Case Budget/Fee Caps (Max Fee or Max Fee+Cost Cases)
When a new case (project) is created, a budgeted or maximum amount to be charged for the whole case may be entered. You may also indicate that this amount includes (or does not) expenses/cost. For existing cases, this amount may be specified by going to "Cases (Projects)" -> "Edit Case" tab. Entering a zero ("0") would make the case an unlimited fee (normal hourly charges and cost) case.
When you click on "Cases (Projects)" and select a desired case, at the end of the notes listings, CaseFox will display the budgeted or fix fee amount and warn you when your total time and expenses for the case exceed the preset fix fee amount.
There may be two types of fix fee arrangements: 1) Maximum charges including labor and expense/cost (e.g., government filing fees, third party fees, etc.) or 2) Maximum fix labor + actual expenses/cost. Using the "Above Amount Include Expenses" checkbox, you may indicate one of these options.
If total billed exceeds the maximum charges (by option 1 or by option 2 above), CaseFox will automatically calculate a discount to be applied when an invoice is created for this type of cases to bring the total invoiced amount down to the indicated maximum charges.
CaseFox supports entering budget for a project. Under the Cases (Projects) tab, select a case, then on the right side click on the Edit Case tab. Enter "Budget/Max. Charges". Enter 0 for no budget. Budget can be changed later. You may also indicate if the budget includes the out of pocket cost by checking the checkbox.
A real time report may also be obtained by clicking on Billing Report button on the Dashboard. The report will include all cases with budget and indicate balance remaining.
Fix/Flat Fee Cases
For Fix fee billable items, create a case/project as usual and then create just one note (time/expense entry). Do not enter time in the Tenth Hour or Hr/Min. boxes. Enter the flat fee amount in the Total Cost box. Enter detailed description in the Service Performed box. Save.
Create invoice as usual (click on "How To" tab on the home page). The invoice will show the entered time/expense entry as a Flat fee item.
Contingent Fee Cases
It is important to track your time and expenses even if you are not being paid by the client by an hour (e.g., in contingent fee agreement cases). A proper timekeeping will help you if 1) client terminates your services before settling a case, 2) you need to file a motion for attorney fee.
You can enter your time and expenses as if the case is a normal hourly fee case. Please don't forget to set your hourly rates for the case as indicated in the contingency fee agreement.
Under "Clients" tab, select the client and in payment terms, select "Contigency Fee Agreement". Continue generating invoices as if the case is a normal hourly fee case. Click on "Clients", select the client and then select "Invoices" tab. Click on "WriteOff" link against each invoice so that your accounting does not show amount due. When you obtain a settlement or judgment through a trial, go to "Ledger" tab and enter income from this case so that your accounting reflects amount received as income from this contigency fee case.
On case completion, click on "Cases (Projects)" tab and scroll down to the bottom of the page on the right side panel. You will see your billable amount and expenses. You can then distribute the money to the client according to your contingency fee agreement. You may also click on "Settings/Reports" -> "Staffwise Billing Report" to get billable amounts by each staff member in your firm (or your contract staff) and then distribute the proceeds accordingly.