Monthly Retainer Billing - CaseFox

Monthly Retainer Billing

This feature is useful when you have a client that pays you a fixed retainer every month and in exchange, you provide a preset number of hours of service at no additional charges.  Hours exceeding these preset number of hours are billed at your regular hourly rates for the case (by the way, you can set different hourly rates of timekeepers for individual cases/matters).  If you don't provide the preset number of hours of service in a particular month, you still bill the minimum retainer to the client. 


To set up a case for this billing scenario -> Click on "Cases (Projects)", select the desired case. On the right side tabbed pane, click on "Other Info" tab. Create a field named MONTHLY_RETAINER and add the field value XXXX (amount of the retainer in numeric format, e.g., 1450.50 or 2500, without any currency sign). Repeat the same process to create another field named MONTHLY_RETAINER_HOURS and enter the number of hours of "at no additional charge" service for the given monthly retainer (that is, how many hours of service you have agreed to provide at no additional charge for the monthly retainer amount).


If the client is paying a fixed amount each month irrespective of work done,  please enter a high retainer hour number (e.g., 1000).  If the client is paying a fixed amount + usual hourly rates for any work done, then please enter the number of retainer hours very low (0 or .1). 


IMPORTANT: You must create invoices for separate months, that is, please do not mix two months into one invoice. The retainer billing will only be reflected in PDF/Word Invoices.

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