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 get your first bills out quick and easy!
Billing Workflow Steps
1. Set up your matter – First, start by 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 enter 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 time-tracking purposes. Those internal time entries are marked as Non-billable 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. First, you’ll want to understand the difference in order to track appropriately. Then, you can start entering your Soft Costs and Hard Costs.
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. Learn how to generate the pre-bill report.
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. Click here to learn how to generate invoices.
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
Learn how to apply payments to invoices.
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.