LEDES 1998B Billing – Don’t Be Afraid!
LEDES 1998B billing can be intimidating. But, in this blog, I’m going to walk you through a few steps and you will see that it is not as scary as it seems! It is very similar to regular billing. You only need to add or change a few steps.
LEDES format is used for electronic submission. If you are a firm that is asked or required to submit in LEDES, follow these steps to set up LEDES in Abacus Accounting (the companion accounting program for AbacusLaw) and then generate your bills.
Configuration Steps – One Time Only – Set It and Forget It
- Select Workstation Options (File > Setup > Workstation Options)
- Verify TBB billing format code settings (File > Setup > Billing Format Codes)
- Assign a task based expense code to the client expense code (File > Setup > Client Expense Code)
- Set up seniority levels for timekeepers (File > Setup > Timekeeper Codes)
- Configure the matter (Matters > Matters)
- Link activity codes to task based billing codes (File > Setup > Activity Codes)
NOTE: This is optional.
Running LEDES Billing
After configuring for LEDES billing, perform the steps in the normal billing cycle, but note the following specifications:
- When you enter time tickets, enter the activity code and task based billing code.
- When you print the bill, set the Destination to LEDES 1998B.
- When you click File to generate the bill, choose where you want to store the LED file.
Understanding LEDES 1998B Billing Output
LEDES 1998B billing produces two outputs: the actual LED file and a PDF version of the LED file.
The actual LED file is stored in the location you designated when printing the bill.
The PDF version of the LED file is generated and posted in Matter Billing Detail. To access the PDF file, select Matters > Matter Billing Activity. The Matter Billing Detail window appears. Select the matter and click Show Bills.
This blog is just a crash course in LEDES 1998B billing. It was written to introduce you to the feature. For more detailed information, as well as a full, line item description of the LED file structure, refer to Abacus Accounting help.