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Billing and fees - managing financial arrangements with clients


Data Law Limited

Summary

Price
£96 inc VAT
Or £32.00/mo. for 3 months...
Study method
Online, self-paced
Duration
1 hour
Qualification
No formal qualification
Additional info
  • Tutor is available to students

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Overview

Learning Outcomes

  • On completion of this course you will:

    • Have considered the various ways in which you can quote and bill the client
    • Understand that fixed fees, properly integrated with an efficient business system, will mean that you may end up with a higher hourly rate rather than a reduction.
    • Receive practical tips when quoting prices and at the billing stage
    • Be able to identify if a client’s case is being effectively managed – this will involve recognising if the right person is doing the job or whether the role could be outsourced
    • Know when it is appropriate to up-sell

What is the target audience?

  • This course will be of interest to practice managers, partners and employees who would like to understand how to bill clients successfully and thereby successfully manage financial relationships.

Description

Today solicitors run a business. Solicitors sell their knowledge as time – Time is a valuable commodity but only if you value it correctly.

Businesses need to make a profit but they must also comply with mandatory outcomes and "sound financial management," so effective client fee management is essential to ensure both increased turnover and profitability.

During the course, experienced lecturer Sue Edwards will offer viewers with practical guidance on how to determine the correct fees to charge and how to approach the billing of clients, as a well drafted bill that fully focuses on what the client wants and needs to understand will reduce the likelihood of a complaint about the bill.

Whilst this course will be of particular relevance to the private client, with changes to legal funding this will become increasingly applicable to all client dealings and will discuss the pros and cons of quotes versus estimates and fixed costs versus no fixed costs

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FAQs

What does study method mean?

Study method describes the format in which the course will be delivered. At Reed Courses, courses are delivered in a number of ways, including online courses, where the course content can be accessed online remotely, and classroom courses, where courses are delivered in person at a classroom venue.

What are CPD hours/points?

CPD stands for Continuing Professional Development. If you work in certain professions or for certain companies, your employer may require you to complete a number of CPD hours or points, per year. You can find a range of CPD courses on Reed Courses, many of which can be completed online.

What is a ‘regulated qualification’?

A regulated qualification is delivered by a learning institution which is regulated by a government body. In England, the government body which regulates courses is Ofqual. Ofqual regulated qualifications sit on the Regulated Qualifications Framework (RQF), which can help students understand how different qualifications in different fields compare to each other. The framework also helps students to understand what qualifications they need to progress towards a higher learning goal, such as a university degree or equivalent higher education award.

What is an ‘endorsed’ course?

An endorsed course is a skills based course which has been checked over and approved by an independent awarding body. Endorsed courses are not regulated so do not result in a qualification - however, the student can usually purchase a certificate showing the awarding body’s logo if they wish. Certain awarding bodies - such as Quality Licence Scheme and TQUK - have developed endorsement schemes as a way to help students select the best skills based courses for them.