How much money is your current billing process leaving on the table? Between unbilled scope creep, small invoicing errors, and the sheer amount of administrative time spent chasing payments, the hidden costs add up fast. For many firms, this revenue leakage can be over 5% of their total income. Choosing the right time and billing software for accountants isn't just about convenience; it's a strategic business decision to protect your bottom line. By automating the entire process from proposal to payment, you ensure every dollar you earn makes it to your bank account, transforming unpredictable cash flow into a reliable, forecastable asset for your firm.
Key Takeaways
- Move beyond basic time tracking: The best billing software automates your entire financial workflow, from the initial proposal to the final payment, which eliminates manual work and prevents costly errors.
- Connect the proposal directly to payment: Stop the cycle of chasing invoices by using a system that secures client payment methods upfront during the signing process. This puts you in control and ensures you get paid on time.
- Turn billing into a business advantage: Automating your billing process does more than save time—it plugs revenue leaks, provides a clear forecast of your cash flow, and creates a professional experience that strengthens client trust.
What Exactly Is Time and Billing Software for Accountants?
Let's be honest, the term "time and billing software" sounds a little dated, like something out of a 90s office sitcom. You might picture clunky spreadsheets or a glorified stopwatch that just tracks hours. But modern billing software is so much more than that. It’s less about just tracking time and more about automating the entire financial relationship with your clients, from the initial proposal all the way to getting paid.
Think of it as your firm's financial command center. The goal is to handle all the tedious, error-prone tasks that eat up your day so you can focus on what you’re actually good at: helping your clients. While many tools focus only on tracking hours and sending invoices, a true billing automation platform like Anchor connects every step. It turns a fragmented, manual process into a single, smooth workflow that saves you time and, frankly, a lot of headaches.
What It Actually Does
At its core, time and billing software is designed to give you a crystal-clear picture of all your billable work. It helps you manage projects, track expenses, and generate invoices without having to piece everything together manually. The idea is to make your firm's operations run smoother so you can capture every dollar you've earned. It’s a huge step up from spreadsheets and sticky notes.
But the best systems go way beyond just tracking. Instead of just logging hours, a platform like Anchor automates the entire billing lifecycle. It starts with a digital proposal your client can sign instantly, automatically triggers invoices based on your agreement, and collects payments without you having to lift a finger. It’s not just a tool for billing; it’s a system for getting paid.
Clearing Up Common Billing Software Myths
One of the biggest myths holding firms back is the idea that switching to a new system will be a massive, disruptive project. We’ve all heard the horror stories of software implementations that take months and require a dedicated IT team. Many firm owners worry they just don't have the time or resources to handle that kind of change.
The truth is, modern cloud-based tools are built for a quick and painless setup. You don't need a technical background or a long, drawn-out onboarding process. For example, you can get a platform like Anchor fully implemented in a single afternoon. The myth of a complicated, time-consuming switch is a relic of older, clunkier software. Today’s solutions are designed to get you up and running fast so you can see the benefits almost immediately.
The Real Cost of Sticking with Manual Billing
If you’re still managing billing manually, you’re likely leaving money on the table. Manual processes are a breeding ground for small mistakes—a missed invoice here, an incorrect line item there—that add up to significant revenue leakage over time. Not to mention the hours your team spends chasing down payments, correcting errors, and just trying to figure out who owes what.
Automating your billing isn't just about convenience; it's a strategic move to protect your bottom line. When invoices are sent and payments are collected automatically, you get paid faster and more reliably. This simple shift means you spend less time on administrative busywork and more time delivering value to your clients. It transforms billing from a necessary evil into a smooth, professional experience for everyone involved.
Key Features That Will Change How You Bill
When you start looking at time and billing software, it’s easy to get lost in a sea of feature lists. But let's be real—not all features are created equal. The right tools don't just digitize your old, clunky process; they completely transform it. They move billing from a dreaded administrative task to a smooth, automated part of your client experience.
Forget about just tracking hours and sending PDFs. Modern billing platforms are designed to tackle the root causes of your biggest headaches, like late payments, scope creep, and revenue leakage. They give you control over your cash flow and free up your time to focus on what you actually love doing: serving your clients. Let’s look at the key features that will fundamentally change how you bill, for the better.
Automated Invoicing
We’ve all been there—spending hours at the end of the month manually creating and sending invoices, double-checking for errors, and dreading the inevitable follow-up. Automated invoicing allows you to create and send bills directly from the system, which is a great first step in reducing manual work. But the best systems go even further. Instead of just setting up a recurring invoice, platforms like Anchor connect invoicing directly to your client agreement. Once your interactive proposal is signed, the billing schedule is locked in and runs on its own. This “automagical” approach means invoices are sent without you lifting a finger, completely eliminating manual entry errors and awkward follow-ups.
Seamless Payment Processing
Chasing down payments is exhausting and can strain client relationships. A modern billing platform should make getting paid the easiest part of your job. Look for software that helps you process payments directly, including credit cards and bank transfers (ACH). The real game-changer, however, is securing payment information from the start. Anchor builds this right into the proposal process. When a client signs your agreement, they connect their payment method upfront. This puts you in control of getting paid on time, every time. You can even pass on credit card fees to clients, protecting your profit margins without any friction.
Integrated Client Management
Your billing process shouldn't feel disconnected from the rest of your client relationship. While some tools let you manage projects and invoices in one place, a truly integrated system makes billing a seamless part of the client lifecycle. Think about how you handle scope changes. Instead of a messy paper trail of emails and new contracts, a platform like Anchor lets you make one-click amendments to the agreement. This updates the scope and billing terms instantly, keeping everything accurate and transparent. It turns a potential point of conflict into a simple, professional interaction that builds trust.
Actionable Reporting and Analytics
Are you making decisions based on a clear view of your firm's financial health, or are you just guessing? Many tools offer pre-built reports on things like profitability and work-in-progress, which are useful for looking back at performance. But what you really need is a clear, forward-looking view of your cash flow. The best platforms provide dashboards with real-time visibility into revenue forecasts, outstanding payments, and projected income. This gives you the confidence to plan for the future, make strategic investments, and stop worrying about whether you’ll have enough cash to make payroll next month.
Top-Notch Security and Compliance
Let’s talk about something that keeps every firm owner up at night: security. You're handling sensitive client financial data, and protecting it is non-negotiable. Using cloud-based billing solutions is essential for easy access, better teamwork, and protecting your data. Reputable platforms like Anchor are built with bank-level security and encryption, taking the burden of compliance off your shoulders. This isn't just a background feature; it's a core component of building and maintaining client trust. When your clients know their information is safe, it strengthens the entire relationship.
The Best Time and Billing Software for Accountants
When you start looking for time and billing software, you’ll find a ton of options. Many are great at one specific thing, like tracking hours or sending invoices. But the real game-changer for a modern accounting firm isn't just a tool that tracks time—it's a platform that automates your entire billing and collections process from start to finish. The goal is to find a system that handles everything from the initial client agreement to the final payment and reconciliation, all without you having to manually connect the dots.
This is about more than just efficiency; it's about creating a seamless experience for both your team and your clients. The right software doesn't just save you time on administrative tasks. It protects your revenue, gives you a crystal-clear view of your cash flow, and turns billing into a positive touchpoint that strengthens client relationships. Instead of juggling multiple apps for proposals, invoicing, and payments, a single, integrated platform puts you in complete control.
Anchor: The All-in-One Billing Automation Platform
Anchor stands out because it’s not just a time and billing tool—it’s a complete billing automation platform built specifically for accountants and professional services. It all starts with an interactive proposal that lets clients sign and connect their payment method upfront. Once they’ve signed, the entire workflow is automated. Invoices are sent, and payments are collected automatically based on the agreed-upon terms, eliminating the need for manual follow-ups.
This end-to-end approach does more than save time. It drastically reduces revenue leakage, often from over 5% down to under 1%. By consolidating your proposals, billing, payments, and reconciliation into one place, Anchor gives you a powerful way to manage your client relationships and gain total confidence in your cash flow.
How Other Tools Compare
Many other tools on the market focus on a specific piece of the puzzle. Some are excellent for project management and time tracking, while others are purely invoicing software. The problem is, this often forces you to stitch together multiple applications to create a complete workflow. This patchwork approach can lead to data entry errors, integration headaches, and a clunky experience for your clients.
As your firm grows, managing these disconnected systems becomes even more complicated. You might have one tool for proposals, another for invoicing, and a third for payment processing. While each might do its job well, they don't communicate seamlessly. This is where an all-in-one solution provides a clear advantage by creating a single source of truth for all your billing operations.
A Quick Look at Pricing
When you compare software, it’s easy to get stuck on the monthly subscription fee. But the true cost of your billing software goes far beyond that number. You have to consider the hidden costs of manual work, the time your team spends chasing payments, and the revenue you lose from billing errors or unbilled work. A cheaper tool might save you a few dollars upfront, but it could cost you thousands in lost revenue and administrative overhead.
Instead of just looking at the price tag, think about the return on investment. A platform like Anchor is designed to pay for itself by protecting your revenue and automating tasks that would otherwise take hours of your time. When you book a demo, you can see how investing in a comprehensive system can actually improve your firm’s profitability.
How to Choose the Right Software for Your Firm
Alright, let’s talk about picking the right tool for the job. With so many options out there, it’s easy to get overwhelmed and just stick with what you know, even if it’s causing you headaches. But choosing the right billing software doesn’t have to be a massive project. It’s really about asking the right questions and knowing what to look for. Think of it less like a chore and more like an investment in your firm’s future (and your own sanity). By breaking it down into a few key areas, you can confidently pick a platform that not only solves your current problems but also grows with you.
Define What Your Firm Really Needs
Before you even look at a single feature list, take a step back and think about your firm’s day-to-day reality. Where are the bottlenecks? Are you spending hours creating proposals, chasing down signed contracts, or manually keying in invoice details? Make a list of your biggest time-sinks and pain points. Be honest about what’s holding you back. Your goal is to find a tool that solves these specific problems. For example, if getting clients to sign proposals and pay on time is a constant struggle, you need more than just an invoicing tool. You need a system that combines proposals, payments, and invoicing into one smooth workflow, like Anchor’s interactive proposals that capture payment details upfront.
Check for Key Integrations
Your firm already runs on a set of tools you know and trust. The last thing you want is a new piece of software that doesn’t play well with others. A great billing platform should feel like a natural extension of your existing workflow, not a clunky add-on. Make a list of your essential software—your practice management tool (like Karbon or Keeper) and your accounting software (like QuickBooks or Xero). Any new tool you consider must integrate with them. Seamless integration means no more exporting CSVs or manually entering data, which saves time and dramatically reduces the risk of errors. This is a non-negotiable for a truly efficient practice.
Understand the Pricing
Software pricing can feel intentionally confusing, but it doesn’t have to be. Look past the monthly sticker price and consider the total value. Some platforms have low subscription fees but tack on high transaction costs or charge extra for essential features. Others have complicated pricing tiers that force you to upgrade just to get one specific function. Look for transparent pricing that aligns with your firm’s growth. Also, think about the return on investment. A platform like Anchor might seem like just another subscription, but when it eliminates revenue leakage and saves you hours of admin time each week, it quickly pays for itself.
Don't Skimp on Security
When you’re handling sensitive client financial data, security is everything. It’s easy to worry about moving your processes to the cloud, but the truth is, reputable cloud-based platforms often have far more robust security measures than a small firm could implement on its own. Look for software that is PCI compliant and uses data encryption to protect client information. Your clients trust you with their most important financial details, so choosing a platform that prioritizes security is a critical way to maintain that trust. Don’t let outdated fears about cloud technology hold you back from the efficiency and peace of mind that a secure, modern platform provides.
Look into Their Customer Support
Even the most intuitive software comes with a learning curve. That’s why great customer support is so important. Before you commit, find out what kind of support is offered. Is it just a generic help forum, or can you talk to a real person? A smooth implementation process can make all the difference. Some platforms are notorious for long, complicated setups, but it doesn’t have to be that way. For instance, Anchor is designed to be fully implemented in an afternoon. The best way to gauge a company’s support is to book a demo. It gives you a chance to ask questions and see if they’re truly invested in your success.
Solving Your Biggest Billing Headaches
Let’s be honest: billing can be the most frustrating part of running your firm. It’s a cycle of tedious administrative tasks, awkward client conversations, and the constant worry of unpredictable cash flow. You didn't get into accounting to chase down late payments or spend hours double-checking invoices for typos. These headaches aren't just annoying; they create revenue leaks, strain client relationships, and hold your firm back from its true potential. The good news is that you don’t have to accept this as the status quo.
The right billing software isn't just about sending invoices faster. It’s about fundamentally changing your relationship with the entire billing and collections process. It’s about eliminating the manual work that leads to errors, taking control of your payments, and freeing up your team to focus on what they do best. A platform like Anchor is designed to tackle these specific pain points head-on, transforming billing from a source of stress into a streamlined, automated, and even positive experience for you and your clients. Let's look at how you can solve some of your biggest billing frustrations for good.
Say Goodbye to Manual Entry Errors
We’ve all been there. A single misplaced decimal or a copied-and-pasted service description from the wrong client can turn a simple invoice into a week-long headache. These manual entry errors aren't just embarrassing; they erode client trust and delay payments while you sort things out. Relying on spreadsheets or manual invoice creation is like walking a tightrope without a net—it’s only a matter of time before a mistake happens.
This is where automation becomes your best friend. Instead of creating each invoice from scratch, a system like Anchor generates them automatically based on a pre-approved client agreement. When your client signs their digital proposal, the scope, terms, and pricing are locked in. From that point on, every invoice is created and sent without any manual input, completely eliminating the risk of human error. This ensures accuracy and consistency, so you can bill with confidence every single time.
Put an End to Late Payments
Chasing down unpaid invoices is draining. It puts you in the uncomfortable position of being a bill collector, which can quickly sour an otherwise great client relationship. Sending reminder after reminder feels unproductive, and the uncertainty of when—or if—you’ll get paid makes managing your firm’s finances a guessing game. Faster billing can certainly help, but it doesn't solve the core problem: you’re still waiting on the client to act.
Imagine a world where late payments simply don't happen. With Anchor, you’re not just sending an invoice and hoping for the best. Instead, clients connect their payment method (ACH or credit card) upfront when they sign their agreement. This simple step puts you in control. Payments are then processed automatically based on the agreed-upon schedule. There’s no chasing, no awkward follow-ups, and no waiting. You get paid on time, every time, turning unpredictable receivables into reliable cash flow.
Cut Down on Admin Time
How many hours does your team spend each month on billing-related admin? Creating invoices, sending them out, tracking payments, and reconciling accounts—it all adds up. This is valuable time that could be spent on billable work or strategic growth initiatives. One firm found that automation saved their office manager up to five hours per month on payment processing alone. That's time you could be using to better serve your clients.
An end-to-end billing platform automates the entire workflow. Anchor consolidates proposals, invoicing, payments, and reconciliation into a single, seamless process. Once an agreement is signed, the system takes over, handling everything from there. This massive reduction in administrative burden frees up your team to focus on higher-value tasks. Plus, with an implementation that takes an afternoon, not months, you can start reclaiming your time almost immediately.
Make Billing a Better Client Experience
Every interaction you have with a client shapes their perception of your firm, and billing is no exception. A confusing invoice, a clunky payment portal, or a dispute over fees can leave a lasting negative impression. You want the payment process to be as professional and seamless as the services you provide. A great client experience builds loyalty and makes clients feel confident in their decision to work with you.
Modern billing platforms transform this crucial touchpoint. Anchor’s interactive proposals feel more like a simple e-commerce checkout than a stuffy contract. Clients can easily review the terms, sign digitally, and provide their payment details in one intuitive flow. They have full transparency into what they’re paying for and when they’ll be charged. By making the process easy and professional, you reinforce the value you provide and build stronger, more trusting relationships.
Get a Clear View of Your Cash Flow
When you can’t predict when payments will come in, it’s nearly impossible to make strategic decisions for your business. How can you confidently invest in new software, hire another team member, or plan for tax season if you’re unsure about your cash flow? This uncertainty is one of the most stressful parts of running a firm, forcing you to operate reactively instead of proactively.
Automating your payments provides the financial clarity you need to lead with confidence. Because payments are collected automatically on schedule, you can forecast your revenue with a high degree of accuracy. Anchor’s dashboards give you a clear, real-time view of your firm’s financial health, including revenue forecasts and payment statuses. This visibility allows you to move beyond just managing day-to-day finances and start making informed, data-driven decisions that will help your practice grow.
Getting Started: Setup and Optimization
Switching to a new system can feel like a huge project, but it doesn't have to be a headache. The right software should make your life easier from day one. With a little planning, you can get your new billing platform up and running smoothly, optimize your workflows, and start seeing the benefits almost immediately. The goal is to move from clunky, manual processes to a streamlined system that saves you time and gives you a clearer picture of your firm’s financial health.
Best Practices for a Smooth Setup
Choosing the right software starts with knowing what you need. Think about your firm’s specific pain points, your budget, and which features are non-negotiable. You’ll want to look for a tool with strong integration capabilities, a user-friendly interface, and reliable customer support. Instead of juggling multiple tools for proposals, invoicing, and payments, an all-in-one platform like Anchor simplifies the decision. Because it handles the entire client engagement lifecycle, you don’t have to worry about piecing together different systems. The best part? Unlike platforms that take months to set up, you can get Anchor fully implemented in a single afternoon.
Getting Your Team On Board
Let’s be honest: team members often dread hearing the words “we’re implementing new software.” Many assume it means a long, complicated process that disrupts their daily work. The key to getting everyone on board is to focus on how the new tool will make their jobs easier. With an intuitive platform like Anchor, the learning curve is minimal. Frame it as a win for them: no more chasing clients for payments, no more manual data entry for invoices, and no more time wasted on administrative tasks. When your team understands that automation frees them up to focus on more valuable client work, they’ll be excited about the change.
How to Handle Data Migration
Moving your existing client and billing information to a new system can feel daunting, but modern software is built to make this process as painless as possible. Before you start, take some time to clean up your current data—archive old clients, update contact information, and standardize your service descriptions. Platforms like Anchor integrate directly with accounting software like QuickBooks and Xero, allowing you to sync your data securely. This ensures that all your client information, recurring billing schedules, and payment details are transferred accurately, setting you up for clean, paperless transactions from the very beginning.
Build More Efficient Workflows
Once you’re set up, it’s time to build workflows that let the software do the heavy lifting. Map out your entire client engagement process, from the initial proposal to the final payment. With Anchor, this becomes a single, automated flow. You create an interactive proposal, your client accepts and connects a payment method upfront, and from that moment on, invoices are sent and payments are collected automatically based on the agreed-upon terms. This eliminates the awkward back-and-forth and ensures you get paid on time, every time, without lifting a finger. This is how you transform billing from a chore into a strategic advantage.
How to Measure Your Success
How do you know if your new system is actually working? It’s all in the numbers. Start tracking key metrics to see the impact on your firm. You can monitor engagement margins, measure the time it takes for invoices to get paid, and analyze profitability by client or service. One of the most important metrics is revenue leakage, which Anchor is designed to drastically reduce. With a clear dashboard showing your projected cash flow and outstanding payments, you’ll have real-time insights into your firm’s financial health. Seeing these numbers improve is the ultimate confirmation that you made the right choice.
Next-Level Features to Look For
Okay, so we've covered the basics. Automated invoicing and payment processing are the table stakes. But let's be real, you're not just looking for a basic tool—you're looking for a partner in your firm's growth. The right software does more than just send invoices; it transforms your entire billing operation from a necessary evil into a strategic advantage. When you're comparing options, these are the next-level features that separate the good from the truly game-changing. Think of these as the non-negotiables for a modern, forward-thinking firm. They’re the features that will give you more control, more confidence, and honestly, more of your time back.
Cloud-Based Access
Let's face it, the days of being chained to your office desktop are long gone. Whether you're working from home, meeting a client for coffee, or (dare I say) taking a vacation, you need to be able to manage your firm on the go. This is where cloud-based access becomes essential. It means you can send a proposal, check on a payment, or view your cash flow dashboard from any device with an internet connection. This isn't just a convenience; it's a necessity for running a flexible and resilient practice. Platforms like Anchor are built in the cloud, giving you and your team the freedom to manage your billing workflows from anywhere, at any time, without missing a beat.
Mobile-Friendly Design
Your ability to work from anywhere is only half the equation. What about your clients? If they have to pinch and zoom their way through a clunky PDF proposal on their phone, you're starting the relationship with friction. A truly modern billing platform offers a mobile-friendly experience for your clients, too. Think about how easy it is to buy something online—that’s the experience you want to create. Anchor’s interactive proposals, for example, are designed to be reviewed and signed on any device. This simple touch makes it incredibly easy for clients to say "yes" quickly, often turning a weeks-long back-and-forth into a contract signed in under 24 hours.
Seamless Integrations
Your billing software shouldn't live on an island. It needs to communicate effortlessly with the other tools you rely on every day. Without seamless integrations, you're stuck manually exporting data and doing double-entry, which completely defeats the purpose of automation. Before you commit to a platform, make sure it connects with your practice management software (like Karbon or Keeper) and your accounting ledger (like QuickBooks Online or Xero). A deep integration ensures that when a payment comes in through Anchor, it's automatically reconciled in your books. This creates a single source of truth, eliminates manual errors, and simplifies your entire reconciliation process.
Revenue Protection Tools
Here’s a tough question: Do you know how much revenue you lose each year to unbilled work, manual errors, or scope creep? For most firms, this "revenue leakage" can be over 5%, which is a staggering amount of hard-earned money left on the table. Next-level billing software actively protects your revenue. Anchor does this by tying every invoice directly to a signed agreement, so nothing gets missed. It also allows you to make one-click amendments to the scope, so you can instantly adjust billing for extra work without awkward conversations. This intelligent automation ensures you get paid for all the work you do, bringing that leakage down to under 1%.
Room to Grow and Scale
The software you choose today should be able to support your firm's vision for tomorrow. As you take on more clients and your service offerings evolve, you don't want to be held back by your billing system. Look for a platform that is built to scale with you. This means having features like service templates, proposal packages, and the ability to set automatic annual price increases. These tools make it easy to standardize your offerings and protect your revenue as your firm grows. A platform like Anchor is designed not just to solve today's billing headaches, but to provide a flexible foundation that supports your long-term business goals.
The Real Payoff: What to Expect
Switching to a dedicated time and billing software isn't just about getting a new tool; it's about fundamentally changing how your firm operates for the better. It’s easy to get bogged down in the feature lists, but let's talk about what really matters: the tangible results you'll see in your business. Moving away from manual processes gives you more than just a few hours back in your week. It creates a ripple effect that improves your cash flow, strengthens client relationships, and ultimately, gives you the breathing room you need to think strategically about your firm's future.
Think of it as upgrading your firm's entire financial engine. Instead of a system that sputters along with manual effort, you get a smooth, automated process that runs quietly in the background. This efficiency is the foundation for a more stable, profitable, and scalable practice. Let’s break down the key benefits you can realistically expect when you make the switch.
Streamline Your Day-to-Day Operations
Let’s be honest, how much of your day is spent on tasks that don’t directly serve your clients or grow your business? Chasing down information for an invoice, manually entering data, or building proposals from scratch are all time-consuming chores. Time and billing software helps you manage time, invoices, and client work more easily by automating these repetitive tasks. Instead of juggling spreadsheets and documents, you have one central place to manage your entire billing lifecycle.
With a platform like Anchor, you can create a beautiful, interactive proposal in minutes, and once your client signs, the invoicing and payment schedule is set in motion automatically. This means no more manual invoice creation and no more "did I remember to bill for that?" moments. You get to offload the administrative burden and refocus your energy on high-value work, like advising your clients and building relationships.
Improve Your Collection Rate
Waiting for payments is one of the most frustrating parts of running a firm. It disrupts your cash flow and forces you into the uncomfortable role of a bill collector. The right software changes this dynamic completely. When your billing is clear, professional, and timely, you naturally get paid faster. But modern platforms take it a step further by putting you in control of the payment process from the very beginning.
Anchor, for example, transforms the client onboarding experience. When a client accepts your proposal, they connect their payment method (ACH or credit card) right then and there. This simple step eliminates the entire collections process. Payments are automatically processed based on the terms you both agreed to, so you’re not waiting on clients to remember to pay an invoice. This proactive approach means a healthier cash flow and no more awkward conversations about overdue bills.
Protect Your Hard-Earned Revenue
Revenue leakage is a silent killer for many firms. It happens through small, seemingly minor issues: a forgotten invoice, unbilled scope creep, or a simple data entry error. Over a year, these little drips can add up to thousands of dollars in lost revenue. Billing software helps you plug these leaks by creating a system where nothing falls through the cracks. It also gives you a clearer picture of how profitable your services are over time.
Because platforms like Anchor tie every invoice directly to a signed agreement, you can be confident that you’re billing for all the work you do. If a client requests additional services, you can issue a one-click amendment to the agreement, ensuring the new work is captured and billed for correctly. This level of accuracy and control is how firms use Anchor to reduce their revenue leakage from an industry average of over 5% to less than 1%.
Create Space to Grow Your Practice
When you aren't constantly bogged down in administrative tasks and chasing payments, you finally have the mental space to focus on the big picture. Automating your billing process does more than just save time; it creates the stability and predictability you need to grow your practice confidently. With improved cash flow and less administrative overhead, you can shift your focus from simply managing the business to actively building it.
This is where the real magic happens. That extra time can be invested in marketing to find new clients, developing new service offerings, or mentoring your team. A tool like Anchor doesn't just solve your billing problems—it provides a solid operational foundation. By making your firm more efficient and profitable, it gives you the resources and the freedom to pursue your long-term growth goals.
Frequently Asked Questions
How is this different from just using the invoicing feature in my accounting software? That’s a great question. While tools like QuickBooks are great for sending a bill, they only handle one piece of the puzzle. A true billing automation platform like Anchor manages the entire financial relationship with your client. It starts with an interactive proposal, secures the client's payment method upfront, and then automatically triggers invoices and payments based on that agreement. It connects all the dots so you don't have to manually manage each step.
My main issue is clients paying late. How does this actually stop that from happening? This is the exact problem we're obsessed with solving. Instead of sending an invoice and hoping your client remembers to pay it, Anchor changes the dynamic completely. When your client signs their proposal, they connect their payment method—either ACH or credit card—right then and there. This puts you in control. Payments are then processed automatically on the agreed-upon schedule, which means there are no late payments to chase down.
I'm a small firm and don't have time for a complicated software setup. How long does it really take to get started? We hear this all the time, and it's a valid concern based on older, clunkier software. But modern platforms are built differently. You can get Anchor fully implemented and running in a single afternoon. It’s designed to be intuitive and integrate smoothly with the tools you already use, so you can start saving time right away without a massive, disruptive project.
What happens when a client's scope of work changes mid-year? Is it a hassle to update everything? Scope creep is a classic headache, but it doesn't have to be. Instead of creating a whole new contract and starting a messy email chain, Anchor lets you make one-click amendments to the existing agreement. You can instantly update the scope, services, and billing terms. This keeps everything accurate and transparent for both you and your client, turning a potential point of friction into a simple, professional update.
Does this only work for clients on a monthly retainer, or can I use it for one-time projects too? It’s built for both. Your firm likely has a mix of recurring and one-off work, and your billing system should handle that with ease. Within the initial agreement, you can set up any kind of billing schedule you need. Whether it's a monthly retainer, a one-time project fee, or a hybrid model, the system automates the invoicing and payments according to those specific terms.
