Rate Options and Setting up Your Rates

One of TimeSolv’s greatest strengths is its flexible rate structure. Even businesses that consistently use the same billing scale occasionally encounter exceptions, and TimeSolv is designed to accommodate those changes. This frees you to focus on your work, instead of manipulating your time and billing system to fit your specific needs.

Let’s take a closer look at your rate options and how to set up your rates.

The first step is creating timekeeper default rate codes, which is done under the account profile of each timekeeper. For each rate, you will enter a billable amount on each timekeeper’s Profile page. Failure to enter corresponding amounts will result in timecards with 0 value for that timekeeper.

When you enter details for a new client, you must indicate which rate by to apply (you can create unlimited rate codes using Global Rate, if you’d like). By default, timekeeper default rate is applied each time you make a time entry for this client. However, there are additional, project-specific options. A rate set up at the project level overrides a rate at the client level. Thus, you can bill multiple projects for the same client at different rates. Each time you create a new client, you can choose which rate to be applied to the project, or you can restrict the project to the hourly timekeeper rate.

Different Rates that can be applied

  • Timekeeper Default
  • Task then Timekeeper Default
  • Global Rate
  • Task then Global Rate
  • Matter Rate
  • Task then Matter Rate

To review, make sure you:

  • Create codes for all of your timekeeper rates.

  • Assign values for each code. These are entered on the Timekeeper Profile page. Refer to the Timekeeper Profile section for instructions.

  • Create codes and assign rate amounts to all tasks. This information is entered on the Activity page. Refer to the Activity Setup section for instructions.

  • Select the appropriate code for the client, when creating a new client.

  • Specify whether the corresponding client rate code should be used or if a task rate should be allowed when creating a new project. This is a required field.

  • Select the appropriate client/project when making a time entry. The rate code you designated on the Rate Code page automatically applies. If you choose to allow a task rate for this project, you may choose from the possible tasks. The appropriate task rate will apply to the time entry.

Import/Export

To access the Import/Export page:

  • Click the Account tab
  • Click the Import/Export link
  • To import click the Import Excel tab

Import Tab

  • To Export, click the Export Excel tab

Export Tab

  • To create back ups, create the Backups tab

backups

  • To download TimeSolv QB Sync, click the QuickBooks tab

import export

 

  • Click on the AccountEdge tab to export

AccountEdge

 

Logo Size

How to resize a logo to fit perfectly on the invoice header?

In order for your firm logo to fit perfectly on the invoice header, it may need to be resized to a width of 7 inches. Follow the instructions below to exactly resize a logo to be 7 inches wide using Irfan View software.

  • Start with a logo that is bigger than seven inches
  • Auto crop the logo to remove any white space around the text or graphic. Save the logo in .gif format.
  • Try to upload the over-sized logo under Account>>Settings>>Logo sub tab
  • TimeSolv will display a warning indicating that the logo is 8.123235 inches and it is too wide and it could not be uploaded. Maximum width of logo can be of 7 inches
  • To convert a logo to be of 7 inches wide, take 7 divided by 8.123235, the displayed width and calculate the reduction ratio to be 0.861726. Use a rounded number of 86%
  • Using Irfan View, reduce the size of the logo by 86% and end up with a perfectly sized 7 inch wide logo

Timekeeper – Permissions

Any timekeeper specific permissions are assigned here:

Select Account>Professionals>Select the Timekeeper name>Permissions Tab

 

permissions

Timekeeper – Hourly Cost

This tab defines and lists the hourly cost records of a timekeeper:

Go to Account>Professionals>Click on Timekeepers name>Hourly Cost

 

  • Click the New Hourly Cost to create a record
  • Click the Start Date of the existing record to drill into a record to edit it
  • Click the Delete link to delete the hourly cost record

 

Hourly Cost

Enable Commissions

To enable commissions and access commission reports:

  • Go to the Account tab
  • Go to the Settings tab
  • Enable the Enable Commissions? check box

Account Settings (2)

 

 

  •  Provide the required values in the Fixed Holdback Amount Per Invoice and Percent Holdback Per Invoice fields

To specify the commission settings for a timekeeper:

  • Go to the Account tab
  • Go to the Professionals tab
  • Search for the desired professional. On the professional’s Profile tab, specify the desired values in the Commission PercentCommission Manager and Commission Manager Percent fields

Commission

Terminology Setup

TimeSolv uses certain terminology by default, but you can customize the language used in your account so it best reflects your profession.

To set the terminology:

As a firm admin, click the Account>>Settings>>General sub tab to define the terminology for:

  • Firm Label
  • Timekeeper label
  • Tax Label

TimeSolv Account Settings

As a firm admin, click the Clients>>Settings>>General sub tab to define the terminology for:

  • Client Label
  • Project Label

For TimeSolv Project firms:

  • Plan Phase Label
  • Plan Task Label
  • Plan Milestone Label

For Conflicts & Related Parties enabled firms:

  • Related Party Custom Field Label
  • Relationship Custom Label

Client settings terminology

As a firm admin, click the Time>>Settings>>General sub tab to define the terminology for:

  • Activity Label

Activity

 

As a firm admin, click the Expense>>Settings>>General sub tab to define the terminology for:

  • Expense Label

Expense label

 

As a firm admin, click the Invoices>>Settings>>General sub tab to define the terminology for:

  • Invoice Label

Invoice Label

 

Timekeeper – Profile

The Profile tab is used to enter basic information about the timekeeper: Click on Account>Professionals and select timekeepers name to view profile.

Timekeeper profile

 

Note: The Bypass Approval? check box and Manage Approvers button will only be shown if the staff/professional approvals options are enabled in either Time or Expense settings.

 

Timekeeper – Contact

Enter the timekeeper’s contact information here: Account>Professionals>Click timekeepers name, go to Contact tab.

timekeeper contact

 

Account Info

Your client contact information may differ from your billing contact information. If so, enter the client contact information here. If this information is the same as for the TimeSolv Billing Info contact, indicate that here as well. To access your account Info:

  • Click the Account tab
  • Click the Our Account link
  • Click the Account Info sub tab such that the account info is shown
  • Enter client contact information. When finished, click the Save button

Account Info

Account Subscription

Subscription is where you enter information about the main contact at your company, as well as the billing and payment method. Your payment method can be changed at any time, although the changes will not take effect until the next billing cycle.

To access your TimeSolv subscription:

  • Click Account tab
  • Click the Our Account link
  • Click the Subscription tab
  • Click the Add Payment Method button

Payment method

 

  • Enter valid data in the Payment Method section
  • Enter valid data in the Billing Information section

Note: The address entered must be the same as your bank account’s billing address

  • When finished, click the Save button

Taxes

The following sections describe how to change and modify tax settings to accommodate your taxation requirements:

How do I Change the Tax Terminology?

To change the tax terminology:

  • Click the Account tab
  • Click the Settings link such that the General tab is launched
  • Enter the tax terminology in the Tax Label field
  • Enter the tax ID in the Tax ID field

 

How do I Specify Appropriate Time and Expense Tax Rates?

To specify the appropriate time tax rate:

  • Click the Time tab
  • Click the Settings link such that the General tab is shown
  • Specify a tax rate in the Time Tax Rate (%) field
  • Click the Save button

To specify the appropriate expense tax rate:

  • Click the Expense tab
  • Click the Settings link such that the General tab is shown
  • Specify a tax rate in the Expense Tax Rate (%) field
  • Click the Save button

 

How do I Specify Taxable Activities?

Please refer to the Activity Codes Setup page to specify taxable activities.

 

How do I Specify Taxable Expenses?

Please refer to the to The Expense Codes page to specify taxable expenses:

 

How do I Indicate a Client is Taxable?

To indicate a client is taxable:

  • Click Clients tab such that the Clients & Projects link is shown
  • Click the name of a client you wish to identify as taxable. The Client Information Tabs are displayed.
  • On the General tab, select Taxable/Taxable by task option from the Taxable Status drop down box
  • Click the Save button

 

How do I Generate Bills that Include Tax?

To generate bills with tax included:

Note: Taxes are supported only with the Flexible Billing Template

  • Click Invoices/Bills tab
  • Click the Settings link
  • Click the Flexible Templates sub tab
  • Click the desired flexible billing template such that the Flexible Billing Template information tabs are displayed
  • Click the Main Page tab
  • Enable the Tax section by enabling the Tax check box.
  • Enable the Tax ID check box or ABN check box or both depending upon the firms requirements
  • Click the Update button

 

How do I Generate a Tax Report?

To generate a tax report:

  • Click Reports tab such that the Reports link is shown
  • Go to the Managing the Firm section
  • Click the Tax Listing link and specify the report options
  • Click the Generate Report button

Abbreviations

TimeSolv allows users to create abbreviations for frequently used sentences which can be used later on in the Description of time or expense entries. These abbreviations can be used both for the online time entry or with TimeSync. Abbreviations can be defined both at firm or firm user level.

Display of abbreviations on the Time Entry form. Hover over paper icon to view a list of abbreviations. The blue circling arrows will implement abbreviations.

Abbreviations

 

 

To edit and add abbreviations, go to the Account tab,  select the Settings link, and go to the Abbreviations tab.

Account,settings, abbreviations

 

Abbreviations can also be added at the firm user level.  Go to the Account tab, professional (timekeeper) select the user’s name and click the Abbreviations tab.

Firm abbreviations

 

Video: Creating Abbreviations

 

 

Abbreviations on TimeSync application will appear when you click in the description box. New abbreviations are added to to TimeSync after they have been added to the online TimeSolv account and a sync has been run in TimeSync.

TimeSync Abbreviations