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

# 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:

• Use an adjustment if you want to change a slip’s billed value by a flat dollar amount.

• Use a markup or a markdown if you want to change a slip’s billed value by a percentage.

Be aware, though, that your choice has an effect on the way charges appear on your bill. Here is a bill for one slip, entered by timekeeper XY, at the hourly rate of \$100.

The slip that XY entered was for one hour, so the slip’s value is \$100. But XY entered a 10 percent markup on the slip, so Timeslips changed the hourly rate from \$100 to \$110. The math — rate times time spent — correctly calculates the slip’s billed value as \$110.

On the other hand, the next bill for one slip is also entered by timekeeper XY at the hourly rate of \$100. On this slip, though, XY entered an adjustment of \$10. Note three things:

• Timeslips did not change XY’s hourly rate.

• Timeslips did not print the individual slip’s amount; the Amount column heading and value appear for the total time charges and for the bill’s total.

• The total amount of the bill doesn’t appear to equal the slip’s rate times time spent.

Your biggest objection to the slip adjustment will probably be its apparent miscalculation of the bill.

Because you’ll have the most use for a markup/markdown slip, the following steps focus on entering a markup or markdown. It’s possible, though, that you might negotiate a billing arrangement with a client who gives you a reason to use a slip adjustment.

For example, you and your client might agree to discount certain work on a bill by a fixed dollar amount. In this case, you can enter a slip adjustment, and you do that the same way you enter a markup/markdown; you simply use the Adjustment field in the Slip Entry window. And yes, you can enter both a markup/markdown and an adjustment on the same slip.

If the apparent discrepancy between a timekeeper’s rate and the amount on the bill disturbs you, you can opt to remove the rate from the bill layout.

1. Choose Slips→Time & Expense Slips.

The Time & Expense Slip window appears.

2. To start a new slip, click the New (plus sign) button on the vertical toolbar. To edit an existing slip, double-click it.

The Slip Entry window appears.

3. If you started a new slip, fill in the timekeeper, client, task or expense, and any other information appropriate for the slip, including dates and dollar amounts.

4. Click the Markup, Adjustment, and Do Not Bill Time button to display the available options.

5. To assign a percentage markup or markdown to the slip, enter the markup amount as a positive or negative number in the box beside the Markup (+/−) field.

If you don’t know the percentage by which you want to mark the slip up or down, click the calculator button beside the text box to display the Markup Calculator dialog box. Enter an amount in the Markup field or the Final Value field, and Timeslips calculates the markup percentage for you. When you click OK, Timeslips enters that markup percentage on the slip.

6. Click the Save (disc) button on the vertical toolbar to save the change.