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How to Manage Multiple Funds Accounts in Sage Timeslips with New Funds Accounts

Unlike bank accounts, which are available to all clients, funds accounts, other than the default account that Sage Timeslips establishes, are specific to each client. To create a new funds account for a particular client, follow these steps:

  1. Choose Names→Client Info to display the Client Information List window.

  2. Double-click the nickname of the client and, when that client’s information appears, click the Client Funds tab.

  3. Click the New button, at the bottom of the window, to display the Client Funds Account Entry dialog box.

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  4. At the top of the dialog box, supply a name for the funds account.

  5. Select the bank account to which you want to assign the account.

  6. Open the Applies to list and choose the type of charges you want to be able to pay from this funds account.

    You can opt to use the account for fees only, costs only, or all charges.

  7. If the account has an opening balance, supply it in the Current Balance field.

    If you don’t know the opening balance, leave the Current Balance at $0. You can always enter a deposit to account transaction to establish the account’s opening balance.

  8. (Optional) In the When the Balance Falls Below and the Request Replenishment To boxes, set parameters that Timeslips uses to automatically request replenishment of the account.

    If you set these parameters, Timeslips displays the following message on the client’s bill: “Please replenish client funds with $X,” where X is the amount you specified. You can edit this message.

  9. Open the Style on the Bill list to specify how Timeslips handles transaction activity from this funds account on the client’s bills.

    You can show the detail of each transaction, include a summary for each transaction type, or hide the information.

    Some people think that clients are confused by transaction details. Others think that including details tends to make the client pay the bill more quickly because it contains complete information.

  10. Select the Automatic Payment of New Charges on the Bill check box.

    Timeslips will automatically create a payment from account funds transaction and a payment accounts receivable transaction for you when you produce a client’s bill.

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