Contingency Billing In Time59

March 8, 2018

Time59 can be used for contingency billing, and there are different ways to approach this.

The dead-simple way to do this would be to create an invoice with a single flat rate line item on it for the amount of the fee once it is determined. This is assuming that you will not be keeping track of your hours. The result will be an invoice against which payments can be applied.

The above approach may work in some situations, but suppose you want to 1) keep track of time, and 2) send out monthly invoices to the client showing the time records while the matter is in progress.

To accomplish this you should create a Fixed Amount Project and enter time records using this project. You can initially set the amount of the project to $0.00 and set the Fixed Fee Amount Text field to something like "Contingency" or "TBD". As long as the amount of the project is set to zero the Fixed Fee Amount Text field value will be displayed on the invoice instead of the amount.

You can now send out invoices as often as you need. The amount of these invoices will be $0.00, and the text Contingency or TBD will be displayed.

At the end of the matter, when the fee has been determined, you can edit the project, enter in the actual fee, and produce the final invoice.

If you have any questions or comments about this approach please contact support. I will be happy to discuss anything and amend these instructions as needed.

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Contingency Billing Question and Answers

  • Can Time59 be used for contingency billing?

    Yes, Time59 can be used for contingency billing, and there are different ways to approach this, depending on whether you want to keep track of your hours or not.

  • What is the simplest way to handle contingency billing in Time59?

    The simplest way is to create an invoice with a single flat rate line item for the fee amount once it is determined. This method is suitable if you do not need to keep track of your hours.

  • How can I keep track of my time and send monthly invoices for a contingency fee case?

    You should create a Fixed-Amount Project and enter time records using this project. Initially, set the project amount to $0.00 and the Fixed Fee Amount Text field to “Contingency” or “TBD.” This way, you can send monthly invoices showing the time records while the matter is in progress.

  • What will the invoices display while the matter is in progress?

    The invoices will display $0.00 as the amount and show the text "Contingency" or "TBD" in place of the fee amount.

  • How do I finalize the invoice once the contingency fee is determined?

    At the end of the matter, edit the project to enter the actual fee amount and then produce the final invoice.

  • Who can I contact if I have questions about contingency billing in Time59?

    If you have any questions or comments about this approach, you can contact Time59 support for assistance.

  • Is there any indication on the invoice that it is for a contingency fee?

    Yes, as long as the project amount is set to zero, the text entered in the Fixed Fee Amount Text field (such as “Contingency” or “TBD”) will be displayed on the invoice instead of an actual amount.

  • Can I send invoices multiple times during the contingency billing period?

    Yes, you can send out invoices as often as needed during the contingency billing period.

  • Where can I find more information or resources about using Time59?

    You can visit the Time59 website for a tour, features, testimonials, FAQs, and more resources. Additionally, you can sign in to your account or contact their support for further assistance.