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Set Up a Matter-Specific Billing Rate

Introduction

When working with Hourly matters, CosmoLex will automatically use each Timekeeper’s default rates when calculating the value of time entered. However, there may be times a matter is different, or even unique, and you may you want to change the billing rate for your matter to something other than the default Timekeeper billing rates.

Set Default Rate Level

When setting your Timekeeper rates, you can also set rate levels. Learn more about rate levels and how to set them up.

When you add or edit a matter, you’ll have the ability to set a default rate level for a matter. This way, any timekeeper who enters time for that matter will automatically default to their rate that matches that rate level.

For example, if you’ve set a discounted rate level for Friends & Family, you can set that rate level for a particular matter. This way, anyone who enters time will automatically default to their own discounted rate. 

How to Set Up

1. From the Matters Tab, select your desired matter and click Edit. You can also do this while adding a matter.

2. In the Edit Matter window, scroll down and click Advanced Settings

3. In Advanced Settings, under the Billing Info tab, choose the desired rate level from the drop-down list.

4. Click Save

All set! Now, when creating a new time card for that matter, each timekeeper will automatically see the corresponding rate to that rate level.

Set Localized Billing Rate

While you are allowed to add up to eight default rates for each timekeeper, sometimes there are unique situations in which you want to create a rate specific to that matter only. These unique rates are called localized billing rates.

How to Set Up

1. From the Matters Tab, select your desired matter and click Edit. You can also do this while adding a matter.
 
 
2. In the Edit Matter window, scroll down and click Advanced Settings
 
 
3. In Advanced Settings, under the Billing Info tab, check Localized Billing Rate and click Rate
 
 
4. In the Localized Rates window, select the type of rate you wish to apply to the matter. Here are the the two types:
  • Fix Rate for All Timekeepers – This will apply the same custom rates to all Timekeepers on this matter. With this option is selected, you are provided one field to enter your custom fix rate.
  • Select Rate – With this option, you assign a custom rate per timekeeper. With this option, you’ll have to add as many timekeepers as you’d like, and enter the unique custom rate for this matter. Any timekeepers you don’t add to this option, will default to the matter’s rate level.

5. When this screen is completed, click Save.

Learn More

Add and Manage Timekeepers

Add and Manage Matters

Billing Methods in CosmoLex

Updated on October 8, 2018

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