Month: July 2017

31 Jul

3 Tips to Improve How You Collect Legal Fees

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If you’re an attorney, then you understand that lawyers have a hard and unorthodox job. The profession requires countless hours working on a case, that doesn’t exactly fit into the regular format of a nine to five job. Nevertheless, you expect to be paid for their services, just like any other working person. Unfortunately, there are times when the client won’t able to pay their bills. This article will discuss ways to protect yourself before you suffer from unpaid legal fees; as well as give you several unique ways to help collect money owed.

 

Getting Prepared Before Legal Fees Are Owed

You will put yourself in a better situation to handle the collection process, if you already have a system in place to help you keep up with your time spent and preparation work done for the client. You may wonder, “How can investing in legal billing software help me?” Or you may say, “I don’t need to spend money on a system to only put in time and produce an invoice.” Look at few reasons why law firm billing software can help you.

  • Time and Billing Management – Law firm billing software can integrate client meetings, court dates, and other events. In addition, it can also link documents, emails, messages, and notes to client records for organization
  • Beneficial Features – Billing management is only a part of what legal billing software can help with. It can also serve as knowledge management by giving users

access to online legal library, client management features, and legal form automation.

  • Special Collection Reports – As an attorney, you can find fully financial integrated system that comes with expense tracking, budgeting, and delinquent accounts alerts. Not only is this good for legal fees, it also monitors the overall cash flow of your firm.

Law firm billing software can help you keep up with all financial records and services rendered as well aid you in your day to day functions. All things considered, it will prevent you from spending time go over books; while also pointing out which legal fees are due and for how much. Simply, find one that best fits the needs of you and your firm.

 

Taking Effective Action to Collect Legal Fees

Now that you know the proper software, to help calculate fees and monitor delinquency, you can focus on obtaining what is owed to you. When it comes to collecting legal fees from clients, there are a million and one ways to do so. Consequently, not every way will yield the best results. It is highly important to make sure that sure that the methods you are using are effective; as your only main goal is to get your money. Here are three tips in progressive order to help you collect legal fees.

 

Be Personable

Here is a fact: the more you harass a client and come across as insensitive; the more likely they are to avoid you. Sometimes it takes a little human concern to collect the legal fees owed to you. First, try understanding your client’s situation by talking to them to see why they can’t pay. Situations such as: medical emergencies, lay-off, and other life events can have an effect on a person’s financial status. After determining your client’s circumstance, agree on a payment plan that best suits the both of you. Or one that the customer can afford to pay weekly or monthly. Remember, even getting back your money in small increments is better than not receiving money at all.

 

Write a Demand Letter

The next step in the collection process is a little more drastic. When you can’t reach the client or they aren’t willing to pay you, a demand letter would be the next best option. While a demand letter isn’t required by law, it is the best way to make sure that your debt is paid. As it provides proof of list of services rendered, the itemized currency, and the total amount of fees. Ultimately, demand letters are an overall effective attempt to collect legal fees.

 

File a Lawsuit

After trying to understand your client and writing a demand letter, the final  effective step would be filing a lawsuit. Unfortunately, it doesn’t look good for an attorney to sue someone. So, you can even try working with a third-party accounting  law collection agency before filing a lawsuit. Nevertheless, seeking legal action has

significance to make the client pay what they owe to you.

 

Collecting debt owe to you, can be a frustration task. However, if all these steps are taken you are sure to have success.

 

30 Jul

Time Billing 101

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Tim Billing 101 For Lawyers With Law Firm Billing Software

Law firm billing software and legal billing software will help you lay out billing and hours for your clients. They will pay you based on the hours you have listed, and there are many different things that you may do inside the program. This article explains how you may use the program to prevent a loss of capital when you are billing, and you will find that the billing process is much simpler once you have the software on your computer. The University of Georgia, Harvard law school case management team and schools like it teach billing, and you must be quite thorough so that you are not charged with perjury.

 

Law Firm Billing Software

You may use law firm billing software to ensure that you have all the hours you have worked written down. Legal billing software will help you ensure that you have all the hours you have worked listed for each client, and you will find that the billing software tells you everything you need to know about each client. You may go deeper into the accounting portion of the programming, and there are many people who will receive bills through this system because it is fast and simpler.

 

There Are Many Invoices To Be Sent

You may send quite a lot of invoices through the program that show up as emails and texts, and your clients will make payments to you through the online system that has been established. The purpose of the system is to make working with your clients simple, and you will find that there are many different ways to entice your clients to pay.

 

 Accounting

You may use the software to ensure that you are transferring information to your accounting program, and there are many different people who are receiving accounting information that will be beneficial to you. You may send it to your accounting program, and you will find that you may coordinate with the program. This helps you complete your taxes, and it ensures that you are using the appropriate information for your office. You must file your taxes every year in the proper manner, and you may print information from the program that will help you file your taxes.

 

Split Payments

The split payments you take from your clients may be divided among a number of different places, and you may have payments sent to you to through the court. You must record all the payments you have made to ensure that you have all your money coming in, and you may check cash flow every day. You will receive notifications for your payments, and you will find that there are many different people who are sending you payments every day. You must notate every payment you have received so that you know who has paid and who has not.

 

Notifications

You will receive and send notifications in the program, and you may send them out through the program. There are many different people who wish to have their notifications sent to them on a regular basis. There are many people who will pay the moment you have sent the notification. This is a much faster way for you to solicit payments from the people you represent, and it prevents you from spending all your time sending the notices. Your clients will be notified the moment they should pay. The system does the work for you, and you will find that there are a number of ways to schedule the notifications in the system.

 

Simplifying Your Life

You may simplify your life and work when you are using this program, and you will find that it helps you bill for all the hours you have worked to represent your clients. There are many different people who are missing payments because you are not telling them that they need to pay, or you are sending letters that simply take too much time to mail. You will save yourself time and money when you are doing this, and you will have a software program that does everything for you.

The accounting and billing program you use for your law firm will help you save money, take payments and retain as many clients as possible. You will have much better billing experiences when you are notifying your clients, and you notice that your clients are not bothered by the notifications you have sent. You will have a simple billing process that helps your clients make payments on-time.

 

29 Jul

5 Strategies to Increase Profit to Your Firm’s Bottom Line

 

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Many legal firms have not been able to register any profits. They have had their profits remain flat. This is according to the year-end economic report at the legal Information Institution. For a thriving firms it should giving in more cash. This is as it continually matures over time. However the growth should not be in expense of profits. What many are asking is how to get back the profits to be growing again. What many experts have in mind is improving the top line growth.

 

Centralizing client records is essential.

  • Many of the law practitioners use revenue to gauge the financial health. There has been a growing trend of using the profit margins. The business effectiveness is then determined by that. Normally the revenues are able to get all the attentions. That is the reason why the attorneys work to raise. They however lead to overlooking of some important data. Such data impact heavily on the bottom line profit.
  • The today’s growth of technology has also impacted the line of law heavily. The client records are not filled in documents anymore. They utilize much of the digital products. This are the emails and time keeping software. This also includes the firm billing software. The traditional paper documents are still in use up to date.
  • The documents can be found in different Legal Information Institute. This may be due to shared cases therefore documents gets to be stored at different places.

 

Better management is the key.

  • Getting to manage all this is not easy. It is time wasting and uses a lot of labor. Getting a good deal out of this is having a non-billable time. Getting of inaccurate records can often lead to billable time. This in most cases affects the profitability. The solution to this is having a much more centralized system. This gets everything to one accessible place. This speeds up the normal working related process.
  • Getting and being able to managing billable time leads to high profitability. Especially in the large firms fluctuation in this results to inaccurate rates. This in many cases affects the process.
  • This in term of the lost billable time and the lost hours. The legal billing software should be constantly checked.

 

Timekeeping is important.

  • Such a case leads to wastage of money. A working capital is often needed to cover the expenses. The time keeping to most experts is just consuming time. This time would rather have been used on the billable work. The growth of technology has led to the development of Law firm billing software. The law firm billing software help create a more simplified uniform billing steps. The legal billing software helps in keeping time keeping be a painless task.
  • Most of the legal billing software enable high accuracy therefore more time is able to be billed. The better management of the hours leads to a higher chance of profitability. The legal billing software has greatly assisted this companies manage time. The other important point is being able to work smarter. The good time management is equals to higher productivity. Higher productivity translates to profitability.

Staff productivity is about working smart.

  • The productivity highly relates to the staff member. What should be highly be encouraged is not working hard but smart. The legal billing system just allows them to do exactly that.
  • The term productivity should not be confused with activity in paralegal. Activities mostly are involved with the wastage of time. This includes looking for certain files and also cleaning. The productivity refers to the reduction of wasted time.
Marketing and demographics
  • They act by simplifying the task using the law firm billing software. There therefore is no wasted time. This means that much time will be used in actual law practice.
  • The company should also be made to view its bigger picture. This will greatly assist the firm in marketing and also the demographics. There are other simple losses that a firm gets to loose. Normally through their clients. This should be avoided at all cost.
  • The simple case of a perjury can cost an institution a fortune. This indirectly affects it. The institution should be careful when dealing with the clients. This offer better customer services which is important to both the parties.
  • It is recommended that a financial plan is important for any business activity. In this case the revenues and all the expenses should be noted down. Having such a plan in ones realm is a great tool to getting a profit.
Summary.
  • A law firm is basically a business. Like any other business activity profitability is the gauge to get to the financial situation. Available legal billing software is important in managing the company. This will eventually lead to increased profitability in the long run.

 

28 Jul

9 Common Billing Mistakes Made by Attorneys

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Billing Issues That Might Create Friction And Confusion

Most businesses in the service industry have billing needs and attorneys who have clients are not any different. Law firm billing software can meet the attorney’s needs in ways that a general software can’t. Software is a necessity in any business, whether it is used to create a basic powerpoint presentation or to keep up with the hourly pay of your staff members, and a law office is no different.

It is unfortunate, that in some cases, a client will disagree with the charges made towards their bill; and no lawyer, attorney, or firm ever want to encounter such a dispute without the proper proof to counteract the allegation. Keeping up with proper billing reports and having a software to ease the pain can help a law firm avoid losing money on accurate billing practices.

Law firms also don’t want to take the fall publicly for attorneys who lie or commit perjury on their legal bills. By studying an online source called the Legal Information Institute and learning the best way to practice law, an attorney can avoid embarrassing his/her firm. However, there have been some cases where an attorney chose not to follow guidelines and add fees on a bill to cover personal expenses that had nothing to do with the client. If discovered by the client, this could dangerously ruin any good business’s name and character. Law firms across the United States know and understand that there are a plethora of different solutions that can be used when it comes to billing practices. Many firms employ a number of different solutions to fully manage their billing needs, that is where a law firm billing software also known as legal billing software can help. Two reasons are mentioned above why billing software is a must, below is a list of seven more.

 

  1. Billing Descriptions Which Aren’t Clear

Legal billing software is the simplest way to stop a client from disputing specific or unwanted charges. The information should enclose adequate details avoiding estimated charges and contain the date that the job was performed and the time spent doing the job.

 

  1. The Ideal Price

In some cases, an attorney may undercharge the client and exclude the total hours of when the job started. Charging the right price will allow the attorney to keep the same rates for all clients and also help with the process of explaining specific rates.

 

  1. Utilize The Technology Of Today

Technology is designed to make our lives simpler, allowing us to do things effectively and quickly. That is just as accurate with law firm billing software applications as it is with television remotes. Solutions that are wrong may complicate things, demanding an attorney to take an hour or so to achieve something which could have been completed in ten minutes using paper and pencil. The best choice is to give critical thought to the challenges that are faced and locate a technology that handles these needs. Using a program like the Differentiated Case Tracking Program will help an attorney recognize the difference in cases and pricing.

 

  1. Be Clear And Concise Throughout The Entire Process

Misunderstandings can arise within the range of work and in the event the customer is presented with an invoice that was larger-than-expected, it reflects on the firm negatively. A way to prevent that is to ensure customers are kept current during the whole process. Clients loathe being charged for work which they haven’t seen. It’s good practice to send the work to a customer before they are invoiced.

 

  1. Keep Detailed Records

A frequent mistake attorneys make is processing regular bills that are basic. The bills they give clients don’t have a description of each service, the time it took to complete the service, and additional charges if any. By giving the client more details within the bill the attorney can supply a sense of risk management.

 

  1. Get Paid A Retainer Upfront

The very best way to get compensated is by holding retainer fees. However, when an attorney deposits these funds in a trust account or business account, then it’s best practices to prohibit to the spending of the funds until it is earned during documented fees. Tracking every penny of retainer capital across dozens of instances can be a struggle, but it is possible if given the right tools.

 

  1. Incorrect Time Tracking

Attempting to recreate a schedule at the end of the week is hopeless and could definitely backfire. An attorney will wind up without planning to, deduct from their own hours losing money. This can be avoided by either imputing the information in the cloud or documenting it daily using a notepad.

 

27 Jul

5 Tips to Better Track Legal Expenses

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It’s important to track legal expenses effectively. Particularly if you are adhering to a Differentiated Case Tracking Program, you need to know what expenses are associated with individual cases. Legal billing software has the potential to save you a lot of time. When you combine the right software with other tips on tracking expenses, you can adhere to your budget more effectively.

 

List All Monthly Bills

You should list all monthly bills. These are the bills that come in each and every month. Often, the recurring bills are forgotten about, which leads to budgeting problems. You need to ensure you are accounting for all of the expenses that you have to deal with each month, not just the individual ones that occur within each case.

 

Some of the expenses to consider include phone, internet, rent, and various licenses that you need to maintain.

 

Save All Receipts

It’s important to save all receipts. Whether it’s from lunch, office supplies, a courier service, or any other expense associated with a case, you need to keep the receipt. When you use legal billing software, it will allow you to enter all receipts and code them as necessary. Good software will also allow you to choose the currency, ensuring that you have everything recorded as needed based on how you run your business.

 

Until you have the time to enter all of the receipts, maintain a bin or folder where you keep them. This will ensure that they don’t get tossed before you have a chance to register them.

 

Use Software

By investing in professional legal billing software, you can manage your legal practice more efficiently. You will have the ability to track all of your expenses and also create invoices based on what you need to bill back to the client.

 

It’s important to identify all of the different expenses that you will have. By doing so, you will be able to find a robust accounting solution to meet your needs. You should only have to use one software solution. If you have to use multiple programs to track your expenses and handle billing, it will take longer for you to know what you’re spending money on and what the true financial health of your practice is. Additionally, you want to find software that takes accounting law into consideration so you have more features available to you.

 

Create Codes per Case

Good law firm billing software will allow you to create codes. This will allow you to identify the expenses that you incur for each case. Should you bill directly back to the client, you will have reports that show what the expenses are so that there are no questions.

 

An ABA litigation code set might be included in law firm billing software as well. it will allow you to identify tasks and costs of litigation and also reconcile your accounts without having to use a second application.

 

Review Reports

When you use good legal billing software, it will provide you with extensive reports. If you want to track your expenses, it’s important to review the reports periodically. It will show you a variety of details:

  • Total expenses
  • Expenses per case
  • Recurring expenses

 

As you review the reports, you might see trends where you are spending too much money. The information on the reports will help to keep you educated about your spending to ensure you can make changes and stay within budget.

 

When you can better track legal expenses, it will help you to be more aware of your finances. You can then bill to the individual clients and understand more about where your money goes each month.

 

26 Jul

9 Tips for Keeping Legal Fees Under Control

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Payment Plan

There are several tips that a person can use in order to keep their legal fees under control. The first tip is to find a lawyer who is willing to use a payment plan that you will be able to pay over time. This means that you will be able to pay so much each month before you can pay off your bill. You might also want to do some research and look for a lawyer who has a billing rate that is a little more manageable than some of the other lawyers based on the mac productivity.

 

Detailed bill

The second tip is to make sure that you ask for a bill that is detailed every month in case of loans. This bill should describe all of the services that were rendered and the disbursements that were paid. It is important to tell the lawyer that you want this bill regardless of whether or not you are actually going to need it. You might not want a bill if your retainer has not been used up yet but you never know when it is needed.

 

An estimate

The third tip is to ask for an estimate on the disbursements before you meet with the lawyer. Sure you are not going to want to know about everything like how much postage cost when you are being billed, but the lawyer should tell you about the messenger services and stenographers. The messenger services are going to cost about $50.00 each time and the stenographers that are used for deposition and trial transcripts are going to cost a person thousands of dollars to use the legal billing software.

 

A record

The fourth tip is to make sure that you are keeping a record of all of the times that you have talked with your attorney. This could be over the phone or in person. This is so that once you get a bill from the attorney, you can check the bill against your own records. This is because sometimes the attorney who uses the law firm billing software might charge you for something that you did not think you were getting charged for.

Ask about charges

The fifth tip is to ask the attorney if you are going to be charged for a certain amount of phone calls and how much that charge is going to be. Most lawyers are going to charge the minimum of 15 minutes. This is because they feel that this is the appropriate amount of time it will take to actually get all of the information that is needed to work on your case. But there are some other attorneys that will charge for five minutes of their time. If there is a 15-minute minimum, then you are going to want to wait for all of your questions about the legal billing software for the longer conversation instead of the shorter ones.

 

Ask questions

The sixth tip is to find out if the attorney with the lowest billing rate can work on your case if you are using a firm that has several different attorneys working for it. This means that you will need to make it clear that you only want the attorney doing certain work for you. Most of the time, this is going to be the actual trial or negotiations during the trial through law firm billing software.

Double Services

The seventh tip should be done before you sign the retainer with the attorney who uses legal billing software. You will need to find out how the double services will be billed if there are going to be several attorneys working on your case. Therefore, you want to know if you are going to be billed at the attorney’s hourly rate or only billed through the attorney who has the higher rate. It is very important that your attorney that you are using for your case has an advanced diploma in legal project management.

Photocopying

The eighth tip is to find out if you are going to be billed for photocopying the work fine on the law firm billing software. If this is the case, you should find out if it is okay if you do the photocopying yourself. Most of the time, the firm is going to charge you about twenty-five cents a page. If you have enough time, you can do it for about four cents a page of the law firm billing software that is used most of the time.

25 Jul

5 Better Ways to Structure Legal Fees

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Why It Is Important

It is extremely important to properly structure your legal fees to avoid preventable issues, such as perjury. That is common since it is so easy to make a mistake when recording legal fees. There are variety of ways in which these legal fee plans can be structured and there are benefits to each of them. Continue reading in order to determine for yourself which one is best for your particular situation. Consultation fees are a common way to deal with it in which the attorney charges an upfront cost. In personal injury lawyers, they often use contingency fees which means that you get a percentage of what the client is rewarded. There are also flat fees and of course, hourly rates. Hourly rates is most common type of of legal fee structure. All of this can get confusing, especially because you might have to deal with several client who are all using a different plan. Another reason it is so important to properly structure your legal fees is to keep everything in order. Every lawyer hates dealing with time recordings and transferring all that information to whatever structure their client is requiring them to use. A LEGAL BILLING SOFTWARE could help with this.

 

The Solution To Structuring Legal Fees

What exactly is a LEGAL BILLING SOFTWARE? It is a technology that has completely revolutionized the legal field because it makes it so much easier and more efficient to deal with organizing legal fees. This will help with your accounting Law and make things go more smoothly and quickly in regards to earning money. You will not have to worry that you made a mistake or recorded something incorrectly now that this software exists. It is the perfect solution. This is a great option for attorneys who want to save time and money and become more organized in their life and job. This type of software also works great for firms because it allow more than one attorney to use it at a time and they can all be under different rates and plan structures. That is why LEGAL BILLING SOFTWARE options are such an amazing choice for people who work in the legal industry.

 

The Ways To Structure Your Fees

There are several different ways you can structure your legal fees in order to get the best results in your job. Which one you choose will depend on what type of work you do, but there is an option for every field that will be fair for the attorney and the client. Some of these factor include the amount of time required for each project, your experience in law, and your reputation with working with other people. It is important to carefully evaluate all the different options before you choose something that will work for you. Here are the top five ways to structure your legal fees:

  • Charge a flat fee. This is usually the best option if the case is very straightforward and simple.
  • Charge an hourly rate. This is most common arraignment to have because some cases require vast amounts of work. Sometimes the hourly rates will depend on the time of work involved. These set ups usually benefit from a LAW FIRM BILLING SOFTWARE.
  • Charge a Retainer Fees. These fees are usually based on the attorney’s hourly rate and are a set fee. This is typically used in on call situations.
  • Charge a Statutory Fee. These fees are set by the court and are common in bankruptcy and probate cases.
  • Charge a consultation fee. This refers to the first hour meeting that you meet with the client. This will be used to determine if the lawyer is a good fit for you.

 

The Best Success

The greatest results usually occur when a LAW FIRM BILLING SOFTWARE is used. There are options that will be able to accommodate all the legal fee structures that were outlined above. They will not only save you money in the end, but they will also cut back on all that tedious work of penciling in your schedule and how long you spend doing what. That is the worst part of legal work and this software is a great way to skip that step entirely. It will keep you better organized and you no longer have to worry about making mistakes. All of these are part of the Fundamentals of Law Practice and will lead you toward greater success in the future.

 

24 Jul

11 Legal Billing Guidelines

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Lawyers are like everyone else that works for a living; they want to get paid for what they do. Many lawyers earn their money by being part of a law firm that represents a set group of clients. Other lawyers earn their money on a case by case basis. Then, there are lawyers who earn their income by working for a government agency. There are different ways for lawyers to make their cash and the following information will describe what they are.

 

Guidelines for the Different Billing Methods by Lawyers

There are four basic ways that lawyers use to earn their income. These methods include charging hourly rates, billing clients for a set fee, charging a contingency fee and acting as a retainer for a client. Many legal agencies and independent attorneys also use law firm billing software which will help them to automatically figure out how to charge a client for their services. Below is an explanation about how these services work.

 

Hourly Services

A firm or single attorney can charge their clients by the hour. The average cost to hire a lawyer on at an hourly rate is between $200 and $400 dollars. Some small-town attorneys will typically charge about $100 per hour, while a big city attorney (New York or Los Angeles) could charge as much as $800 – $1000 per hour. Attorneys that charge an hourly rate will only bill clients for the amount of hours they work on a case. Keep in mind that the fee that hourly attorney’s charge will also go toward paying their support staff which includes legal secretaries and paralegals.

Set Fee Rates

Some attorneys and lawyers will charge clients a set or flat free rate for their service. The rate will be established off the type of service that a lawyer provides. Flat fee rates usually reflect the hourly rate that it would take a lawyer to perform a specific legal action. In some cases, the rate could be cheaper and in other cases it could be higher than a flat fee rate. Law firm billing software can also be used by attorneys to help them to figure out the amount they would charge for any legal service.

 

Contingency Rates

Lawyers can also work on contingency for a client. This simply means that a lawyer will take a specific percentage of the monetary value of a case, if they win. Lawyers who work on contingency typically do not accept or deal with cases they cannot win. The percentage that they take is about 33%. However, they can charge lower or higher percentage rates.

 

Retainer Rates

Lawyers can also work on contingency for a client. In other words, they are given a routine payment to be available for a client when they need legal assistance. Legal billing software can be used to calculate this payment as well. Retainer fees help to ensure that an attorney or firm has a steady source of residual income.

Law Firm Software

There are different types of law firm software. Each of these applications are designed to help lawyers to accurately charge clients for services. They are also designed to keep track of a firm’s or attorney’s earnings over a period of time. Legal billing software can even be set up to automatically charge clients when a payment is due. There are plenty of software billing programs for attorneys. Some of these programs include:

 

  • FreshBooks
  • PracticePanther Legal Software
  • Zola Suite
  • AbacusLaw
  • CosmoLex

 

Each of these programs can be set up to help lawyers to focus on serving their clients as opposed to wasting a lot of their time dealing with billing issues. Most law firms use automated software programs to keep track of client billing. This is especially true for large firms and attorneys who have a large list of clients.

Advanced Diploma in Legal Project Management is a field of education major for attorneys. This course can be completed at colleges such as the University of Georgia or Cornell Law School. They not only train lawyers within these great institutions of learning, they also help a person to become a paralegal as well. Lawyers who are educated within a law school will also gain knowledge about legal billing guidelines and law firm billing software. This way they can effectively charge their clients and keep track of their earnings throughout the course of their careers.

 

23 Jul

3 Ways to Increase Transparency in Legal Billing

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What’s One Finance Issue Your Clients Are Afraid Of?

A main reason why people might not enjoy working with attorneys is that they are afraid of being overcharged. Many have no idea of how exactly these charges are generated, and may feel cheated. Therefore, it is important for lawyers to come up with ways to make their billing process more transparent. If you understand how the total amount of money that you are charged was calculated, you will pay without any hitch.

The Problem

The problem comes when you cannot tell how the attorney reached to the total bill that you are charged. Many solo practitioners as well as firms get involved in fees disputes on a regular basis, especially if they don’t have a system that documents the time and expenses. Clients are usually blindsided when they receive a bill that they were not expecting. Most of them question the time entries, arguing that there is some form of exaggeration. Others will demand a discount, saying they will be regular customers. A lawyer should come up with ways to increase the transparency of the billing process in order to avoid these issues.

The following are ways in which lawyers can utilize to make billing process clearer.

  1. Use a Legal Billing Software

This is the best way to increase transparency when it comes to legal billing. A legal billing software is an application that makes it easy for lawyers to track and record the time they have spent working for specific clients. The software allows for precise time capturing via any computing device eliminating the need to worry about being at the office physically to carry out the task. Thus, there will be minimal errors when it comes to entries in the billing process. For big firms, there is Law Firm Billing Software that work the same as the aforementioned. The use of the two application has many benefits to the firm. They include:

  • Reduce pressure on bills

The software captures time contemporaneously. Therefore, it reduces the need for the lawyers to spend a lot of time reconstructing the activities of the day related to a particular case. Thus, there will be less or no errors such as over or double billing arising from inaccurate time entries. The software smoothens the process of billing, thereby reducing the pressure that comes with creating the invoice on the last minute.

  • Encourages ethical conduct

Using Legal Billing Software encourages ethical conduct. Lawyers are known to have higher betting rates as compared to other professionals. The main concern clients have is avoiding high legal charges. Attorneys have the responsibility to make the billing clear and understandable to clients. This will reduce the number of disputes that arises when it comes to legal charges. A Law Firm Billing Software that is cloud-based provide transparency and allow task based detailed explanations that is forwarded to the client to eliminate the feeling that they are being overcharged. The software monitors time entries and at the same time eliminate irregularities that may cause disputes. The software can present the charges in any currency, meaning it can be used in different parts of the world.

  • Improve law firm revenues

The firm will attract many clients due to increased transparency that comes with using technology in the billing process. There will be less errors in the financial transaction, thus no money will be lost. The firm will grow due to increased revenue.

  1. Clear Policies

It is important for an attorney to help clients understand the policies of the law firm around everything. This include how late payments is handled and all processes of legal billing. This will help build trust and the client will not have any complaint when presented with the bill. There will be no disputes and you will attract more customers either from referrals or return clients. The transparency will be on its highest point.

  1. Announce Changes

If you plan to make changes regarding how you will handle a particular task, notify your client beforehand. The majority of the people do not like surprises. Any small change may not go well with them. Letting them know in advance will make them feel comfortable and believe that you have their best interest.

 

One of the essentials for the law office is to have transparency, especially in the billing process. Attorneys are required to charge clients as per the numbers of hours they have spent working on their cases. For better results, a paralegal should be hired to be dealing with legal billing. A firm that is transparent attracts many more customers.

 

22 Jul

5 Tips for Creating Better Invoices

LAW-FIRM-BILLING-SOFTWARE-20

Harvard Law School case management makes skillful use of legal billing software. Even the Director of State Courts entrusts billing software to send invoices securely. Law firm billing software is also relied upon for research management and citation at Yale.

 

Automation is Key

As an entrepreneur today, nearly anything that can be automated should be. Having a system that helps you stay on top of your cash flow is essential as a business owner. It can be critical to send your invoices in a timely manner, this ensures you get paid on time and business continues as usual. Your most regular clients should have their own invoice template ready to be sent.

Law firm billing software can help you:

  • Keep track of who has paid and who has not through notifications
  • Make sure you’re sending the invoice to the correct recipient each time
  • Send the correct number of invoices

 

Some invoicing mistakes are sending too many invoices and sending it to the wrong person. Legal billing software helps guarantee that this mistake will not be made. If you’re consistently receiving late payments from a particular client, reach out to them and see if roles at the company have changed. In some cases, you’ll need to forward your invoice to a newly positioned individual. Try to whittle your invoice down to one person if possible. When an invoice is sent to more than one person, it may be assumed that the other individual will take care of it and it’s left on the back burner.

 

Confirm Invoice with a Written Quote

To help ensure that your client expects your invoice and is satisfied with it, use a written quote. For example, agreements made by phone should have a follow-up email sent.

This confirms the verbal agreement and makes it easy to understand what is to be expected. Do your due diligence and make sure you’ve made it as simple as possible to understand your agreement

 

Set Appropriate Payment Terms

Create short payment terms to increase the likelihood of getting paid on time. Set up 30 day payment terms and you may be surprised to find that many clients will pay you sooner. In some cases you may have to accept longer payment terms such as net 45 or net 60. Find the best payment terms that will work for you and your client.

Keep in mind that on average, most debtors are two weeks late in their payments. If it is absolutely critical for you to receive payment in 30 days, reduce your payment terms to get paid sooner. You could even add incentives for early payment and late charges to your terms.

 

Use Polished and Polite Words

There are times when invoices do not get paid simply because they do not provide clear instructions. Instead of paying for the invoice right away, the client may tend to lower the invoice as a priority. Be sure that the wording on your invoice is clear, concise, and very polite. Invoices that are readily understood get paid faster. Make it simple to understand what your clients are being billed for.

Using professional law firm billing software will help you use appropriate wording. Write out the full name of your product or service instead of using internal information such as a SKU. Make sure your logo is on your invoice so your company can be easily recognized. Your company’s logo on your documentation is a mark of professionalism. Legal billing software can help you add this touch of respectability.

 

Send Invoices Quickly

One reason why some business owners are paid late is because they are slow in sending out invoices. Use law firm billing software to send your invoices as soon as possible, giving your client ample time to review the invoice and pay you. When you’ve completed your end of the agreement, it is time to send the invoice.

If you complete the work on a Tuesday, why wait until Thursday to send an invoice? This is wasted time and contributes to you not getting paid on time. Help your clients pay you on time by staying fresh on their mind and not waiting long periods to send an invoice. If you complete the work sooner than expected, send the invoice sooner than expected.

 

22 Jul

5 Tips for Creating Better Invoices

LAW-FIRM-BILLING-SOFTWARE-20

Harvard Law School case management makes skillful use of legal billing software. Even the Director of State Courts entrusts billing software to send invoices securely. Law firm billing software is also relied upon for research management and citation at Yale.

 

Automation is Key

As an entrepreneur today, nearly anything that can be automated should be. Having a system that helps you stay on top of your cash flow is essential as a business owner. It can be critical to send your invoices in a timely manner, this ensures you get paid on time and business continues as usual. Your most regular clients should have their own invoice template ready to be sent.

Law firm billing software can help you:

  • Keep track of who has paid and who has not through notifications
  • Make sure you’re sending the invoice to the correct recipient each time
  • Send the correct number of invoices

 

Some invoicing mistakes are sending too many invoices and sending it to the wrong person. Legal billing software helps guarantee that this mistake will not be made. If you’re consistently receiving late payments from a particular client, reach out to them and see if roles at the company have changed. In some cases, you’ll need to forward your invoice to a newly positioned individual. Try to whittle your invoice down to one person if possible. When an invoice is sent to more than one person, it may be assumed that the other individual will take care of it and it’s left on the back burner.

 

Confirm Invoice with a Written Quote

To help ensure that your client expects your invoice and is satisfied with it, use a written quote. For example, agreements made by phone should have a follow-up email sent.

This confirms the verbal agreement and makes it easy to understand what is to be expected. Do your due diligence and make sure you’ve made it as simple as possible to understand your agreement

 

Set Appropriate Payment Terms

Create short payment terms to increase the likelihood of getting paid on time. Set up 30 day payment terms and you may be surprised to find that many clients will pay you sooner. In some cases you may have to accept longer payment terms such as net 45 or net 60. Find the best payment terms that will work for you and your client.

Keep in mind that on average, most debtors are two weeks late in their payments. If it is absolutely critical for you to receive payment in 30 days, reduce your payment terms to get paid sooner. You could even add incentives for early payment and late charges to your terms.

 

Use Polished and Polite Words

There are times when invoices do not get paid simply because they do not provide clear instructions. Instead of paying for the invoice right away, the client may tend to lower the invoice as a priority. Be sure that the wording on your invoice is clear, concise, and very polite. Invoices that are readily understood get paid faster. Make it simple to understand what your clients are being billed for.

Using professional law firm billing software will help you use appropriate wording. Write out the full name of your product or service instead of using internal information such as a SKU. Make sure your logo is on your invoice so your company can be easily recognized. Your company’s logo on your documentation is a mark of professionalism. Legal billing software can help you add this touch of respectability.

 

Send Invoices Quickly

One reason why some business owners are paid late is because they are slow in sending out invoices. Use law firm billing software to send your invoices as soon as possible, giving your client ample time to review the invoice and pay you. When you’ve completed your end of the agreement, it is time to send the invoice.

If you complete the work on a Tuesday, why wait until Thursday to send an invoice? This is wasted time and contributes to you not getting paid on time. Help your clients pay you on time by staying fresh on their mind and not waiting long periods to send an invoice. If you complete the work sooner than expected, send the invoice sooner than expected.