projects
- Columns for date, weekday, client/projects, start & end time for each day.
- A column for regular hours worked by the accountant on each day of the week.
- If your team works overtime, then you they can record the overtime hours in the timesheet. The sheet has formulas to calculate total hours worked from regular and overtime hours
- There is space for the accountant and the manager to sign the timesheet
You can also customize the template by adding more rows to convert it into a bi-weekly or monthly timesheet template. You can also add additional columns to track things like billable and non-billable hours.
Want something better for tracking time at your accounting firm?
Even though the free timesheet template is very helpful in tracking time for accountants, it’s not the best time tracking solution.
When accountants track time manually, they can make mistakes while entering the information in the timesheet. Employees usually fill their timesheets on Fridays. They may forget what they did earlier in the week and miss reporting important tasks.
It also takes a lot of time to manually fill timesheets. Accountants spend up to 4-5 hours every month on filling timesheet. This is wasted time that could have been used productively on client work.
Storing, tracking, and approving manual timesheets takes a lot of administrative resources. Creating payrolls, client invoices and management reports from Excel timesheets takes even more time and is prone to human errors.
Want to avoid all these headaches and make our firm more efficient & productive?
HiveDesk is one of the best time tracking tools for accounting firms. Just sign up, add your team members to it and let HiveDesk do the heavy lifting for your firm.
Our desktop or web app starts tracking time automatically as soon as your employees start the work. It can also track break times if you want to monitor it.
You can assign tasks to employees to monitor tasks and projects. You can see how much time has been spent on each task and which ones are behind schedule.
HiveDesk generates online timesheets from the time tracking data. All you need to do is review and approve it. Various reports in the system help you track your team’s attendance, activities, and productivity.
Ready to give it a try?
Want is an accountant timesheet template?
A timesheet template is a structured document that enables accountants to systematically record and monitor the hours dedicated to various tasks, clients, or projects. This tool is essential for accurate billing, payroll management, and productivity analysis within accounting firms.
Key Elements of an Accountant Timesheet Template:
- Employee Information: Name, position, and department.
- Date: Specific day or date range covered.
- Task Description: Detailed account of tasks or projects undertaken.
- Start and End Times: Exact times work commenced and concluded.
- Total Hours Worked: Calculation of hours spent per task or day.
- Breaks: Duration and timing of any breaks taken.
- Billable vs. Non-Billable Hours: Differentiation between hours chargeable to clients and internal tasks.
- Approval Signatures: Sections for employee and supervisor endorsements.
Want are the benefits of an accountant timesheet template?
Benefits of Using a Timesheet Template:
- Enhanced Accuracy: Ensures precise tracking of work hours, reducing errors in billing and payroll.
- Improved Productivity: Identifies time-consuming tasks, allowing for workflow optimization.
- Regulatory Compliance: Maintains thorough records to meet labor laws and audit requirements.
- Transparent Billing: Provides clients with detailed invoices, fostering trust and clarity.
- Resource Allocation: Assists in monitoring workload distribution and identifying staffing needs.
How to get started with an accountant timesheet template?
Getting Started with a Timesheet Template for Accountants:
- Select a Suitable Template: Choose a format that aligns with your firm’s operations—daily, weekly, bi-weekly, or monthly.
- Customize the Template: Modify fields to capture all necessary information pertinent to your firm’s requirements.
- Educate Staff: Train employees on accurate and consistent data entry practices.
- Implement a Routine: Establish regular intervals for timesheet submissions and reviews.
- Utilize Technology: Consider integrating time-tracking software to automate and streamline the process.
How to use and analyze data from accountant timesheets?
Track and analyze data from timesheet templates:
- Data Compilation: Collect completed timesheets and input data into a centralized system.
- Performance Analysis: Evaluate the time spent on various tasks to identify inefficiencies and areas for improvement.
- Financial Assessment: Compare billable hours against revenue to assess profitability per client or project.
- Compliance Monitoring: Ensure adherence to labor laws regarding work hours and overtime.
- Reporting: Generate reports to inform strategic decisions and client communications.
Leverage timesheet data to attract new clients:
- Demonstrated Efficiency: Showcase your firm’s ability to manage time effectively, highlighting productivity.
- Transparent Pricing: Provide potential clients with detailed billing structures based on precise time tracking.
- Case Studies: Use anonymized timesheet data to illustrate successful project management and outcomes.
- Trust Building: Offer prospective clients assurance of meticulous record-keeping and accountability.
- Competitive Advantage: Highlight your firm’s commitment to efficiency and transparency as a differentiator in the market.
Frequently Asked Questions (FAQs) about Accountant Timesheet Templates:
A timesheet template is a pre-designed document used to record and track the hours worked by employees on various tasks and projects.
Time tracking ensures accurate billing, aids in productivity analysis, and helps maintain compliance with labor regulations.
Submission frequency varies; common intervals include daily, weekly, or bi-weekly, depending on firm policies.
Yes, they can include sections to categorize hours as billable or non-billable, aiding in accurate invoicing.
Digital templates offer advantages like automation, easier data analysis, and reduced paperwork.
By analyzing timesheet data, firms can identify bottlenecks, allocate resources efficiently, and improve project timelines.
Implement a policy for timely entries and use reminders or automated systems to minimize omissions.
Yes, it provides objective insights into employee productivity and time management skills.
It ensures transparent billing and demonstrates accountability, fostering trust with clients.
Various software solutions offer features like automated tracking, integrations with accounting systems, and real-time reporting.