You work long hours and you’re always on the go. But you don’t have time to manage your billable hours. That’s tracking billable hours comes in! To help you track law firm billing, here are some things you should know.
What is Billable Hours
Billable hours is the term used to describe the hours a person is allowed to work for a specific client. This varies depending on the law firm, but most billable hours will fall into one of five categories: legal research, planning and working on cases, writing pleadings and briefs, clerical work, or meeting with clients.
The first step in getting started tracking law firm billing is to understand what this term actually means. Billable hours can be defined as the number of hours you are allowed to work for a specific client without earning any income.
Setting up a system to track your billable hours will allow you to track how much time you are spending on each task and ensure that you are meeting your deadlines. Once you have set up your system, it is important to keep it updated so that you can see how your plan has been running and make changes as needed.
There are several ways that you can start tracking your billable hours for your law firm:
- Use an online dashboard or manager software. These platforms allow users to enter their days worked and view data including when they were available and how much money they were making. They also offer helpful tools such as real-time payments tracker and invoicing tool that help you stay organized and budget aware while working on your case load.
- Use an app which allows users to enter their days worked directly into their apps without having to go through a website or manager software.
- Use a lobby card system which not only tracks the amount of time spent in each office but also provides detailed alerts if any Courthouse Events are scheduled during those same weeks (such as large trials).
- Configure email alerting for events so that all employees receive an email notification about the impending court appearances even if they are not currently working on a case(s).
Using billable hours tracking can help you improve the efficiency of your law firm. By managing your time and working with billing software, you can reduce the amount of time you spend on tasks and increase the quality of your work.