Here’s a little formula you can use to work out how much hourly rate bookkeeping is really costing you.
Your hourly rate X weekly hours spent on invoicing X number of weeks you work each year = how much money you’re wasting each year on invoicing.
For me it was 4 hours per week x 48 weeks x $80 per hour $15,630 per year.
$15,630 per year!! That’s crazy. Aka, a terrible waste of time, effort and money.
Then there was that horrible guilty feeling of invoicing the clients for work I’d actually done. Writing off time because I felt bad for invoicing them for the time their bookkeeping took. Or writing off time for team members who were a bit slow.
Or worse… all that time I worked that I’d completely forgotten to log, like random phone calls and switch-tasking.
If you’re so over feeling guilty about invoicing, or losing your own money with invoicing then please, do yourself a favour….watch this video.