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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.rocketmatt...
888-432-1529 www.rocketmatter.com
Billing Best Practices
www.rocketmatter.com www.lexcharge.com
888-432-1529 www.rocketmatter.comwww.rocketmatter.com www.lexcharge.com
Step 1: Set up your invoice
templates
888-432-1529 www.rocketmatter.com
Step 2: Enable invoice sharing for
your clients
www.rocketmatter.com www.lexcharge.com
888-432-1529 www.rocketmatter.com
Step 3: Set up and apply taxes,
surcharges, and convenience fees
if necessary
www.rocket...
888-432-1529 www.rocketmatter.com
Step 4: Capture time automatically
with
Bill-As-You-Work technology
www.rocketmatter.com...
888-432-1529 www.rocketmatter.com
Step 5: Schedule a cutoff period for
billing
www.rocketmatter.com www.lexcharge.com
888-432-1529 www.rocketmatter.com
Step 6: Set up
your automated
payment emails
www.rocketmatter.com www.lexcharge.com
888-432-1529 www.rocketmatter.com
Step 7: Run
your pre-bills
888-432-1529 www.rocketmatter.comwww.rocketmatter.com www.lexcharge.com
Step 8: Run batch-billing
888-432-1529 www.rocketmatter.com
Step 9: Set up recurring billing or
payment plans for AFA’s or clients
that are behind.
...
888-432-1529 www.rocketmatter.com
Collections
Best
Practices
www.rocketmatter.com www.lexcharge.com
888-432-1529 www.rocketmatter.com
Rules for collections start with your
initial agreement!
www.rocketmatter.com www.lexcha...
888-432-1529 www.rocketmatter.com
Set a date that invoices are “Past
Due” and consider using interest
and discounts to inc...
888-432-1529 www.rocketmatter.com
Designate milestones to call customers
regarding outstanding invoices
• Two days before ...
888-432-1529 www.rocketmatter.com
Consider hiring a Billing and
Collections Specialist
• Full Time Client Service Speciali...
888-432-1529 www.rocketmatter.com
If you only take paper checks, what
does that say about your firm?
www.rocketmatter.com ...
888-432-1529 www.rocketmatter.com
Since 1974, The American Bar
Association has approved attorneys
accepting credit card pa...
888-432-1529 www.rocketmatter.com
Increase Payment Options
For Your Clients to
Increase Your Collections!
•Credit Cards
•e...
888-432-1529 www.rocketmatter.com
Payment Processing FAQs
What is the
process for
getting set up?
www.rocketmatter.com www...
888-432-1529 www.rocketmatter.com
Payment Processing FAQs
What is a base
rate?
What about
effective Rate?
www.rocketmatter...
888-432-1529 www.rocketmatter.com
Payment Processing FAQs
How are processing fees collected?
www.rocketmatter.com www.lexc...
888-432-1529 www.rocketmatter.com
Payment Processing FAQs
How fast are
payments posted?
www.rocketmatter.com www.lexcharge...
888-432-1529 www.rocketmatter.com
To surcharge,
or not to
surcharge?
www.rocketmatter.com www.lexcharge.com
888-432-1529 www.rocketmatter.com
Tips for choosing the right legal
payment processor
• Must understand the rules and regu...
www.rocketmatter.com
Technology Tools that Increase
Billable Time and Collections
www.lexcharge.com
888-432-1529 www.rocketmatter.com
Q & A
www.rocketmatter.com www.lexcharge.com
888-432-1529 www.rocketmatter.com866-710-1845
Sign up for a free trial, no
credit card required!
888-432-1529 www.rocketmatter.com
Want a free rate
analysis?Contact
adam@lexcharge.com
www.rocketmatter.com www.lexcharge....
Thank You!Adam Holden | adam@lexcharge.com
Nefra MacDonald | nefra@rocketmatter.com
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Billing Best Practices- How to Make Billing a Breeze and Collect More Money

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It’s no secret that law firm billing can take up way too much time and decrease your firm’s overall productivity. Also, while lawyers need to maintain a regular cash flow, many find it difficult to chase down payments from clients. In this webinar, you will learn how to optimize your firm billing and collections so that you save time, make your clients happy, and increase your bottom line.

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Billing Best Practices- How to Make Billing a Breeze and Collect More Money

  1. 1. Billing Best Practices— How to Make Billing a Breeze and Collect More Money
  2. 2. 888-432-1529 www.rocketmatter.comwww.rocketmatter.com www.lexcharge.com
  3. 3. 888-432-1529 www.rocketmatter.com Establishing better billing practices is key to growth and profitability! www.rocketmatter.com www.lexcharge.com
  4. 4. 888-432-1529 www.rocketmatter.com Billing Best Practices www.rocketmatter.com www.lexcharge.com
  5. 5. 888-432-1529 www.rocketmatter.comwww.rocketmatter.com www.lexcharge.com Step 1: Set up your invoice templates
  6. 6. 888-432-1529 www.rocketmatter.com Step 2: Enable invoice sharing for your clients www.rocketmatter.com www.lexcharge.com
  7. 7. 888-432-1529 www.rocketmatter.com Step 3: Set up and apply taxes, surcharges, and convenience fees if necessary www.rocketmatter.com www.lexcharge.com
  8. 8. 888-432-1529 www.rocketmatter.com Step 4: Capture time automatically with Bill-As-You-Work technology www.rocketmatter.com www.lexcharge.com
  9. 9. 888-432-1529 www.rocketmatter.com Step 5: Schedule a cutoff period for billing www.rocketmatter.com www.lexcharge.com
  10. 10. 888-432-1529 www.rocketmatter.com Step 6: Set up your automated payment emails www.rocketmatter.com www.lexcharge.com
  11. 11. 888-432-1529 www.rocketmatter.com Step 7: Run your pre-bills
  12. 12. 888-432-1529 www.rocketmatter.comwww.rocketmatter.com www.lexcharge.com Step 8: Run batch-billing
  13. 13. 888-432-1529 www.rocketmatter.com Step 9: Set up recurring billing or payment plans for AFA’s or clients that are behind. www.rocketmatter.com www.lexcharge.com
  14. 14. 888-432-1529 www.rocketmatter.com Collections Best Practices www.rocketmatter.com www.lexcharge.com
  15. 15. 888-432-1529 www.rocketmatter.com Rules for collections start with your initial agreement! www.rocketmatter.com www.lexcharge.com
  16. 16. 888-432-1529 www.rocketmatter.com Set a date that invoices are “Past Due” and consider using interest and discounts to incentivize payment www.rocketmatter.com www.lexcharge.com
  17. 17. 888-432-1529 www.rocketmatter.com Designate milestones to call customers regarding outstanding invoices • Two days before “due date” • One week past due • Two weeks past due www.rocketmatter.com www.lexcharge.com
  18. 18. 888-432-1529 www.rocketmatter.com Consider hiring a Billing and Collections Specialist • Full Time Client Service Specialist • Virtual Assistant • Part-time Billing Assistant www.rocketmatter.com www.lexcharge.com
  19. 19. 888-432-1529 www.rocketmatter.com If you only take paper checks, what does that say about your firm? www.rocketmatter.com www.lexcharge.com
  20. 20. 888-432-1529 www.rocketmatter.com Since 1974, The American Bar Association has approved attorneys accepting credit card payments for their fees. www.rocketmatter.com www.lexcharge.com
  21. 21. 888-432-1529 www.rocketmatter.com Increase Payment Options For Your Clients to Increase Your Collections! •Credit Cards •e-Checks www.rocketmatter.com www.lexcharge.com
  22. 22. 888-432-1529 www.rocketmatter.com Payment Processing FAQs What is the process for getting set up? www.rocketmatter.com www.lexcharge.com
  23. 23. 888-432-1529 www.rocketmatter.com Payment Processing FAQs What is a base rate? What about effective Rate? www.rocketmatter.com www.lexcharge.com
  24. 24. 888-432-1529 www.rocketmatter.com Payment Processing FAQs How are processing fees collected? www.rocketmatter.com www.lexcharge.com
  25. 25. 888-432-1529 www.rocketmatter.com Payment Processing FAQs How fast are payments posted? www.rocketmatter.com www.lexcharge.com
  26. 26. 888-432-1529 www.rocketmatter.com To surcharge, or not to surcharge? www.rocketmatter.com www.lexcharge.com
  27. 27. 888-432-1529 www.rocketmatter.com 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 www.lexcharge.com
  28. 28. www.rocketmatter.com Technology Tools that Increase Billable Time and Collections www.lexcharge.com
  29. 29. 888-432-1529 www.rocketmatter.com Q & A www.rocketmatter.com www.lexcharge.com
  30. 30. 888-432-1529 www.rocketmatter.com866-710-1845 Sign up for a free trial, no credit card required!
  31. 31. 888-432-1529 www.rocketmatter.com Want a free rate analysis?Contact adam@lexcharge.com www.rocketmatter.com www.lexcharge.com Law Firm Payment Processing
  32. 32. Thank You!Adam Holden | adam@lexcharge.com Nefra MacDonald | nefra@rocketmatter.com

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