Do you have a Client with multiple Projects/Matters that prefers to receive one single invoice? Or perhaps you would like to make sure that every client's Projects/Matters are handled separately, with separate balances and payments?
Thankfully, you can customize how your client's Accounting is handled within Bill4Time! This is referred to as "Accounting Isolation", and this isolation can be set either at the global Account Settings level or customized at the individual Client level.
- Would you prefer to watch a video tutorial on this topic instead? If so, you will find a link at the bottom of this article!
TYPES OF ACCOUNTING ISOLATION
There are two different types of Accounting Isolation selections within Bill4Time. Please keep reading to learn more about these options and how to set them up!
Client Accounting Isolation
When you have set your account to Client based Accounting Isolation:
- The overall balance due for your client(s) accounts and invoices will be combined across all their Projects/Matters.
- When you create Invoices for your client(s), all Projects/Matters under your client(s) will bill on one Invoice (entries will still be itemized/listed under separate Project/Matter headings on the invoice, but the balance due will be combined).
- Discounts set at the matter level invoice pre-sets will not apply to multi-matter invoices, as the client level discount is dominate in this setting. You can add a discount to a multi-matter invoice at the invoice level.
Project/Matter Accounting Isolation
When you have set your account to Project/Matter based Accounting Isolation:
- All Projects/Matters under your Client will be handled separately, with the balances due referring to each individual Project/Matter.
- When you create Invoices for your client(s), they will be created as separate Invoices (one per Project/Matter).
- When receiving/applying payments, you will need to select which Project/Matter the Payment belongs to.
HOW AND WHERE TO CHANGE THIS SETTING
The global Account Settings level is the most utilized Isolation. Editing this at the Client level would only be done when you have a Client that prefers you handle their accounting differently than you normally are.
To change this for the whole account, follow the steps below:
- Click on your name from the upper blue bar and select Settings from the drop-down
- Click on the System tab
- Click on the blue Edit Settings button
- On the right under Accounting Isolation, change it to Client or Project
- Click the blue Save button
If you would like this changed on the Client level, follow the steps below:
- Click on the Clients tab
- Select the desired Client
- Once you are viewing the Client's Details subtab, click the blue Edit button
- Next to Accounting Isolation change the drop-down from Firm Default to Client or Project
- Click the blue Save button
ACCOUNTING ISOLATION VIDEO TUTORIAL
Please click below to watch our step-by-step video tutorial of our Accounting Isolation Feature.