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What Are Billable Hours? A Guide for Lawyers

Rocket Matter

Why the billable hour matters Reports state that many attorneys bill between 1,700 and 2,300 hours per year , so not tracking all your time accurately can lead to tens of thousands in lost revenue. Second, law firms track the billable hours of each attorney. Six minutes also works out nicely because it amounts to 1/10th of an hour.

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Speed to Lead: What It Is and Why It’s the Key to Your 2024 Firm Growth

Rocket Matter

Performing due diligence on a client matter. Not only do industry-agnostic CRMs lack the customizations needed by law firms, but they often don't integrate with critical tools like law practice management software. The lack of industry-specific features and integrations means more work for busy lawyers. Tax preparation.

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Tax Prep for Law Firms: Year-End Tips

Rocket Matter

Reconcile all your accounts Law firms must reconcile their bank accounts at the end of the year to ensure financial accountability and transparency. This process can be involved, as it requires diligently cross-checking financial records with bank statements to detect any discrepancies or errors. However, the effort is well worth it.

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Better Matter Management in 7 Steps (Plus 3 More for Extra Credit!)

Rocket Matter

Particularly for small and solo practices that must perform administrative tasks while juggling multiple cases, the intricacies of matter management can make or break your business—and threaten even the most diligent attorneys with a case of burnout. But fear not! Get free guide See More

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What Is Legal Time-Tracking Software? (And Why Do Law Firms Need It?)

Rocket Matter

It’s like a personal assistant who diligently notes every minute you spend on each case to ensure you get compensated for all your effort. Get free guide How to Master Your Law Firm’s Time and Billing Lawyers have a heavy workload.