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Storing Retainer info in TimeMatters/billingmatters

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Jennifer Ahrens Posted: Thu, Jul 22 2010 10:44 AM

Hi, Looking for any suggestions on how to store and manage retainers in TimeMatters. We need a way to see how much is in the retainer for a particular matter and then see if the billable time has eaten up the retainer and/or how much is left as work is completed on the matter. Are there any flags or alerts that can be set up once there is no retainer left or if the retainer has dipped below or a certain level? Or are there any alerts that can be set up indicate if billable hours have exceeded a certain amount? Any help is appreciated.

J Ahrens Collen IP Ossining, NY TimeMatters/BillingMatters 9.0 Enterprise SR3A Windows XP Professional Version 2002 Service Pack 2 MS Office 2003 SP3
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I don't know any way to get an alert when billable time > x hours (or when billable time > $retainer).  But this idea might at least get you partly there:  Add a column to your Matter List that shows the Fund1 Balance (or Fund2, whichever you use for retainer fees) along with a column showing Billed Fees.  (This is easy to do:  With your Matter list open, right-click on any column heading and select Edit Columns (or is it Add?) and select the columns you want to add.  

You may even want to make a Quicktab that has these columns, since most of your users don't necessarily need that info and you may not need that info all the time.

Unfortunately, as far as I know there is no quick way to show work in progress on the Matter list.  So if mid-month you reach or exceed the retainer fee amount, this will not help you.

-Micah

-Micah Salb Lippman, Semsker & Salb, LLC Bethesda, MD (301) 656-6905 TM/BM8+
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