It may be important for firms to charge their clients a monthly fee to maintain continued involvement and ensure that the client continues to work with the firm even if they do not have any active matters. This leads to client stability and security, predictable profits, flexible services, and guaranteed recurring revenues for law firms.
Whether you are charging retainer invoices for routine legal advice or agreeing to be on standby for a case, a retainer invoice is an important part of your monthly income as a result of your legal services. It is a fee that not only protects you after you have begun working for a client but also ensures a guaranteed income amount in case of unforeseen circumstances delaying payment from the client. This week’s Tip of the Week takes a look at TimeSolv’s latest enhancements to Retainer Invoices.
Users now have the ability to download, preview, void, and resend Retainer Invoices easily from under Invoices>Retainers screen.
We’ve even added search filters to the screen based on Client-Matter, their ‘Status’, and whether or not the recurring payment has any errors associated with it so that users do not have to scan the entire list.
With this latest update, users can fully utilize the Retainer Invoices feature in TimeSolv as we continuously evolve to help make your billing processes more efficient and effective.
How TimeSolvPay will Decrease Your AR and Increase Your Profits
A vast majority of law firms already understand that accepting online payments is a must in this modern age. However, not all payment processors are created equal.
Join our webinar and learn how TimeSolvPay, built into your account, can be the difference-maker when it comes to time and efficiency when collecting payment, even if you already use another processor.
The webinar will be held on February 23rd, at 1 PM EDT. Sign up here.
If you’d like to contact TimeSolv support for help, please call 1.800.715.1284 or schedule a FREE 30-minute session now!