What’s the fastest way to bill our law firm clients?

CosmoLex Team

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Law Firm Billing Methods

Organized billing – a necessity for timely payments – requires being on top of a number of administrative tasks, which recur, month after month. It absorbs valuable hours, and law firms are always looking to cut down on the time it takes.

Track time as it occurs

You can’t bill what you haven’t tracked. Make sure you’re contemporaneously tracking tasks, billable and non-billable.[1] (The latter is helpful for assessing productivity.) Don’t waste time by having to go back and adjust invoices because you just realized you forgot to include something.

Use an integrated time tracker

Once you’re tracking tasks as they happen, the quickest way to turn your work hours into client invoices is to use a time tracker that’s integrated with your billing program, reducing administrative tasks and data entry.[2]

Integrated time tracking and billing isn’t just for when you’re in front of a computer. Many legal tools have apps for your phone, so you can track time on the go, too.

Use clear, descriptive billing

Integrated billing can also make it easier to produce appropriately detailed invoices that help your clients understand exactly what they’re being asked to pay. This clear communication eliminates guesswork on their end and makes for a more positive experience. Happy clients will be more inclined to pay on time and seek your services again in the future.

Batch billing and invoicing

Batch billing and invoicing can also expedite the billing process. “Batching” refers to issuing multiple client invoices at the same time.

If you’re billing at regular intervals – say, monthly or quarterly – or if you want to generate multiple invoices for different matters at once, this approach helps streamline your billing. With a few clicks, you can create multiple client invoices, instead of entering data for each one separately. In addition to saving time, this reduces the likelihood of an error (and time spent fixing it) because you aren’t entering details over and over.

Faster billing is tied to principles of efficiency. Reduce the number of tasks on your to-do list and spend your time on higher-value work.


References

1. How Do I: Efficiently Track Billable Hours
2. How Should My Law Firm Be Tracking Time?