Want to streamline your billing process, increase cash flow and make your clients happy?
Use customized invoices to describe what you’ve done and highlight your legal brand. Even better: create standardized templates for your invoices.
“Invoice templates reduce administrative work as your details, hourly rates, client information, and payment method are included in the invoice,” according to this article in the National Law Review. “You can also customize the invoice templates to your firm’s brand. Lastly, they can also be used to automate recurring invoices, all while keeping the process professional and organized.”
Invoicing is an important – but often overlooked – aspect of client service.
“A pleasant invoicing experience can be an opportunity to distinguish yourself from competitors,” writes Kamron Sanders, author of the above-referenced National Law Review article. “Before sending an invoice, ask your client who the invoice should be made out to and if they have a preferred payment method — does the client prefer receiving an invoice via email or instead going through the client portal? Do they want to pay by credit card online or by check?”
Read Legal Invoice Templates Can Get Your Firm Paid Faster (natlawreview.com)
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Key Components of a Legal Invoice Template
Following are some of the essentials to include in your billing template, per Kamron Sanders (quotes are from the National Law Review article):
- Contact information. “Both the law firm and the client’s contact information should be clearly listed in the heading of the invoice. This includes the company name, their point of contact’s first name and last name, a phone number, an email, and an address.”
- Send date. “The date on which the invoice was created and sent should be indicated for accounting purposes, but also to keep in account the payment terms. For example, if the payment is due 30 days after receiving the invoice, the date indication will help better identify the deadline.”
- Payment terms. “Conditions and expectations around the payment should be identified on the invoice.”
- Hours billed. “Include the number of hours billed for the services provided.”
- Line items. “Details on the services provided should be indicated to provide clarity.”
- Subtotal. “The invoice should include the total sum of the different services and taxes if applicable.”
- Due date. “To ensure the payment is received within a reasonable delay, the due date should be indicated on the invoice.”
Source: The National Law Review
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