We record our time in order to charge our clients fairly for what we do for them. It follows, therefore, that we should do this properly and accurately. The ways of recording time in Equinox are set out in Equinox Help, and you should make sure you are familiar with them.
What to Record:
There are two broad categories of time to record: chargeable time to be included, if possible, in an invoice; and time spent on business development of one form or another. Currently, we are only recording chargeable, or potentially chargeable, time.
(Retained in case we change the policy) “Business Development” can take a number of different forms. It can include:
- talking to prospective new clients, by telephone or in an initial free meeting,
- networking
- writing material for the web site
- preparing/updating fact sheets and standard letters,
- one-to-one training or attending approved courses.
You should not include wording as a note to someone else, for example: “PROSPECTIVE”. Record all such time as if it will be billed. We will then take a view at the appropriate time whether it should be invoiced or written off, so do not record time as non-chargeable unless it can be properly described as “Business Development”. Do not record time spent on anything other than chargeable matters or business development. We do not need (or indeed want) to record what you do in your own time!
When recording chargeable time, always use language that would be appropriate to appear on an invoice, because under our system, it is most likely to. Thus, for example, you would not say: “sending an e-mail to Mr Smith”, but “Advising Mr Smith by e-mail on (the current status of the application) (or whatever)”. Bear in mind always that what we sell is our professional knowledge and expertise, NOT time spent on clerical matters. Suitable phrases to use include:
- Telephone conference with Mr Smith advising on (say what you were advising on);
- Studying examination report and reporting to you with our recommendations;
- Studying documents and drafting grounds of opposition;
- Considering letter from opponents’ attorneys and advising thereon;
- Attending conference at your office to advise on …..;
- Advising in conference on….
If in doubt, think about how you would react if you received an invoice with the wording you propose – would it seem to you to be something worth paying professional fees for? The other question you need to ask yourself is: if I cannot describe in an invoice what I am doing as chargeable professional work, should I be doing it, or should I pass it to an Administrator?
Back to General Company Policies
Last Updated on 22 November 2023 by Keith