Tabs3 Version 14 Automates Compensation Calculations
Software Technology, Inc.By Software Technology, Inc.
Today Software Technology, Inc., announced the release of Version 14 of its popular billing, practice management and financial software products. With this release, Tabs3 Billing Software unveils its totally redesigned Receipt Allocation functionality including Fee Compensation Rules, new billing and collection reports, and enhanced integration with Tabs3 General Ledger Software.
“With Tabs3’s new receipt allocation features, attorneys can put away their calculators and close their Excel spreadsheets,” said Dan Berlin, President of Software Technology, Inc. “Each year law firms spend dozens of hours manually calculating how much each attorney should be paid. With Tabs3 Version 14, it will be easier than ever for law firms to automatically make those calculations, no matter how simple or how complex their rules for compensation are,” added Berlin.
The new Fee Compensation Rules let users specify how much of each client’s payments should be allocated to different attorneys. The rules can be simple percentages, or complex formulas that involve multiple originating timekeepers, date ranges, amount limits and a portion of other timekeepers’ work. Version 14 also includes several new billing and collection reports. New analysis reports will track, by timekeeper or by client, how much has been billed and paid each month. New realization reports can show a firm, by timekeeper or by client, what portion of each bill has been paid.
Several aspects of payments have also been enhanced. Version 14 offers an updated payment entry screen that allows a user to modify receipt allocation calculations when payments are being entered. It also has been updated to make sure that detailed payment information can be passed over to specific General Ledger accounts for timekeeper, location, area of practice or cost type.
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© 2006 Software Technology, Inc.
