billing best practices- how to make billing a breeze and collect more money
TRANSCRIPT
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Billing Best Practices—
How to Make Billing a Breeze and
Collect More Money
![Page 2: Billing Best Practices- How to Make Billing a Breeze and Collect More Money](https://reader034.vdocuments.site/reader034/viewer/2022051404/5a647a0d7f8b9a2c568b48ef/html5/thumbnails/2.jpg)
888-432-1529 www.rocketmatter.comwww.rocketmatter.com www.lexcharge.com
![Page 3: Billing Best Practices- How to Make Billing a Breeze and Collect More Money](https://reader034.vdocuments.site/reader034/viewer/2022051404/5a647a0d7f8b9a2c568b48ef/html5/thumbnails/3.jpg)
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Establishing better billing
practices is key to growth and
profitability!
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![Page 4: Billing Best Practices- How to Make Billing a Breeze and Collect More Money](https://reader034.vdocuments.site/reader034/viewer/2022051404/5a647a0d7f8b9a2c568b48ef/html5/thumbnails/4.jpg)
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Billing Best Practices
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Step 1: Set up your invoice
templates
![Page 6: Billing Best Practices- How to Make Billing a Breeze and Collect More Money](https://reader034.vdocuments.site/reader034/viewer/2022051404/5a647a0d7f8b9a2c568b48ef/html5/thumbnails/6.jpg)
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Step 2: Enable invoice sharing for
your clients
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![Page 7: Billing Best Practices- How to Make Billing a Breeze and Collect More Money](https://reader034.vdocuments.site/reader034/viewer/2022051404/5a647a0d7f8b9a2c568b48ef/html5/thumbnails/7.jpg)
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Step 3: Set up and apply taxes,
surcharges, and convenience fees
if necessary
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![Page 8: Billing Best Practices- How to Make Billing a Breeze and Collect More Money](https://reader034.vdocuments.site/reader034/viewer/2022051404/5a647a0d7f8b9a2c568b48ef/html5/thumbnails/8.jpg)
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Step 4: Capture time automatically
with
Bill-As-You-Work technology
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![Page 9: Billing Best Practices- How to Make Billing a Breeze and Collect More Money](https://reader034.vdocuments.site/reader034/viewer/2022051404/5a647a0d7f8b9a2c568b48ef/html5/thumbnails/9.jpg)
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Step 5: Schedule a cutoff period for
billing
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![Page 10: Billing Best Practices- How to Make Billing a Breeze and Collect More Money](https://reader034.vdocuments.site/reader034/viewer/2022051404/5a647a0d7f8b9a2c568b48ef/html5/thumbnails/10.jpg)
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Step 6: Set up
your automated
payment emails
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![Page 11: Billing Best Practices- How to Make Billing a Breeze and Collect More Money](https://reader034.vdocuments.site/reader034/viewer/2022051404/5a647a0d7f8b9a2c568b48ef/html5/thumbnails/11.jpg)
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Step 7: Run
your pre-bills
![Page 12: Billing Best Practices- How to Make Billing a Breeze and Collect More Money](https://reader034.vdocuments.site/reader034/viewer/2022051404/5a647a0d7f8b9a2c568b48ef/html5/thumbnails/12.jpg)
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Step 8: Run batch-billing
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Step 9: Set up recurring billing or
payment plans for AFA’s or clients
that are behind.
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![Page 14: Billing Best Practices- How to Make Billing a Breeze and Collect More Money](https://reader034.vdocuments.site/reader034/viewer/2022051404/5a647a0d7f8b9a2c568b48ef/html5/thumbnails/14.jpg)
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Collections
Best
Practices
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Rules for collections start with your
initial agreement!
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![Page 16: Billing Best Practices- How to Make Billing a Breeze and Collect More Money](https://reader034.vdocuments.site/reader034/viewer/2022051404/5a647a0d7f8b9a2c568b48ef/html5/thumbnails/16.jpg)
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Set a date that invoices are “Past
Due” and consider using interest
and discounts to incentivize
payment
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![Page 17: Billing Best Practices- How to Make Billing a Breeze and Collect More Money](https://reader034.vdocuments.site/reader034/viewer/2022051404/5a647a0d7f8b9a2c568b48ef/html5/thumbnails/17.jpg)
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Designate milestones to call customers
regarding outstanding invoices
• Two days before “due date”
• One week past due
• Two weeks past due
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![Page 18: Billing Best Practices- How to Make Billing a Breeze and Collect More Money](https://reader034.vdocuments.site/reader034/viewer/2022051404/5a647a0d7f8b9a2c568b48ef/html5/thumbnails/18.jpg)
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Consider hiring a Billing and
Collections Specialist
• Full Time Client Service Specialist
• Virtual Assistant
• Part-time Billing Assistant
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![Page 19: Billing Best Practices- How to Make Billing a Breeze and Collect More Money](https://reader034.vdocuments.site/reader034/viewer/2022051404/5a647a0d7f8b9a2c568b48ef/html5/thumbnails/19.jpg)
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If you only take paper checks, what
does that say about your firm?
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Since 1974, The American Bar
Association has approved attorneys
accepting credit card payments for
their fees.
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Increase Payment Options
For Your Clients to
Increase Your Collections!
•Credit Cards
•e-Checks
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![Page 22: Billing Best Practices- How to Make Billing a Breeze and Collect More Money](https://reader034.vdocuments.site/reader034/viewer/2022051404/5a647a0d7f8b9a2c568b48ef/html5/thumbnails/22.jpg)
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Payment Processing FAQs
What is the
process for
getting set up?
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![Page 23: Billing Best Practices- How to Make Billing a Breeze and Collect More Money](https://reader034.vdocuments.site/reader034/viewer/2022051404/5a647a0d7f8b9a2c568b48ef/html5/thumbnails/23.jpg)
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Payment Processing FAQs
What is a base
rate?
What about
effective Rate?
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![Page 24: Billing Best Practices- How to Make Billing a Breeze and Collect More Money](https://reader034.vdocuments.site/reader034/viewer/2022051404/5a647a0d7f8b9a2c568b48ef/html5/thumbnails/24.jpg)
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Payment Processing FAQs
How are processing fees collected?
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![Page 25: Billing Best Practices- How to Make Billing a Breeze and Collect More Money](https://reader034.vdocuments.site/reader034/viewer/2022051404/5a647a0d7f8b9a2c568b48ef/html5/thumbnails/25.jpg)
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Payment Processing FAQs
How fast are
payments posted?
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![Page 26: Billing Best Practices- How to Make Billing a Breeze and Collect More Money](https://reader034.vdocuments.site/reader034/viewer/2022051404/5a647a0d7f8b9a2c568b48ef/html5/thumbnails/26.jpg)
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To surcharge,
or not to
surcharge?
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Tips for choosing the right legal
payment processor
• Must understand the rules and regulations with
Trust and IOLTA accounts
• Must understand law firm’s workflow and how
payments will be taken
• Free Assessment & Personalized Service
• Understanding your base rate
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Technology Tools that Increase
Billable Time and Collections
www.lexcharge.com
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Q & Awww.rocketmatter.com www.lexcharge.com
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Sign up for a free trial, no
credit card required!
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