How to Master Your Law Firm’s Time and Billing
Lawyers have a heavy workload. With so many clients and their various needs, it’s easy to put tedious administrative tasks like time tracking and billing on the back burner. In the middle of a busy day, it’s easy to forget to log time spent as you work… and at the end of the day, you may be tempted to further put off logging your time until the end of the week.
However, that’s a dangerous game to play with your law firm’s reputation. Not tracking your time accurately can quickly turn into a compliance violation. According to rule 1.5 of the ABA, lawyers must not collect an unreasonable fee for expenses.
If compliance risks aren’t enough, consider how time tracking impacts your client relationships. If you’re not tracking your time thoroughly for clients, whether you bill hourly or use value billing, you run the risk of clients questioning how you spent your time or even filing a malpractice claim.