Overview

Billing Rates can be set at multiple levels throughout the system, depending on the requirements of your firm. Rates are defined as a monetary value per hour for timed entries and the unit rate for itemised entries. A Rate set is a collection of rates. 

TABLE OF CONTENTS

• Overview
• Types of Billing Rates
• Rate Sets and Hierarchy
• Setting up Billing Rates
  • Fee Earner ( Employee Rate)
  • Matter Billing Rates
  • Client Billing Rates
  • Task Type Billing Rates

Types of Billing Rates

The system allows for a number of Billing Rates:

Employee Rate: special rates applicable to an employee or all employees of a particular level.

Matter Rate: Special rates that apply only to a particular matter.

Client Rate: Special rates that apply only to a particular client.

Task Type Rate: Special rates that apply only to a particular timesheet task type.

Rate Sets and Hierarchy

A Rate set is a collection of rates. Each Rate Set can then have any number of rates created.  A rate must have a name and value in the currency of the Rate Set. They can be optionally associated with a combination of the following specific contexts:

• Matter type
• Task Type
• Job Title
• Billing Grade
• Employee

Rates have an Hierarchical Application throughout the system in the following order: 

1. Matter
2. Client
3. Task Type
4. Employee
5. Billing Grade
6. Job title
7. Matter Type

Setting up Billing Rates

1. To set up Billing Rate Sets, select Settings - Firm Settings from the top navigation menu. Then Select Billing Rates.

2. The Rate Set marked as Is Firm Default is the default Rate Set to be applied for the firm. This rate will apply to all Clients and Matters where a rate is not set. This can be adjusted by toggling on or off. 

Fee Earner ( Employee Rate)

1. Click Add at the bottom of the screen to add a new Rate Set.

2. The New Rate Set screen will appear. If the rate is applicable for only a set period of time, enter an Applicable From and To date. Click Add Rate to add individual employee rate.

It is possible to use Job Description as the name or individual name can be used as the rate name.

3. Select Save.

4. To apply this rate to a matter, go to the matter and click on matter setup to confirm the rate set.

Matter Billing Rates

1. Click Add at the bottom of the screen.

2. The New Rate Set screen will appear. If the rate is applicable for only a set period of time, enter an Applicable From and To date. Click Add Rate to add a matter rate. This rate will be applicable for all fee earners who are working on this matter.

3. Click on Save at the bottom of the page to save the rate.

4. To apply the rate to the matter, go to a matter and click on matter setup, scroll down to select the rate set from the drop down menu.

Client Billing Rates

1. Click Add at the bottom of the screen.

2. The New Rate Set screen will appear. If the rate is applicable for only a set period of time, enter an Applicable From and To date. Click Add Rate to add a client rate.  This rate will be applicable for all fee earners that is working on matters for this Client. 

3. Click on Save at the bottom of the page to save the rate.

4. To apply the rate to the client, go to Directory and click on clients and open a client card or you can open it from the favorite clients listed.

5. Click on Update Client in the client card actions menu.

6. In Rate Set, select the Client rate from the drop down menu, then click on Save or Save & Close at the bottom of the screen.

7. Once this rate is set on the client, when a matter is created for this client it will pick up the client rate.  When a rate set exists at the client level, the matter rate set will be marked with “Inherited” as the Rate Set. 

This means the matter will always inherit the rate set held at client level and any changes made at that level thereafter. 

If no rate set exists at client level, the matter will pick up the firms Default Rate Set. 

Task Type Billing Rates

1. If a new task type is to be created, select Task types from the settings menu and then click Add. Create an Itemised/Fixed Fee task and save.

2. Select Billing Rates in Settings, and open the rate set by clicking the Edit Icon.

3. Click Add Rate and add the Itemised task types, add a rate then click Save.

4. The rate will now apply to time entries/work items with this task Type.  To enter a work item, navigate to the matter, matter actions menu and click on Work Items and then click on Add Work Item

5. In the Task Type Drop down menu, select the Itemised Task Type Invoice Entry that was added to the Default Rate. It will populate the associated rate. Change the Unit and click on Save.