Set Up Recurring Billing for a Fixed Fee Matter

If you allow a client to pay their matter’s fixed fee in installments, CosmoLex offers two setup options for this recurring billing arrangement:

• Add flat fee timecards to an hourly matter
• Bill as a recurring fixed fee 

Add Flat Fee Timecards to an Hourly Matter

To add flat fee timecards to an hourly matter:

1. Create an hourly matter.
2. Create a flat fee timecard for each month of the installment period.
   Note

   You can create all timecards at once, or as each month comes due.

3. Generate an invoice for each timecard. 

The timecards will display in your matter’s time/activity reporting.

Bill as a Recurring Fixed Fee

If, for reporting purposes, you prefer to keep your matter as Fixed Fee, then you can bill your fixed fee matters in multiple instances.

The following example assumes a $5,000 fee billed at $1,000 a month.

1. Create a fixed fee matter for the full amount ($5,000).
2. Start generating an invoice.
3. In the Add Invoice screen, change the fixed fee amount to the monthly installment amount ($1,000). The bill will reflect this amount. You can use the invoice description box (within Advanced Settings section) to reference the original fee or remaining balance on that fee. 
4. If you choose to create all installments at once, change the Invoice Due Date to the appropriate due date for that month’s installment.

   For example, if payments begin in October and continue until February, be sure the invoice for each month has the correct due date, such as 15 or 30 days after invoice date. This will make collection easier when checking the client’s payment status.