Are you billing it right the first time?

Especially in professional services, billing can get a little complicated since each client wants a different level of detail. Team members enter their own time and notes on their timesheets, and when mistakes on invoices make it to the client, it creates a world of problems:

copie bureau

An invoice that’s been produced can’t be changed. It needs to be credited and re-created. It’s not just about having a process for invoicing. It’s about having a process for everything from time sheets to the delivery of the invoices.

Time sheets should be approved by the project manager or the account manager for that client. This helps detect errors right from the start. If someone has accidentally billed their time to the wrong client, the approver will see it and get it corrected before it gets to billing.

Invoices should follow a standardized format, where constant element are always there, such as taxes, payment terms, contract or purchase numbers, etc. This avoids looking unprofessional to the client by providing a stable “frame” to the invoice.

This 3-step process creates accountability for all actors: team members who fill out their time sheets, project managers and account managers who know best what should and should not be billed, and the administration team, who keeps everything neat and professional.
Abak 360 is the ideal tool to establish this kind of process because it combines project and time management as well as billing, all on the same IT platform.

How to choose the right time management solution? First, answer these twelve crucial questions

iStock_000010252255MediumBefore starting your search for a time sheet, invoicing and project cost management system, several requirements must be established to help you narrow the choices down and make sure you are looking for what you really need.
Besides the software’s features and pricing, several other criteria should be included in evaluating solutions: usability, scalability, customer service, etc.
Your search criteria can be specified in the list of questions below:

  1. Do I only need a simple time sheet and expense report application, or a centralized, integrated solution?
  2. How reliable is my current time sheet and expense report system? How do I control my projects’ profitability?
  3. Should the solution allow for project management and project budget control?
  4. Should the solution allow complex project structures, with phases and sub-tasks?
  5. Should the solution allow for setting budgets at the task level within a project?
  6. Should the solution allow for both billable and non-billable items, should it support cost and sell rates?
  7. How flexible should the software be when it comes to rates? Should it allow special rate per project, per task, per employee, per time period, per role?
  8. Should the solution integrate with your accounting system and payroll?
  9. Which reports will you need to manage your projects? Can the solution provide those reports?
  10. Can your invoice formats be reproduced within the solution?
  11. How closely should your software vendor work with you? How will you add/remove licences, customize reports and invoices?
  12. Will you need a web-based interface to log time and expenses?

By asking yourself these questions, you will be able to focus on the type of time and billing management software that suits you best. The Abak 360 Software can fulfill all your expectations and can also bring many benefits to your company with its numerous specificities regarding every aspect of invoicing.