Nancy Griffing The Griffing Network Law Office Finances: Time and Expense Recording, Billing Styles and Profitability Nancy Griffing The Griffing Network 11011 Richmond Ave., Suite 600 Houston, Texas 77042 713.789.3323 www.griffingnetwork.com

Time Recording Ways to track time effectively Spreadsheet look and feel Timeslips approach Paper to electronic Time Recording as an outcome of productivity by using Practice Management Solutions

Expense Recording – To Track or Not to Track Ways to track expenses Paper to Electronic Expense Recovery What to track Soft Costs: Copies, Print copies, Color Copies, Long Distance, Faxes Hard Costs: Court fees, Filing Fees, Experts, Medical Records, anything you pay to a client. What about a flat fee for soft costs?

Billing Styles – What works? UTBMS Billing for Auditors Task code and Additional Code required (A and L codes) Electronic format submission Fees required for Internet interface Fees required for Subscription Fees requried for manual submission

Billing Styles – What works? Summary Style Billing Single paragraph style with total Usually a flat fee bill Expenses subtotaled or detailed Detailed bill Hour for hour Detailed or summary style expenses

Billing Styles – What works? Paragraph style billing Single entries are merged into a paragraph style presentation Electronic style billing Spreadsheet format submission Spreadsheet style summary

Billing Styles – What works? Court presentation Detailed accounting of time investment to prove fees Detailed accounting of expenses

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Law Firm Accounting: An Afterthought Beyond Balance Sheet / Income Statement Overhead Expenses Cost Centers Net Income per Person Client Costs Hard Soft Example included about IRS

Time and Billing Software Product Small 1-9 Attorneys Mid to Large 10+ Attorneys ProLaw Ready ProLaw Yes PCLaw PCLaw Pro Juris Billing Matters TABS Timeslips

Comparative Pricing Price Support Notes Juris $ 399.38/mo. For 9 timekeepers Included 5 hrs./mo. Comparable to PCLaw in feature set. Three year contract is required. TABS $ 795.00 Single user with 9 timekeepers Not Included Older design in programming - far fewer built in reports. We do not do monthly billing on this product. Timeslips $ 499.99 Per single station No accounting in this product - must purchase separately and link the products. Billing Matters (Sold with Time Matters only), Professional $ 900.00 For the first new user Excellent case management, good time and billing ProLaw Ready $5,145.00 For one user Fully integrated Time Billing Accounting with Case Management features. ProLaw $ 22, 500.00 For 15 timekeepers Fully integrated Time Billing Accounting with Case Management features. Product is for medium to large firms (10<). PCLaw $ 615.00 For the first new user PCLaw Pro $ 4,850.00 For the first ten users

Which Product/Choice is right for you? Price Functionality Ease of Use Total Cost of Ownership Support Training Committment

Questions? Nancy Griffing The Griffing Network 11011 Richmond Ave., Suite 600 Houston, Texas 77042 713.789.3323 www.griffingnetwork.com