Split Billing in TimeSolv

split billingLately we’ve seen an uptick in clients who tell us they need to do Split Billing – that is, take the values from one bill and divide it among multiple parties or even among multiple matters. TimeSolv makes this easy – if you know how to do it. Let’s take a look –

In order to set up split billing, we need to first identify the Master Matter.This will be the matter against which all charges to be split will be posted.

  • A Master Matter cannot be a consolidated matter
  • It also cannot be part of another split billing rule

Let’s say we have a client named Mr. James and our firm is handling his divorce.  The party for Mrs. James and their Children will be assigned 60% of fees and 40% of costs.  The party for Mr. James will be responsible for the rest or remainder of the bill.

1. Click on Clients & Matters under the Clients tab – select Master Matter –

split billing

2. Click on the Split Billing tab

split billing

3.  In the Split Option, set up the distribution of fees and costs. We’ll begin here by determining how to Split the Time

split billing

  • Split Hours & Amount – The hours worked and amount to be billed will be split between all clients-matters under this split billing project, according to the percentages assigned to each client-matter (as illustrated above).
  • Split Hours & Calculate AmountThe amount of hours worked will be split first, then the total amount to be billed will be calculated according to the percentages assigned to each client-matter.
  • This is useful for those split billing projects that have various timekeepers with different default rates working on it-  Once you have made your selection, click on the Save button-  Now set up the distribution among the parties.Begin with the Master Matter –
  • Since we said earlier that Mr. James will be responsible for the remainder of the bill, do not put in percentages for time and expenses, but rather leave the boxes for Remainder checked for each
  • Click on the Save button to save your selection and close the window
  1. Click on Add Split Billing Project as many times as you need to continue adding more client-matters to this split billing project until the distribution table equals 100%

split billing

5.  That’s all there is to it! Any time and expense entries posted to the Master Matter will be automatically calculated and distributed on bills for the other parties.

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Custom Fields in TimeSolv

This feature in TimeSolv is useful for those firms involved in any type of mediation matter, or for firms where one of the payees will be a third-party, such as an insurance company.  Want to know more tips and tricks about this versatile cloud application?  Contact us at 877-357-0555 or write to us as info@corsspointecg.com.  Alexa and Siri may *think* they know everything… but we understand the needs of our clients.

About

Dana Riel works from the Washington DC office of Crosspointe Consulting Group, serving the DC, MD & Northern VA area since 1985. We are the authorized training center in the region for Time Matters and PCLaw by LexisNexis Corporation; QuickBooks by Intuit Corporation; and NetDocuments. Ms. Riel has provided training services to organizations such as the DOD Defense Logistics Agency, Judge Advocate General’s Office (JAG)/Department of the Navy, University of the District of Columbia School of Law, U.S. Department of Commerce and the U.S. Department of Veterans Affairs, as well as for small- to mid-size law firms. In 2009, she participated in a series of day-long seminars sponsored by the District of Columbia Bar Association Practice Management Section, titled “Basic Training: Learn About Running a Law Office”. Ms. Riel has served as an Adjunct Professor in Georgetown University’s Paralegal Studies Program, having taught the courses “Legal Ethics/Legal Technology” in 2009, and “Legal Technology" for the Spring & Summer Semesters in 2010.

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