How to budget your legal projects with TimeSolv | TimeSolv
Glass bank with many world coins and budget word or label on saving money jar

How to budget your legal projects with TimeSolv

In law school and the early years of your practice, you no doubt learned a lot about the all-important skills of learning how to think like a lawyer and how to take every strategic step possible to win the results that your clients are seeking. But in many cases, the exercise of both of those skills has the end result of a legal bill that is far higher than what your client either expected or is willing to pay. And even where the client is happy with the end result of your work, if going over a client’s budgets results in you and your firm not getting paid for all of the hours that could have been spent on clients that do pay in full, then it is your bottom line that takes the hit. Which is why even the most skilled attorneys need to incorporate budgeting skills into their practice – if even for the first time – to make sure that budget-conscious and savvy clients’ budgetary goals are met in addition to legal goals, and that your firm gets paid for its work.

TimeSolv Automatically Keeps Track of Your Budget

When you incorporate TimeSolv into your firm’s practice, you get not just time tracking software but also tools to manage your legal projects and automatically keep them within the budget that your client has agreed to for a certain matter. With our project management features, you can instantly keep track of and monitor:

Total Hours: The total hours billed by associates and partners alike are instantly collected in one location, with an ongoing tally of how many hours are still available to be billed per the budget, as well as the ability to prevent excess hours from being billed.

Total Fees: Of course, not all lawyer hours are billed at the same rate, so you can also keep track of fees. As with hours, you will be able to see the amount of fees left in the budget, and prevent excess fees from going on a bill.

Expenses: With TimeSolv, you can see all expenses that have been billed to client expressed as one ongoing total with tools to prevent excess expenses.

Complete Bill: Adding all the above together, calculating a client’s total bill at any given moment can be done instantaneously, and you can quickly see what your remaining budget is in order to strategize the remainder of the project in an efficient and client-facing manner.

Start Your Free Trial of TimeSolv Today

TimeSolv offers competitive pricing that brings up-to-the-minute innovation to your freelance business, whether you are just starting out or deep into your freelance career. To start your free 30-day trial of TimeSolv today, click here.

Leave a Comment