Track Billable Time in Financial CentsNow you can easily track billable and non-billable time in Financial Cents for admin and billing purposes! This new update includes the following:
- The ability to set a billable rate on workflow projects and templates
- Insights into how much time you are spending on billable vs non-billable work and how much to bill your clients
Adding Billable Rates to ProjectAll projects are automatically assigned a billable rate of “$0.00” when time is recorded at a rate of “$0.00” it is considered non-billable time. To adjust the rate for billable work you can easily click the “$0.00” and set your rate. After doing this all-time recorded on that specific project will be labeled as billable time with the new rate. Tip: You can add your billable rate to workflow templates so the rates will automatically be added to the projects created by your staff.
Billable vs Non-Billable Time & Invoicing InsightsWith the new update, we also added a few metrics that will help you better understand where your firm is spending its time (billable vs non-billable) and how much you need to invoice your clients. You can view the following metrics on a client, project, and staff basis:
- Logged Hours: The total amount of time logged (billable and non-billable)
- Billable Hours: Only the amount of billable time logged
- Billable Amount: The amount of money to bill your client, which is calculated by multiplying the billable hours by the billable rates.
Automate client data collection & hit your deadlines today!