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This feature is included in our financial management module It lets you distribute the work done on a matter among multiple clients. Your fees and costs are entered once and a separate bill is produced for each client showing his or her share.
Although quite a few software companies are now offering fee splitting, there are very significant differences among them. Legalmaster offers quite a few features that you will not find elsewhere.
We have created a couple of terms that will be useful in describing this feature. If you wish to split the fees and/or costs among a number of clients, you must create one extra matter; we call that matter the Dummy. The clients actually being billed we call the Receptors.
A Dummy may have as many Receptors as you wish. Each Receptor is limited to one Dummy. Each receptor may be assigned a percentage value for fees and another for costs. Although it could be argued that the percentages should sum to 100, it is not a requirement of the software.
Gold StarThe receptors do not all have to be billed at the same rates. For example, let’s say that you split a matter between two clients at 50% each. You work an hour on the matter and want one client billed at $100 per hour and the other client billed at $125 per hour. As a result, the clients would be billed $50 and $62.50 respectively.
Fees or costs may be entered directly against a Receptor if they are not to be shared.
Legalmaster accommodates the Price Waterhouse/American Bar Association Uniform Task Based Management System (UTBMS). This conventional method of classifying time entries has been adopted by a few dozen mid-sized insurance companies. Although the larger insurance companies are for the most part developing their own task coding schemes, these other systems are structured in similar ways to that of the UTBMS. You may read much more about this on our electronic billing page.
Legalmaster’s task billing options may be tailored to address any of these systems’ demands. This capability is included with any version of Legalmaster’s billing software.
"Split billing" is part of the Legalmaster line of products, developed by Computer Software for Professionals.