Using FastTrack Invoices

FastTrack is powered by LSQ and provides law firms and vendors the ability to receive early payment from your corporate customers.

Benefits:

• Expedited access to cash
• Improve cashflow conversion cycle & lockup
• No commitment, use CounselLink FastTrack as needed
• No traditional banking review or personal guarantees
• Outsource receivables collection and management
• Reduce payment risk.

Prerequisites:

• Your client must opt in to using FastTrack
• You must enroll using the FastTrack link in CounselLink
• You must be approved by LSQ
• Applicable on LEDES uploaded and manually-created invoices only.

Once you have decided to implement and use FastTrack, you must complete the registration process.

The following process must be completed for each client that utilizes FastTrack in order to submit invoices for early payment.

Enrollment

Once the selected client has FastTrack enabled, and it has been determined that the law firm is eligible to participate, law firm users can then enroll each of their offices from the link on the Law Firm Office Profile page.

1. Click on the office name from the Offices tab of the Law Firm Profile page.

2. From the QuickLinks section (left side of screen), click Enroll in FastTrack.

   The link is only visible to users with the role of Partner, Admin, and / or Accounts Receivable Contact.

   

3. From the FastTrack Welcome Page, click Activate Now to continue to the next screen.

4. From the Sign Up screen, complete all banking information and click I Accept to accept the Terms of Service.

   Make sure you see you have successfully enrolled all offices that you wish to participate in FastTrack.

   The Successful Enrollment page displays.

   

   To update bank account information after the registration, click the Enroll in FastTrack link in CounselLink.

To activate, submit LEDES files and designate whether FastTrack is to be used during the submission process.

Paper or PDF invoices do not qualify for the FastTrack option.

Invoice Submission

Once your firm enrolls, you can select the FastTrack option when submitting a LEDES file.

1. Click the +Import Invoice link from the Billing panel on the homepage.

   

2. Complete all fields are appropriate to include all fields marked with an asterisk (*) which indicates a required field.

Note: See this topic for more information on uploading a LEDES file.

3. Click the FastTrack button on Step 4.

   

4. Click Send to Client(s) to submit the invoice for review, or click Save for Later to hold for a later submission.

Invoice View

For all invoices marked by the law firm as FastTrack, client and law firm users will see a notification banner across the top of the Invoice Overview page denoting the status of the early payment request.

This graphic displays three different views of a Invoice Overview page.

 

FastTrack Payments Tab

A FastTrack Payments sub-tab (where payment records are posted) is accessible from the Invoice Overview screen. Any new Payments events are displayed in the History sub-tab.

Law Firm users are able to see an info bubble next to the Approved to Date total which indicates that the approved invoice total is subject to vendor fees based on the early payment.