What is a recurring billing plan?
One of the most promising developments for law firm profitability is recurring billing, also known as an alternative fee arrangement.
Consider this: You provide regular counsel or a service to a client. The client could be, for example, a business that needs access to legal advice or an individual who needs estate management. They pay you a set amount of money per month to handle ongoing legal interactions.
The recurring billing feature automates the actual billing and the payment collection simultaneously. If the transaction processes successfully, then an invoice is generated reflecting the fee charged and the payment. You can choose whether the payment will be ledgered to your trust or operating account. It’s set and forget.