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These are questions to which professionals need answers if they are to be successful. They must have absolute control over their most valuable asset. Time!
Polymathic’s Time Accounting system helps professionals like yourself answer those nagging questions accurately, once and for all. Through detailed information provided by the system, you can spot today’s problems before they become tomorrow’s non-billable costs.
It enables you to account for and bill out the time spent and charges incurred by the individual firm members. The System accounts for each employee’s chargeable and non-chargeable time on a current and year-to-date basis by selectable reporting categories, expenses to be billed to clients, multiple categories of unbilled work in process for each client, and each client’s aged accounts receivable balance. It addresses the four major requirements of any time and billing system, namely accuracy, speed, on-demand status information and billing flexibility. Client reports may be run at any time and always show up-to-the-minute information. Much of the information in the system can be reported selectively.
Reports such as Detailed Client History, Partner Summary, Employee Timesheet Lists, Cash Receipts Lists, Billing Lists, Accounts Receivable Aging Reports are just some of the management tools provided by Polymathic’s Time Accounting System.
The Open Item and Balance Forward methods are simple and easy to use. In the detailed client history, all work-in-process is assembled by hours and dollars, with various options available for relieving work-in-process of charges billed. It also records billings, receipts and account balances.
The History Report provides a recap of the client ledger in a condensed form for quick analysis of the most significant work-in-process with time and dollar figures for each client. The flexible printing format provides you with all necessary information in the sequence most suitable to your needs.
Increased efficiency in labour management is achieved through the use of information available in this report. It contains all productive and non-productive time worked, such as employee vacation, sick time and continuing education hours, to provide detailed analysis of productivity for each employee.
"Time Accounting" is part of the Polymathic General Accounting line of products, developed by Polymathic Group.
Polymathic General Accounting is a horizontal product. It offers functionality designed for usage across a wide variety of industries and business types.