Wednesday Wisdom: Including Flat Fee Matters in Your Batch Billing
Batch billing is a breeze with Rocket Matter. Many times, your flat fee matters don’t need to be included in your monthly invoicing. There are times, though, when you may need to include them in your batch billing.
Suppose you’d like to collect the total fee over 2 equal payments and you don’t want to miss out on sending the appropriate invoice for the first or second payment of the flat fee. You can easily include some or all of your flat fee matters in your regular batch billing, by following some simple steps in Rocket Matter:
1. Create the new matter and choose hourly as your billing method.
2. Click Edit Matter and I Want To Set Custom Rates. Here you will change everyone’s hourly rate from default to zero.
3. Use the Bill Expense or Time tool to capture the first part of the fee as a cost, or bill out 1 hourly unit at that specific price.
4. Open the appropriate matter from the View Open Matters report and note that it will now show the first portion of fee as due and will surface when you run your batch billing for the month.
5. Next month, or whenever you’d like to invoice and collect for the remaining balance, simply repeat step 3 and your matter will again surface in that month’s batch billing, ready to send to your clients.
That’s all there is to it. Make sure to set your hourly rates to zero in the flat fee matter, so that you can keep track of your time without impacting the balance due. You’ll also be able to track whether the balance is paid or past due in Rocket Matter. Stay tuned for more updates on how to take full advantage of Rocket Matter’s blazingly fast billing capabilities and help your practice save time and effort every month.