Timekeeping Glossary
Billable Hours
Billable hours are units of professional work that can be charged to a client under an engagement agreement.
LEDES
LEDES is a family of legal electronic data exchange standards used to submit legal invoices in structured formats.
Realization Rate
Realization rate measures how much recorded billable value is actually billed or collected.
Shift Swap
A shift swap is a schedule change where one employee trades or transfers an assigned shift to another employee, often with manager approval.
UTBMS
UTBMS stands for Uniform Task-Based Management System, a set of legal billing task, activity, and expense codes used in electronic billing.