Why is it necessary to keep track of your expenses?

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Loss of billable expenses occurs because of the disorganization inherent to paper-based manual systems. Keeping track of your expenses is of course a lot harder than keeping track of your income. The reason is that it is so easy to forget about the smaller expenses. Most people are pretty good about being able to keep track of the big stuff like the time spent or the amount that needs to be charged to client. What really throws them off though is the daily expenses. That morning coffee, document scans & print-outs everyday really adds up and you need to make sure that you are accounting for stuff like that when you are working out your expenses. A lot of people won ’ t and as a result they tend to underestimate how much the expenses were made.

In order to keep track of expenses, many attorneys make sure that they are recording everything. The easiest way that people follow is recording it in a diary or spreadsheets. This gives attorneys an easy way to keep track of everything that they are spending. But imagine a situation where there is a probability of loosing your this diary or mistakenly deleting your spreadsheet. What if this situation occurs and how would you track all your expenses back? Maybe you would want to revisit all your receipts? Or maybe you want to remember all the expenses you made in previous month? But what if you didn ’ t save your receipts and now you are not able to re-collect all your expenses and your accounts are not able to be tallied?

This is where Resis can help you hugely. Most law firms find that when they start using practice management software their record and accounts are maintained. They also tend to be surprised by how inaccurate they were in their accounting when they were just trying to estimate their expenses.

Receipts Tagging:

  • Our Expense Tracking feature allows you to take photos of receipts and tag it directly to a matter or clients. You can take a picture from any device anytime anywhere, store it in Resis and link it to the item you would want it.
  • After it is tagged, once you create an invoice, your this expense is directly incurred into the bill, so it takes out your time to find the receipt while billing and entering the information into the invoice.

Expense Report:

  • With Resis, you can view a report of all the expenses that you captured. You can view for a client, or a particular date or a selected attorney or a firm. You can drill down the detail of the report until you can get through the lower level details and can find out where you spent money.
  • Also once the report is generated, you can save it as a PDF or supported format and can download it or can email it to a client for expenses pertaining to their account.
  • Also you can customize the invoice, put your brand logo, select a template which you like the most and can email to client. This gives you more professional look that you would expect.
  • This report gives you an insight of your spending pattern where you spend more. Also you can understand your client ’ s habits by understanding where and how you spent, so next time, before meeting the client, you know what he likes.
  • The numbers are never flawed and gives you a precise information about all your expenses that you made right from day working on a matter or taking a client ’ s case in hand

Resis helps you not only to be accurate, but also saves your time by not revisiting your receipts or finding them.

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