Why you need this model tool:
No firm can support even an excellent attorney who isn’t profitable. Superb skills alone are not enough. Each attorney has to bring in a profit, and the numbers show in plain dollars and cents what profit each attorney is producing.
How this model tool helps you:
This simple chart tracks the monthly and yearly profitability of each attorney.
It lets your firm see which attorneys are most profitable and which clients are most profitable. It shows if the rates for each type of matter are set correctly and even if it’s worth your firm’s time to take on certain types of clients.
How to use this model tool:
Refer to this article on how to complete the spreadsheet, which already includes the formulas discussed in the article. Customize it to suit your needs and use it at your law firm to track the profits of each attorney.
