From matter set up to receiving payment on an invoice. This is known as the billing workflow. This article is meant to walk you through this process so that you can easily get your first bills out quick and easy!
1. Set up your matter - HERE are the steps to adding your matter. For billing, special focus should be on the billing method, rate level, and if needed, the localized billing rate. We also have settings for eBilling here if that is needed for this matter. If this is a Fixed Fee or contingency matter, the fee needs to be entered in this matter window.
2. Start to enter Time - For hourly matters, you will need to make your time card entries to start accumulating an unbilled balance for your client. Note for Fixed Fee and Contingency matters, you can still enter time cards for internal tracking purposes. These cards are marked as Unbillable and will not display on the invoice. Click HERE for steps to enter time.
3. Enter Expenses - For all matter types, tracking expenses is essential, as you likely need to be reimbursed. You will notice two types of expenses: Soft Costs and Hard Costs. Follow the linked instructions for help with each.
4. Pre-Bill Review - Though all invoices can be edited once generated. Many firms like to have a "pre-bill" or summary of items to be billed which can then be used for reviews/updates. We have a report which can do just that. Steps to generate are HERE
5. Generate Invoices - Once you have your time and expenses entered for the month/billing period and are ready to invoice, you have the option to do so in bulk or one at a time. The steps for that are provided
7. Invoice Payment - There are a few different ways to apply the payment to an invoice:
- Cash/Check from client
- Client Credit Card - in-house and online
- Existing Operating Retainer
- Existing Trust Retainer
Instructions can be found HERE
8. Collections - As much as we would love all invoice payment to come in on time, unfortunately, that is not always the case. For that, we have an Invoice Reminder function in which you can utilize to notify your clients of overdue invoices.
That is the entire billing cycle from start to finish. Need further assistance on billing? You can read our other articles and videos on our support page, or attend our free, dedicated billing Training Class