System and method for billing and professional companies and firms relating to budgets and monthly bills

Abstract

The present invention consists of an improved system and method for timekeeping and billing in professional services firms such as those in the areas of law, accounting, architecture and engineering. In the present invention, systems and methods are developed for improved development and management of client budgets where expenditures are continually traced and electronic notices of progress may be automatically transmitted to the client or customer. In addition, security is enhanced by providing security by employee name, level or job title for sensitive client information. Volume discounts can be automatically applied across client name, phase, matter or activity. The client may be provided with an online account secure with an unique ID and password. The system can also handle multiple currencies, payment methods and languages. Clients may be provided with interim bills in real time, as work progresses.

What is claimed is: 
     
         1 . An improved Billing System for companies and firms comprising the entry of Time Worked Data by a Timekeeper for Billing purposes containing at least: Date Worked, Hours Worked, Name of Timekeeper, Description of Time Worked, Rate of Timekeeper and a Bill Value, providing a CPU and data storage for the System, the improvement comprising: generating a periodic bill to a customer in two or more currencies. 
     
     
         2 . The improved Billing System according to  claim 1  further having: a flag in the Time Worked Data which comprises a status of one or more of the following: Billable, Do Not Bill, Hold or Probono. 
     
     
         3 . The improved Billing System according to  claim 2  further being able to produce Time Works Data Listings, Draft Bills and Final Bills and further having: Time Worked Data which is on Hold and which will not appear on Draft or Final Bills. 
     
     
         4 . The improved Billing System according to  claim 1  further having Budget data entered for at least one of the following types of Time: Flat Fee, Task, Activity, Phase, Client and Client group, with the System also having a Budget amount for at least one of the following items Flat Fee, Task, Activity, Phase, Client and Client group, where a notice will be sent to both the Client and one Timekeeper when the at least one item is at or over the Budget amount preset in the System. 
     
     
         5 . The improved Billing System according to  claim 4  further having means to produce budget reports at one or more of the following levels: 10%, 15%, 20%, 25%, 30%, 35%, 40%, 45%, 50%, 55%, 60%, 65%, 70%, 75%, 80%, 85%, 90%, 95%, 100% and over 100%. 
     
     
         6 . The improved Billing System according to  claim 4  further being provided with at least one item is at or over a Budget amount preset in the System, and the System generating automatically a request to the User which is selected from one or more of the following: a notification to write off the amount the Client owes to the Budge Level; an offer of a payment plan for amounts exceeding Budget; and an offer to discount all items over Budget by a preselected amount. 
     
     
         7 . The improved Billing System according to  claim 1  wherein the System may generate one or more of the following documents: Time Worked Data Listing, Draft Bill and Final Bill, the document further containing columns of Billing Data, wherein the User may perform one or more of the following functions: add a column, delete a column and move a column of Billing Data. 
     
     
         8 . The improved Billing System according to  claim 4  wherein the Budget data may only be viewed by employees that have authorization to view which has been preset by the System according to the employee's name. 
     
     
         9 . The improved Billing System according to  claim 4  wherein the Budget data may only be viewed by employee level selected from one or more of the following levels: staff, management, billing partner, client originating partner, billing assistant, billing coordinator, managing partner, associate. 
     
     
         10 . The improved Billing System according to  claim 1  further being able to produce Time Worked Data Listing, a Draft Bill and a Final Bill document, wherein the user may switch between one or more of the following document formats: Flat Fee, Capped Fee, Standard Hourly Rate, Discounted Hourly Rate, and Discounted Costs. 
     
     
         11 . The improved Billing System according to  claim 1  in which a bill generated by the System contains one or more of the following Bill Data: Client ID, Matter, ID, Payer ID, Activity, Task, and Phase; and a discount may be applied to a bill en masse in two or more currencies according to the Bill Data selected by the User. 
     
     
         12 . The improved Billing System according to  claim 1  further having generated an electronic Final Bill to a customer, wherein the Bill is also provided with an electronic signature which has been encoded with an unique identifier to prevent tampering with the contents of the Final Bill. 
     
     
         13 . The improved Billing System according to  claim 1  further having the step of generating an electronic Final Bill to a customer, wherein the bill has been generated in at least one of the following formats: Word, Word Perfect, Excel, Quattro Pro, Google Documents, PDF, JPG and BMP. 
     
     
         14 . The improved Billing System according to  claim 13  further having the step of transmitting an electronic bill to the Client in one or more of the following methods: Fax, email, client online account and to a secure website. 
     
     
         15 . The improved Billing System according to  claim 1  further having the step of entering at least one Payer that is a different entity than the Client, and the at least one Payer making a payment on the bill in a percentage which has been preset by the Client. 
     
     
         16 . The improved Billing System according to  claim 1  further having a spell check software module which checks the spelling of Bill Data as it is entered into the system wherein Client specific spellings for Client Name, Address and Website were entered into the spell check system substantially at the time the original Client Name, Address and Website data was first entered into the improved Billing System. 
     
     
         17 . An improved Billing Method for professionals comprising the entry and billing of Time Worked Data by a Timekeeper by providing at least: Date Worked, Hours Worked, Name of Timekeeper, Description of Time Worked, Rate of Timekeeper and a Bill Value; also providing a CPU and data storage for the System, the improvement comprising: generating a periodic bill to a customer in two or more currencies. 
     
     
         18 . The improved Billing Method according to  claim 1  further having the step of: providing a flag in the Time Worked Data which comprises a status of one or more of the following: Billable, Do Not Bill, Hold or Probono. 
     
     
         19 . The improved Billing Method according to  claim 2  further having the step of producing Time Works Data Listings, Draft Bills and Final Bills and in addition being provided with at least one item of Time Worked Data which is on Hold and blocking Time Worked Data on hold from appearing on Draft or Final Bills. 
     
     
         20 . The improved Billing Method according to  claim 1  further providing Budget data entered for at least one of the following types of Time: Flat Fee, Task, Activity, Phase, Client and Client group, with the System also providing a Budget amount for at least one of the following items Flat Fee, Task, Activity, Phase, Client and Client group, where a notice will be sent to both the Client and one Timekeeper when the at least one item is at or over the Budget amount preset in the System. 
     
     
         21 . The improved Billing Method according to  claim 4  further providing means to produce budget reports at one or more of the following levels: 10%, 15%, 20%, 25%, 30%, 35%, 40%, 45%, 50%, 55%, 60%, 65%, 70%, 75%, 80%, 85%, 90%, 95%, 100% and over 100%. 
     
     
         22 . The improved Billing Method according to  claim 4  further providing at least one item which is at or over a Budget amount preset in the System, and the System generating automatically a request to the User which is selected from one or more of the following: a notification to write off the amount the Client owes to the Budge Level; an offer of a payment plan for amounts exceeding Budget; and an offer to discount all items over Budget by a preselected amount. 
     
     
         23 . The improved Billing Method according to  claim 1  having the further step of the System generating one or more of the following documents: Time Worked Data Listing, Draft Bill and Final Bill, with each document generated providing columns of Billing Data, wherein the User performing one or more of the following functions: add a column, delete a column and move a column of Billing Data within a document. 
     
     
         24 . The improved Billing Method according to  claim 4  further providing the step of viewing Budget data only by employees that have authorization to view which authorization has been preset by the System according to the employee's name. 
     
     
         25 . The improved Billing Method according to  claim 4  further providing the step of viewing Budget data only employees at specific levels which were previously selected from one or more of the following levels: staff, management, billing partner, client originating partner, billing assistant, billing coordinator, managing partner and associate. 
     
     
         26 . The improved Billing Method according to  claim 1  further having the step: producing a Time Worked Data Listing, a Draft Bill and a Final Bill document, wherein the user may switch between one or more of the following document formats: Flat Fee, Capped Fee, Capped Costs, Standard Hourly Rate, Discounted Hourly Rate, and Discounted Costs. 
     
     
         27 . The improved Billing Method according to  claim 1  further having the step of generating a bill by the System which contains one or more of the following Bill Data: Client ID, Matter, ID, Payer ID, Activity, Task, and Phase; and then providing a discount to the Bill en masse in two or more currencies according to the Bill Data selected by the User. 
     
     
         28 . The improved Billing Method according to  claim 1  further providing the step of generating an electronic Final Bill to a customer, and on the Final bill, generating an electronic signature and encoding the electronic signature with an unique identifier to prevent subsequent tampering with the contents of the Final Bill. 
     
     
         29 . The improved Billing Method according to  claim 1  further having the step of generating an electronic Final Bill to a customer, wherein the bill has been generated in at least one of the following formats: Word, Word Perfect, Excel, Quattro Pro, Google Documents, PDF, JPG and BMP. 
     
     
         30 . The improved Billing Method according to  claim 13  further having the step of transmitting an electronic bill to the Client in one or more of the following methods: Fax, email, client online account and to a secure website. 
     
     
         31 . The improved Billing Method according to  claim 1  further having the step of entering at least one Payer that is a different entity than the Client, and the at least one Payer making a payment on the bill in a percentage which has been preset by the Client. 
     
     
         32 . The improved Billing Method according to  claim 1  further having a spell check software module which checks the spelling of Bill Data as it is entered into the system wherein Client specific spellings for Client Name, Address and Website were entered into the spell check system substantially at the time the original Client Name, Address and Website data was first entered into the improved Billing Method.