This document is an explanation of the firm billing policies to be sent to the firm's clients. It states the hourly rates for senior attorneys, associates and paralegals. It also explains the services for which the client will be charged, the costs of hiring outside contractors (court reporters, process servers, etc.), payment of the firm invoices, and al other matters related to billing.
Firm Billing Policies
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State:
Multi-State
Control #:
US-L03045C
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Word;
PDF;
Rich Text
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FAQ
Time tracking apps are fast becoming the preferred choice for increasing productivity and tracking billable hours for law firms. Hubstaff's time tracking can help easily keep track of an individual's hours and billables as well as the projected budget of a large-scale project.
Create a (Verbal or Paper) Contract. Before you even begin working with a client, it's important to have a mutual agreement in place. Use a Template for Your Invoices. Simplify the Payment Process. Don't Hesitate to Send Out Invoices. Don't Be Too Shy to Follow Up. Being a Professional in Billing Clients.
The law firm billing process Billable time and disbursement fees/expenses are logged throughout the case. At the end of each month (or at the end of the case, if it's a shorter case), bills and expenses for each client and case are put into a draft bill. Attorneys add notes and adjust costs as needed and approve the
The stopwatch is a tried and true means to track time. Most modern legal software systems provide this time-tracking feature. For example, if a lawyer opens a case file, there's usually a digital stopwatch they can click to begin tracking the time spent on a task.
The Billable Hour Demon Therefore, often the substance of our work is minimized to billable hour maximization.This is because most law firms require their attorneys to bill their clients in six-minute (1/10 of an hour) standard billing increments.
Studies show that, on average, lawyers actually work three hours for every two billed. Therefore, to bill 2,200 hours per year, or 40 hours per week, a lawyer needs to work 12 hours a day, five days a week.
The law firm billing process Billable time and disbursement fees/expenses are logged throughout the case. At the end of each month (or at the end of the case, if it's a shorter case), bills and expenses for each client and case are put into a draft bill. Attorneys add notes and adjust costs as needed and approve the