Financial Accounting

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Reading Consolidated Financial Statements

Most major corporations comprise numerous companies bought along the way to create their empires. The financial statement reflects the financial results for all the entities it bought as well as the original [more…]

What Is Financial Accounting?

Financial accounting involves the process of preparing financial statements for a business. This extravaganza involves three major components: accounting information, type of business entity, and user [more…]

The Differences between Managerial and Financial Accounting

Managerial accounting provides internal reports tailored to the needs of managers and officers inside the company. On the other hand, financial accounting provides external financial statements for general [more…]

10 Differences between Some National Standards and IFRS

You've probably heard the phrase 'it wouldn't do for us all to be the same' – well that's as true for the world of accountancy as it is in real life. Many countries around the globe still use their own [more…]

How to Create a Sage Timeslips Database

Every slip you create in a Sage Timeslips database must identify the person who did the work, the client for whom the work was done, and the work performed or the expense incurred. [more…]

How to Use Sage Timeslips Menus and Toolbars

When you first open Sage Timeslips, you’re greeted by its main screen, which includes an enhanced navigator. Menus run across the top of the screen. Just below the menus, you see a toolbar with buttons [more…]

How to Change the Billed Value of Individual Slips in Sage Timeslips

When you work with a slip-based billing arrangement in Sage Timeslips and you want to change the calculated billed value of a slip, you use an adjustment or a markup or a markdown. In general: [more…]

How to Change Billed Slip Values by Client in Sage Timeslips

In Sage Timeslips you can change billed values for the slips of a particular client. Using the Arrangement 1 tab of the Client Information window, you can [more…]

How to Charge a Minimum Hours Flat Fee with Sage Timeslips

You use the minimum hours flat fee arrangement only to cover time charges in Sage Timeslips. When you use this arrangement, you and your client agree to a minimum number of hours you work and an absolute [more…]

How to Create Timekeepers in Sage Timeslips

Sage Timeslips timekeepers are the people who perform work in your company and charge for expenses. As part of tracking work performed and expenses incurred, you create timekeeper nicknames. Typically, [more…]

How to Set Up Tasks in Sage Timeslips

Sage Timeslips tasks represent work that a timekeeper performs. You can set up lots of tasks or only a few, but you need at least one task in your database. Some companies want to be able to view reports [more…]

How to Track Expenses with Sage Timeslips

Often during the normal course of business, you incur expenses you record with Sage Timeslips that you want to pass on to your clients. Typically, you and your client agree in advance that the client will [more…]

How to Set Up the Client Project Feature in Sage Timeslips

The Client Project feature of Sage Timeslips is a feature you can use to manage multiple clients on a project. Using the Client Project feature, you can [more…]

How to Create References in Sage Timeslips

Using references in Sage Timeslips is a way you can manage multiple matters for clients. Unlike the other two methods, you create only one client. Then you create references and assign them to the slips [more…]

How to Import and Export Information between Sage Timeslips Clients

Much of the information you establish for one Sage Timeslips client applies to other clients. Instead of making individual settings on each client, make the settings for one client and then export them [more…]

How to Create a Time Slip with the Sage Timeslips Slip Entry Window

When you create a slip in the Sage Timeslips’ Slip Entry window, you have the most control over all information stored on the slip. To open the Slip Entry window and create a slip, follow these steps: [more…]

How to Create an Expense Slip in Sage Timeslips’ Slip Entry Window

You use the Slip Entry window in Sage Timeslips to create expense slips in pretty much the same way you create time slips, with a few exceptions: [more…]

How to Use the Slip Timer in Sage Timeslips

You can use the timer available in Sage Timeslips’ Slip Entry window to track time as you work. You can start a new slip and immediately turn on the timer, even before you fill in the timekeeper, client [more…]

How to Use TimeCapture in Sage Timeslips

You use Sage Timeslips’ TimeCapture, a separate program that comes with Timeslips, to automatically capture time as you work at your computer. By default, TimeCapture automatically starts timers for every [more…]

Basics of Sage Timeslips’ TimeCapture Preferences

You can set preferences that control Sage Timeslips’ TimeCapture’s behavior. In the TimeCapture window, click the Preferences button (second button from the bottom on the vertical toolbar on the right) [more…]

How to Create Sage Timeslips Time Sheet Slip Templates

With Sage Timeslips, you can set up slip entry templates separately, or you can create them as you work. To create slip entry templates that you know you'll need, choose Slips→Time Sheet→Slip Templates [more…]

How to Search in the Sage Timeslips’ Time and Expense Slip List Window

Over time (sorry for the pun), you enter lots and lots of slips into Sage Timeslips. When you need to make changes to a slip, finding the right one would be a daunting task without the Time and Expense [more…]

Basics of Slip Triggers in Sage Timeslips

Often, entering one slip into Sage Timeslips causes you to enter another slip. For example, if you need to consult with a client at his or her site, you might enter a time slip to record the time spent [more…]

How to Enter Accounts Receivable Transactions in Sage Timeslips

You enter all accounts receivable transactions in pretty much the same way in Sage Timeslips. Here let’s walk through how to enter a payment transaction because that’s the transaction you'll enter most [more…]

How to Enter Client Funds Transactions into Sage Timeslips

You use one of four funds transactions to record activity in a funds account in Sage Timeslips. Two of those transactions, the ones with the word Payment [more…]

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