The Hourly Billing Matters Summary report comprehensively overviews all legal matters handled under an hourly billing arrangement. This report is essential for law firms to track time-based billing, monitor financial performance, and ensure that resources are aligned with the expected outcomes.
Insights Expected from the Hourly Billing Matters Summary Report
This report provides valuable insights that help law firms manage hourly billing matters efficiently:
Matter Overview: A detailed summary of all hourly billing matters, including active and closed cases, ensuring transparency and accountability in case management.
Time and Expense Tracking: Allows firms to monitor billable hours and expenses associated with each matter, ensuring that all time worked is recorded accurately and reflected in billing.
Revenue Tracking: Offers a clear breakdown of revenue generated from hourly matters, making it easy to compare billable work against expected revenue.
Profitability Assessment: Firms can analyze whether hourly matters are being handled efficiently by comparing the total billed hours with matter profitability, helping to identify areas where billing or resource allocation may need adjustments.
Workload Distribution: Ensures that the time spent on matters is in line with the firm's expectations, allowing for better planning and attorney assignment to matters based on workload and expertise.
To generate the Hourly Billing Matters Summary report:
Navigate to the Dashboard
Click on Reports
Scroll down to the Matters section and choose 'Hourly Billing Matters Summary.'
You can refine the details by applying various filters. The report can be exported for further analysis, enabling law firms to evaluate performance, optimize hourly billing practices, and ensure that all billable time is accounted for and invoiced efficiently.
Explore this comprehensive guide for a deeper understanding of all features available in the reports interface.