Practice Management: Are You Capturing All Your Billable Hours?
For many practices, billable hours are among their most valuable resources. Some companies track these hours by taking simple handwritten notes or using the limited time-tracking functions of their existing accounting software. But are these methods enough — or could you be losing billable hours?
Oftentimes, practices are surprised to learn how many hours they’re actually losing. To capture these “lost” hours, many of our clients use Sage Timeslips. If you’re already using Timeslips — or thinking about using this software to capture more billable hours — there’s something you should know: In June, a new version of this product was launched that not only helps you more accurately track your billable hours, but it does so with more features that bring you enhanced productivity and profitability.
Sage Timeslips 2015 Improvements
Sage Timeslips makes it easier for practices to capture more billable hours, increase profitability and productivity, and more accurately bill clients. In addition, the software integrates with popular accounting software programs such as Sage 50 Accounting US and QuickBooks, as well as Microsoft Outlook and practice management solutions such as Time Matters and Amicus Attorney.
With the update, several new features will further enhance your practice, including:
Secondary addresses now available through client information screen. At times, you need to track different addresses for your clients, such as billing and physical addresses. Before, you might have used the “notes” field or “other” field to accomplish this with Timeslips. But these fields don’t offer formatting and aren’t very useful. With the new secondary address field, the address is easily set up and a quick “swap” feature makes it simple to indicate which address is primary.
Watermarks on bills. Watermarks quickly differentiate draft bills from final bills. Before watermarking was available, you may have printed draft bills on pieces of paper that were different colors, but this required the cumbersome process of changing your paper color before printing. The new feature makes it simple to automatically distinguish the draft bills from the final bills.
Enhancements to speech recognition. With voice to text, you can utilize voice recognition to enter details into the description area and free-form text fields such as the slip and accounts receivable descriptions, client in reference to field and notes. This speeds up the process and enhances productivity.
In addition, the new version of Timeslips allows you to create customized lists of activities for clients, generate payment receipts and enhance flexibility with electronic billing.