![]() Yet, accurate time tracking still continues to be a significant concern for many legal practice managers. Not only that but tracking billable time also allows a practice to identify and address any inefficiencies that are taking place in the law office and make the necessary changes to get everyone back on track. Almost everything that brings profit to a law firm is based on attorney time and tracking it accurately is a crucial component to a law practice’s success. Time is truly the most valuable commodity in the legal profession. Why Accurate Time Tracking and Expense Tracking is Crucial for Your Firm’s Success Here is a good example of a situation where an engagement letter should set some clear expectations of your firm’s billing procedures: You can even include what types of options your firm has in place for billing clients (regular mail, email or through an online portal) and what types of payment method is acceptable (mail in checks, in person payments or an online payment system.) By setting your billing and payment expectations up front, you can avoid misunderstandings down the road when you bill clients for services already rendered.Ĭlear expectations will almost always lead to better communication, less misunderstandings and an overall more positive relationship with all your clients. They should also include billing terms and policies, such as the frequency of billing and how the payment process will be handled. These types of documents should outline the scope of your work, the types of services you plan to provide, and a breakdown of how fees are billed. ![]() This can be done through simple and straightforward engagement letters and engagement agreements. One way is to communicate your billing guidelines and expectations clearly to your clients, even before you start working on their cases. This is why it can be helpful to set realistic billing standards and expectations well before a new client asks to retain you for your legal services. Even in today’s highly tech era, word of mouth is still a valuable asset for many legal practices, regardless of their size or location. Having a valued client decide to dispute a specific charge has harmed many law firms reputations and has led to lost business. ![]() Flexible: Our standard products have all the core features you need and can be easily custom-tailored to meet your current and changing requirements.Why Setting Clear Billing Expectations Leads to More Profit and ProfessionalismĪs a legal professional, you know that billing disputes can be a headache in more ways than one.Powerful: Built for performance and productivity, with scalable tools and interfaces that reach out to your entire organization and integrate with enterprise applications.We never underestimate the importance of simplicity and usability. Simple: Making you feel comfortable with your software is our #1 priority.Related reports make it easy to see how much timekeepers have earned. Powerful compensation rules give you the flexibility to allocate payments the way you want to.Collection reports show you which clients are late with payments.Bills and reports can also be saved as PDF's for easy e-mailing. Helps you look more professional with updated design and customization of reports and statements.Multi-level security so that attorneys and staff only see information they are supposed to see.Flexibility to bill the way you want to and customizing the look of your bills.Provides insight into your law firm's productivity and profitability by area of practice, case and employee.Quick access to the client information you need, such as recent bills, unbilled work, payments, and accounts receivable.Tracks which members of your law firm still need to turn in time or sign off on a final bill.Makes it easy to submit your time for billing.Helps you remember all of the time you should bill.Simplifies all of your legal billing tasks like tracking time, billing clients and recording payments.Client Server version available to meet the demands of mid-sized law firms.Accept credit card payments so that you can get paid even faster. ![]()
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