Firm Central® Time & Billing includes the ability to generate LEDES 1998B eBilling format. This is a special electronic billing format that may be required by some of your firm’s clients including insurance companies, corporate clients, and bankruptcy trustees.
Using LEDES eBilling is optional on a per matter basis. Invoices can be downloaded in the LEDES format from the Invoice details page. The LEDES file can also automatically be saved to the Matter Document folder.
To activate LEDES for your matters, a Firm Central user with Administrative access goes to the Time & Billing page and then to the eBilling tab. Select Use LEDES formatting on selected matters. Enter your firm’s LEDES ID number. Choose the appropriate LEDES Timekeeper Classifications for each Firm Member. Click Save.
To activate LEDES formatting for a new matter, check Use LEDES formatting in the Billing Information before saving. For existing matters, select Edit Matter Details (pencil symbol) and click Select LEDES formatting before saving. In each case you will be asked to enter a LEDES Client Matter ID. You can reverse the selection at any time.
If you are required to use the ABA activity and task codes on your LEDES invoices, they are included with Firm Central Time & Billing and can be selected when you enter time and expense items.
Each time an invoice is generated in an LEDES matter, the LEDES format will be available for downloading. A copy is also saved in the Documents tab of the Matter in Firm Central. An LEDES bill looks like this:
A regular version of the invoice can also be downloaded at any time.
Keeping track of your firm’s trust account (IOLTA) information is very easy in Time & Billing. After you have created a client and matter in Firm Central, a trust account for that matter can be set up quickly as follows. Click on Time & Billing and select the Trust Accounts tab. Choose +Trust Account.
Enter the relevant information and click Create.
To see current trust account balances at any time, simply click on the Trust Accounts tab in Time & Billing. A list can be printed, downloaded as a .pdf file, or exported to an Excel® file. See details of all receipts and disbursements for a particular matter by clicking on the Account Name.
From this same window click on +Transaction to enter new deposits, disbursements, and adjustments. If the disbursement is to pay an invoice, simply select the invoice from the dropdown menu.