Wednesday Wisdom: Flat Fee Billing Versatility with Rocket Matter
Billing versatility is a big advantage for Rocket Matter users. This week, we will go beyond hourly billing and examine flat fee matters.
To get started, set up a new matter by selecting an existing, or adding a new client, and naming the matter. Next, under Billing Method, click flat fee and enter an amount for that matter. Remember, you can set availability in all your matters to everyone in your firm, just yourself, or selected users only.
From your matter dashboard, click Edit Matter on the top left. Click I Want to Set Custom Rates (center-left) and view the custom rates pop-up. If you’d like to capture your time on this new matter, without adding hourly charges, simply set the matter rate for each applicable user to zero. You can still capture costs and expenses using Bill Expense or Time on the right hand side of your matter dashboard.
In addition to new matters, you can also convert a current matter over to flat fee, if the need should ever arise. To do this, click on Edit Matter, from the existing matter dashboard. Click I Want to Set Custom Rates and change the applicable user rates to zero. Be sure to fill out the date above. This will tell Rocket Matter when to begin capturing time and expenses only, going forward, in this matter.