Tackle the to-do list

The to-do list is vital for any project, especially those with multiple parts. This sets forth all tasks – big and small – to be completed, and lets you and your employees work on one item at a time, so nothing slips through the cracks.

I recommend: Check out TimeTiger, a "one-click," Web-based time and project tracking system with many benefits, including a track-as-you-work system. There's a free trial download.

Use the top tracking software

Tracking and billing time manually on a project is difficult for even the most organized business. Instead, look to specially designed software to tackle the job for you.

I recommend: One great solution is BillQuick Software - you choose the best version, add-ons, and pricing for your company. The software comes with over 400 invoices and reports. Order their Free Evaluation CD to see if this software will work for you.

Track time and expenses

Check out the various software choices available for project tracking and billing, rather than choosing the first one you find. Look for software that is customizable or small business-focused.

I recommend: Netsuite Small Business can track and process job and customer-related expenses with a single click. Remote employees can track/bill projects from their off-site locations, allowing for quicker cash collection.

Analyze time and billing to estimate future project success

During and after a project is completed, take a close look at how you and your employees used your time and whether this project (and this client) was profitable for your company. Was this project and its time/profitability in keeping with your company's goals?

I recommend: Activity & Expense Tracker includes detailed invoices and reports, and offers a free 10-day trial. Visit Timewatch for scheduling and project management solutions that include tracking and billing projects for your telecommuting and traveling employees.