Timekeeping & Billing

Measuring the productivity and profitability of your timekeepers is rarely straightforward. There is, of course, the hourly rate and total billable hours for any given matter, but that fails to look at all the different variables: differing rates by matter or client and time spent on the matter that can’t be billed to the client (or is eventually written off).

Electronic, or LEDES billing is a necessary, and often dreaded, process at many law firms. Between enforcing timekeeping with the appropriate LEDES codes, generating invoices that are in alignment with the client’s requirements and successfully submitting these invoices to various clearinghouses, e-billing can be time-consuming and downright frustrating for the back-office. With CARET Legal’s advanced…

Every year, we look forward to heading to Chicago for ABA TECHSHOW to join fellow tech-enthusiasts for new product announcements, informative sessions and panel discussions, and networking with partners, colleagues and clients. Despite this year’s conference being held virtually, we are still excited to share a few of the over 1200 updates that we’ve made to CARET Legal since last year’s event.

Congratulations! You have decided, either as an individual or with a group of colleagues, to open your own law firm. There is a lot to do and many choices to be made. Everything from office location, firm name, domain name, business cards, internet and phone services to computers (Windows or Mac) must be decided. You may get to the point where you feel you just do not want to make another decision, but decide you must.

As a lawyer, you start off your work day by checking your emails. You see one regarding a task that needs to be done, so you forward the message to your legal assistant. You then receive a reply with questions regarding the task. You reply, and so begins a long email thread. A week later, you’ll add to that thread when you inquire as to the status of the project. It’s an all too common, wildly inefficient, scenario that plagues legal teams.

CARET Legal’s Split Billing Feature allows users to divide the invoiced amount for services and expenses on a singular matter between multiple parties. Users can set unique rates for each client and split percentages independently for fees and costs. Once Split Billing has been configured on the Matter-level, users can generate invoices as usual. Using the previously-entered percentages, this tool generates a unique invoice for each billing client listed with its own unique invoice number. Each invoice will include the Matter, as well as each individual billing clients’ contact information.

Each year, the CARET Legal development team releases hundreds of updates and dozens of new features to help law firms be more efficient and profitable. While it can be difficult to narrow down our list of favorites, CARET Legal users have spoken, and based on their feedback, we’re pleased to share our top 10 releases of 2020.

As the business of law continues to change, Alternative Legal Service Providers (ALSP) are becoming a more integral part of the legal industry. Law firm clients continue to investigate the best solutions to suit their needs. In today’s competitive environment, it is important that all businesses use the most competent and cost-effective provider to service them. Many businesses are now providing services that lawyers traditionally provided. They include: Litigation Support, Litigation/Legal Research, Document Review, E-Discovery, Regulatory Risk, and Compliance.

Controlling receivables directly affects a firm’s financial health. Therefore, it is imperative that a law firm has an organized and detailed method for collecting client payments in a timely manner.