billing best practices- how to make billing a breeze and collect more money

Billing Best Practices—

How to Make Billing a Breeze and

Collect More Money

888-432-1529 www.rocketmatter.comwww.rocketmatter.com www.lexcharge.com

888-432-1529 www.rocketmatter.com

Establishing better billing

practices is key to growth and

profitability!

www.rocketmatter.com www.lexcharge.com


Billing Best Practices



Step 1: Set up your invoice

templates


Step 2: Enable invoice sharing for

your clients



Step 3: Set up and apply taxes,

surcharges, and convenience fees

if necessary



Step 4: Capture time automatically

with

Bill-As-You-Work technology



Step 5: Schedule a cutoff period for

billing



Step 6: Set up

your automated

payment emails



Step 7: Run

your pre-bills


Step 8: Run batch-billing


Step 9: Set up recurring billing or

payment plans for AFA’s or clients

that are behind.



Collections

Best

Practices



Rules for collections start with your

initial agreement!



Set a date that invoices are “Past

Due” and consider using interest

and discounts to incentivize

payment



Designate milestones to call customers

regarding outstanding invoices

• Two days before “due date”

• One week past due

• Two weeks past due



Consider hiring a Billing and

Collections Specialist

• Full Time Client Service Specialist

• Virtual Assistant

• Part-time Billing Assistant



If you only take paper checks, what

does that say about your firm?



Since 1974, The American Bar

Association has approved attorneys

accepting credit card payments for

their fees.



Increase Payment Options

For Your Clients to

Increase Your Collections!

•Credit Cards

•e-Checks



Payment Processing FAQs

What is the

process for

getting set up?




What is a base

rate?

What about

effective Rate?




How are processing fees collected?




How fast are

payments posted?



To surcharge,

or not to

surcharge?



Tips for choosing the right legal

payment processor

• Must understand the rules and regulations with

Trust and IOLTA accounts

• Must understand law firm’s workflow and how

payments will be taken

• Free Assessment & Personalized Service

• Understanding your base rate


www.rocketmatter.com

Technology Tools that Increase

Billable Time and Collections

www.lexcharge.com


Q & Awww.rocketmatter.com www.lexcharge.com

888-432-1529 www.rocketmatter.com866-710-1845

Sign up for a free trial, no

credit card required!


Want a free rate

analysis?Contact

[email protected]


Law Firm Payment Processing

mailto:[email protected]

Thank You!Adam Holden | [email protected]

Nefra MacDonald | [email protected]