Is a contingent fee tracked as Accounts Receivable?

CosmoLex Team

Law firms track accounts receivable (A/R), the amounts that clients owe a law firm for services rendered, by generating an invoice showing the amount due during a given time period. When a law firm, however, agrees to accept a contingent fee as compensation for services rendered, the client doesn’t owe anything to the firm until the attorneys secure a recovery … Read More

Is a flat fee tracked as Accounts Receivable?

CosmoLex Team

Law firms track accounts receivable (A/R), the amounts that clients owe a law firm for services rendered, by generating an invoice showing the amount due during a given time period. When a law firm agrees to accept a flat fee for services to be provided, however, the client either pays the fee immediately, or the firm generates an invoice for … Read More