Invoice Details: Labor or Expense Discount

When you look on your invoice details, you will see a link: Discount Options. This allows you to apply the invoice discount to either your labor, your expenses, or both.

Invoice Template: Hours Per User & Project

At the bottom of the invoice templates, you will see a little addition that does a big difference to your invoice. It groups the user hours by project.

This way, your user hours will change from this:

…….to this:

Bill4Time has offered just one more way to make this time billing software cater to your individual needs. With the new report templates, you can save any combination of filters and use them again at any time. There’s also a new export feature to the reports. Now you can print out your reports as a PDF or an excel file.

Budgeting Tool

Click on any client in the system and take a look at the client details page. Notice at the top right corner a new button:

Now you can establish a budget for your client and all associated projects for that client. Here’s a screenshot of the what you can do with the budgeting tool:

(Side note: Want to know how we got the firm’s logo on this screen shot? Find out here!)

Attach Receipts

In the Bill4Time system, you’ve always been able to upload receipt images to your tracked expenses.  By including an image of the receipts themselves, there’s an extra element of check and balance. Now with the new feature of including it in your invoice, you reinforce your integrity as a professional with your client. In one invoice, all of your receipts are shown on one document. No extra attachments to the email – no little bits of paper stapled together.

Note: For best results, make sure you initially scan cash register receipts at 100 DPI. To adjust receipts already saved in the system, resize them to about 300 pixels in width and let the length automatically change in proportion to it.

Attach Trust Account Summary

When you include the Trust Account Summary to your invoice template, you have a current record of all of the trust accounting activity during the time span of the invoice for the client’s general trust account and trust account for the matter being invoiced.

Employee Hours Breakdown Summary

At the bottom of your invoice, your client can see the tracked time of all the people who were involved in the project. The rates and total amount billed for each employee is also included. You will see a breakdown of the employee hours per project invoiced and a total number of hours overall.

• Timers –   track billable and internal time
• Entries –   see individual entries with a running daily total
• Clients –   access client descriptions and contact information
• Accounts –  monitor outstanding balances and payment history

I expect that those who visit the Bill4Time site are people who have overcome this fear. Chances are, you’ve decided to take that next step and look for powerful time billing software to move you ahead in your business.

But have you reached a cloud of doubt?  We all need some moments of clarity and validation that we’re heading in the right direction. We all would like a friendly (yet practical) reminder that everything is going to be all right. The answers are out there and opportunity is for the taking.

“I could never be poor if I truly didn’t want to be poor.”

This kind of mantra motivated Weinberg to keep on going. Freelancing isn’t the only solution to poverty, but it’s an option. With this Recession, thousands are unemployed for long stretches of time. If this applied to you, perhaps the only person around to hire you is YOU. You can either apply for jobs or get clients. Either way, you’re selling yourself.

It will only take six months to succeed

That’s a big guarantee! But Weinberg stands behind it. She started with the odds against her: no savings, no clients, and no degree in finance or marketing. She admits that the first two months are the hardest but she also gives an entire six month plan to become a freelancer for you to follow to keep you on track. It’s excellent for beginners, but I also see this plan to be for those already freelancing. There could be some things that you missed that could significantly improve your business.

What are your thoughts about it? Leave a comment.
Better yet, what’s your freelancing story? Email me at Jessica@Bill4Time.com and let’s share it on the site!

To get started with your billable rates per activity, just do the following:

1. Click on “Settings.”
2. Click the “Custom Lists” tab.
3. Click on “(edit)” next to “Billable Activity Types.”
4. Put a check next to “Rate.”
5. Put in the desired rate for the appropriate activity type.
6. Click on the “Save” button.
7. Close the window.
8. Refresh the main screen.

How It Works

Sign up for the Bill4Time Referral Program and when a customer subscribes to either the Bill4Time Lite or Bill4Time Pro, you are eligible to receive a commission. The referral has to either include your name in the “Referred By” section of the sign-up form, or email us that you referred them to us by emailing sales@Bill4Time.com.  The Bill4Time Referral Program applies to all new customers who subscribe on and after April 13, 2009.

What You Get

Commission is based on a percentage of what the referral is paying Bill4Time for the subscription. You will receive a monthly commission of 60% per charge of each user of the referral for the first 6 months, starting with the first month the referral pays for a Bill4Time subscription. Afterwards, you will receive a monthly commission of 35% per charge of each user of the referral for the next 30 months. That’s three years!

A Likely Scenario

Let’s imagine this: if you referred a company of over 4 users and they subscribed for the Pro subscription for an entire year, you can earn over $200 for each of the first three users, and over $100 for each user after that. For only the first four users, you’d be earning an extra $700 a year. And this is just for referring them to Bill4Time.

If the Bill4Time Referral Program appeals to you and you’d like further details, please contact Jessica Eballar at Jessica@Bill4Time.com.

We can argue for the sake of recreation, but you know when you’re wasting time when you know you should be doing something else.

What kind of common time wasters are there? Here are a few stats:

• The average person spends 6.5 hours a week on Facebook. If you access Facebook on your mobile device, you’re probably averaging 13 hours a week.
• The average person spends 8 hours a week on video games. It includes those who do casual games like Bejewelled and Solitaire.
• In 2008, people spent about 2.75 hours a day watching TV. In 2009, it jumped to 5 hours. With the ongoing upward trend of TV watching, we can reasonably believe that now the average user spends more than 5 hours.

The Value of Time

So why care? Well, even though you are not working, you’re time is still valuable. But if you could put a monetary value on it, what would it be. It’s been known that:

• The average person waits about 30-45 minutes for a free ice cream cone (time valued at about $5/hr).
• The average car wash is about $10 for a 5 minute wash (time valued at $120/hr).
• The average time it takes to see a penny off the street and pick it up is 10 seconds (time valued at $3.60/hr).

So do you think it’s worth it to wash your car at home? Maybe it’s better to just buy the ice cream cone and go and spend your valuable time on other things. Perhaps you can leave that penny for someone else.

Some Things are Just Priceless

Time goes by but things add up. It can go both ways. The time wasters can slowly but surely destroy what you’ve worked so hard on. But things of higher value also add up. Try some of these time enrichers:

• Spend some extra time with your family. Something engaging and enjoyable where everyone participates. It could be as simple as baking, back-yard football, or even coloring with your little ones.
• Volunteer in your local community. There is always a non-profit organization that could use an extra pair of hands to help out others.
• Read up on your profession. There are a great many books, publications, and blogs out there than give you that extra edge at work.

Time is valuable. What will you do with yours?

Invoicing Software Update #1

Bill4Time users can now send out multiple invoices to a single client using only a single batch. This is especially useful if you have a lot of invoices to send out, and several clients with multiple projects open.
So when you create a new invoice batch, you will see two columns of check boxes. The ones on the left denote which projects you want included in the batch. The ones on the right denote which ones require a separate invoice. And as before, each client automatically has his/her own invoice.

Invoicing Software Update #2

Whenever you upload an image of a receipt for an expense, the image will be included in the invoice that lists that receipt. This adds further accountability to your professional activities. Just make sure you enable this feature on your invoice template. It is located near the Footer settings on the invoice template settings.

Accounting Organized Per Project

Now, on the project level, you go to the project’s details page and then click on the Accounting tab. There you can see all the cash in-flow (payments received, credit balances) and cash out-flow (invoices sent out, debit balances) exclusively for that project. This way you can keep track of what has been billed and what has been paid throughout the project. You can also receive payments and make balance adjustments on the same screen. Any accounting done throughout the system for any projects is reflected in the project’s details.

Receive Payments Per Project

When you receive a payment, you can allocate it for a certain project. This is particularly useful when a client has given you a down payment but only for a specific project. This way, you can make sure that amount is only used for that one project.

Assessing a Project’s Efficiency

This new feature also makes writing up or writing down invoices easier to use as an efficiency tool. If you charge a set total for labor and expenses, not only can you compare actual amount of labor and expenses to the set amounts on the client level, but now also on the project level. What does this mean? This means you can assess the efficiency and value of your labor/expenses per project. You can quickly go through one invoice after another for this project and easily get an idea of how well you are using your labor hours and sticking to the budget.

For more information on enabling project-level accounting for your subscription, just check out the Bill4Time Knowledge Base.