Billing clients depends on a number of factors ranging from who they work with, how much time and resources are required for a particular matter, how many matters the firm is handling for the client, and more. Firm admin users can set up each firm user’s billing rate. Each timekeeper in the firm can have …
To delete a hard cost: Unbilled Status To delete an unbilled expense: From the left navigation panel, click Banking. Click the Bank account to highlight it, and scroll down to view the associated Transactions. Highlight the Hard Cost with a single click, then click on the three dots to the right. From the drop-down menu, choose …
Hard cost expenses involve merging an operating bank account transaction (accounting) with a matter expense card (billing), making the process of editing such expenses intricate. The suitable course of action depends on which transaction element you intend to modify. Important: Altering the details of a hard-cost expense is not possible. Instead, delete the expense from …
Hard cost expenses pertain to out-of-pocket transactions eligible for subsequent reimbursement. In a single transaction, you can allocate these expenses to multiple matters and firm costs. Examples of such expenses include: Filing fees Postage Expert witness fees Court costs Watch a Video Tracking these reimbursable costs separately ensures accurate revenue accounting, offsetting your Profit and …
Occasionally, you may need to delete, void, or edit a pre-existing multi-matter hard-cost operating transaction. Please take caution when undertaking these actions, as they can impact your General Ledger, Accounts Receivable, and WIP reports. Deleting a Multi-Matter Operating Transaction Deleting a multi-matter operating transaction with unbilled matter expenses deletes the associated expense cards from the matter. The system will not allow you to delete the transaction if any …
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Software such as Lexmark, Ricoh, Canon, Copitrak, Papercut, and Xerox can track certain soft cost expenses, such as photocopies and printing. The software produces .txt files you can download to import the data into the application. Custom importing your soft costs involves two steps: Add the import definition. Import the custom file containing your soft …
The desktop time tracker allows you to keep track of your time for any activity that you may be working on. Install the Time Tracker To install the time tracker: From the navigation panel, click Time. From the time menu, click Timesheet. From the tabs atop the timesheet, click Tracker. From the options in the …
If a phone message is associated to a matter, you can bill for it. To add a timecard to a phone message: From the left navigation panel, click Practice Management. From the Practice Management menu, click Phone Messages. From the list of messages on the screen, select a message that is linked to a matter and click on the …
Generate a timecard effortlessly by converting events, tasks, notes, or emails into it, ensuring precise billing for your actions.
Keeping track of multiple timers enables you to easily monitor time for various activities, accounting for interruptions.
The Global Timer facilitates seamless transitions between tasks, ensuring precise time tracking for your matters. This feature enables you to monitor time for various activities, including interruptions. It’s important to note that only one timer can be active at any given time.
Tailor your billing frequency to align with the specific requirements of your firm and clients. Assign the chosen billing frequency to Client-Matters, enabling you to filter Matters with applied billing frequencies when generating invoices or Pre-bill reports.
Once you’ve enabled a matter for split billing and configured it to split the bill with other matters, you can start splitting bills between the main matter and secondary matters. At times, the financial responsibility for a particular matter is shared among multiple parties. Split billing facilitates the division of fees and expenses associated with a single matter across multiple matters.
When billing by task rate, you establish rates for specific tasks, and these rates are then recorded on timecards.
Due to the extensive range of Uniform Task-Based Management System (UTBMS) codes and the preferences of many audit houses/processors that permit only specific codes, the risk of incorrect code usage is elevated. This increases the likelihood of nonconforming bills being rejected.
Understanding the billing workflow, from creating a matter to receiving payment for an invoice, is crucial for ensuring a smooth and efficient billing process.
To optimize the organization of your matter expenses, we have separated them into two distinct categories: hard costs and soft costs.
Enhance the efficiency of your time entries by incorporating shorthand in your descriptions. Default shorthands have been included for your convenience. It is advisable to review the list before generating new shorthands.
Introducing a time tracking dashboard that provides a swift overview of users’ billable entries for the day, week, and month. Users can seamlessly add, edit, or delete billing entries and make modifications within existing entries directly from the time tracking calendar.
Streamline the process by effortlessly adding a timecard to these billable items from the Money Finder, ensuring that you capture all billable time effectively.
While handling Hourly matters, the system automatically utilizes the default rates of each Timekeeper to compute the value of the entered time. Nevertheless, there might be instances where a matter stands out or is uniquely structured, prompting you to adjust the billing rate for that specific matter, deviating from the default Timekeeper billing rates.
Once you enable eBilling in a matter, eBilling codes will become available when entering time or expense cards. Normally, standard UTBMS codes are used for this purpose, but your clients might specify different codes to use.
On the selected Time/Expense, double-click the timecard which will appear in the right-hand column; scroll up to view all the timecard details. You can also single-click it to highlight the expense, then click on the 3 dots to the right.
The process for editing a soft cost depends on whether your firm has billed for it.
Soft costs are also known as indirect costs or cost recovery. They are “in-house” items generally considered part of your firm’s overhead, a portion of which may be attributed to your client.
You can add a timecard to an hourly matter that charges a flat fee instead of an hourly rate. This works well for matters requiring a type of hybrid billing, or for flat fee matters for which you want to itemize flat fee tasks on the invoice.
On the selected Time/Expense, double-click the timecard which will appear in the right-hand column; scroll up to view all the timecard details. You can also single-click it to highlight the timecard, then click on the 3 dots to the right of the timecard.
You can edit a timecard, whether it’s billed or unbilled, provided you have the necessary permissions. However, once an invoice is finalized, you would need to unfinalize the timecard to make any required changes.
This article will walk you through the various fields of a timecard, offering guidance on efficiently adding your time.
Changing the billing method associated with your matter is possible, but it depends on two factors.
Choose from various billing methods: hourly, fixed fee, and contingency to support your firm’s various billing needs.
