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Timeslips has the ability to calculate and manage a typical contingency fee arrangement:  Costs are billed to the client and once the case is decided, a percentage is awarded the attorney.  Here is the process:

  1. In the “Client Information” section, set “Arrangement 1” as follows:
    a:  Fees:    Contingency flat fee
    b:  Costs:  Based on slips
    c:  At the bottom of the screen, set Hold time charges to “On all bills” to supress any time entries
    d:   Save the client
  2. On the “Funds” tab, make sure that the funds account is set to automatically pay new charges and style on bill is “Detail”
  3. When billing is complete, click the “Edit…” button on “Arrangement 1” page
  4. Change the “Status” to say “Final Bill”
  5. Click “Amount Calculator” and enter:
    – The judgment amount
    – Percentage to charge
    – Amount (enter the correct amount if rounding is an issue)
  6. Change “Hold time charges” to “OFF”
  7. Click OK and save the client
  8. Enter a “Payment to Account” for the entire amount of the award
  9. Generate the client’s bill:
    a:  The charges will be paid for the client’s funds account
    b:  Costs will be removed from the contingency payment
    c:  Remainder will appear as a balance in the client funds (to be sent to client)

Click here to download a PDF of this information.

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