Previously, we showed you how to gather a retainer in BillQuick Online. Then we showed you how to gather time and expenses from your staff and/or sub-contractors. Next, we showed you how to review their time and expenses. Now I we’re going to show you how to bill time and expenses in BillQuick Online. This is the next step in learning accounting for law firms in the cloud.
The extreme beauty of this is that I can be anywhere and enter my time, and the billing manager can approve the time and expenses from anywhere. Thus accounting for law firms in the cloud, just like any other business provides some powerful advantages and creates efficiencies that would not be possible otherwise.
Once we are ready to do our billing in BillQuick Online, we go into the billing review. Here we can review and approve any unbilled time and expenses.
Setting up the approval workflow in BillQuick Online is easy. Let’s say you have a billing manager who reviews and approves the time and expenses in BillQuick Online. They can approve and submit that information to (eg) a Partner who may want to lay final eyes on it before it goes out to the client. Then once approved, you can send it to the client.
In the video for this topic, you are also going to see the invoice template, and I think you will agree that it is very professional, but most importantly, it makes it very clear exactly what the client is being billed for. There is also a summary at the bottom that will show any previous balance, payments and what the total amount due on the project is.
I’ve taken the time to break these components of the time and expense billing process down so that you can see how easy it really is when you do break it down this way. As always, I welcome your comments and questions below.