Getting paid requires a thoughtful billing system. Tell you clients upfront, in your fee agreements, how you will bill, when you will bill, and what happens if they are late on a payment. Setting concrete expectations will help you to get paid and avoid problems down the road. Whenever you can, collect money at the outset of representation and bill at regular intervals. Have a system to monitor and report on your accounts receivable. The more time that goes by without payment from a client, the less likely you are to get paid. See Start-Up: Kit Technology Section for product suggestions regarding both law practice management software with time and billing features and financial management software.
Should Lawyers Take Credit Cards (Goldman & Marshall, Massachusetts Bar Association)
Products (a non-exclusive listing)
FURTHER READING FROM OUR LENDING LIBRARY
How to Draft Bills Clients Rush to Pay (Jay Foonberg, American Bar Association)
Collecting Your Fee: Getting Paid from Intake to Invoice (Ed Poll, American Bar Association)