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May 20, 2024 · Discover expert tips for billable hours, like effective billing practices, how to cut non-billable hours, and using time tracking software.
Learn about billable hours, how they help lawyers maintain compliance, simplify invoicing, improve accuracy, and enhance attorney performance.
- The Billable Hour – What Is It?
- The Real Expectation For Billable Hours
- What Flexibility Does The Law Firm offer?
- An 8-Hour Day Does Not Equate to 8 Hours of Billable Time
- The Method to Insure Associates Are on Track
- An Associate Attorney Should Not “Cut” Their Own Time
- How to Ethically Record Time
- How to Bill Time Appropriately
- More Detail Is Better Than Less Detail
- Check Whether The Firm and Client Allow For Block Billing
The billable hour is the mechanism law firms and a few other organizations use to bill their clients for the work an attorney (or another employee) has completed. Most law firms have a yearly billable hour goal for their associates. While it may be a bit confusing, it is essential to mention that the “yearly” requirement might not reflect the calen...
When an associate receives an offer letter from a law firm, that offer letter usually details the law firm’s expectations for the associate, including the yearly billable hour expectations. Exceeding the yearly billable hour expectations is often tied to bonus compensation. For example, if an associate attorney bills 100 hours more than the billabl...
A first-year associate should know what flexibility the law firm offers. Typically, most first-year associates do not hit their billable hour expectations. There are many good reasons a first-year associate may miss their billable hour requirement. For example, a first-year associate is still learning to capture their time, may be inadvertently cut...
One of the best examples to explain this concept of billable hours comes from an example prepared by Yale Law School. As the example shows, there is a significant difference between being “at work” and the total hours billed. Taking an hour-long lunch, taking various breaks throughout the day, and working on non-billable tasks such as administrativ...
Equally important for a first-year associate to know is how the firm ensures that associates are on track with their billable hour expectations. Again, this can vary widely among firms. This might even vary within a law firm based on different practice groups. For example, some firms require associates to reach monthly billable hour expectations (y...
While firm policies may vary, most associates – and certainly first-year associates – should avoid cutting their own billable time. What do we mean by not cutting their own time? When an associate keeps track of how long a task or project takes them to complete, they may feel internal pressure to make it seem like a task took them less time than it...
While most firms recommend that associate attorneys do not cut their own time and bill the time it took the associate to complete the task or assignment, unethical billing is strictly prohibited. Is it ethical for an associate attorney to claim that they performed work on a project in their billable hour submissions if the associate attorney did no...
This, again, will vary as law firms have different policies and requirements. This also might vary by client within a firm. For example, some clients will not pay for inter-office discussions about a matter. This commonly refers to the time a partner and a first-year associate take to internally discuss the client matter. However, even if the clien...
As a first-year associate attorney, you might be asked to review a set of documents associated with a transaction. This is often known as due diligence review or document review. The more detail you add, the easier preparing bills for clients will be for the partners. Additionally, more detail means the client can understand the value you and the f...
Many clients allow for block billing because certain tasks are inherently linked. However, that is not true across the board. What is block billing? It is billing for more than one discreet task at a time. For example, “research Michigan law related to professional attorney ethics of block billing and prepare a memorandum about the same” is technic...
Dec 12, 2022 · Learn what billable hours are, what types of tasks they include, how to increase your billable hours, how to record them and jobs that use billable hours.
Jan 21, 2021 · Billable hours are the number of hours spent on tasks connected to a project. These hours will be used to determine how you charge your clients. From legal professionals and agencies to freelancers and entrepreneurs, several firms and professionals use billable hours to keep track of their projects.
Mar 7, 2024 · For firms with fewer attorneys, meeting small law firm billable hours are even more critical. In this brief article, you will learn about a billable hour, how law firms track time and bill their clients, and the impact of billable hours on lawyers and clients.
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related to: Billable Hours ReviewsWe designed OnPay® to be the most flexible and complete payroll service in the cloud. We built the best payroll by combining 30 years of experience with the latest technology.
Boost Your Firm’s Billable Hours With Smart Time Finder. Start A Free Trial Today! Monitor Your Flat Fee And Pro Bono Cases By Tracking Non-Billable Time With MyCase.
