Until now, Kate Sandberg handled most of her cases on a flat fee or contingency fee basis. Her firm seldom billed clients on an hourly basis. However, she has now been retained by a new client, Electro Tech, Inc to provide advice and representation in various corporate matters. She has agreed to bill them at agreed hourly rates, in addition to costs incurred in representing them. Her two

Question

associates and one paralegal are all to be billed at different rates. What software tool can Kate use to manage the billing to Electro Tech, and possibly other similar clients? How will this software provide this solution?

What will be an ideal response?

Answer 1

A specialty program such as Abacus Accounting can be used to manage all of the time spent on each matter by every member of the firm. Present input screens enable each person to make time entries at their workstation. Expenses that are incurred can be entered as well. All of the inputs from multiple users can be collected in single matter for a client. The program automatically calculates the fees incurred on each matter based on the rates set for each person. All of the fees and expenses incurred on a matter can be compiled into a monthly bill that is sent to the client. The software can also print checks in accounts payable to pay individual vendors on a matter.