Sentences with phrase «unbilled time»

"Unbilled time" refers to the amount of time spent on work or services that has not been officially recorded or charged for yet. Full definition
It has been my experience that those firms with a high proportion of «higher risk» clients have larger inventories of unbilled time and aged receivables, and more fee disputes as many marginal quality clients seek to reduce or avoid paying their bills for fees and expenses.
The lawsuit alleged the firm falsely and intentionally represented it had incurred more unbilled time than it did, modified illegitimate time entries and submitted false claims for legal fees and disbursements it was not entitled to.
What unbilled time is sitting out there that we haven't converted to invoices?
Are there funds in trust that can be applied against unbilled time or disbursements?
Slated for later this quarter is a feature that will capture unbilled time.
For the most part they seemed to be paying consistently as long as the invoices were getting mailed out monthly, without big surprises like large amounts of previously unbilled time now showing up on an invoice.
For another, showing a large proportion of unbilled time on one's time sheets often is taken as evidence, fairly or not, that one is either is not in demand as a participant in or is not aggressive enough in seeking out billable work.
This includes unbilled time expense cards, unpaid invoices, overdue invoices, unbilled tasks, unbilled events, and unbilled notes.
Today, the LexisNexis Firm Manager team unveiled the LexisNexis Money Finder feature an automatic and simple tool that helps attorneys discover unbilled time.
BETTER MANAGEMENT OF BILLING, RECEIVABLES AND PAYABLES Delays in getting bills out and following up on slow - paying clients invariably lead to unnecessary write - offs and write - downs of unbilled time and receivables.
Time and Materials invoices can also be prepared, and Work - in - Progress management capability allows users to track all unbilled time, as well as bill clients and customers by date range if desired.
You can also generate invoices in bulk for all matters that have unbilled time.
If the firm has a cash flow problem because clients have not paid their bills in a timely manner, the managing partner should consider providing incentives to delinquent clients, such as a one - time 25 percent discount credit for cleaning - up accounts receivable and unbilled time that are more than 180 days old.
Easily review billed and unbilled time, accounts receivable (what clients owe you), attorney productivity, receipt allocation (rules that determine what each attorney has earned), your top clients, and more.
Examples: Aged debtor updates, missing or incomplete data, month end notification, money laundering ID checks, unbilled time, KPI overruns.
In this manner, the partners are made to realize that since working capital is required to carry unbilled time, less unbilled time will result in fewer demands on the firm for cash.
Efficient and effective management involves overseeing such matters as the day - to - day activities of the accounting staff; advising on the firm's capital requirements, and annual budget and fee policies; assessing the results against the budget; developing fee policies for various practice areas; determining controls over billing performance including profitability; unbilled time and costs, receivables, delinquencies and write - offs.
Default widgets on the matter page include Matter Details, Matter Activity, Matter Tasks, Notes, Associated Contacts, Client Portal, Tools, Add Time Entry, Unbilled Time & Expenses, and Financial Summary.
So what are lawyers doing with that unbilled time?
Within each Matter, the Invoices tab displays the balance for the Matter to know how much client owes for billed and unbilled time and expenses.
A typical structure has the seller retaining all of the AR (Accounts Receivable), WIP (unbilled time) and Liabilities as of a specified cut - off date.
Analyze firm write - offs and write - downs of both unbilled time and outstanding receivables by billing attorney.
Using MyCase's streamlined legal billing features, with the click of a button all unbilled time and expense entries, including flat fee balances, are pulled into a legal invoice.
Provide incentives to clients to pay dated bills, e.g., a one - time 25 - percent discount credit for cleaning up of accounts receivable and unbilled time more than 180 days old.
Mike Kelleher, Partner, Folger Levin & Kahn, «We were delighted to invest some unbilled time in pulling together this wiki - based White Paper on legal considerations in Web 2.0.
If there was a lot of unbilled time, I will occasionally increase their annual bill for tax prep, particularly if the amount of support they require throughout the year seems to be a trend.
The following year at tax time, before I prepare the client's bill, I will run a report of this type of unbilled time.
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