Anchor Engagement Letter Software: Dashboard & Settings

Anchor is the software I’m currently using to send engagement letters and collect payments.
 
Anchor is not the fanciest software, but it’s decently priced and easy to use.
 
This blog post will show you the dashboard and settings.
 
For more detailed information, including pricing, visit sayanchor.com

Anchor Dashboard

When you log into Anchor, you’ll see the dashboard and a menu on the left:

Anchor engagement letter software dashboard

The dashboard gives you a snapshot of how you’re doing.

Invoices Pipeline

The Invoices pipeline shows you how your current invoices are doing.

The Invoices pipeline on the Anchor dashboard

I’ve only had invoices show up in Required attention when a payment was declined.

Expected to be paid shows invoices that are paid but the money hasn’t hit your bank account yet.

Agreements Pipeline

The Agreements pipeline lets you know how your current agreements are doing.

The Agreements pipeline on the Anchor dashboard

Pending proposals are proposals that are waiting to be accepted.

Approved agreements are all agreements that clients have accepted.

Expected Earnings

Expected earnings show you all payments collected and pending for the current month.

The Expected earnings section on the Anchor dashboard

In your bank account are payments that have hit your bank account.

Collected successfully is very close to the Expected to be paid amount in the Invoices pipeline minus fees. (You can pass fees to your clients, I choose to include it in the cost of the invoice.)

ACH processing includes all ACH payments that have yet to hit your bank account.

Future payments show the amount expected to be paid by the end of the month based on the invoices you’ve issued, excluding Anchor fees.

Account Settings

There are two sections of settings.

In the left side menu, you’ll find a Settings section, which is all account-related.

Settings section where you'll find account settings in Anchor

Business Details

This section includes your logo, business name, and address.

Business details section of settings in Anchor

Team

This includes your list of team members as well as a button to invite new team members.

Team section of settings in Anchor

Integrations

You have the option to connect QuickBooks, Zapier, and Slack.

Integrations section of settings in Anchor

Proposal Settings

You’ll find the settings for proposals under Proposals -> Default settings in the left side menu.

Proposal settings in the Anchor left side menu

General Settings

Terms and conditions is where you select the terms and conditions you want to use. You can use Anchor’s  Mutually Beneficial Terms and Conditions or upload your own.

Selecting terms and conditions for proposals in Anchor

Amendment auto approval let’s you set how long a client has to accept a proposal before it’s automatically approved.

Amendment auto approval in the proposal settings of Anchor

Number of days until payment is due lets you set how long the client has to pay. I prefer to accept payment on acceptance.

Number of days until payment is due option in the proposal settings of Anchor

Clients have the option to pay by ACH or credit card. Credit card process fee is paid by lets you select who pays the credit card processing fees if the client opts to pay with a credit card.

Setting who pays credit card fees, you or the client, in the proposal settings of Anchor

The Request Accountant Access to a client’s Anchor account checkbox lets your team view your client’s Anchor account information, including invoices, agreements, and payments, and manage payment methods.

The Request Accountant Access to a client's Anchor account checkbox in Anchor's proposal settings

Automatic Service Settings

Billing is done lets you set when the client gets billed for recurring services.

Billing day for monthly services gives you the option of billing on the 1st-27th of the month.

Billing day for weekly services lets you pick which day of the week clients get billed.

Checking Issue an invoice on proposal acceptance lets you invoice a client on the day a proposal is accepted. Regardless of when the next billing date is.

First-month proration charges the client for what’s left of the first month. I prefer not to do this, as we’ll be working on an entire month’s worth of bookkeeping regardless of when the work starts.

Automatic service settings for proposals in Anchor

Introductory message templates are the messages sent to new or existing clients for onboarding. This is just a template, you’ll be able to edit these for each proposal.

Introductory message templates in proposal settings for Anchor

That covers the dashboard and settings. In another blog post, I’ll cover creating and sending proposals.

If Anchor looks like software you’d like to use, you can get a $50 credit when signing up with my affiliate link: https://join.sayanchor.com/dcjMNB

Below are videos if you prefer to watch a walkthrough.

If you have questions about using Anchor for your bookkeeping engagement letters click the green button below to schedule a free consultation.

Need some one-on-one QuickBooks assistance?
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This content is for information purposes only and should not be considered legal, accounting, or tax advice, or a substitute for obtaining such advice specific to your business. Additional information and exceptions may apply. Applicable laws may vary by state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. Gentle Frog, LLC does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. Gentle Frog, LLC does not warrant that the material contained herein will continue to be accurate, nor that it is completely free of errors when published. Readers and viewers should verify statements before relying on them.

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