Flat Fee Billing

When a flat fee case comes in the door, you should set up the Client-Matter with the appropriate billing cycle (it may be a monthly flat fee or a one time flat fee).  Fee transactions should be entered by Timekeepers as they would enter them for an hourly Client-Matter. You may also want to make a note of the quoted flat fee in the Quoted Price field in the Matter record.  If the flat fee case is of a type you do often (such as incorporations), you may want to set up a Service Code with a value attached.  As soon as the case comes in, enter a fee transaction using this Service Code.

When it is time to invoice the Client-Matter, write up or down the fee transactions entered by the Timekeepers to the amount quoted and invoice the Client-Matter.  After invoicing, utilize the Billing Realization Report to track performance (income versus invested time) of these types of cases.