Shivani Sharma on LinkedIn: Entering a timesheet in the legal industry is a skill that requires… (2024)

Shivani Sharma

Commercial Litigation Lawyer (Debt Recovery | Insolvency)

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Entering a timesheet in the legal industry is a skill that requires attention to detail, accuracy, and an understanding of the billing practices. Timesheets are crucial for tracking billable hours, non-billable hours, and expenses, and they play a significant role in the financial management of firms. The unfortunate element is that, no-one ever teaches how to effectively time bill.Once upon a time, as a junior lawyer, I was drafting my first letter of advice on fiduciary duties and unconscionable transactions in commercial dealings ( I'll drop some sections of the Act here if it makes me look cooler! 😎). This letter took me about 3 days to assemble (Case law, legislation, advice, the whole shabang!). Can you imagine what my timesheet looked like... 😕 I modified my time to something I thought was 'more realistic'. However, as a junior, I didn't understand how altering my time would weigh up against my billing target oraffect the firm's overall performance. I also had this habit of drafting and/or responding to letters and emails on the train or while I was waiting for my matter to be heard in the court list and with the mayhem of it all, some aspects never reached an invoice purely because it never reached my timesheet (don't worry I mastered this skill in my later years 😏).Mastering the skill of entering timesheets in the legal industry is essential for accurate billing and contributes to a law firm's overall efficiency and financial health. Now, LEAP have created some very cool tools to help firms maximise your billings (When is comes to features, this is my highlight of 2023!). If you're a firm that wants to accelerate the growth of your billings, then please email me at Shivani.Sharma@Leap.com.au.LEAP Legal Software APAC LEAP Dev #legaltechnology #innovationinlaw #LEAPinginto2024

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Shivani Sharma

Commercial Litigation Lawyer (Debt Recovery | Insolvency)

10mo

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#legal #technology #software #legalinnovation #billingsolutions #timesheets

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  • Richard Burcher LLB, Notary Public, ALPP Platinum Plus

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    𝗖𝗼𝘀𝘁 𝗰𝗼𝗻𝘀𝗰𝗶𝗼𝘂𝘀𝗻𝗲𝘀𝘀 𝗶𝘀 𝗻𝗼𝘁 𝗮𝗯𝗼𝘂𝘁 𝗯𝗲𝗶𝗻𝗴 𝘁𝗵𝗲 𝗰𝗵𝗲𝗮𝗽𝗲𝘀𝘁! 💰 In the context of pricing legal services, "cost consciousness" refers to an approach where both law firms and their clients are keenly aware of and actively manage the expenses associated with legal work. This concept involves several key aspects: 👇 𝗧𝗿𝗮𝗻𝘀𝗽𝗮𝗿𝗲𝗻𝗰𝘆: Law firms provide clear, upfront information about their pricing structures, billing practices, and potential costs associated with legal services.𝗘𝗳𝗳𝗶𝗰𝗶𝗲𝗻𝗰𝘆: Legal professionals strive to complete tasks in a timely and efficient manner to reduce billable hours and associated costs. This includes leveraging technology and streamlining processes.𝗩𝗮𝗹𝘂𝗲-𝗕𝗮𝘀𝗲𝗱 𝗣𝗿𝗶𝗰𝗶𝗻𝗴: Moving away from traditional hourly billing, some firms may adopt value-based pricing models, where fees are based on the value delivered to the client rather than the time spent on a case.𝗕𝘂𝗱𝗴𝗲𝘁𝗶𝗻𝗴 𝗮𝗻𝗱 𝗣𝗹𝗮𝗻𝗻𝗶𝗻𝗴: Clients and law firms collaborate to establish budgets and financial plans for legal projects, ensuring costs remain within agreed limits.𝗖𝗼𝘀𝘁 𝗖𝗼𝗻𝘁𝗿𝗼𝗹 𝗠𝗲𝗮𝘀𝘂𝗿𝗲𝘀: Implementing measures to control and reduce unnecessary expenses, such as avoiding duplicative work, using paralegals for lower-cost tasks, and outsourcing non-essential functions.𝗥𝗲𝗴𝘂𝗹𝗮𝗿 𝗥𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 𝗮𝗻𝗱 𝗖𝗼𝗺𝗺𝘂𝗻𝗶𝗰𝗮𝘁𝗶𝗼𝗻: Keeping clients informed about the status of their matters and any changes in cost estimates to avoid unexpected expenses.By adopting a cost-conscious approach, legal services providers aim to deliver high-quality legal support while maintaining financial predictability and efficiency for their clients.Performing well on these criteria will set you apart from most of your competitors in the eyes of your clients.

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Name: Zonia Mosciski DO

Birthday: 1996-05-16

Address: Suite 228 919 Deana Ford, Lake Meridithberg, NE 60017-4257

Phone: +2613987384138

Job: Chief Retail Officer

Hobby: Tai chi, Dowsing, Poi, Letterboxing, Watching movies, Video gaming, Singing

Introduction: My name is Zonia Mosciski DO, I am a enchanting, joyous, lovely, successful, hilarious, tender, outstanding person who loves writing and wants to share my knowledge and understanding with you.