Every business generates income by selling something. In Actionstep Practice Management, time spent working on a matter is most firms' major billable item.
To help you get the most benefit from this, review the following options available to you in Practice Management:
- Use the Matter Billing workflow to invoice your clients. When direct charges to clients for purchases occur, they will be available in Matter Billing once purchased. (See Setting Up Billing for a Specific Matter for more information.)
- Ensure the rate sheets are set correctly. (See About Rate Labels and Amounts for more information.)
- Set your billing preferences for the information you require on output. (See Configuring Your Billing Settings (Admin) for more information.)
- Check to make sure your invoice templates have been tested and function with your billing preferences. (See Working with Invoice Templates for more information.)
Then, when your clients pay for these service, you have a few options:
- Receipt the payment using trust accounting.
- If trust accounting is not an option, receipt the payment using the accounting module where multiple deposits can be receipted in one screen.
Once you have completed both your billing and your bank reconciliations, send your account statements. (See About Account Statements for more information.)
Updated