The Time & Billing Tab allows firms to track time spent in a Case. As time is completed, entries are added on the Time Tab, allowing billable entries to be linked to Value items for reporting purposes. This tab shows global options for Time Tracking, Billing, Trusts, and Invoicing.
NOTE: You must have Modify permission to Firm Preferences to enable and configure Time and Billing.
Time Tracking
To activate Time Tracking:
On the Time Tracking tab, select the slider to Enable Time Tracking.
A new option to Enable Time Description and Memo Sync has been added. When the slider is 'on', the Description field on billable Time entries will be synced with the Memo field on the linked Value item. If any changes are made to the Description field of the Value item on Save, it will also modify the Memo field, keeping everything consistent from a billing perspective. The Memo field cannot be modified.
Use the Set Case Types dropdown to select the case type(s) that should track time. Only cases of the specified type will utilize Time Tracking.
When a Case Type is selected, the Track Time check box on the General Tab of that Case Type will be automatically selected. The Time Tab in the Case Type > Tab Setup Tab will also be automatically enabled.
NOTE: You can also track time for a single Case Type in the Case Type Directory > General Tab by selecting the Track Time check box.
Use the Set Staff dropdown to select the users in your firm that can track time spent in a Case.
When a user is selected, the Enable Time Tracking slider on the Staff Profile > Time & Billing Tab will be automatically 'on'.
NOTE: You can also enable time tracking for a single Staff in the Staff Profiles > Time & Billing Tab by selecting the Enable Time Tracking slider.
These combined settings allow the Timer to be started for an open Case.
NOTE: If choosing to associate tasks with time entries, they must be created in the Tasks Mini Directory before saving time to the Time Tab, however, the Task field is no longer required to save time entries.
A new checkbox for Enable Deletion of Stale Timers has been added to allow stale timers after a specified number of days to be deleted automatically. The checkbox will be disabled by default and when enabled, will display an additional field for the number of days. The number of days will default to 30 and must be greater than 0.
Billing [screenshot]
Default Time Increment will automatically populate when adding billable time from a new time entry (via Time Tab, Accounting > Time, Quick Add, or Create). Default Time Increment is a required field and will default to 0.1. In addition, a new "Exact" time increment has been added, which will not round the billable amount of the time entry.
NOTE: If the Default Time Increment is set to any increment and the time spent on a time entry contains seconds when the Time entry is set to 'Billable', the seconds will be rounded to the next minute when calculating the next increment.
Keep "Time Spent" and "Billable Time" Synced defaults to enabled and will keep "Time Spent" and "Billable Time" linked. When the check box is deselected, the Billable Time on saved entries can be edited independently from Time Spent in "Time" Value Code entries and in Time Tab entries.
The Time and Value Sync section provides greater control over defaults for Value entries created from Time entries. In addition, Time Details can be added to Value entries, reducing the need to switch tab to enter billable time.
Default Provider – Use this required field to search and select the contact that will be automatically inserted into a Value entry when the Value Code is set to a "Time" Value Code Type. The DTF Provider from the Firm Preferences > Default Info Tab will automatically inserted in this Default Provider field.
Default Value Code – Use the required field dropdown to select Value Codes with a "Time" type. This field will default to the "TIME" Value Code from Value Codes Mini Directory. If a TIME Value Code does not exist, Neos will create it and assign a "Time" type. The Default Value Code will be automatically inserted into a Time entry when the Billable checkbox is selected.
To enable LEDES billing:
Select the Enable LEDES Billing check box (only available when the Time Tracking slider is enabled). Legal Electronic Data Exchange Standard (LEDES) is an industry-standard billing format for producing machine-readable text files for invoices that can be used with your company's financial system. Neos uses the 1998B and LSS SW 10 formats. These options must be enabled to download an invoice in the LEDES format. The following LEDES settings are only visible if LEDES Billing is enabled.
• LEDES Firm ID – Enter your firm's LEDES ID number. Based on your firm's setup, this may be your GST (Goods and Services Tax) or TAX ID number. This number will be populated into the LAW_FIRM_ID field on the LEDES invoice. If this field is blank, you will notice an error in the downloaded file.
• LEDES Matter Number – This selection populates the "Law_Firm_Matter_ID" in LEDES-formatted invoices. Alternate Case Number Label 1 will be the default for new firms. For existing firms, this field will be populated with the selection from the LEDES Matter ID dropdown. Choose from Case Number, Alternate Case Number Label 1, or Alternate Case Number Label 2.
• LEDES Matter ID – When the "Append Matter ID to Each Line Item" checkbox is selected while exporting a LEDES98B invoice, the Law Firm Matter ID will be inserted into the "Law_Firm_Matter_ID" and "Client_Matter_ID" fields of the LEDES invoice. The LEDES Matter ID field is required. Choose between the Case Number, Alternate Case Number Label 1, or Alternate Case Number Label 2.
• Client ID – Select the Client ID (default selection), Alternative Case Number Label 1, or Alternative Case Label 2 to insert the corresponding data in the Client_ID field of the exported LEDES invoice. When Client ID is selected, the Party ID from the Bill To field will be inserted. Client ID is a required field and will only be present if LEDES Billing is enabled. If the Client ID is less than 5 characters, Neos will add zero(s) before the Client ID to make the number 5 digits/characters.
• LEDES Description – Select the Value Entry Memo (default) or LEDES Description. This selection will populate the "LINE_ITEM_DESCRIPTION" field in LEDES-formatted invoices. The LEDES Description field will be present on non-Time Value entries below the Reference 2 field, allowing up to 5,000 characters. If the LEDES Description Firm Preference is set to "LEDES Description", the data on the non-Time Value entry will populate in downloaded LEDES-formatted invoice.
• Division Name – This alphanumeric field can be used when exporting a LEDES invoice using the LSS-SW10 format. Up to 250 characters can be entered. Division Name is used to identify the specific division that your firm is responsible for the legal services being billed and for managing billing information based on different divisions within your firm (e.g., Corporate Law Division, Litigation Division, or Intellectual Property Division).
• Division Office – This alphanumeric field can be used when exporting a LEDES invoice using the LSS-SW10 format. Up to 250 characters can be entered. Division Office is used to specify the particular office location of the division that is handling this legal matter and is useful for firms with multiple office locations to ensure billing accuracy (e.g., New York Office, London Office, etc.).
A new option for Display Time Spent as Decimal has been added to allow staff to enter time in decimal format. Time Spent, Billable Time, and Time Spent fields will appear as a decimal, allowing up to 4 places after the decimal to be entered. This firm option will be disabled by default. When entering time as a decimal, enter the tenths, hundredths, etc. first, then move your cursor to the far left and type the decimal point. Once displayed, move your cursor before the zero to enter ones, tens, and/or hundreds.
NOTE: When Display Time Spent as Decimal is enabled, Time that was entered using hh:mm:ss will now display a decimal. This includes all locations in Neos that utilize Time fields, such as Advanced Search and Update Time (Edit).
Trusts
New trust requests can be created in the Value Tab > Invoices view when the Firm Preference setting is enabled.
To turn this feature on, select the Enable Trust Request checkbox in the Time & Billing tab of Firm Preferences. When disabled, the + New Trust Request button will be hidden.
Invoicing
The Require Time/Value Approval option provides a workflow to approve and lock Time and Value entries with new statues that restrict some staff, based on permissions, from editing entries once approved. Additional benefits include greater awareness of which entries are ready for approval and eventually billing. When this setting is enabled, a new Special Permission for "Time and Value Approval" will be visible. Firm Administrators with this new permission enabled will have the ability to approve submitted Time and Value entries, which indicates that entries are ready for billing. Approved Time and Value entries will be locked to prevent editing by staff who do not have this permission.
When enabled, a Status column will display on the Time Tab list view and Value Tab list view. The Status column will also display on the Accounting Tab > Time and Values views.
Set the Time and Value Approval Special Permission for staff administrators that should be allowed to approve/deny submitted Time and Value entries.
Accounting Integration
If your firm has the QuickBooks Online integration enabled/live, this Accounting Integration section will display.
Approved Value Records, Invoices, and Check/Deposit Requests can be automatically synced to QuickBooks Online to save time, eliminate manual steps, and ensure accurate financial records. Choose the global sync preference that best suits your firm. NOTE: This Accounting Integration section is only visible when the QuickBooks Online integration is enabled/live in Neos.
Sync Check & Deposit Requests (Default) – This is the current function where check and deposit requests are manually created from Value transactions and posted to QuickBooks Online.
Sync Approved Value Records – Approved Value items can be immediately synced to your selected QBO Company. "Require Time/Value Approval" will be automatically selected and cannot be changed when this setting is selected. Synced Value items will be locked from editing (unless you have Special Permissions to Modify Locked Value Entries) in Neos and will show a "Posted" status. Once synced, a transaction will be added to the Value entry.
Sync Approved Invoices – Approved Invoices can be immediately synced to your selected QBO Company. The "Create a Check/Deposit Request" toggle will be hidden. Synced invoices will be locked from editing (unless you have Special Permissions to Modify Locked Value Entries) in Neos. Invoices paid in QuickBooks Online will have a transaction added for the payment. NOTE: Only approved invoices after the Sync Approved Invoices button has been enabled will be automatically sent to QuickBooks Online.
Sync Approved Invoices and Check & Deposit Requests – Sync approved Invoices to your selected QBO Company AND have the option to create Check or Deposit requests from a Value entry transaction. The Check/Deposit request will display in the Accounting Tab, where it can be manually posted to QuickBooks Online. NOTE: The "Create a Check/Deposit Request" toggle will be hidden for a Value entry that has been used in an Invoice. An invoice cannot be created from a Value entry that has a Check/Deposit Request. If multiple Value entries are selected from the list view and at least one has a Check/Deposit request associated, the following error banner will display.
The Custom Invoice Text is a new field that allows specific details, such as Tax ID to be included on all invoices. The text field accepts up to 250 characters.
All entered text will display on PDF and Word invoices below the Bill To and Bill From address and above the Case Name.
Interest Calculator
For firms that vary interest by month, variable monthly interest rates can be configured globally to ensure the proper calculation for any given month. Variable interest rates should be managed by your firm to keep this information up to date.
Click the Configure Rates button to open the Variable Monthly Interest Rates window. NOTE: You must have Modify permissions to General > Firm Preferences in order to make and save changes.
The Year dropdown will show the current year by default and allows up to 10 years in the future or past to be selected.
Each month in the year will be listed. The current month will contain a "Current" tag. All months that have already passed will have a grey background and all future months will have a white background.
Use the numeric Rate percent field to specify the interest rate for each month. The Rate field will show 0% by default. It allows up to 4 decimal places and only positive numbers can be entered.
Click Save Changes to save all modifications. The variable monthly interest rates set in Firm Preferences will mirror the rates in the Value Tab > Interest Calculator when accessing the Configure Interest Rates window. NOTE: Rate changes made in the Value Tab > Interest Calculator (variable interest rate configuration) will be updated in Firm Preferences, in other words, the rates will always match.
Click the Save button to save changes.