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Forum Post: RE: Billed Slip Value

Caren's suggestion re: inactivated or closed clients is a good one, and often the issue. However, I thought I would take a moment to shed a little light into the idea of the Billed Slip Value (BSV) for you to suggest other reasons why this number might change. When a slip is first created, it is considered Work In Progress (WIP) and the BSV will = the amount of time spent x an hourly rate (typically for time entries).  So if you think of it this way the sort of initial raw value is all about how we value that timekeeper's time. You can see this by clicking on the Value amount in blue at the upper right of the slip.  Timeslips will show you the Slip Value (the raw value) and the BSV and they will be the same.  Timeslips will also tell you that the "Billed Value has not reached it's final value." Hmm, what does Timeslips mean by final value?  The final value is the amount that the slip ACTUALLY billed out as. So, here's the deal.  If all you ever do is bill the slip out at the Slip Value (no changes) then your BSV should always = your Slip Value.  No surprises there. BUT (and this is the key) IF you have some other billing arrangement such as an Absolute Flat Fee, Adjustment to the fee, Write Up/Down type of thing going on, then when you actually approve the bill the program goes back over all the slips that were under consideration for that bill and assigns the pro rata value of the actual invoice to the slips that made up that invoice. So, if you had a -10% adjustment on the bill, then all of the BSVs would be -10% less than the original Slip Value. So, our question back to you is, do you ever do any other kind of Bill Arrangements other than the value of the slips?  Because those arrangements can affect the BSV, and often may not do so immediately if you are holding slips for a period of time before billing them. Also, note that the Slip Value does not change, just the BSV. So you can see what it originally was vs. what it later actually billed out as.  So, in your case, check the Slip Values between the two reports.  That will tell you if you are missing any slips due to Inactivating or Closing.  If you have the same values in the Slip Value, but different BSV numbers it is due to bill arrangements. Hope this helps.   If you think this suggestion was especially helpful, please consider rating it within the five star option, or clicking the green Yes button next to the "Did this answer your question?" option below.  Thanks. Nancy Duhon, Esq. Master Certified Consultant for Timeslips,Certified Consultant for Amicus Attorney and Credenza Duhon Technology Solutions, LLC a member of Certified Resources Network, LLC duhon@duhon.biz 404-325-9779 Providing personalized local and remote online support for Timeslips users for over 20 years. Available for private consultations, including older/unsupported versions.

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