Tip of the Week: Setting up a tax or admin fee
2 min read

Tip of the Week: Setting up a tax or admin fee

Free on-demand webinar

How to Get Clients to Pay On Time: 15 Tips in 15 Minutes!

Watch Now

Recommended by

ForbesAdvisor - The Best Legal Billing Software Of 2022

Learn How You Can Get More Reviews For Your Law Firm

Download free guide
Share:
2 min read

TimeSolv allows users to easily set up the taxable status for each client separately, and define the individual rates for time and expense entries. Alternatively, your practice may charge other monthly percentage fees, such as an Admin Fee. This Tip of the Week will walk you through setting this up.

 

Setting up tax

Users can head under individual client details to specify whether the client is simply Taxable or Taxable by Task. To do this, go under Clients>Clients & Matters>[client name]>Taxable Status.

Taxable by Task means that when a Task/Activity code with a tax rate set up against it is applied to an entry for this specific client, the tax rate will be applied to their invoice.

Taxable means every entry has the specified tax percentage applied to the invoices.

When users select either Taxable or Taxable by Task from the drop-down list of options, two fields will appear below allowing you to specify the Time and Expense tax rate percentage. If these percentages are already set up under Time>Settings or under Expense>Settings, you may select the ‘Override Firm Setting’ checkbox to customize the tax rate for this client as a different amount from the firm-wide settings.

 

Customizing tax label

Alternatively, users can customize the tax label field to whatever is needed for their business needs, such as an admin fee. Click on Account>Settings>Tax Label. Specify the custom label you wish to rename it to (example below).

Now, instead of seeing the term ‘tax’ you will see, for example, ‘Admin Fee’ in place of it. The invoice will also show your customized label.

If you’d like TimeSolv support to help you in understanding how to set up a tax or admin fee, please call 1.800.715.1284 or Contact support.

Contact support

Stay up to date with the latest articles, educational resources, and news

Subscribe to our newsletter

You might also like

Tip of the Week Empowering Timekeepers with Enhanced Permissions

Tip of the Week: Empowering Timekeepers with Enhanced Permissions

We're excited to introduce a powerful enhancement to TimeSolv that gives your Timekeeper...
Tip of the Week Ability to Unlink TimeSolvPay Transactions

Tip of the Week: Ability to Unlink TimeSolvPay Transactions

In our commitment to making TimeSolv an even more versatile tool for your legal billing...
Tip of the Week Give Your Invoices a Personal Touch with Custom Word Templates

Tip of the Week: Give Your Invoices a Personal Touch with Custom Word Templates

At TimeSolv, we understand the importance of making your client interactions feel...
Tip of the Week See Your Law Firm in a New Light with Dashboards

Tip of the Week: See Your Law Firm in a New Light with Dashboards

This week’s Tip of the Week will explore three pivotal Dashboards that are essential for...

Tip of the Week: Include Inactive Staff and Projects in Time Search

At TimeSolv, we are committed to continuously improving our software to meet your...
Increase Your Billable Hours Seven Tactics for Optimizing Your Time

Increase Your Billable Hours: Seven Tactics for Optimizing Your Time

As the writer Annie Dillard says, “How we spend our days is, of course, how we spend our...
How Fixed-Fee Billing Can Enhance Law Firm Profitability

How Fixed-Fee Billing Can Enhance Law Firm Profitability

The traditional hourly billing method has been the default in legal practice for the...
Tip of the Week Streamline Time Tracking with Read-Only Task Code Narratives

Tip of the Week: Streamline Time Tracking with Read-Only Task Code Narratives

This week, we're excited to introduce an enhancement that enables users to make task...
How to Leverage Automation for Faster Billing and Payment Cycles

How to Leverage Automation for Faster Billing and Payment Cycles

Any legal professional or administrator can attest to the fact that creating and sending...
Tip of the Week Introducing the Ability to Mark Expenses as Vendor Paid

Tip of the Week: Introducing the Ability to Mark Expenses as Vendor Paid

In the fast-paced world of legal and professional services, staying ahead requires more...