TimeSolv Legal provides invoices in LEDES98B (LEDES – Legal Electronic Data Exchange Standard) format. TimeSolv Corporation is a member of the LEDES Oversight Committee and we are committed to meeting the LEDES98B guidelines.
Now we have added another feature that allows timekeepers to enter line item adjustment to their LEDES bills.
How does it work: when entering time requiring line item adjustment, enter time, rate, and fixed fee amount to indicate the total for a time entry. TimeSolv will automatically calculate the adjustment required based on difference is Hours X Rate and Fixed Fee. Mathematically, the Adjustment = Fixed Fee – (Hours X Rate). Please note that the if you edit this type of transaction, you will have to re-enter the rate manually.
This feature is required by some billing systems for fixed fee billing. Feel free to contact TimeSolv Customer Support at email@example.com if you need assistance with LEDES billing.
Latest posts by TimeSolv Support (see all)
- Top 7 costs to discuss with your firm’s client BEFORE it shows up on the legal bill - September 6, 2017
- Your clients are evaluating your law firm’s efficiency – are you? - August 30, 2017
- The benefits of moving from legacy legal billing to a cloud-based solution - August 22, 2017