Category: :aw Firm Billing Information

25 Sep

4 Steps to Make Time-Billing a Habit

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4 Steps to Make Time-Billing a Habit

 

No lawyer needs a degree in Accounting Law to understand the importance of being paid on time. A law office is a business, and should be run with business-like precision or all the clients in the world will not make ends meet. Modern technology like apps and older programs like legal billing software can be a good solution for a law firm looking to update its accounting books into the 21st century, but there are additional habits one can develop around time-billing to make the entire process go seamlessly from start to finish.

The Top Four Steps to Make Time-Billing a Habit

  1. Keep On Top of the Clock All Day Long
  2. Be Specific and Descriptive in Your Entries
  3. Be Familiar with Client Guidelines
  4. Choose the Right Law Firm Billing Software for your Company

1. Be Punctual About Punctuality

If you fill out your timesheet at the end of the day, chances are you would have already forgotten times or steps from the morning. One of the most important time-billing habits any lawyer can get into is to enter the times into the legal billing software as soon as the activity is done – not when the day is done. It only takes an extra minute or two at most when done punctually, versus being a long, time-consuming task at the end of the day.

2. Be Specific and Descriptive in Your Entries

 

Your legal billing software should have spaces for entering what you did and a brief description of the task. The more specific the entries, the easier it will be to document the what, where, when and why if there are any questions regarding the time usage later. (See #3). Some lawyers and clients perceive the billable hour as an excuse for not being productive with time, so this is the time and space to prove how effective one can be in each segment of time. The best descriptors will explain what you were doing during that span of time, and why you were doing it. If doing research on a statute of limitations, mention the statute and how it relates to the case in the fewest words that still convey the importance of the activity. Anything too short or too long can cause confusion over what was actually happening during the time-billing session.

3. Be Familiar with Client Guidelines

The law firm billing software does not just exist to get a law firm paid. It also gives every lawyer in the firm the chance to show how much they care about the client’s goals, rules, and requirements by entering information correctly and being specific about how their client “spent” their money. When a law firm demonstrates consistently that they understand and can adhere to time-billing guidelines, then they have the chance to build a long-term, loyal base of clients who will generate additional revenue in future both through personal engagement and referrals. Not only will inaccurate entries or those which go against the billing guideline codes cause dissatisfaction, even if the client remains with the firm all future time-billing submissions are likely to receive tighter scrutiny and less wiggle room.

4. Choose the Right Billing Software for Your Law Firm

 

Any habit is more easily formed when it does not take too much time or effort to get into. There are a range of options when picking out legal billing software, many of which offer an integrated program where time can be entered, sent to accounting, and reviewed by clients all in a smooth, step-by-step performance that cuts down on errors and speeds up the time-billing process. Some subscription-based services will offer monthly plans that are affordable for smaller law firms, and discounts for larger firms with deeper up-front pockets who can pay for several months in advance. When the program is easy to understand and works with the firm, instead of being an irritant during a busy day, it is more likely to be used and accepted by everyone. That is why good time-billing habits are often helped by the right software to back it up.

The LII

The Legal Information Institute is a non-profit group that believes in making the law understandable and accessible to everyone. They use technology and the internet to make it so you do not need a fancy law degree or an advanced diploma in legal project management to understand what the law is and how it may apply to projects, businesses, and life.

22 Sep

A Lawyer’s Guideline to Legal Billing

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How Should You Bill Your Time?

The most important thing to recognize as a prestigious law firm in a New York City Law Department is for your legal team to know how to bill your time. That is the only thing that will indicate the manner in which the law firm billing software department will be able to invoice a client and save money. It’s always a good thing to follow guidelines for legal billing software and many law firms use software for that purpose. To track and take the time to properly bill clients is an important and significant part of being successful.

Partners, associates and paralegals, as well as the support staff in the litigation department all have specific guidelines to follow for their time. These are set in six, ten and fifteen minute time increments and all are based on the type of case and client involved.

These days’ clients are more computer literate and when bills increase they need to examine their selections for carefully regarding who they will hire for their legal billing software representation. Some clients go as far as using their own methods and law firm billing software to calculate many of the bills they receive. They sort and analyze their billing data using a variety of high tech application law firm billing software for these purposes.

Block Billing

For clients block billing is recognized as being a way of disguising a billing system that is inefficient and slows down the refunding to the firm. Many courts do not permit block billing because they know that it will hinder the reimbursement of the fees that the attorneys are supposed to receive once the judgment has been set. Separate billing for each itemized product is the best way to provide your invoice.

Electronic Billing

Frequently these days electronic billing has become a subject of scrutiny and dispute due to the carelessness of some firms who rely solely on software to do the job of what used to be the duty and function of the accountant. Time entries that are prompt and accurate still need to be supervised and overseen by a human versus a machine.

Invoices need to be drafted well and the descriptions given must be in great detail in order for the client to feel compelled and convinced to pay their bills on time and with much trust and confidence. The merit of the task will surely be reviewed and the job carried out will be gauged and compared every time to other such legal matters. Brevity of details has never served its purpose when billing clients who will be expected to return as satisfied customers.

Time Recording and Audience

Accuracy in timing is ensured when it’s registered right after the task has been completed. It’s difficult to try to remember the time for each task if it is not registered right away and prompt time-keeping has been recorded. Some firms require that the task that is being performed be written down, possibly in a notebook and then recording it each day or week at night or during the billing period.

The audience you are serving is very important especially when you record the time. As we already discussed previously there is an in-house council although no particular person has been appointed to serve in that capacity. Invoices are processed by several people both inside and outside corporations through third party auditors and legal professionals.

When recording the time, it is best not to use slang and too many abbreviations. Legal and concise terminology should be used in the billing since the time sheets your firm provides will be reviewed by people who are not familiar with legal terms. This may include accounting personnel and third party auditors.

What Are the Billing Policies?

Every client has an engagement letter, also known as a retention form. These will have budget guidelines, guidelines for timekeeping, as well as limitations for staffing and disbursement. There is task-based billing that is becoming a more common type of billing policy. It will track the litigation task well in advance and will record it for the client. In depth the client policies will be looked at and analyzed as time goes by more people will be looking for that type of sandal or shoe. The client billing tasks are client-specific with policies that can be applied using the particular billing code where no swipe or equipment is required.

A lawyer’s guideline to legal billing involves the approval of different types of invoices. The invoices should be sent and approved by all parties. That way invoices can be submitted on a monthly basis. The details of the work should be listed and made available to all Board members within a 30 day period once the services have been rendered. Make sure the statements sent from your firm for the legal services provided have supporting documents that can be used during the client legal billing process.

21 Sep

4 Tips for Effective Invoicing

4 Tips for Effective Invoicing for Legal Firms

Both small and big business owners are expected to keep their businesses running, and the only way to achieve this is by maintaining a steady cash flow. It is possible for a law firm to miss payments if they fail to invoice clients. Although the invoicing process can be very complex, any business that does not have a proper invoicing platform is bound to incur massive loses. The New York City Law Department is one of the many law firms that have already adopted the use of modern invoicing platforms when it comes to legal billing. An effective invoicing process guarantees business mangers a peace of mind, and at the same times makes things easy for the client.

Invoices are normally sent to customers or clients as a bill of payments they are supposed to make as a result of the provided goods or services. An invoice indicates the service rendered or supplied product, the amount of money to be paid, and the expected mode of payment. The invoicing process is normally done by the accountants, but small business owners do it on their own. An organization’s invoicing process determines whether they will receive payments within the stipulated time or not. Law firms are classified as business entities, and are also expected to have an effective billing system. Modern law firms have adopted the use of Legal Billing Software that makes it possible for the firms to generate invoices within the shortest time possible. Apart from that, such a software enables a law firm to track time and expenses, provide detailed payment reports, provide retainer alerts, and at the same time locate unbilled expenses. The following are four major invoicing tips that can be adopted by law firms or other businesses:

Automating the process

As mentioned earlier, it is important for both small and large legal firms to set up a Legal Billing Software as a way of automating their invoicing process. The software has invoicing capabilities, and firms can sign up for any of the many available platforms to improve their invoicing experience. In addition, cloud invoicing applications are very effective in securing billing information. Apart from reducing invoicing costs by more than 50%, invoicing software reduces mistakes. The legal department at the University of Georgia has also experienced an improvement in its legal billing process after adopting the Legal Billing Software.
Sending Written Quotes

Before delivering a particular service or product, it is important to send a client some written price quote as it helps to manage their expectations. The written quote should include the estimated cost, and the preferred mode of payment. Before accepting the order, one must ensure that the client has accepted their terms and conditions.

Use of Polite Language

It is possible to increase the chances of being paid by using polite language “thank you for doing business with us” or “please remember to pay on time”. Customers that pay early or on time deserve to be sent thank-you emails or notes because it helps in maintaining a business relationship. Moreover, it is a good idea for businesses to remind customers of their desire to serve them again and some of the new products or services they are offering. Building a strong relationship with customers increases the chances of a repeat purchase or a referral.

Including all the Pertinent Invoice Details

It is always easy for clients to pay promptly if the invoice includes all the pertinent details. Each invoice should include all the essential details because it eliminates delays that are caused by incomplete information. There are some clients that pay attention to detail, and cannot give out any payment if some information is not available. Some of the most important details that must be on every invoice include:
 The invoice ID number
 The amount charged for a service or product
 The related taxes and additional charges
 Details of the service or product provided
 The client’s name and address
 Company Information
 Expected date of payment
 The preferred mode of payment
 The preferred currency
It is always a big challenge for law firms to keep track of all the details, and that is why a Law Firm Billing Software is necessary. A Law firm that wants to keep their invoice data in an organized manner should change from manual invoicing to automatic invoicing. Law Firm Billing Software guarantees flexibility and accuracy in keeping invoice data. In addition, it becomes very easy to retrieve an invoice or any related data if there is a Legal Billing Software.
20 Sep

Tips on How to Discuss a Trust Balance or Retainer Payment with your Client

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Tips on How to Discuss a Trust Balance or Retainer Payment with your Client

The legal profession has its own terminology – legalese – which might be confusing to the regular person. For example, what is a trust balance or retainer payment? Here are tips on how to discuss these legal terms with a client.

Explaining Legalese

Attorneys are usually involved in many different activities. Court cases can take years to complete and it can take a lot of work to gather evidence. Here are just a few of the many functions, which lawyers perform:

  1. Court Defense
  2. Mediation
  3. Representation
  4. Trusts
  5. Collections

Lawyers need to balance their schedules and prioritize all of these activities for the best effect.

Long Court Case

When an attorney takes on a client, he will estimate how long the relationship might last. Of course, if there is a court case, he really cannot adequately calculate how long the case might last. There might be extensions, special hearings or the court calendar might simply be filled up. The successful lawyer will try to assess the time frame, but it is only an estimate.

Billing Software

Once you start working on a case, you can enter the bill into your database. Thankfully, you don’t really need to try to calculate all that clients owe, by hand anymore. When you purchase the right LAW FIRM BILLING SOFTWARE, it does it for you. This LEGAL BILLING SOFTWARE frees up time, so you can spend more time growing your law firm.

Automate Bill Reminders

Of course, your clients lead busy lives. They might forget a payment. Be pro-active and use LAW FIRM BILLING SOFTWARE to send out reminders. The dentist sends out helpful reminders for teeth cleaning, doesn’t he? The best LEGAL BILLING SOFTWARE can improve your customer service, business reputation and financial bottom line.

Attorneys as Trustees

Attorneys are regularly identified as trustees due to their understanding of the law. They can also usually identify solid legal tax shelters and other types of legal structures that can be useful for accomplishing different purposes. They can also draw up the required documents easily enough to establish this new legal trust arrangement.

Trust Balance Payment

When an attorney performs any functions on behalf of his client, he can simply charge the trust with the bill. Then, he could use his LAW FIRM BILLING SOFTWARE to send his client a friendly reminder. This can ensure that there won’t be any late payment penalties. The attorney gets paid and the client gets legal services – every one wins.

Categorize Court Cases

When you have many different legal tasks on your docket, it can be difficult to keep track of everything. That is when a Differentiated Case Tracking Program can be quite useful. Set up its calendar to remind you of important due dates. You can use it to record all of the notes for each case. Then, simply search by the case number and you are good to go.

Legal Services Down Payment

You need reservations for a 5-star Michelin restaurant, right? You need to place a security deposit with your apartment complex, right? Therefore, your clients should not be so surprised to pay an upfront retainer payment as down payment for your legal representation.

Nothing is Free

The beauty of the retainer payment is that it can satisfy so many needs. It ensures that the client is serious about his case. It gives the attorney some money in his pocket to pay for investigations. In some ways, it is like paying a house contractor to buy the fixtures you want in your new home.

Retainer Payment

The retainer payment can go towards any legal billable hours. The best LAW FIRM BILLING SOFTWARE can be used to track payments, such as these. This allows you to concentrate on customer service. With Harvard Law School Case Management, you can enjoy management of your contacts, clients, cases, projects, docketing, calendaring, scheduling, documents and billing.

Free Legal Advice

For those who might need some free legal advice, The Legal Information Institute (LII) is available. This non-profit, run by the Cornell Law School provides no-cost access to legal services. Once you explain the legalese to your clients, they will understand the reasons for these billable hours. Trust balance or retainer payments are part of the legal process and can be best tracked using LAW FIRM BILLING SOFTWARE.

19 Sep

6 Ways to Ensure You’re Getting Paid on Time

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1.) Work agreement

When you are first agreeing on the scope of work that needs to be done with the legal billing software, it is very important to make sure that you state all of the costs involved in the work and the terms of the methods of payment on the contract. Therefore, you will need to ensure that the client is going to agree on these terms before the work is started. This means that you are not going to have any problems getting payment from the client once the work is done. But if there are any issues, then you will have proof of the agreement so that you have a good case.

2.) Multiple payment methods

It is very important to make sure that you are open to accepting all of the different forms of payment. This is one of the main reasons why you might have problems getting payment from your clients. But your clients are not going to have any problems with you take all of the credit cards, cash, or check as your forms of payment. You can also take Paypal because so many people are now using it since Internet access is everywhere. You want to make sure that the clients are going to have less excuses for paying their bill through the law firm billing software.

3.) Upfront payment

A lot of lawyers are now getting the deposit upfront for the work that they are planning on doing. You could also set up a payment scheme for your clients. This means that you are going to be taking a proportion of the money before the work is done. This is one of the most effective ways of making sure that you get all of your money but you can still set boundaries with your customers. When there is a smaller balance due when the work is done through the law firm billing software, it is going to be a lot easier for the client to make the payment.

4.) Payment terms

It is very important to make sure that you are sticking to all of the terms of your payment plan with the legal billing software. If the client does not pay the money that they owe you within the time limit, then you need to follow through with all of the conditions of the contract. Therefore, the invoices need to state when the money is due and what is going to happen with the payment is delayed. Most of the time, it means that you are going to charge interest, report them to the proper people, and take legal action if you need to.

5.) Prompt Payment Code

Before you do any work for the client, you need to sign up for the prompt payment code. The code is going to allow the business to build a strong relationship with the customers with the South Dakota Odyssey Case Management. Therefore, they are going to be confident that you will be paid for the work that you have done. The code is set up through the Department of Business Innovation and Skills for the UF LAW TO SURVEY LEGAL PROFESSION S.

6.) Invoice finance

Lawyers are now choosing to use the invoice finance, which is a solution for the company that might be struggling with late payments from their clients. It lets you to get access to the money you need as soon as the invoice is issued to the client. Therefore, you are going to have cash flow at the end of the month. It is important to make sure that the legal assistant that is helping you actually has a legal assistant certificate so that you know that they can help you with your clients and the money that they owe you. Plus they will need to know how to use the legal billing software for you.
18 Sep

How Creating Goals for Your Legal Billable Hours Can Maximize Your Profit

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What Do Lawyers Want?

The ultimate goal of every lawyer besides setting the state in peace is to make money and attain a stable financial life. To achieve this; it’s important to have a strategy. One of the things that you need to be keen on is the billable hour. Firms make money by billing their clients per hour. The more billable hours a firm has, the more revenue it gains from its customers. The billable hours not only benefits the firm but also boosts the salary of the employees.
The emphasis of billing hours varies from one firm to another depending on the category of the law firm. For example, government and public based law firms do not apply the billable hour because they do not bill their hours to pay clients. Similarly, small companies and public interest law firms concentrate on other factors like community development, training, etc. The billable hour is not applicable to them.
The law firm billing software is therefore important to a majority of the enterprise. It plays a vital role in the company. The legal billing software organizes budgets, time and client billing. If you use guess method to evaluate your billable hours; you should consider getting a law firm billing software.

Features of a Law Firm Billing Software

• Time tracking
Time tracking assists in avoiding time wasting. Stop watches are applicable as their timing is accurate. Billable time can be measured in different aspects. For example, it may be measured on a transactional fee, contingent fee, firm wide or individual fee depending on the firms’ preference.
• General Ledger
The financial part of the law firm is very critical. It is one of the major departments of the business. If not well-taken care of, the company may end up making losses that may be serious the extent of closing up. It is therefore important to keep invoices, vendors, and payments.
• Trusting Accounting
This account is set aside to manage the funds of clients who have paid for the services that have not been offered. This avoids the inconveniences of being unable to support the project when the right time comes. Mismanagement of the open account may brand a law firm as untrustworthy which could lead to significant withdrawal from other clients and also discourage new customers from signing up with the company.
• Bill Preparation
This assists in preparing invoices for clients for the services offered. This is done through the use of the company’s billable time records. Some firms have their customized way of billing their clients e.g. by converting the recorded sessions to pdf and sending them to complement the statement via email.
• Work with other programs
To make the legal billing software more convenient; you can incorporate other programs in the software. Such programs include; Microsoft outlook, personal digital assistants, and QuickBooks. This programs are compatible with the software and can be used in sharing of data.
Accounting Law
Accounting is the process of evaluating financial information to know whether a loss or profit was incurred in a transaction and by how much. Accounting regulations knowledge can be used to solve problems in law courts e.g. by determining the extent of damaged assets or the amount of compensation a client should get.
The forms of accounting that are famous in a legal setting include;
• Cash. This kind of transaction is only viable where an actual monetary exchange has been involved in the form of liquid cash.
• Completed Contract. This is applicable where a long term business agreement has come to an end. This type of treaty determines whether losses or gains were made within the period of the contract and by how much. Here the revenue and gross income are considered in the tax year of contract completion.
• Accrual. This kind of accounting takes into consideration all forms of transactions of income gained and the expenses involved in a contract for a period without making an allowance for the fact that some of this transactions may not have been received or paid during the calculation period.
• Installment. This time of accounting is used by regulated utilities to establish the depreciation rates for taxation purposes
Accounting regulation is, therefore, an important branch of the law firm. Many lawyers have undertaken both the law and accounting education. When vetting candidates, it is advisable to hire the candidate who can play the two roles to save on the labor cost. You may consider students from the University of Georgia; given that it produces very qualified candidates.
It department for the law firm 
With the dynamic changes in technology; more and more transactions and sessions are taking place online. It is, therefore, crucial to take care of the software essentials for the law office. This involves computer projects that boost the employees on their computer skills to ensure they remain on track.
17 Sep

How to Ethically Bill and Collect Fees

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How Do You Ethically Bill And Collect Your Fees?

Legal billing software is an excellent resource you may use at any time, and you will find that it gives you many options to organize your business. There are many people who are hoping to run their law firms in a much better way, and this article explains how you may use law firm billing software to your advantage. You may handle money, accounting and other resources through one program. The Legal Information Institute recommends this, and they are happy to see their disciples make these wise choices.

#1: How Do You Organize Bills?

You must bill all your clients for the time you have spent with them, and they must receive an invoice that will be quite detailed. Using the legal billing software will ensure that your have all the proper information in their account, and you will feel much more confident knowing that you may use this information to your advantage. You may scan each account to see how much has been done, and you will learn how to give your clients equal time.

#2: How Do You Send Bills?

You may send bills to your clients any time you like if you are using your time wisely, and you will find that there are many bills that may go out every day. You may send bills to an email address, and you may send notifications to your clients through many means. They will be pleased to pay you when they are given proper notice, and this will be much more professional than sending a random letter in the mail.

#3: The Billing Procedure

You will bill your clients for their time, and they will pay you based on what they see. They will pay you through the online program that has been created by the legal billing software, and they will pay you much more quickly as a result. It is much easier to use the law firm billing software to get the proper results. Someone who is billing often must give their clients an online place to pay that saves everyone time.

#4: Improving Cash Flow

The cash flow that you have in your office improves the moment you are using this information, and you will find that the program lets you track who has paid and who has not. There are many different things that you may do to increase cash flow which may include billing clients who were once pro bono, or you may send second or third notifications to ensure they will pay. It is important that you have checked on the clients who have not paid yet, and you may send them a gentle reminder through this program.

#5: The Program Helps With Accountants

You must send all your information to an accountant or program, and you will find that you may send the exact information you have when you are using this program. It is much easier for you to send all your reports and documents suing the secure server, and you will find that your finances are organized much more quickly. You have an accountant who will use these documents to give you services, and they will ensure that you are receiving proper services based on the information you have provided. It is important that you have taken the time to enter everything into the program to help your clients understand what is going on.

#6: Tax Time

You have taxes that you must file every year, and it is important that your taxes are filed properly before the end of the year. Someone who has not filed their taxes yet must pull all their information from the program, and they will find that they may start the beginnings of a return if they need. The program organizes all the different parts of the ledger for the tax return, and the reports may be printed easily once you are ready to prepare the return.

There are many people who need a billing program that will help them manage their law firm, and you will find that you have a number of new options if you are willing to use the proper software. You wil bill your clients ethically, and you will avoid problems that you have had in the past. You will keep your information in one secure place for further use, and you will avoid any miscalculations. Your clients will pay more readily, and you will feel as though you have been given the best financial services for your practice.

16 Sep

6 Tips to Keeping Track of Fees for Different Legal Clients

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6 Tips to Keeping Track of Fees for Different Legal Clients

As a lawyer, you need to get paid for your time and effort with clients. It is important that you take excellent record of your time with clients. You also want to have a clear and concise billing method in place so your clients know what you have billed them for and for how much time. There are several ways that you can make your law billing needs easy and affordable. Let’s take a look at some easy ways for you to help getting paid in the practice of law.

Law Software

Law Firm Billing Software is probably one of the best and easiest ways to bill your law clients. The software has been set up to for your lawyer billing needs. Most of the Legal Billing software has been created while consulting lawyers. This way the details and short cuts are geared directly towards lawyers use. There are several Law Firm Billing Software programs out there on the market. You want to do your research and buy the highest rated Legal Billing Software. Why make your life more complicated by having a difficult billing system. Buy a Law Firm Billing Software today and start making getting paid easier. Here are some of the reasons why software is the way to go.

-send directly to the client

-an assistant can keep track for you

-you can have a copy of the fees for yourself and your client

-it is does not take up room in the office because everything is stored in the computer.

Assistant

Another great way to keep track of what your clients owe you is by having an assistant. You can actually have the assistant use the law firm billing software and make her job easy as well. You will have to be in communication with your assistant so that all the proper hours are recorded as well as legal expenses. By having an assistant, you can tell her what needs to be done so you can focus on the more important details of your job. If you can find a legal assistant who has a Legal Assistant Certificate, this assistant will be more qualified than someone who does not have the certificate.DIY

You can always buy a notebook and write down the client expenses and hours used. This can look unprofessional and take up to much of your time. If you just deal with one or two clients at a time, this might be something possible for you. There a few lawyers that deal with the Tennessee state courts that are able to accomplish doing their own tracking of fees for their clients.

Outsource

You can always outsource keeping track of your fees for your different legal clients. You will be involved with this somewhat. Buy by having someone else take control of the overall process gives you one less thing to focus on. You can hand over receipts and other details to the outsource to put together.

Laptop

By having a laptop with you at all times, you can simply write out client fees in a program like excel or word. If you can get into the habit of just jotting down all the expenses incurred by different clients. You can simply open a file for each client and keep track of every expense.

Files

You can always do thing the old fashion way and keep paper files. You might want to have your paralegal specialist help you with this part. Keeping good paper record sometimes can be easier than the computer if you are used to the old way of doing things. You have no risk of losing the information when you do paper filing of client fees.

keeping track of the fees that you need to bill your clients is extremely important. Getting paid is what keep you in business. Having the easiest way to keep track of your client’s fees is what with help you do your job better. It is best to do what is comfortable for you.

15 Sep

Managing Accounts in Legal Billing Softwares

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Top Strategies for More Effectively Managing Your Accounts in the First Place – LEGAL BILLING SOFTWARE,Currency, Mac Productivity, Paralegal Specialist Schedule, and More

• Go Electronic.
• Reduce Those Payment Terms.
• Maintain Many a Healthy Work Relationship.
• Provide Multiple Payment Methods.
• Consider Whether to Hire an Accounting Company.
• Set the Clearest Credit Policies.
• Make Collections Your Last Resort.

LAW FIRM BILLING SOFTWARE and More

LAW FIRM BILLING SOFTWARE can help you meet each of these goals in the timeliest manner. It can also help you to responsibly keep track of everything you need to do for your law business, whether it be big or small; size or busyness do not matter, but you must have a strategy, and that’s where this kind of software kicks into gear, making all things more efficient and precise – not to mention cost-effective. You never want to lose or misplace those highly sensitive payroll records, now, do you? I would think and hope not.

LEGAL BILLING SOFTWARE 101

It’s made with you in mind. It gives you thousands of small, in-built applications that will help you to manage the information for all of your accounts as effectively as possible. It offers countless labelization and categorization strategies and tools to help you not miss a single file, document or piece of relevant information. Just imagine: You’re working on a top secret legal court case in which there is much at stake, and you are on the verge of winning your argument and setting that client free, until you suddenly miss the last crucial bit of information – the one piece of evidence that is going to bring this case home once and for all; if this is you, then please do not continue to make this crucial mistake, and simply invest in a good quality of product – a legal software of this form. You will not regret your purchase but will thank God, with every last breath, that you made it just in time.

Needs

Whether you need trust accounting, time sensitive information management, control locks on certain files and admin. records, a timeline organizer fo every file, person, record or event by date and current relevancy, or simply a basic stopwatch with an alarm clock that tells you it’s time to get back in the room in two minutes, these special software programs can save your life – perhaps even literally. Anyways, when you count the cost of the initial investment, you realize that it is really you who is winning in the end; you’re not putting down half as much money as you are getting back from saving time and efforts in the long run, both of which cost you money anyways.

Save
Has it not been said, many a time, that time is money and money is time? Thus, if you waste one, you waste the other. What if, however, you manage to save yourself a significant chunk of both each day? Would that not be a large saving with dividends that bear thousands in the long run? This is just my opinion, of course, but I would sure think so. Consider it: That is all I am saying; after all, what could there possibly to lose?

Abacus Law

From Abacus Data Systems, it’s a top choice among many offered out there today – especially when it comes to managing accounts. This one is also the best all around. It ranks at five stars in nearly every online review and holds its own on countless other levels. It will keep all your information in one place in five minutes or less; its built-in system and settings are both likewise the easiest to configure, play around with, maneuver and enjoy for the long haul. Those clients will certainly be happy you used it, and that’s an understatement: They’ll be ecstatic when you win.

LEGAL BILLING SOFTWARE

Did you know that using this sort of software can also enhance your thinking and creativity skills combined? It’s no less true that the software’s many functions will allow you to come up with new ideas and uses for it that you never thought before, thereby increasing your ability to think on your feet as well. Plus, you can come up with new sorts of arguments and their relevant proving points while you conjure up every possible way to get that Uncle Rio out of jail for sneaking $50 to his abuelita in Mexico. All joking aside, this software opens doors and makes free thinking possible.
13 Sep

5 Tips to Track Your Legal Profits and Debts

LAW-FIRM-BILLING-SOFTWARE-4

5 Tips to Manage Your Finances

Law firms need to manage their finances just like any business. How well they are able to successfully do so can greatly impact the viability of the law firm. These five tips can greatly help your ability to track your law firm’s profits and debts and help to more effectively manage your business than you might otherwise be able to.

A law firm billing program is not only a great way to bill clients but also can be used as an analytical tool for keeping track of cases. Many cases require that the law firm receives retainers and potentially escrow balances on behalf of their clients that they have a legal obligation to keep track of and not intermingle with the funds of the law firm. Escrow funds are effectively debts for the law firm. Using a law firm billing software can make this process easy to monitor and help to avoid potential legal repercussions associated with improperly holding customers funds.

Using Your Billing Software to Make Appropriate Decisions

Law firms that have useful billing software in place can better allocate their resources and earn better profits. They can easily monitor billable hours by employee and can help the law firm to determine which employees are effective and which aren’t, so that the law firm can take corrective measures and work to improve on their profits. Law firms can help to identify which customers help the law firm to make more money and can help with the selection of customers.

Getting a Legal Billing Software in Place

A legal billing software is a critical tool that lets law firms accumulate billable hours and effectively charge hours to their clients. Individual employees will record and document the time that they spend on each legal case and will allow them to send information to their clients on how much time they spent and how much they are going to be charging them as a result of their work. Billable hours are the golden standard for charging most clients, other than those who are being charged on a pro bono basis, and a good legal billing software is essential for earning money.

Hiring a Certified Public Accountant

A certified public accountant can help to make sure that your accounting records are recorded in accordance with the applicable accounting law and can help to make sure that the financial information that is put in the hands of management is accurate. Accurate financial records can help to make sure that the law firm makes appropriate decisions in financial matters such as hiring, allocating resources, and managing profits. Certified public accountants can also look for instances of fraud, help to file income tax returns and take advantage of appropriate tax deductions, and provide consulting on financial matters to law firms, all of which can help to track and improve on your legal profits and debts.

Taking Finances Seriously by Reviewing Results

Law firms who are interested in preparing financial matters in a more organized way should put in place processes to manage and review their financial results. Doing so can greatly improve on their process of not only earning better returns but also in increasing compliance with loans and debts that the law firm may have. Benchmarking results to studies on legal forms issued by the University of Georgia and by the UF LAW TO SURVEY LEGAL PROFESSION s can help your organization to understand how effectively the firm is doing. Results are often exported directly from the law firm billing software directly to reports that management uses to compare results and find areas for improvement. The management of a law firm can be made easier with these benchmarking tools. Taking the time to understand the reports that are generated from your software can lead to better overall results for your firm and allow corrective measures to be taken in a more timely manner.

Reviewing the Implementation of Your System

Once you have a legal billing software in place, a method for monitoring client and firm results, and hire a Certified Public Accountant, you will need to review the implementation of the system to make sure that the system is effectively designed and implemented. Continual improvement is important for every business and law firms can more effectively do so when you review how effectively your legal billing software is designed and what the returns of your business.

Tracking your legal profits and debts can help your law firm to become more profitable and successful over the long term and help with your legal and moral obligations. Keeping track of legal profits is easier with the right billing software and can help your law firm to grow and prosper.

13 Sep

5 Tips to Track Your Legal Profits and Debts

LAW-FIRM-BILLING-SOFTWARE-4

5 Tips to Manage Your Finances

Law firms need to manage their finances just like any business. How well they are able to successfully do so can greatly impact the viability of the law firm. These five tips can greatly help your ability to track your law firm’s profits and debts and help to more effectively manage your business than you might otherwise be able to.

A law firm billing program is not only a great way to bill clients but also can be used as an analytical tool for keeping track of cases. Many cases require that the law firm receives retainers and potentially escrow balances on behalf of their clients that they have a legal obligation to keep track of and not intermingle with the funds of the law firm. Escrow funds are effectively debts for the law firm. Using a law firm billing software can make this process easy to monitor and help to avoid potential legal repercussions associated with improperly holding customers funds.

Using Your Billing Software to Make Appropriate Decisions

Law firms that have useful billing software in place can better allocate their resources and earn better profits. They can easily monitor billable hours by employee and can help the law firm to determine which employees are effective and which aren’t, so that the law firm can take corrective measures and work to improve on their profits. Law firms can help to identify which customers help the law firm to make more money and can help with the selection of customers.

Getting a Legal Billing Software in Place

A legal billing software is a critical tool that lets law firms accumulate billable hours and effectively charge hours to their clients. Individual employees will record and document the time that they spend on each legal case and will allow them to send information to their clients on how much time they spent and how much they are going to be charging them as a result of their work. Billable hours are the golden standard for charging most clients, other than those who are being charged on a pro bono basis, and a good legal billing software is essential for earning money.

Hiring a Certified Public Accountant

A certified public accountant can help to make sure that your accounting records are recorded in accordance with the applicable accounting law and can help to make sure that the financial information that is put in the hands of management is accurate. Accurate financial records can help to make sure that the law firm makes appropriate decisions in financial matters such as hiring, allocating resources, and managing profits. Certified public accountants can also look for instances of fraud, help to file income tax returns and take advantage of appropriate tax deductions, and provide consulting on financial matters to law firms, all of which can help to track and improve on your legal profits and debts.

Taking Finances Seriously by Reviewing Results

Law firms who are interested in preparing financial matters in a more organized way should put in place processes to manage and review their financial results. Doing so can greatly improve on their process of not only earning better returns but also in increasing compliance with loans and debts that the law firm may have. Benchmarking results to studies on legal forms issued by the University of Georgia and by the UF LAW TO SURVEY LEGAL PROFESSION s can help your organization to understand how effectively the firm is doing. Results are often exported directly from the law firm billing software directly to reports that management uses to compare results and find areas for improvement. The management of a law firm can be made easier with these benchmarking tools. Taking the time to understand the reports that are generated from your software can lead to better overall results for your firm and allow corrective measures to be taken in a more timely manner.

Reviewing the Implementation of Your System

Once you have a legal billing software in place, a method for monitoring client and firm results, and hire a Certified Public Accountant, you will need to review the implementation of the system to make sure that the system is effectively designed and implemented. Continual improvement is important for every business and law firms can more effectively do so when you review how effectively your legal billing software is designed and what the returns of your business.

Tracking your legal profits and debts can help your law firm to become more profitable and successful over the long term and help with your legal and moral obligations. Keeping track of legal profits is easier with the right billing software and can help your law firm to grow and prosper.