Collections Policy: Past Due Balances, Discounts, and Write-Offs

Collections Policy: Past Due Balances, Discounts, and Write-Offs

As a firm, we must accurately forecast and manage our write-offs. This policy is designed to create a fluid communication tool between the finance team, accounts receivable department, the practicing attorneys, and the Board/CEO (who determine the budget) so that all teams can maximize collections in collaboration to meet budget.


    • Related Articles

    • Past Due Clients (coming soon)

      This article is coming soon! Due Date Receiving Interest Payment Plan Arrangements Collections Write-Offs

    • Insurance Overview

      Legal Insurance Referrals Clients may get referred to us through many different means, but a common referral source is through a potential new client's legal insurance. It is extremely important to identify the type of discount offered by the ...

    • Trust Replenishments and Advance Fee Policy

      Summary Overview To ensure clients and attorneys have the most up to date information about their Trust accounts and advanced fees, Gravis Law created the following policy. Attached to this article is the PDF procedure, or how accounting and billable ...

    • Adjusting Sent Invoices & Changing the Balance Due

      Overview Changes occasionally will need to be made to existing client invoices, or to the clients owing balance as a whole. Adjusting and updating invoices is a finance function   Common adjustments may include:  A flat fee client received an invoice ...

    • Balances in Clever Case

      At A Glance When you view a matter or client, you'll now see a Balances card that details their accounting balances with Gravis Law. If there is trust available, it's split into two general areas: If there is not trust on the account, then the trust ...