Tracking Time for Potential Clients

Hello Group,  How do you folks keep track of time spent by the attorney when developing a new client that may or may not actually materialize?  I was thinking first of making the potential an Overhead client but testing that theory did not work as hoped.

Then I've experimented with setting up a client called Client Development and using References thinking I could later turn the Reference into a billable client or simply close the Reference.  I can't seem to get that to work quite right either.

Rather than reinvent this wheel, what have y'all found to work for this situation?

Thanks much.

Mary

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  • 0

    Lots of firms will set up a PNC (Potential New Client) account to track the time.  If the client signs up, we transfer the time to the new client record so that it will be a complete history of dealing with the new client. If they don't then I usually periodically clear the account by Do Not Bill(ing) the time and approving it off. 

    What about the Overhead Only is not working for you?

    Nancy Duhon, Esq.
    Duhon Technology Solutions, LLC
    Master Certified Consultant for Sage Timeslips
    Providing individual Consultations and Third Party Remote Desktop Support - including older/unsupported versions.
    404-325-9779
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  • 0 in reply to Nancy Duhon

    I've thought about your PNC idea and like the simplicity of PNC-Smith Inc.; PNC-Jones LLC; etc.  Using References or Overhead Only just complicates the issue.  If the client, Smith Inc. for example, goes live we just remove the PNC- and carry on.  Sometimes I can really over-think something.  Thanks, as always, for the help.  mm

  • 0 in reply to Mary McPadden

    That could work too. I guess it depends on your conversion rate. If most of them end up going live, then just create a client record, and put the PNC in front.  

    I tend to know pretty quickly if they are going to go live, so don't create the client record until then and accumulate the PNC stuff in a single client and transfer what I want. But I usually only have like 2, maybe 3 entries before I know, so it is not that hard to transfer.   I also just make them billable to start with, and then mark the dead ones DNB, so less editing when they go live.

    But you could go either way on that one.

    Nancy

  • 0 in reply to Nancy Duhon

    Yes, making only one PNC client makes sense if you know how the client meetings are going.  I'm just the accounting dept and the atty wants me to track his time on all his interactions so I think individual PNC's might work best.  I can change that later if I start to get billing info from the atty more timely......yeah sure.

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  • 0 in reply to Nancy Duhon

    Yes, making only one PNC client makes sense if you know how the client meetings are going.  I'm just the accounting dept and the atty wants me to track his time on all his interactions so I think individual PNC's might work best.  I can change that later if I start to get billing info from the atty more timely......yeah sure.

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