Law Firm Invoice Template
A law firm invoice is a billing form specific to legal services. It allows for the listing of services on an hourly basis, with individual columns for listing the hourly rate, number of hours, and total cost per provided service. Alternatively, the form can be used for adding standard non-hourly fees (such as consultations or the drafting of an agreement). The price that a client has to pay varies on the lawyer’s experience and location, as well as the type of service needed. The form can serve as a reusable template by filling in information that remains unchanged from client-to-client such as the law office’s name, address, and contact information.
How Lawyers Charge Clients
Lawyers can charge using the following payment calculations: 1.) Fixed, 2.) Hourly or billing units, 3.) Retainer fees, or 4.) Timesheets. Fixed rates are calculated by the type of service. Hourly, billing units, and timesheets fees are based on the amount of time that a lawyer spends working. Another payment calculation method is known as charging “retainer fees”, which are similar to a bank account. In this case, the lawyer charges the client a set fee (e.g., $5,000) that is then used to cover expenses as they arise.
Lawyers and clients must discuss the payment terms before services begin. Clients may have to pay an initial fee, regularly, or at the end of the case depending on the agreement between both parties. Additional fees may be added on for services, like printing or barrister fees. The lawyer needs to make the client aware of these potential charges beforehand.