Recurring Expenses

Purpose & Benefit: On the Expense page, you can identify the expenses you and your staff will be incurring. You must enter an expense name and expense code. The remaining fields are optional. The most common expenses incur unique amounts each time, so unless an expense is always for the same amount, it’s not necessary to assign a default price. The convenience of recurring expenses is obvious; it saves a lot of time for attorneys to be able to charge clients for routine charges through a recurring expense set up for agreed services, and it’s a reassuring way of improving your cash flow while speeding up the payment process, saving you time from having to chase down payments from clients so that you can focus on what’s important!

 

VIDEO:

 

TimeSolv facilitates its customers to automate the creation of those expenses entries that are expected to repeat after a fixed time interval.

  • Select Settings under the Expense tab.

 

  • Under the General tab, click on the Enable Recurring Expense checkbox and click Save.

 

 

  • You can now view and select the Recurring Expense link under the Expense tab.

 

  • Click on New Recurring Expense Entry.

 

  • Select Staff Member from drop down list.

Note: If the staff member or project for which the recurring expense entry has been created requires an expense approval, the expense entry has to be submitted for approval when it gets auto-created depending upon the value in the Next Date field.

 

  • Type or double-click for list of Matters.

 

  • Type or double-click for list of Expense Codes.

 

  • Specify a billable type.

 

  • Specify Quantity, Price Per Unit, Markup (%), or Enter Fixed Amount.

 

  • Enter in the Fixed Amount to be the recurring expense.

 

  • Select the Frequency for recurring expenses from
    Daily
    Weekly
    Monthly
    Annually
    Stopped

 

  • Select the Next Date (starting date) and the End Date for recurring expense entries.

 

  • Provide a Description. Click on the document icon  will give you a list of your firm abbreviations. Clicking on the sync icon  will replace the abbreviations.

 

 

  • Click Save, or Save & New to create another recurring expense, or Save & Duplicate, or Cancel to discard.

 

 

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