Category: Billing

Reasons to Bill Your WIP Routinely

Posted on by chimp

WIP (also known as Work in Progress) represents time or costs that have not yet been billed through your billing system. There are many reasons to make sure you are billing routinely, and we’ve included some of the top reasons below:

1) More clarity about your KPIs: Without billing, you may have no idea what your actual WIP and A/R is – and therefore not realizing your income correctly. Both your A/R (or general retainer) may now be over or understated;

2) Client communications – if clients are not kept up to speed and the first bill they get is when they owe more money, that can be an unhappy surprise. Billing on a routine basis allows for more frequent communication. It’s human nature (and optimistic) to assume that things will take less time and cost less not more. By billing more frequently, the client is up to date on the balance that remains of the retainer and will not be shocked when asked for additional funds

3) Less effort during billing process – constantly ignoring your client work in progress until they may have several months worth of billing is far more time consuming to edit.

4) More profitable: When time is “stale” there is often an inclination to reduce or credit the billing, anticipating client objections or dissatisfaction with the delay. By billing more routinely, there is less likelihood that these types of credits will be needed.

5) Cash flow: Often when time is “fresh”, clients are more willing to pay an invoice, especially if work completed produced a favorable outcome. Time from more than 45 days in the past will prompt client questions and oftentimes concern.

How and Why Firms are Switching from Timeslips to Clio

Posted on by chimp

In 2021, Shari was asked to participate in an Experts Panel about why Firms are Switching from Timeslips to Clio. Though it’s been five years, many of the core concepts remain the same.

Some key takeaways:

Adapting to a new system:

– Get buy in from key staff

– There’s no “overnight” solution, it takes planning, patience and commitment to the process

– Invest in training

Common Roadblocks

– Make sure that your data is in good shape prior to conversion (this applies to all types of conversions!)

– Do your due diligence and make sure all key factors (or deal breakers) are reviewed

If you have any questions, or would like to learn more please contact us: https://borekconsulting.com/contact/

Timeslips New Tiers FAQ (Frequently Asked Questions)

Posted on by chimp

We only need one additional license for my existing Timeslips, can we purchase separately?
You cannot purchase a single license of Timeslips Premium and mix with older (Perpetual) versions, you must upgrade the entire installation/database. All licenses must be the same version and on the same Tier.

There are other methods that are possible to import time to Timeslips that may work for your firm. Contact us for more information.

Timeslips Premium is now subscription, does that mean that it is online (in the Cloud?)
No, Timeslips Premium is still on premise – installed on your workstations and not cloud based. The subscription includes periodic feature updates and maintenance fixes.

Is there a Timeslips Cloud (online) version?
Yes, Timeslips Anywhere is Cloud based. Please contact us to discuss the feature set to determine whether this will fit your needs.  There are also many other options that may be worth exploring. We can help you review your options.

My firm uses Funds (Client Retainers) but I only have 2 or 3 users, can I upgrade to the Standard Tier?
The minimum tier level that offers Client Funds is the Pro Level

Can I move up from one Tier to another if needed?
Yes, you can move up from one Tier to another if features you need are in a higher tier.

We have a really old version of Timeslips, will it convert to Timeslips Premium?
Yes! We can assist you if needed (very old versions of Timeslips often benefit from a phased upgrade)

Can we convert our installed version of Timeslips to Timeslips Anywhere?
There is currently no history conversion from Timeslips Premium (or earlier) to Timeslips Anywhere, however you can import matters, open balances, and unbilled time/costs.

We’ve been thinking about adding (or combining) our time and billing with other programs like accounting and/or practice management. Are there programs that can do this?
Yes! We’d be happy to schedule a call to discuss.

How can I get a quote, or get more details about the specific tiers when upgrading Timeslips?
 Borek Consulting would be happy to provide additional information including quotes. Please give our office a call or Contact Us

Timeslips Announces New Pricing & Subscription Tiers

Posted on by chimp

Timeslips made significant changes to their pricing and subscription model as of June 2, 2021.

To give a bit of history: while Timeslips has been around for over 30 years, until 2017 the only option was a traditional “perpetual” model that was released each year (i.e. Timeslips 2009, Timeslips 2015). Once owned, upgrading was optional (though encouraged), and typically the current and 2 previous versions were considered supported versions.

Beginning October 1, 2020, the perpetual version of Timeslips was no longer offered. The only option available now is Timeslips Premium, which is subscription based and requires annual renewal. Since the initial release of Timeslips Premium in approximately 2017, the major differentiators in the former Silver, Gold, or Platinum plans focused primarily on support options. With the newer Premium Plans, the differentiators are primarily focused on features and functionality. There are now 4 tiers available:

Starter (starts at $657/year)

  • Maximum one license can be installed (note this is not related to the number of timekeepers, but the number of workstations where Timeslips is installed)
  • Has the most limited set of features

Standard (starts at $1,250/year**)

  • Licenses capped at 4 Licenses (**at additional cost per license)
  • Includes additional features such as TALPro (Link with Quickbooks), Custom reports and more
    Includes 1 Timeslips GO License

Pro (starts at $1,659/year**)

  • Unlimited Licenses can be installed (**at additional cost per license)
  • Includes Client Funds (Trust Accounts), Fee Allocations, Split Billing, Calculated Fields, and more
    Includes 2 Timeslips GO Licenses

Elite (starts at $1,851/year**)

  • Unlimited Licenses (at additional cost per license)
  • Includes Ability to Undo Multiple Bills, Bill reminders, mail merge, and more
    Includes 3 Timeslips GO Licenses

How to Choose?
For firms new to Timeslips, it will be a fairly simple process of choosing the tier and functionality that they need. For upgraders, the situation is more complex, as they currently have a version that is not limited and will need to evaluate which tier matches their current (and future) needs. A detailed review of the features in each level is important to choose the appropriate Tier.

What Next?
If you would like more detailed information or to have a quick conversation about your options, please give our office a call or Contact Us.

Last Call for Timeslips 2020

Posted on by chimp

In case you have missed the calls, notices and emails, in October 2020 Sage Timeslips announced their transition to a Premium subscription only version. This seemed like a different lifetime ago (as all pre-Covid things do), however the reality is that we are now well past “Last Call” for non-subscription versions of Timeslips.

Timeslips 2020 is no longer available for purchase, nor are add-ons such as additional licenses or electronic billing. This may be a good time to evaluate the benefits of upgrading to Timeslips Premium, or considering practice management and/or cloud based solutions.

Beginning October 1st, only Timeslips Premium will be offered as an option. With the annual subscription, Timeslips periodically issues updates which include new features as well as maintenance fixes. One of the more popular Premium new features includes the ability to undo more than one invoice per client, a long requested function.

If you would like to discuss your firm’s specific needs, please reach out!

Making Timeslips Tasks or Timekeepers inactive – AKA “They should Have a Warning Label for this!”

Posted on by chimp

I recently assisted a client who had made some Timeslips activities inactive.
There were several “a-ha” moments during our conversation:

1) When you make tasks or timekeepers inactive in Timeslips, not only do the tasks/timekeepers get removed from the list, ALL slips associated with those items also get made inactive. This means that the inactive slips are not available for billing, history bills and will not appear in slip lists. They may also not be available for reports depending on your criteria. This can have a big impact, especially if you have unbilled time or costs.

2) However, unlike with purging data or other critical functions, there is no Timeslips warning when making tasks or timekeepers inactive. So firms often try this to trim their list of activities or remove former staff and do not realize the repercussions.

3) Instead of making the items inactive, try the low-tech option of adding a “z” in front of the task/timekeeper name. Since Timeslips shows these lists in alphabetical order, this will force the items to the bottom of the list, where they are less likely to be noticed or chosen.

This client was very fortunate for two reasons – because the process had gotten stuck, they reached out to me and I was able to educate him on the consequences. Secondly, because he had made a backup prior to starting the procedure and the process freezing, it was very easy to restore the backup and resolve the issue. Always make a backup before making a big change to the database!

Last Call for Timeslips 2019 Additional Licenses

Posted on by chimp

Timeslips 2019 support will end as of April 30, 2019. While this does not mean that Timeslips 2019 will stop working, for those firms who own this Perpetual (non-subscription) version of Timeslips, this means:

No further maintenance support releases will be issued
Add-ons such as additional licenses, E-Center, or LEDES electronic billing cannot be purchased**
Sage technical support will not be available.

**Important Action**

If you believe that your firm may need additional licenses within the next 6-12 months and you would like to continue with Timeslips 2019, I would highly recommend doing an anticipated “head count” and purchasing the additional licenses before April 30th. Please contact our office to do so, as only certified resellers such as Borek Consulting are authorized to sell Timeslips 2019 additional licenses.

As always, you have options available:

Upgrade to Timeslips 2020. This is the last version of Timeslips that is perpetual (owned). However, it’s important to note that Timeslips 2020 support will also end within the next 6 months (September 2020). At best, this is a short-term solution.
Upgrade to Timeslips Premium, the subscription version of Timeslips. New features will continue to be released periodically (in fact, the most recent update is March 2020). This requires annual renewal.
Continue with Timeslips 2019. Work with Timeslips certified consultants such as Borek Consulting when needed.
Transition to a different product.

We are happy to discuss any of the above options with you.

Best “New” Feature in Timeslips

Posted on by chimp

Recently, I’ve been upgrading a lot of firms to the latest version of Timeslips (see my blog post: https://borekconsulting.com/2019/07/the-end-of-timeslips-perpetual-licenses-is-near/). As with all my upgrades, following the conversion, we have a training session which includes both new features, and features I typically call “New For You”. These are functions that may not currently be in use at the firm, but have existed in their older version of Timeslips. Examples might include streamlining processes, customization, reports, shortcuts, etc.

Last week, a firm I was working with was absolutely delighted with the Timeslips feature of Abbreviations, which allows staff to use shortcuts to expand words, phrases, and sometimes even full paragraphs. This is a big time saver, especially when using the same terminology over and over again. They had not used this previously, and considered this one of the best new features. While the reality is that Timeslips has had this feature for over 25 years, it was new to them!

Carving some time to review features and tweak your use of Timeslips can make you and your staff more productive (even without an upgrade). We’re happy to help if you want to schedule an appointment.

What to do if you have an older version of Timeslips

Posted on by chimp

I’ve had many conversations since Timeslips recently announced policy changes. After 30 years of being a “Perpetual” product that is owned by the users, Timeslips has announced that moving forward Timeslips Premium (subscription based) will be the only product sold through its direct sales channel. This has caused some confusion for folks. What are the options?

Here’s a quick summary:

Stay with your current version of Timeslips. Currently, Timeslips only supports Timeslips 2019, Timeslips 2020, and Timeslips Premium. Your older version will still work, however you cannot get additional licenses, purchase add-ons, or get official technical support. Timeslips Solution Providers such as Borek Consulting Group can still provide support for your older version. We can generally handle your issues (though there are exceptions, especially with newer Windows or servers.). And if the software breaks due to a Windows Update there may not be many options available.

Upgrade to Timeslips 2020. For a limited time, we can upgrade your existing Timeslips to Timeslips 2020 – the latest (and last) version that is Perpetual (owned) and not subscription. Only Solution Providers can offer this option (not Sage direct). Contact us with the number of licenses you currently have, and we can assist with a quote.

Upgrade to Timeslips Premium. This requires an annual subscription, it includes new features being added to Timeslips Premium several times a year (vs. the once a year upgrade). This is a good option for those who want to be able have a consistent budget each year for software, and/or those who like having the newest features available.

Consider Alternatives to Timeslips. If you are considering cloud based software, or would like to have an all in one solution that has both practice management, and time & billing or accounting, this is a great time for a software evaluation and selection. Borek Consulting provides software selection as a service and we’d be happy to review available options. The initial call is complimentary.
As always, feel free to reach out if you have any questions!