Been running fixed fee for most services but considering moving some work to hourly billing for certain client types. The operational question I keep running into is how to actually track time accurately without it becoming its own administrative burden.
Currently using QuickBooks for invoicing which works fine but time tracking is clunky. Would love to hear how others are set up, are you using standalone time tracking tools, something built into your practice management software, or just estimating?
Also curious whether people who've moved between billing models found the software side to be a friction point or whether it adapted reasonably well.
How are you handling billing and getting paid? Specifically curious about firms that bill hourly vs fixed fee
byu/Sea-Wallaby-8174 intax
Posted by Sea-Wallaby-8174
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Simplest time & billing software we have ever used is Timeslips. Not even a current one, the copy we have is from 2005. Their current versions are all subscription based so for one person on a local install it is $600/year. Import client names, add your general service types, and you can record any time – no need to spend hours setting up individual projects for tracking you will never do.
As for sending the invoices, we use Stax payments – but a partner firm uses TaxDome and it works just as easy. PDF the invoice from Timeslips, attach it to a billing from Stax/TaxDome, and their automatic dunning system will keep reminding the client every week until they pay. And they both can process through ACH, a great cost savings compared to 3% for CC processing on large invoices.