Milestone billing is a type of flat fee process where an agreed upon amount is charged upon completion of certain tasks or events. In a traditional flat fee billing, the contract amount would be owed at the start of the case and the client would either pay it in full or agree to paying in installments. Most of the time these installments take the form of a series of monthly payments until the obligation is fulfilled. For milestone billing, the client agrees to pay a set amount at certain stages of the case. The amounts will appear as expenses on the case only when certain criteria is met. How it works is that when that stage is reached, a charge is created for a predetermined amount and reported to the client who then makes payment. For example, a milestone could be the ‘submission of completed packet to USCIS’ which is easy to treat as a milestone because the work product is very tangible for the client.
To use milestone billing, set the ‘bill type’ of the case to [Flat Fee] and select ‘Milestone Billing’ instead of ‘Traditional’. Then go to the ‘Progress’ page of the Matter and review the workflow. If the Case Type of the Matter applied a workflow that included tasks with triggers, then those will already be set for that Matter.
The system will display an icon next to tasks which have a trigger set.
If there are new triggers you want to add, then for each task that should trigger a charge you will edit the task record and check off the box ‘Trigger Charge’.
Some additional fields will become visible in the form for you to enter the amount you want the charge to be and a description of the charge.
When a task that has a trigger attached to it is marked complete, a confirmation prompt will appear asking if the system should create the charge. If yes, then a charge will be created and linked to the task. The charge can be reviewed under the Time & Expense section of the Matter.
The completed task will show an icon and a tooltip indicating that its trigger has fired and a charge was created.