Time & Billing

Time, WIP & Billing Software for Accountants From logged hour to collected fee, without the spreadsheet.

Name: Praxio
Brand: Praxio
Availability: OnlineOnly

Capture time against jobs, route it through approval, and watch approved billable work become WIP you can invoice. Then invoices, quotes, credit notes, write-offs and a running client ledger — one chain, fully reversible.

Book a Demo See Pricing

Time to cash, one unbroken chain

Every step hands the next one a number it can trust, which is what makes realization reporting mean anything at the end of it.

Stage 01
Capture
Staff log time against a job or task with duration, billable flag and rate — via a running timer or the weekly timesheet. Entries record between 1 and 1,440 minutes.
Stage 02
Approve
Time is submitted for manager approval. Nobody approves their own unless they are an administrator, and a rejection requires a comment explaining why.
Stage 03
WIP
Approving a billable entry records hours multiplied by rate into the job’s WIP ledger — the running balance of work done and not yet billed.
Stage 04
Invoice
An invoice is built with line items, automatic tax resolution, discounts, optional rounding and sequential numbering. Only drafts can be edited.
Stage 05
Send
Sending stamps the time, generates a branded PDF and deducts WIP for the referenced jobs. The invoice becomes visible in the client portal.
Stage 06
Collect
Your team records the payment against the invoice. The balance and status update automatically and the client ledger records it.

The full billing surface

Not just invoices — the adjustments a real practice needs when a fee gets negotiated, a client prepays, or a job turns out to have been under-scoped.

Invoices

Line items, automatic tax resolution, discounts, rounding and sequential numbering per practice entity.

Quotes

Create, send and track quotes. Clients accept or decline in the portal; accepted quotes convert to invoices.

Credit and debit notes

Issue against invoices or clients, within the outstanding balance, without editing a finalised document.

Write-offs

Write down what will not be collected, with the WIP and ledger consequences applied automatically.

Discounts

Percentage or flat, per line item, bounded so a percentage cannot exceed 100% or a flat amount the line total.

Advances

Record client prepayments and apply them against invoices as work is billed.

Client ledger

A running, authoritative account history per client — the record you reconcile against, not a report you rebuild.

Bad debt

Flag an invoice as bad debt once it has been sent and while it still carries an outstanding balance.

Financial periods

Firm-wide open, closed and locked periods that control when anything may be posted. A locked period is sealed permanently.

Statements

Per-client account closings and statements, generated from the ledger rather than assembled by hand.

Realization reporting

Realization, profitability and utilization reporting built on the WIP ledger rather than on estimates.

Where the platform refuses

Billing is the part of a practice where a permissive system costs real money. These constraints are enforced.

Only draft invoices can be edited. A sent invoice is corrected by credit note, write-off, or void and re-issue.
Payments, credit notes and write-offs apply only to invoices that have been sent and are unpaid, and cannot exceed the outstanding balance.
Only pending time entries can be approved or rejected. Approved entries cannot be edited or deleted.
A user cannot approve their own time entries unless they are an administrator, and rejecting one requires a comment.
A line-item percentage discount cannot exceed 100%, and a flat discount cannot exceed the line total.
A quote can be accepted only while it is Sent and within its validity date, and only an accepted quote converts to an invoice.
Only one financial period may be open at a time, and periods cannot overlap.
A locked period is sealed permanently and cannot be reopened by anyone.

Frequently Asked Questions

Frequently asked questions

How does time become billable value?

Time is logged against a job or task with a duration, a billable flag and a rate, then submitted for approval. On approval of a billable entry, its value — hours multiplied by rate — is recorded into the job’s WIP ledger. Unapproved time never reaches WIP.

Can someone approve their own time?

No, unless they are an administrator. Only pending entries can be approved or rejected, rejection requires a comment, and once an entry is approved it can no longer be edited or deleted.

What is the WIP ledger?

An append-only record of unbilled value per job: approved time, write-ups, write-downs, invoicing deductions and reversals, each with a running balance. Sending an invoice deducts WIP for the jobs it references; voiding that invoice restores it.

Can we edit an invoice after sending it?

No — and that is deliberate. Only draft invoices can be edited. A finalised invoice is corrected the way an audit expects: a credit note, a write-off, or voiding and re-issuing.

What exactly does voiding reverse?

The entire financial footprint of the invoice — ledger entries, payments, credit notes, write-offs, discounts, the WIP deduction, and any advances that had been applied to it. You are not left reconciling fragments by hand.

How is tax applied?

Tax rates are configured per firm and resolved automatically against the client’s jurisdiction when the invoice is built. Rounding precision, currency, invoice prefixes and numbering, payment terms and fiscal-year start are configured per practice entity.

What are financial periods for?

They control when transactions may be posted. Only one period is open at a time, periods cannot overlap, and the status flows Open to Closed to Locked. With periods enabled, creating invoices, payments, credit notes, debit notes and write-offs — and voiding invoices — is blocked outside the open period.

Explore the platform

See Praxio on your own engagements.

Book a walkthrough and we'll configure it around the way your firm actually works — your engagement types, your review steps, your billing model.