This guide explains how Bank of Hours works and how to manage Bank of Hours client types.
Background:
For efficient Client management, our Bizman platform caters to three types of clients:
- Bank of Hours - These clients pre-purchase a set number of hours upfront and track their usage on tasks or projects with you.
- Retainer Clients - These clients pay a fixed monthly fee for pre-determined working hours.
- Pay As You Go Clients - These clients are billed for the exact amount of time consumed on their projects.
When adding a new client, you can select their billing type (Bank of Hours, Retainer, Pay As You Go). Learn more about adding clients in Bizman here.
Understanding your client types and utilizing Bizman's flexible billing system allows for better time management, accurate billing, and improved project delivery.
Understanding Bank of Hours
A Bank of Hours is a feature within our business management tool that allows your clients to pre-purchase a set number of hours and track how those hours are used on tasks or projects with you. Think of it as a virtual account where your clients deposit time upfront. As your team members work on specific tasks for these clients, their time spent is deducted from the hours balance.
Managing Bank of Hours Type of Clients in Bizman
Bizman provides a streamlined process of managing client types, ensuring accurate tracking, efficient client collaboration, and transparent billing practices.
Clicking the Clients section under "Management" will direct you to the Client List table.
Within the Client List table, clients can be identified by the prominent blue badge labeled "Bank of Hours." Below this badge, you'll see the total purchased bank of hours and the available hours at a glance.
Client Dashboard:
Each client has a dedicated dashboard you can access. You'll find a "Go to Bank" button within the client's dashboard. (Alternatively, click the three-dot icon in the Client List table and choose Bank Hours.)
Clicking this takes you directly to the Bank of Hours page specifically for that client. 
Here, you can perform various Bank of Hours management functions:
- Add Bank Hours – Add new hours for a client by purchasing additional hours.
- Edit Bank Hours - Modify existing Bank of Hours details, such as the purchased hours.
- Delete Bank Hours - Delete Bank of Hours from a client's account.
Monitoring Bank of Hours Usage:
The Bank of Hours page also provides a clear breakdown of the client's Bank of Hours status, including:
- Total Hours - The total number of hours originally purchased.
- Consumed Hours - The total number of hours already used by the client's team.
- Available Hours - The remaining number of hours the client can utilize.
- Expired Hours - Displays hours that have expired.
Bizman Bank of HoursNotifications Process
As part of our Bank of Hours client management service, Bizman sends notifications to administrators or users with "view admin notification options" permission regarding Bank of Hours status to ensure efficient management. These notifications alert management for the following conditions:
Bank of Hours Expiry
Admins receive notifications when specific Bank of Hours clients have hours expiring in a specified number of days. This ensures that administrators can take necessary actions to utilize these hours effectively before they expire.
Low or Nearing Depletion Bank of Hours
Admins are notified when the available Bank of Hours for specific clients is running low or drops below a set percentage. This prompt allows admins to replenish Bank of Hoursor allocate additional hours to prevent any disruptions in service provision.
Where to Change Settings for the Notifications
You can choose how often Bizman sends you Bank of Hours Notifications by adjusting the number of days or setting specific percentages within Bizman Settings. Only users with "access general settings" permission will have access to "Bizman Settings."
Step 1: Access Bizman Settings: Click the Settings Dropdown and choose Bizman Settings from the dropdown.
Step 2: In Bizman Settings, Navigate to the Bank of Hours section.
Here, you can enter your desired values for the following:
Bank of Hours Running Low Notification (%) – This feature allows you to define the threshold percentage that prompts an email notification. When a client's bank of hours falls below this set level, an automatic email notification is triggered to alert you.
Bank of Hours Near-to Expiration Notification - This field lets you choose when to receive email reminders about expiring client bank of hours. Type in the number(s) of days before the Bank of Hours expires that you want to be notified.
You can enter multiple days separated by commas to receive reminders at different intervals. Example: If you enter "10, 5", you'll receive notifications ten and five days before the client's Bank of Hours expires.
Effectively managing a client's bank of hours is essential for maintaining a transparent and successful client relationship. By setting clear thresholds and utilizing automated notifications, you can ensure timely communication and proactive management of client hours.