Time is Money: Mastering Time & Fees Management in Your Accounting Practice
In the fast-paced world of UK accountancy, one principle remains constant — time really is money. How effectively you track and bill your time can be the difference between a thriving, profitable practice and one that struggles with cash flow and resource allocation.
Capium’s Time and Fees module gives accountants the tools to master time and fees management, ensuring accurate client billing, maximising profitability, and providing full transparency over billable hours.
The Challenge of Time & Fees Management
For many firms, the process of logging hours, allocating fees, and ensuring client invoices are correct is still overly manual. This often leads to:
- Unbilled work slipping through the cracks.
- Over-servicing clients without fair compensation.
- Cash flow delays due to inaccurate or disputed invoices.
According to an AccountingWEB survey, up to 20% of UK accounting firms admit they underbill clients due to poor time tracking and manual fee management processes.
How Capium’s Time and Fees Module Solves These Issues
Capium’s integrated approach means time recording and billing are fully aligned with your wider workflow. Key features include:
- Real-time tracking of billable hours – No more relying on memory or paper notes; log time as you work.
- Automated fee allocation – Assign fees to specific tasks, clients, or projects without double entry.
- Customisable billing structures – Fixed fees, hourly rates, or blended models — all supported.
- Instant invoicing – Generate and send invoices directly from the platform, improving cash flow.
Boosting Profitability Through Accurate Billing
Accurate time and fees management in accounting doesn’t just prevent revenue leakage — it creates opportunities for better pricing decisions and client relationship management.
For example:
- If a particular service consistently takes more hours than estimated, you can adjust your pricing or improve efficiency.
- Transparent reporting builds trust with clients, as they can see exactly what they’re paying for.
Fact: A PracticeWeb report found that firms using automated time-tracking software increased billable recovery rates by an average of 15% within the first year.
The Integration Advantage
Because Capium’s Time and Fees module is part of a unified suite, it integrates seamlessly with:
- Capium Accounts Production for accurate year-end reporting.
- Capium Pay for faster client payment processing.
- Practice management tools to analyse staff performance and resource allocation.
This means no data silos, no double-entry, and a consistent view of your firm’s financial performance.
Best Practices for Time & Fees Management in Your Firm
To get the most from tools like Capium’s module, UK accountants should:
- Record time daily – Accuracy drops sharply when logged retrospectively.
- Analyse billing trends quarterly – Identify unprofitable services or clients early.
- Be transparent with clients – Clear breakdowns reduce disputes and late payments.
- Review utilisation rates – Ensure staff are working on billable tasks as much as possible.
Why Time Really Is Money for Accountants
In an environment where margins are tight and competition is high, the firms that master their time and fees management gain a decisive edge. By combining accurate tracking, smart billing, and integrated financial workflows, you’re not just saving admin time — you’re directly protecting and growing your bottom line.
Capium’s Time and Fees module offers UK accountants the precision, automation, and insight needed to ensure every billable hour counts and every invoice reflects the true value of the work delivered.
