Abstract: The present invention consists of an improved system and method for timekeeping and billing in professional services firms such as those in the areas of law, accounting, architecture and engineering. In the present invention, systems and methods are developed for improved development and management of client budgets where expenditures are continually traced and electronic notices of progress may be automatically transmitted to the client or customer. In addition, security is enhanced by providing security by employee name, level or job title for sensitive client information. Volume discounts can be automatically applied across client name, phase, matter or activity. The client may be provided with an online account secure with an unique ID and password. The system can also handle multiple currencies, payment methods and languages. Clients may be provided with interim bills in real time, as work progresses.

Abstract: The present invention consists of an improved system and method for improved budgeting and forecasting where data can be collected for prior years by account and by month, then a factor for the year may be applied to the data and reports are generated to create a budget for the upcoming year based upon inflation and cost o living, as well as other factors.

Abstract: The present invention consists of an improved system and method for creating a fee agreement with a client in an improved, efficient manner by providing the client or customer with an online account, a variety of fee arrangement templates suited to an area of law or other business, allowing the client to select a fee template, add in desired changes from a pull down menu, and then upload the fee arrangement to the system for approval by management with an encoded electronic signature. With such an improved system, fee agreements can be readily accomplished in less than one business day.

Abstract: The present invention consists of an improved system and method for generating flat fee bills and interim bills to professional service clients where the system will automatically assign a flat fee amount to a client's matter, task or activity and then the final bill amount issued to the client will not exceed the flat fee contractually agreed upon. The flat fee payment amount may be billed each time a matter, task, or activity is mentioned in a client bill. An interim bill also may be generated for a client at anytime in order to collect retainers and advance funds. The improved method and system is directed to use in professional services firms such as law, engineering, architecture, accounting and the like.

Abstract: The present invention consists of an improved billing system for professional companies and firms with enhanced handing of all client data including names, addresses, websites, phone numbers, fax numbers and the like. The present invention can also track mergers and acquisitions of clients, write offs, taxing structure for bills, and it may display client data according to the security level or staff function of the person attempting to access the data. It can provide mass discounts on bills, and store various client fee arrangements, which are linked to the client data. In many ways the efficient handling of numerous fields of client data information is provided.

Abstract: The present invention consists of an improved system and method for tracking expenses and billing them to a client, matter, task, activity, client group or phase and assessing goods and services purchased to these categories on a line by line basis. The system also allows an employee to place an order by selecting from a list of preapproved vendors and checking both vendor ratings and item ratings prior to purchase. Once the items are received, the bill of lading is reviewed for receipt of the proper items in the proper quantities. This information may be scanned, texted or emailed into the system to generate additional in house reviews for the system. Information on the items purchased is allocated across one or more ledgers on a line by line basis and may be entered into one or more of the following categories: Client ID, Task, Activity, Phase, Matter and Client Group.

Abstract: The present invention consists of an improved partnership profit sharing system wherein hours billed and collected are tallied for a given time period, profits are determined, and then according to a predetermined set of rules, time billed and collected by each billing and client originating partner is assigned a ratio or factor by which the profit share will be divided among those eligible to share in the firm or company profits for the year. Positive leveraging factors include: time billed versus time collected, the rank of the total funds collected by a billing entity, the client's business ranking in terms of financial and business strength, placement on the Fortune 500 and the like.

Abstract: The present invention consists of an improved System and Method for raising inter-frim invoices, processing transfers and postings. The system and method provides for raising invoices and processing transfers for processing directly between two entities, or through a plurality of entities all in one streamlined system. With this improved system and method, associated businesses or organizations may collect their cost sharing expenses across multiple entities seamlessly. Further, each entity may specify the frequency to receive invoices from other entities. With such an improved System, Inter-frim transfers and postings can be readily accomplished immediately, processing hundreds of thousands of time entries in less than one business day.

Abstract: A business system and process which utilizes an improved method of providing accounting methods for entering, updating and posting financial events, as well as an improved method for updating simultaneously a plurality of ledgers and sub-ledgers according to a preselected set of parameters or rules, which provides improved real time reporting capabilities to management, staff, partners and others. The improved system and method manipulates, stores, and reports on ledger items including, but not limited to: statutory cash ledgers, cash and accrual ledgers, and management cash ledgers and similar accounting ledgers commonly utilized in the relevant art of professional time, record and accounting keeping.

Abstract: The present invention consists of an improved system and method for improved budgeting and forecasting where data can be collected for prior years by account and by month, then a factor for the year may be applied to the data and reports are generated to create a budget for the upcoming year based upon inflation and cost o living, as well as other factors.

Abstract: The present invention consists of an Improved Time Entry and Recording System and Method, which greatly enhances the features and abilities of such systems in the marketplace. Most notably, it allows the user thereof to create and generate and edit Work in Progress Reports, which may greatly optimize the profitability of any professional firm, and in particular a law firm, by keeping close tabs on all billing entities. In particular, the user may run and directly edit WIP reports and all data found therein in real time. Automatic flagging and comments on every field are provided, as well as user created and defined billing fields.