Introduction to Billing in OfficeTools by CARET

OfficeTools by CARET billing is split into three main sections: Time, Invoices, and Payments. Any billable time that is tracked will end up in the Billable Time section. There, you will be able to make adjustments and invoice the time. Once the time is invoiced, you will be taken to the Invoices section where you will also be able to make adjustments and finalize your invoice. Final invoices can be paid through the Payments section. All payments, credit memos, and debit memos will be created here.

To get started with billing, you will first want to consider how you will be billing your clients and whether you will be tracking utilization. If you will be tracking time and measuring your billing utilization, you will need to set up work codes and billing rates.

If you will be invoicing on a flat rate or value billing basis, it is still best practice to track time and bill it against your flat rate in order to view billing utilization. But, whether you track time or not, you will still be able to invoice your clients. This can be done from scratch in the Invoices section, or by using a Project or Reoccurring Invoices to generate your invoice and fee.

When you are receiving payments in WorkSpace, you will be able to track the aging of your A/R and generate deposit slips. Debit and credit memos can also be tracked here for client refunds and write-offs.