Articles

In professional services, project success lives or dies by how well you manage time. But it’s not just about timesheets. Each month, Project Managers must juggle four interlocking types of time:

1. Budgeted – The original plan
2. Timesheeted – The actual time worked
3. Invoiced – What’s charged to the client
4. Billed – What’s charged by subcontractors

The moment you compare Timesheeted with Budgeted time, you’re faced with the classic dilemma:
Do you charge for overspend? Underspend? Or stick rigidly to the agreed budget?

Your subcontractors face the same question, and what they bill you may not always match what you expected.

It’s a complex, ongoing balancing act that must happen every month. And it’s not just project managers who care. Founders and directors—often the shareholders—need tight control across the portfolio to protect margins, cashflow, and long-term business value.

Whether you’re building a sustainable company or planning for a future sale, tight project control is essential.

Aedon.Accounting was built for this.

We help professional services firms keep a tight grip on time, money, and margin—across every project, every client, every month.

👉 Explore our blogs at aedon.co
👉 Or start with our purpose-built PSA accounting software