Legal Bill Review Frequently Asked Questions (FAQs) from Finance & Accounting Teams
Finance teams are focused on cost reduction, budget predictability, and maximizing ROI. This section explains how LegalBillReview.com helps lower legal spend, improve cost transparency, and ensure that every dollar spent on outside counsel reflects real value. With our risk-free, performance-based model, savings go directly to your bottom line—without any upfront costs.
Frequently Asked Questions (FAQs) from Finance & Accounting Teams
Our legal team assigns the cost centers for each legal matter. How does our accounting team know which cost center to record with the payment?
LegalBillReview.com collects the cost-center data from your legal team as an early step in the process. After the adjustments for each law firm are completed, LegalBillReview.com sends your accounting team a Payment Release Statement that details the amounts to be paid on each invoice, along with the correct cost-center code for each payment.
We record the original invoice amount in our accounting system. How do we account for the reduced invoice amount after LegalBillReview.com obtains a reduction?
When LegalBillReview.com sends adjustment statements to a law firm, we send them on a document formatted as a "Credit Memo from Law Firm to Client" and obtain the attorney's digital signature on the Credit Memo. The Credit Memo is attached to the Payment Release Statement we send to the client to advise the client to initiate payment to the law firm. Thus, the client has a signed document from the law firm confirming that the original invoice amount has been adjusted and the client is not short-paying the invoice.
How do we account for LegalBillReview.com's fee?
Most LegalBillReview.com clients record our fee as an expense under the general legal account. Some clients will prorate our fee across the cost centers assigned to the invoices we reviewed in that month's statement. Just tell us which you prefer and we will give you the amounts and the cost-center codes for our fee.
LegalBillReview.com reduces your legal bills to equal the value you actually received. Not every invoice requires adjustment. But our experience demonstrates that, as a whole, there are significant savings opportunities across all of your legal matters, even if they are all handled by a single law firm. Keep in mind that, unlike regular sales revenue, cost savings are 100% profit. And LegalBillReview.com's risk-free fee structure ensures that you profit from the savings we achieve for you.
How does LegalBillReview.com boost our bottom line?
How does LegalBillReview.com get paid?
LegalBillReview.com's fee is a small, fixed percentage of the total dollar amount of legal billing that we review. We back up our service with a performance guarantee, ensuring that you will never pay more than the law firms' original, unadjusted charges – and you’ll usually pay much less. LegalBillReview.com's service is truly risk-free and adds zero net cost.
Won't the law firm just start charging more to make up any losses from LegalBillReview.com adjustments?
They could try, but it wouldn't work. That's because LegalBillReview.com is conducting a detailed, human review. No matter how much "fluff" is added to the top -- whether the bill is 101% or 300% of the true value -- LegalBillReview.com will identify and correct the overcharges. In reality, firms usually charge less once they know there’s a “cop on the beat,” consistently enforcing compliance with billing guidelines and standards. This is a good thing – one of the goals of our process is to change law firms’ billing practices over time, to avoid new overbilling in the first place.