Transitioning your business: How timesheets can help

According to Robert Reid, director of Syndaxi Financial Planning, businesses not using timesheets by the end of 2011 will have "no chance" of truly knowing how much it costs to deliver their services in time for the introduction of the Retail Distribution Review (RDR). "A business will be better if it uses timesheets," he says. "Everyone else is just crossing their fingers." But how can timesheets help, and are they of any use to firms not planning on charging by the hour? Logging how much time you spend telephoning and traveling to see clients, as well as on chasing providers, can...