Attention Credenza Customers - A New Update Is Now Available

One of the perks of subscription based software is that any new features or updates are immediately available to you – and at no additional charge! When I came into work last Wednesday, I launched my Outlook and poof – there it was, waiting for me.

Last week’s update included some great new features, many of which came from suggestions submitted by fellow Credenza users. So, a big thank you for sharing your valuable feedback. In case you missed the “what’s included in the update”, here is a quick summary.

1. With Credenza you can generate bills for your fees and expenses. All it takes is a single click and you have a draft bill for your selected time entries. Once you are ready, you can convert the draft bill into an invoice. Now say you get to this point and notice that there is a missed time entry for an appointment that should have been included in the invoice. In the past, you would have had to create a second separate invoice to send to the client. But now, you can simply revert the invoice back to a draft bill, go in and make any necessary adjustments before sending out the invoice. Huge time saver, and much cleaner if I do say so myself!
2. Credenza comes with all types of reports that look at the various cross-sections of your business. My personal favorites were the Client Payment Distribution and the Time and Fee Listing reports. I run them at the end of every week so I can see how much work had been done and how much had been collected. You may have noticed my use of the past tense – favorites were… That’s because of the new Client Profitability report. This report is by far my new favorite! It not only gives me a complete overview of all work, it shows me how much revenue is being contributed by person- in a single report!
3. When creating a bill in Credenza, you will notice that there is a very handy section at the bottom of the screen that totals all fees, expenses and taxes. And now, just below this amount due there is a spot where you can specify what portion (if any) is to be withdrawn from a retainer or trust account. This definitely makes it much easier to use any money in trust or held as a retainer towards bills.
4. The last new feature in this update was a must have. Credenza now allows you to make partial payments from retainer or trust accounts. You either had to have enough money to cover the entire bill in retainer or trust, or you couldn’t use it. Amazing how such a small thing can make such a big difference.

All in all, this update provided some pretty useful features. Enjoy!