It's About Time

Help with Electronic Billing for Law Firms in the U.K. as well as the U.S.

We can now provide assistance to Timeslips users in the U.K. as well as the U.S. with our flexible hours and remote, on-line support options. 

More and more of your clients are requiring you to submit your bills electronically using the LEDES or one of several other electronic billing formats.  It's as simple as purchasing the electronic billing option for Timeslips.  Let Compu-Aid help you with the set up and transmission.  Call (561) 416-9288 or email me at joanh@compuaid-inc.com.

Save Money - Enter Your Time Daily

Did you know that people that enter their timesheets once a month spend more than twice as much time on the process as those diligent souls that enter their time every day?  Not to mention the loss of accuracy when entering time just once a month. 

Timeslips has the TS Timer option that allows you to "start the clock" instantaneously from the system tray on your desktop. Use the TS Timer if you want to capture more billable time as well as save time on data entry.  

If you are interested in reading more about timesheet entry statistics, click here

Timeslips Installation and Reinstallation Codes

When you first install your Timeslips program or upgrade, You are prompted to print and save the installation and reinstallation codes.  I've know some people who do exactly as told.  They print out the installation codes and place it in the case or box with the original Timeslips software.  However, that doesn't always happen.  The only time this becomes super important is when you need to reinstall your Timeslips:  hard drive crashes or the computer gets replaced.  What's the alternative?

Now might be a good time to do this:  Open Timeslips, click on Help, About Timeslips.  Click on the Support button at the bottom of the screen.  This will bring you to the statistics screen.  You will see your installation code, reinstallation code and serial number.  You can view this in text mode and print it out; put it in a safe place and/or save it on your hard drive.  If you save it on a hard drive, I would recommend saving it both on the server as well as a local hard drive.  In the event the server crashes, you will have a copy on the local drive.  

There is one other place you can find the installation and reinstallation codes if you can't open your Timeslips program, but can still access the Timeslips program folder on the server.  Look for a file called TSCODREIN.TXT.  This file has the same information that can be found in the data statistics in your Timeslips program. 

Bottom line:  print a copy and keep it with your software CD.  You won't be sorry. 

Timeslips and Windows 7 Installation Tip

If you are installing Timeslips on a Windows 7 workstation, make sure you turn off the UAC.  This is a security setting in Windows 7.  If you are not sure how to do this, I suggest you contact your hardware technician for more information.

Link Timeslips to Your Accounting Program

Timeslips has two, free built-in utilities:  TAL and  TALPro that are designed to link your transactions in Timeslips to the General Ledger of either QuickBooks or Peachtree.  If you don't use either of these programs for your accounting, you can still use TAL to generate a General Ledger Account Transfer Register report that will provide you with the summary figures to enter manually to your General Ledger.  It is important to note that the link is primarily between Timeslips and General Ledger.  For example, if you create an invoice in Timeslips, that same invoice will not be automatically created in your accounting program.  You will not be able to run an Accounts Receivable Aging report in your Accounting Program.  Timeslips is essentially a replacement for the Accounts Receivable program in QuickBooks or Peachtree.

If you have Timeslips 2009 or earlier, you will need to enable TAL or TALPro in the Setup, Features Enabled.  If you have Timeslips 2010 or later, click on Setup; Accounting Setup to choose the type of Accounting Link.  Which one should you choose:  TAL or TALPro.  If you are not linking to QuickBooks or Peachtree, your only option is TAL, which will give you the information to make manual entries to your General Ledger. 

If you have QuickBooks or Peachtree, I recommend TALPro, which will give you additional options not available with TAL.  TALPro has a two-way link between expense (accounts payable) entries and Timeslips.  It can create expense slips in Timeslips.

During the setup process, Timeslips links to either your QuickBooks or Peachtree General Ledger accounts.  You will assign the appropriate GL account number to the Fees and Expenses that are shown on the set up screen.  This is the account information that Timeslips will use to make the journal entry in the accounting program. 

Find New Features in Timeslips

If you have upgraded from a very old version of Timeslips, it is sometimes difficult to find all the new features that have been added to Timeslips since your last upgrade.  Even with the newer versions, it's not so easy to find everything that has changed in the new software. 

Timeslips has provided all this information under the Help button.  Just click on "Help", then select "What's New".  You will then be presented with a list of hyperlinks to new features in every version since Version 9.1. 

Upgrade Now or Wait for New Release

Almost all software manufacturers have a scheduled release of new software every year.  Some of them release software the same time every year.  Others are less predictable.  If you have owned the product for a number of years, you probably already know when the new release will be coming out.  In the case of Timeslips, the new release is almost always in the late June to early August time frame. 

So, now you are thinking about an upgrade.  Maybe you want to purchase new computers with Windows 7.  The general rule is that old software versions won't run on new operating systems.  After all, that old software was created years before the new operating system was available, so, naturally, there was no testing.  And very few software manufacturers will take the time to test old software.  They have their hands full with current versions and future releases. 

Should you upgrade your software now or wait?  First, you want to find out from a reliable software consultant when the next software release is scheduled.  Once you know that, you can determine how close you are to the end of the current version's life cycle.  You might also be able to find out what the new features are.  All this information can help you make a decision.  Here are some other factors:

• Your hard drive just crashed and you need to replace your computer...NOW.  In that case, you will probably need to order the software upgrade that is available right now, unless you want to downgrade your new computer to an XP.  If you are very close to the new release date, some software manufacturers will ship the new software at no charge when it is available.  You should always ask if this is available.  They might not offer it automatically.
• A software version that has been on the market for more than 6 months probably has all the major bugs fixed and is considered stable.  You won't spend a lot of time trying to figure out if it's you or the software that is causing the problem.
• New software releases always have a period of time after the initial release where a number of "issues" are discovered; sometimes major; most of the time just annoying. 
• New releases often have "pricing specials" that are offered just prior to the release date.  These are generally great deals.  You can take advantage of the special price and wait for a couple of Service Releases before you actually install.
• Software that has been on the market 6 months or more is generally sold at the full retail price.

Speaking of software prices....beware of some of those super-low prices that you see on the Internet....Well,  I think I will leave that for another time and topic.

Timeslips 2011 Prices and Ordering information

Show a Previous Balance on a Timeslips Invoice

You may have some clients that you want to send a bill that shows a Previous Balance and other clients that you only want to show the current charges on the bill. 

This will require two different bill layouts.  You will assign different bill layouts to your clients depending on what information you want on the bill.

Start by duplicating the current layout.  From the tool bar, select Bills, then Bill and Statement Layouts.  Select the bill layout you want to duplicate and open it in the Design view. 

Next, click on Layout and select Duplicate.  You now see the name of the layout changed to "Copy of .....".  This is a copy of your original layout.  You can rename it by simply typing over the "copy of"  name. 

To change the Previous Balance Option, you will need to select Section from the toolbar.

Select Configure Layout Sections from the drop-down list

 

Scroll down the list until you see the Previous A/R Balance option.

If you want to show the balance on this bill layout, simply, check the box.  If you do not want to show a Previous Balance, leave the box unchecked.

Save the layout. 

Your next step will be to assign the new layout to specific clients.  You can do this easily by opening a client in Client Information.  Go to the Layout tab and select the new bill layout.  

If you want to assign the layout to several clients, an faster method is to select Bills from the toolbar and then select Bill and Statement Layouts.  Just click on the Assign button and check all the clients that should have the new bill layout.

Timeslips "Suspense" Account

If you use TAL or TALPro to link your Timeslips to QuickBooks or Peachtree, you probably have seen the "Suspense" account on the list of account types that can be linked to the General Ledger in your accounting program.  Just what is the Suspense account used for?

If you accept a payment from a client before you actually send an invoice or you receive an overpayment for an invoice, you probably check the box "Apply to future invoice"  in the cash receipt screen.  When this transaction is sent to the General Ledger, it posts a debit to the Cash operating account and a Credit to the Suspense account.  Once you have invoiced the client, the entry to the Suspense account is reversed.  The Suspense account is debited and the Income account is credited.  I always think of the Suspense account as an "accrued accounts receivable".  It is actually a liability until the client is invoiced, at which time, it becomes income. 

In most states, law firms are required to deposit advance deposits or retainers into a separate Client Trust bank account.  In Timeslips, you would be making a Deposit to Account in the Funds Transaction area.  You do not enter these cash receipts in the Accounts Receivable Payment Transaction area of Timeslips, but rather in the Funds Transaction area.  Timeslips has a totally different method for handling retainers and advanced payments that are kept in a Trust account.

How many Timeslips Licenses Do You Own?

When it comes time to do an upgrade, the question always arises:  How many Timeslips licenses do we own?  The answer can be found right there in your Timeslips program. 

To find out, just download the attached document.

Download License Count