What is Contingency Fee Billing and How it's Handled in TimeSolv
Matters are usually set as a contingency when the law firm does not bill time at a set rate, but instead, charges the Client an agreed amount upon completion of the case.
To set up a contingency Matter in TimeSolv:
Click on Clients>Clients & Matters>[Matter name]>Invoice Settings.
Under 'Billing Arrangement' options, choose the arrangement as 'Time and Expense'.
Next, you need to put the Matter on 'Hold Billing' until you are ready to bill the contingent Matter.
To 'Hold Billing', click on the Matter details general tab and enable 'Hold Billing' checkbox.
Disable it from this same screen when you are ready to bill the contingent Matter.