How does the billing work?
The lawyer raises an invoice by inputting the details into Keyed-In, our bespoke intranet platform, and the invoice is created by the Finance team. A copy of the invoice is emailed to the lawyer, together with the related Fee Note, which sets out the amount which the lawyer is due for the work. The invoice is then emailed to the client.
When a client pays their bill, how quickly do I get paid?
The Accounts team settles Fee Notes within two business days of receipt of cleared funds, but they are almost always settled the next business day.
How are rates determined?
Keystone lawyers will typically adopt the rates they charged at the firms they joined us from; however, they are free to change this if they wish. Once set, their ‘default rate’ is published internally, so that colleagues can see what they would charge on any referred piece of work. Keystone lawyers are entirely free to carry out set pieces of work for fixed fees, or to work for clients on a retainer. They are also free to discount or increase their normal rate to suit prevailing circumstances.
Click here to find out more about how charge-out rates work at Keystone.
What if I want to write off time?
You have complete control to write off or omit to bill your own time as you judge appropriate. You will need a colleague’s consent if you want to write off their time on a matter for one of your clients.
How does debt collection work?
We operate a structured credit control process, designed to improve the speed of cash collection without affecting your relationship with your clients. Our Invoicing team operates a highly professional debt collection process, which usually proves effective, but Keystone lawyers are free to opt out of this process at any time.
If you have any questions regarding your circumstances, which are not covered in the above, please contact us on 020 3319 3700 or click here to fill out our contact form.