Harvest
Time Tracking
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Billable Hours Tracker for Cfos

Harvest is a billable hours tracker that ensures CFOs can prevent 15-25% revenue loss by accurately capturing all billable time, enhancing financial oversight and project profitability.

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How much revenue is your team leaving on the table?

Most agencies run at 55-60% utilization. Even a small improvement means significant revenue. See what closing the gap looks like for your team.

Number of people who track billable time
$
Blended rate across roles (junior, senior, lead)
55%
Percentage of total hours that are billable. Industry average is 55-60%.
75%
A realistic target for service businesses is 70-80%.
Monthly revenue gap $0
Revenue at current utilization $0/mo
Revenue at target utilization $0/mo
Extra billable hours needed per person/day 0h
Annual revenue opportunity $0

Start tracking team utilization

Walk through the entire flow below. Start a timer, check your reports, and create a real invoice — all in three clicks.

Go ahead — start tracking!

One click and you're timing. Try it right here: start a timer, add an entry, edit the details. This is exactly how it feels in Harvest.

  • One-click timer from browser, desktop & mobile
  • Works inside Jira, Asana, Trello, GitHub & 50+ tools
  • Duration or start/end — your call
  • Day, week & calendar views to stay on top of it all
  • Friendly reminders so no hour gets left behind
Acme Corp
Website Redesign
Homepage layout revisions
1:24:09
Content Strategy
Blog calendar planning
1:30:00
SEO Audit
Technical audit report
0:45:00
Brand Guidelines
Color system documentation
2:15:00
Logo Concepts
Initial sketches round 1
1:00:00
Today's total 6:54:09

The Indispensable Role of Billable Hour Tracking for CFOs

Billable hour tracking is a crucial component of financial health for any organization. Inaccurate tracking can lead to a significant financial impact, with professionals under-reporting billable hours by 15-25%. For a CFO managing multiple projects, this mismanagement could translate to a loss of $15,000-$30,000 annually, especially for those billing at $100/hour. Accurate tracking enhances project profitability by preventing margin erosion and maintaining cash flow management through precise invoicing.

Moreover, understanding true project costs is vital for CFOs to enhance financial visibility and cost control. Labor often constitutes 50% to 70% of total project costs, making accurate tracking indispensable for preventing budget overruns. By maintaining well-documented time records, CFOs can simplify audits and ensure compliance with financial regulations, such as the Fair Labor Standards Act (FLSA). This not only protects against legal risks but also builds client trust through transparent billing.

Essential Features and Seamless Integration for CFOs

For CFOs, selecting a billable hours tracker involves prioritizing features that ensure real-time tracking accuracy. Tools like Harvest offer one-click start/stop timers, capturing 95-98% of billable hours compared to 65-75% for those tracking retrospectively. Robust reporting and analytics are essential for real-time KPI monitoring, forecasting, and resource allocation, enabling strategic financial oversight.

Seamless integration with existing financial systems is imperative to eliminate manual data entry and ensure data consistency. Harvest integrates with platforms like QuickBooks and Xero, streamlining operations and enhancing financial management. Scalability and cost-effectiveness are also key considerations, allowing businesses of varying sizes to adapt the tool to their needs, from small agencies to large enterprises.

Best Practices for Operational Efficiency and Compliance

Implementing best practices in time tracking can significantly enhance operational efficiency and compliance. CFOs should encourage real-time logging and define clear policies for consistent time increments, such as 6 or 15 minutes. Mandating detailed work descriptions for time entries further supports accurate billing and transparency.

Regularly reviewing time data is crucial for identifying discrepancies and managing budgets effectively. Adhering to industry-specific regulations, such as DCAA compliance for government contractors or FLSA standards, mitigates legal and financial risks. By leveraging transparency in billing, CFOs can strengthen client trust and reduce disputes, ensuring a smooth operational workflow.

Maximizing Project Profitability and Strategic Decision-Making

CFOs can maximize project profitability by utilizing historical time data for accurate forecasting, budgeting, and planning. Identifying cost sinks and non-profitable work helps optimize resource allocation and improve margins, supporting data-driven decisions for refining pricing models.

Harvest aids in this process by offering detailed project profitability analysis, providing insights into project costs and progress. By understanding team utilization and capacity, CFOs can prevent burnout and ensure efficient staffing, ultimately supporting strategic growth initiatives and enhancing overall financial performance.

Harvest for CFOs

See how Harvest helps CFOs track billable hours for multiple projects, ensuring financial oversight and compliance.

Harvest billable hours tracker dashboard for CFOs.

Billable Hours Tracker for Cfos FAQs

  • CFOs should prioritize features like real-time tracking, robust reporting and analytics, and seamless integration with financial systems. Harvest offers one-click timers, detailed reporting, and integrates with QuickBooks and Xero, making it ideal for financial oversight.

  • Harvest helps prevent budget overruns by providing real-time insights into project progress and costs. With project budgets and alerts, CFOs can manage expenses proactively and ensure projects stay within financial limits.

  • Real-time tracking is crucial because it captures 95-98% of billable hours, compared to much lower accuracy when tracked retroactively. This ensures accurate billing and financial forecasts, reducing the risk of revenue loss.

  • Harvest integrates seamlessly with popular accounting software like QuickBooks and Xero. This streamlines financial operations by automating data flow, reducing manual errors, and ensuring consistency across platforms.

  • Yes, Harvest effectively tracks and reports both billable and non-billable hours. This differentiation helps CFOs understand true project costs and optimize resource allocation for better financial management.

  • Accurate time records are vital for compliance with regulations such as the Fair Labor Standards Act (FLSA). They provide verifiable documentation that simplifies audits, reduces legal risks, and ensures adherence to labor laws.

  • Inaccurate billable hour tracking can result in a 15-25% revenue loss due to under-reported hours. For a professional billing at $100/hour, this could mean losing $15,000-$30,000 annually. Accurate tracking with Harvest mitigates this risk.