How much am I collecting each month? Is it consistently less than I invoice? Am I billing accurately for the time I put in?
These are questions law firms struggle with every month as they review their cash flow and the profitability and overall financial health of the firm.
Poor billing, invoicing, and account receivable practices contribute to bottlenecks in getting paid. But these poor habits can be rectified and reversed, resulting in an overall increase in revenue collection as well as an increase in client service and satisfaction
In this guide, we look at common billing mistakes and solutions, quick and easy payment options, and how to use a practice management system to automate the process and increase collections.