How Much Does My Hour Cost and How Much to Sell It for?

Product description

Don't know how much to charge for your accounting services? Determining the right price for your services can be a challenge, but with our Excel tool, you will be able to accurately calculate your cost per hour and establish rates that ensure the profitability of your business.

What includes?

Our Excel workpaper is designed to help you calculate and optimize your fees, taking into account all important factors. With this tool, you will be able to:

1. Calculate your available hours
   • Determine how many effective hours of work you have at your disposal in a given period, considering your hours of operation and business days.
2. Identify hours not chargeable to clients
   • Record the time you spend on non-billable activities, such as administration, training, and other internal tasks, to have a clear view of your productive time.
3. Determine the percentage of loadable time
   • Calculate the percentage of your total hours that are directly billable to your clients, allowing you to optimize your efficiency and productivity.
4. Calculate the total cost of compensation
   • Include all costs associated with your work and that of your collaborators, such as salaries, benefits, taxes and other compensation-related expenses.
5. Set the amount of your fees
   • Based on the analysis of your costs and time, determine the amount of your fees per hour and per project, ensuring that your rates are competitive and profitable.

Benefits

• Precision and Transparency: Get a clear and detailed understanding of your costs and set rates based on accurate data, avoiding underestimating your services.
• Resource Optimization: Identify areas where you can improve efficiency and maximize billable time.
• Guaranteed Profitability: Ensure that your fees cover all your costs and provide you with a fair profit.
• Adaptability: The tool is completely customizable, allowing you to adjust it according to the specific needs of your business and collaborators.

Conclusion

Avoid undercharging your clients and losing money. With our Excel tool, you can calculate your fees based on your time and that of your collaborators, ensuring that you charge a fair and profitable price for your accounting services. Don't leave the determination of your rates to chance and ensure the financial success of your business with our specialized working paper.