Time tracking for entrepreneurs is not only useful for gaining insight into time worked, but is also crucial for tax benefits and efficient administration. Yet, many entrepreneurs find it difficult to maintain this systematically and without errors. In this article, you will read why time tracking is important and how you can easily automate it.
The importance of time tracking
Correct time registration for entrepreneurs is necessary for:
- tax benefits: think of the self-employment deduction, for which you must be able to demonstrate at least 1.225 hours per year
- Billing: ensure that you only pay your clients for hours actually worked
- EfficiencyInsight into how you spend your time helps you plan better and work more productively.
- Financial Overview: through detailed time tracking, you maintain control over your costs and revenues
- TransparencyClients and customers can count on a clear accounting of hours worked.
Common mistakes in time tracking
Many entrepreneurs make mistakes with their time registration, such as:
- Forgetting to keep track of hours, resulting in important work time not being recorded
- Manual administration, which is error-prone and time-consuming
- Do not distinguish between billable and non-billable hours
- Inaccurate input, which can lead to disputes with clients or the Tax Authorities
The solution: automatic time registration
With a digital tool like TrackJack, time tracking becomes simple and accurate for entrepreneurs. You no longer have to keep track of anything manually yourself. The benefits:
- Automatic tracking: no more manual input needed
- Overviews and reports: direct insight into your worked hours
- Integration with invoicing: save time when preparing invoices, for example via the connection with Rompslomp
- cloud storage: access to your time tracking anytime, anywhere
- Less administrative burden: more time to focus on your work
Time registration and the Tax Authorities
As an entrepreneur, you need a minimum of 1.225 hours per year to qualify for the self-employment deduction. The Tax and Customs Administration may request proof. Accurate timekeeping is therefore your only safeguard. Without an overview, you run the risk of your tax benefit being denied.
TrackJack automatically records when you drive for work, combined with your timekeeping. This way, you always have a complete and reliable overview. Read more about TrackJack's fully comprehensive time tracking.
Frequently asked questions about time tracking for entrepreneurs
How many hours do I need to register per year for the self-employment deduction?
You must demonstrate that you have spent at least 1.225 hours per year on your business. This applies to the Tax and Customs Administration's hours criterion. Always ensure you have conclusive records as proof.
Do I also need to record travel time?
Yes, travel time for business trips counts as hours worked. With TrackJack, you combine trip tracking and time tracking in one system.
Can I also export my hours for my accountant?
Yes. TrackJack exports reports as PDF or Excel, ready for your accountant or tax return. Read more about exporting mileage logs.
How long do I have to keep my time records?
The statutory retention period is 7 years. TrackJack automatically stores your data. Read more about the retention period for your records.
Track hours automatically and error-free?
With TrackJack, you automatically record hours and trips, ensuring you always have insight and are ready for the Tax Authorities or your accountant.
Related knowledge base articles
- Fully comprehensive time tracking from TrackJack
- Hassle and TrackJack connection
- Export trip log to PDF or Excel
- Keeping track of mileage, everything you need to know
- Mileage allowance for self-employed professionals
- Retention period for Tax and Customs Administration records
- All about GPS tracking
Tip: With the TrackJack PRO Fiscaal , you automatically register all your trips – tax-approved and recognized by the Tax Authorities. View the PRO Fiscaal in our webshop →
