Stop worrying about the new electronic Bill of Costs
The mandatory implementation of the new electronic Bill of Costs may have been put on hold until April 2018 but it still pays to be prepared for its imminent introduction.
Are you ready for Phases, Tasks and Activities? The new Bill of Costs will need to be presented in an Excel format to allow automatic and immediate recalculation of the Bill. In order for this to happen, fee earners will need to change the way they record time ‘in a significant change of practice’ according to The Law Society. This means recording time in 1 of 15 different Phases, then allocating work done within the Phases to 1 of 41 different Tasks and finally into 1 of 10 Activities. This applies to Disbursements too which will also need to be allocated into Phases and Tasks and then further into 1 of 15 Categories.
Sounds scary? Think you have enough to do already? Well, we’re ready and have been for some time. We’ve been working closely with our trusted provider, CostsMaster, to ensure that our software systems are in place and our team are all totally up to date with the new rules. Whether you’re still using old time recording systems or paper files and need help with compliancy before the deadline or if you have already started making the time recording changes but need assistance processing the information into the new format, then let us help.
If you would like a chat about the new electronic Bill of Costs please give us a call on 01992 807935.