"Billable time" refers to the hours or specific periods of work that can be invoiced to a client or customer. It represents the time spent on tasks or projects that will be paid for by someone else. It helps determine the amount of money that can be charged for the services provided.
Full definition
You can enter
billable time on the courthouse steps using your mobile phone or pull up a time - stamped order on your tablet while appearing in court.
I was particularly impressed by the depth of the financial data accessible through the app and by the capabilities it offers to
track billable time and expenses.
Most of all, narrative is wasteful: it consumes otherwise
billable time in an effort to connect with a reader whose reading experience is not really a priority.
One would think that this would mean that lawyers would be pressed to track as much
billable time as possible as easily as possible — especially in the last while.
Users can also view billing and trust account information and
add billable time and expenses.
For a $ 350 monthly investment — less than two billable hours for most attorneys — you can recoup 10 or more hours of
billable time per month.
If you want to get a job as a legal secretary then you will have to
log billable time attorneys and log them under different cases.
In speaking with all of you from day to day I am confident in saying that none of you are looking for
less billable time.
If the parties wish for the mediation to take place at some location other than the mediator's office, the mediator loses
billable time when he or she can't charge for travel.
Knowing that Firm Manager manages so much of a firm's matter activity, the team saw an opportunity to help its users avoid
leaving billable time on the table.
Nearly half of all firms surveyed also indicated an increased priority of investing in technology to assist in capturing
more billable time.
Working outside of the office, however, makes it easy to lose track
of billable time.
Track billable time and project costs quickly and easily to ensure fast, accurate client billing.
The new feature prompts users to complete certain tasks, such as add their first matter or
add billable time.
Moving a law office is not a quick or easy process and it always results in
lost billable time.
Chrometa helps firms capture more
billable time spent on email, online research, phone calls and more — automatically and without the need to use timers!
After you've entered
billable time using your law practice management software, the billed hours will automatically be associated with the correct matter, making it a simple task to create and edit an invoice.
Even if a law school has a clinical program to acquaint students with the procedures of the real legal system, there will almost certainly be no instruction in how to dictate a letter, how to delegate work to secretaries or paralegals, how to maintain a file, how to
record billable time, or any of the other practical office skills which go into practicing law.
But to a lot of people, the recent announcement by JP Morgan that they plan to replace 360,000 hours of
billable time with their new contract review software (COIN for Contract Intelligence) seemed to be a huge shock.
But as a group, it's the drive to action that's the biggest challenge, particularly if it cuts
into billable time or doesn't have an immediate or positive impact that's within sight.
With the move to Expert Time Management, the accuracy and efficiency of
billable time entry has increased.
How does an hour of business development time equate to an hour of solid
billable time for compensation purposes?
The same 2017 Report showed in its own reporting on lawyers» charges to clients that the prevailing approach consists in hourly fees: In each of the 9 charts reporting lawyers» charges to clients the 2017 Report described attorneys» charges for their services as «
Lawyers Billable time [my own italics]» (ditto for all 11 such charts contained in its 2018 successor report).
There's probably some of the Albany Political Consulting Class looking for off - season, off -
year billable time that's convincing him to pursue this.
«If we assume 200 workdays per year (there are more), and two hours per day and $ 200 hour billable value for an attorney (most are charging more today), the calculation is $ 80K of
wasted billable time annually.
So if you think about the eight hours of a workable day at the top of the funnel or 10 hours or 12 hours, whatever your workday happens to be, the next step down in that funnel is your utilization rate which is how
much billable time you're actually generating.
Small - firm lawyers and solos, by contrast, generally leave a much smaller footprint in the places where journalists search for ideas and leads, and few can afford to devote
otherwise billable time to engaging even the mainstream media, let alone the legal press.
By implementing a system that tracks
billable time easily; creates bills easily, quickly, and accurately, and allows the simple management of receivables.
The client usually pays an initial «retainer» — also known as an advance fee deposit — to cover a certain amount of
billable time up front (say $ 5,000 or $ 10,000).
We decided at the last partnership meeting (which you missed because you were in Dubai with the CEOs of XXXX) that you're not a good lawyer because you docketed only 10 hours of
billable time last year.
Data - driven outcomes can reduce firm costs, especially in the area of alternatives to traditional hourly fee structures.3 For example, one firm implemented BI tools to track partner and
other billable time to determine how price and human capital affect client billing.4
Formulas considering both origination and production must consider the particular structure of the law firm and the nature of its practice: For example, a law firm specializing primarily in insurance defense litigation and operating at a much lower hourly rate can readily afford the luxury of having highly compensated partners who merely originate business without having
significant billable time.
You may have to pay a small cancellation or reservation fee for each date, but this fee will be significantly less than your
own billable time that will be wasted if you can't find a mover last minute.
The ability to track time in MyCase and bill on the go using your mobile device means you'll never lose track of
billable time again!
Look for aberrations or time summaries that don't make sense or indicate poor time management or failure to meet
minimum billable time requirements.
According to internal LexisNexis data, solo and small firm attorneys, are missing out on up to 40 percent of their
actual billable time due to inefficient time tracking and billing practices.
You will probably realize more revenue from the money saved on office supplies and copying costs than on
new billable time.
Phrases with «billable time»