Overview
A "hard cost" expense refers to an expense that is directly related to the production or delivery of goods or services. These costs are typically more tangible and easier to measure and quantify compared to "soft costs."
Some examples of hard costs in a law firm might include:
Rent or mortgage payments for office space
Salaries and benefits for employees
Equipment and technology expenses (such as computers, phones, and software)
Office supplies and materials (such as paper, ink, and toner)
Fees for professional services (such as accounting, legal, or consulting services)
Hard costs are typically more predictable and stable than soft costs, and are often considered to be essential to the ongoing operation and success of a law firm.
How To A Hard Cost Expense
You can add expenses from the Quick Add "+" icon from the top bar navigation.
Click the "+" icon from the top navigation bar
Click "Expense"
Select the Member (Required - auto populated as the currently logged in user)
Select "Hard Cost" from the Cost Type dropdown (Required)
Select Bill Type (Required)
Fixed Rate - You can enter amount only
Quantity Rate - You can enter quantity and rate which will calculate amount
Enter Date (Required)
Select Client (Required)
Select Matter (Required)
Select Vendor (Required)
Enter Vendor Invoice Number
Enter Description
Enter Date (Required)
Enter Quantity (For Quantity Rate)
Enter Rate (For Quantity Rate)
Enter Amount (For Fixed Rate)
Upload Attachments as needed
Click "Save"
Go to the Time & Expenses page clicking the link from left navigation bar. You should now see your new hard cost expense added to the table list.
You can also view all of your charges from:
Time & Expenses page
Client > Charges tab
Matter > Charges tab
Member > Charges tab
If you have any questions, please feel free to contact us.