Understanding the billing workflow, from creating a matter to receiving payment for an invoice, is crucial for ensuring a smooth and efficient billing process.
| Step |
Action |
How & Important things to know! |
| 1 |
Add a Matter
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Begin by accurately creating a matter in your system, capturing essential details such as client information, case type, and billing arrangements.
Define clear billing terms and arrangements, specifying whether you’ll bill on an hourly basis, flat fee, contingency, or other agreed-upon structures. For billing, the special focus should be on the following key aspects:
- Billing method
- Rate level
- Localized Billing rate, if applicable
- eBilling setup (LEDES Billing), if applicable
Additionally,
- Fees must be recorded for Fixed Fee and Contingency matters.
- For additional information, see:
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| 2 |
Enter Time
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Ensure timely and accurate recording of billable hours, if applicable, by legal professionals involved in the matter.
- Start creating timecard entries to accumulate unbilled balances for your client.
- Even for fixed fee and contingency matters, you can enter timecards for internal time-tracking purposes.
- Internal time entries are marked as non-billable and won’t be displayed on the invoice.
- Refer to “Add and Manage Time Entries” and “Tracking Time with the Timesheet and Timers” for detailed steps on tracking and entering time.
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| 3 |
Enter Expenses
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Implement effective expense-tracking mechanisms to capture both hard and soft costs associated with the matter.
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| 4 |
Review Pre-Bill &
Generate Invoice
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- If you have enabled the invoice approval settings:
- If you have NOT enabled invoice approval:
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- After entering your time and expenses for the billing period, it’s crucial to promptly create invoices. Ensure that the invoices detail all relevant expenses, time entries, and any applicable taxes or fees.
- A generated invoice is considered approved by default.
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| 5 |
Send Invoice
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- Print or email invoices to your client for payment.
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| 6 |
Apply Payments to Invoice
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You have multiple options for applying payments to invoices, including:
- Check/Cash from Client: Manually recording payments received in the form of checks or cash from the client.
- Integrated Payments (In-house and Online): Utilizing integrated payment systems for both in-house and online transactions, streamlining the payment process.
- Payment from Trust Retainer: Applying payments from a trust retainer to cover outstanding invoice amounts.
- Payment from Operating Retainer: Using funds from an operating retainer to settle invoice charges.
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| 7 |
Collections
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Utilize the Overdue Invoice Reminder feature for a swift and efficient method to notify your clients of overdue invoices. |
