This document is an explanation of the firm billing policies to be sent to the firm's clients. It states the hourly rates for senior attorneys, associates and paralegals. It also explains the services for which the client will be charged, the costs of hiring outside contractors (court reporters, process servers, etc.), payment of the firm invoices, and al other matters related to billing.
Queens New York Firm Billing Policies
Category:
State:
Multi-State
County:
Queens
Control #:
US-L03045C
Format:
Word;
PDF;
Rich Text
Instant download
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FAQ
Calculating billable hours is straightforward: you take how much you've worked and multiply it by your hourly rate.
Billable hours are those hours worked that require compensation. In other words, they are the hours that you bill clients for and they pay directly.
Billable hours are the amount of time spent working on business projects that can be charged to a client according to an agreed upon hourly rate. Businesses, agencies, entrepreneurs and freelancers all frequently use billable hours to charge clients for the services they provide.
Assuming the billable hours are on the up and up, a 2400 hour/year biller is routinely working on client matters well past the dinner hour. In fact more than routine, as an absolute necessity a 2400 hour biller is working on legal issues every night after he has already worked eight full hours.
Billing practices a system that is well documented; and easy to audit, including third party private parties, overdue, and write-offs.
The five management styles used in most law firms are autocratic, democratic, managing partner, committee, and combination (p. 5).
For the most part, lawyers charge for their time based on an hourly rate. So, they take the amount of time it takes for them to complete a task on your matter and then multiply it by the hourly rate.
There are three basic ways that lawyers and paralegals calculate their fees. They can charge a set hourly rate for the time they spend working on your file, a flat fee for a specific service, or a contingency fee, which is based on a percentage of the outcome of the case.
Clio, The Legal Billing Software That Gets You Paid Faster. Bill your clients in a way that's easy for themand effective for you. Our legal billing software includes easy time tracking, expense tracking, LEDES billing, alternative fee options, payment plans, credit card processing, and more.
Billing in the legal industry is typically done hourly but here are a few other common billing methods attorneys may use: Hourly Fees. Most legal practice areas work on the hourly fee.Contingency Fees.Flat Fees.Statutory Fee.