LexisNexis Time Matters Software ‘ Billing Matters Plus

MANAGEMENT FUNCTIONS – 4.5 Stars
Almost all time and billing programs
include AR functionality, but Billing
Matters Plus also includes a good
array of additional accounting capabilities,
including AP, checkwriting functions,
a chart of accounts, reconciliation
functions, budgeting and trust accounting.
These accounting functions can be
set for simple bookkeeping or adjusted
to provide greater control. All
of the areas are accessible only
by authorized staff members.

The system supports an unlimited
number of rates and staff, and can
bill time to the hundredth of an
hour. Billing Matters’ calendar
functions are truly exceptional,
with the ability to view individual
or staff calendars by day, week
or month. Group views are provided
side-by-side for easier comparison.
The program can perform split, flat
and consolidated billing, as well
as fee allocation. Billing Matters
also includes a complete audit trail
of client account activity and analysis
reports help in identifying client,
staff and task productivity. A PDA
synch tool is available that lets
remote users enter time, contact
and schedule information while away
from the office.

BILLING & REPORTING FEATURES – 5 Stars
Billing Matters provides easy access
to reporting and billing functions
and allows creation of simplified
invoices and receipt of payments
to be completed with minimal steps.
The program’s more advanced
billing capabilities include split,
flat, consolidated and allocated
fees, as well as trust and retainer
accounting and budgeting. More than
50 customizable standard reports
are built into the system, including
client, engagement, staff, WIP and
AR aging, productivity, calendar
reports, fee/receipt allocations,
and profitability. The company also
has a ‘community’ of
users that actively exchange reports.
As well, users can review prebills
without printing with added drill-down
capability.

INTEGRATION – 5 Stars
Billing Matters offers full integration
with Time Matters, the vendor’s
practice management application.
It can also output data to Excel
format and offers two-way integration
with Outlook, thereby maintaining
contact management files. Data can
be imported from ACT!, GoldMine,
Timeslips and Tabs3, as well as
other applications.

SUPPORT/HELP – 4.5 Stars
The program is easy to use and understand,
but those needing a little more
assistance will find an excellent
training CD included with the program,
as well as a strong built-in help
utility that includes right-click
menus and access to the company’s
online support web site and training
manual. Training is available through
resellers of the software. Technical
support is included free of charge
for the first 90 days after purchasing
the product. If you need additional
technical support after 90 days,
phone-based assistance is available
for $50 per incident or through
purchase of a support package.

RELATIVE VALUE – 5 Stars
Now in its third year on the market,
Billing Matters offers a very strong,
fresh product that takes advantage
of good design and functionality
features. The program’s reporting
and invoice capabilities are ample
and reinforced by analytical tools,
while maintaining ease-of-use and
intuitive navigation. The program
is ideally suited to small and mid-sized
practices.

2004 OVERALL RATING:

The programs reviewed here all provide
basic time management functions,
allow for tracking of expenses,
and offer invoicing and a variety
of managerial reporting. They differ
in their approaches to these functions
and some offer additional tools
such as contact management, scheduling
applications and communications
tools. After consulting with professional
accountants and vendors, we scored
the software in this review in each
of the following areas:

Ease of Use ‘ The most challenging part of implementing a time and billing

regimen is ensuring that staff members use the system
properly, whether by operating in-progress
timers or entering time after-the-fact.
If the system isn’t easy to
use, with intuitive navigation,
staff won’t be as reliable
in their use of the program, and
time or expenses may get lost.

Management Features ‘ This section identifies how the program handles time

and flat-rate billing, the number of clients and timekeepers supported, multi-currency

capabilities, calendaring tools, contact management functions and whether the program allows

remote entry of time, client, and expense data by PDA or web-based interface.

Billing & Reporting Features ‘ The billing capabilities of these programs

obviously affect their overall value to a
firm. This section looks at AR functions,
as well as aging, rates and code
structures, split/partial/interim
billing, markups on expenses and
invoice options. As well, the reporting
functions of the programs are examined,
specifically with regard to standard
reports, productivity analysis reports,
customization options and final
output.

Integration ‘ This section looks at the ability of a program to share data

with GL, payroll or other accounting programs, as well as with office productivity

applications such as Microsoft Outlook, Word and Excel.

Support/Help ‘ Here we assess a program’s built-in help utilities, online
support options, availability of
training and whether support options
are included or available for an
added cost.

Relative Value ‘ This section provides the reviewer’s subjective opinion of

what the user gets for the price. There is some variance in the pricing of the programs in

this review, but it is not very wide. Value, of course, is not exclusively related to cost.

However, sometimes the best deal is not the cheapest, and sometimes the most expensive

option does not provide the best function.