{"id":49879,"date":"2016-09-20t05:00:52","date_gmt":"2016-09-20t09:00:52","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=49879"},"modified":"2017-06-01t10:58:02","modified_gmt":"2017-06-01t14:58:02","slug":"better-way-handle-te","status":"publish","type":"post","link":"\/\/www.g005e.com\/2016\/09\/20\/better-way-handle-te\/","title":{"rendered":"a better way to handle timesheets & expenses"},"content":{"rendered":"

\"time<\/a>this means the owner, too.<\/strong><\/p>\n

by roman h. kepczyk<\/i><\/p>\n

studies done over the past two decades have clearly shown that there is a significant improvement in realization for firms that enter, release and post time and expenses on a daily basis.<\/p>\n

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this process allows for daily or \u201chotel\u201d type billing, which is sent out with the completion of each billable project.
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\nthe next step in the evolution of time and billing systems provided real-time dashboards to report on firm activities and effectively allow firms to generate invoices. this can work only <\/em>if all time and expenses for all personnel are captured within the system.<\/p>\n

while most firms have a daily time entry \u201cpolicy,\u201d the biggest abusers of the policy are owners and managers, so it is about time for them to get on board and use the system.<\/p>\n

67 percent of firms are preparing the majority of invoices onscreen rather than using manual billing sheets and 35\u00a0percent deliver invoices electronically.<\/p><\/blockquote>\n

as we keep stating, all professional staff today have at least dual monitors and the majority have the screen real estate of three or more. this allows users to have their timesheet open at all times and enter information throughout the day, so that it can be reviewed and released before walking out the door.<\/p>\n

this will require training and some adjustment on the owner\u2019s part, but this is a first and most critical step when moving to daily billing and reporting. if management doesn\u2019t get on board, they are wasting any investment in a new time and billing system. this choice can diminish the value of their practice.<\/p>\n

once everyone is on board with \u201clive\u201d time and expense capture, the firm will be in a position to create an invoice with the completion of each project. these time-capturing systems support both on-screen entry and on-screen invoice generation.<\/p>\n

with this information immediately available it is recommended that the \u201cin-charge\u201d for a client generates the invoice and the owner can then approve it on-screen for administration to process. by doing daily billing, the majority of invoices will<\/p>\n