Category: Legal Billing Tips

11 Jul

7 Reasons Why Your Firm Needs Time-Billing Software

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What is a Legal Billing Software? What Can it Do for Your Law Firm?

Purchasing law firm billing software is a smart way to save time and money for any attorney and firm regardless of their size. It’s a great way of organizing your budget, getting paid and managing your client billing needs.

 

How You Can Stay Organized Through a Legal Billing Software?

Many legal firms look for new techniques to stay on top of things and advance themselves from their competitors. One of the ways is to generate bills quickly and easily so that payments can be collected in a timely manner. Legal billing software will make it easy for customers to pay on time, especially since it calculates interest and late payments automatically. Credit card payments and the use of PayPal and Law Pay are included and built-in some of the best time-billing software.

 

Here are 7 reasons why you should use law firm billing software at your firm:

 

1) Your legal team will be organized, strong and responsive

2) If the information is centralized, your legal team can stay focused on their task

3) Project management is facilitated and it will be an invaluable experience

4) Making clients happy is the best recipe for success

5) Alternative fee arrangements are a thing of the past

6) Hourly billing has become an easy possibility

7) Managing any legal team on the go is now trouble-free

 

If you are looking to get paid faster and save hours of billing every month, then you will be able to generate a multiple billing system and accept credit cards from the invoices you and your firm send your clients. Adding the time and expense will be all on one screen and time tracking will enable you to manage your clients in a more reasonable setting. Some legal billing software will allow your firm to do online invoicing and payments. The information is safe and secure and will prevent your firm from cases of perjury as all the data will be stored and accessible when requested by a judge.

 

Why You Should Invest in Using a Legal Billing Software?

Lawyers lose up to 30% of their billable accounts due to an ineffective time tracking and time billing system. Using a credible time-billing system will also allow your firm to bill on a contingency or by charging a flat rate. A trust account can be tracked on a regular basis and QuickBooks online can be synced with the software from any location and at any time.

 

It is of course important that the legal billing software you purchase is user-friendly and intuitively will protect your data. It should be accessible 24 hours a day and seven days a week, year round and for your convenience with 99.9% of up-time. Some software’s also enable a chat forum with tech support in case it becomes crucial to manage and understand the software accordingly.

 

Many independent lawyers like to use their iPhones, iPads or an Android phone, that’s why law firm billing software apps have been created that are used for billing and receiving payments from your clients on an ongoing basis. You can even track your expenses and the time spent on any device or computer. Best of all you can keep track of things using international currency. The client portal allows you to send and receive secure messages, set up tasks and events that are coming up, including their due dates.

 

The Director of State Courts is the person who’s part of the state courts and works under the direction of a chief justice. He has the authority to oversee and manage the court system. It is useful to have a link to the court site to your main computer which will be accessible when using your time-billing software.

 

In general, before committing to software that will facilitate your time-billing needs, and especially if you have multiple offices, make sure your administrator and team is well trained and proficient on how to use the software before it s launched in order to prevent mistakes that would ruin your reputation. Ongoing training is provided with many software packages, both in a classroom setting and online.

 

Legal firms should always be trailblazers and pioneers for their colleagues and competitors, that’s why it’s so important to keep up with the latest trends and skills in order to stay ahead in this competitive market. The key is to find a user-friendly and easy-to-work-with legal billing software that’ll give your legal team the advantage of excellent project management and a billing system that is to the point and state-of-the-art, whether you’re a boutique legal firm or a larger legal entity.

8 Jul

A How-to Guide for Legal Financing

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Legal funding is a special type of financial aid that was designed to keep both the lawyers and the plaintiffs thriving economically while awaiting a decision from the court. Also, known as litigation finance or legal lending, this form of financing can be a major benefit in what can be a long and grueling legal struggle.Contingency fee lawyers, for example, can benefit from customized legal funding. This is essential because the fees they can collect will depend on the outcome of the case. This is where a solid law firm billing software can help manage the expenses of contingency fees, to ensure the best overall experience. The important thing to remember is that this type of financing can be customized to fit the budget needs and most convenient time frame of the legal firm or plaintiffs seeking financial assistance. With the pressing urgency of financial needs removed from the equation, a legal team is better able to prepare the case for the best solution.

 

 

The Need for Financial Assistance During the Litigation Process

Just like any other business, a legal firm depends on their cash flow to generate resources for more actions. Maintaining a balance can be a difficult task, which is one reason many firms depend on their legal billing software to keep their fees and billing system efficient and functional. Mac productivity is another important software solutions that can help in keeping a law firm’s financial system efficient and updated. During the litigation process, it is possible to go many months and even years before these fees can be collected. Especially for those working on a contingency billing plan. These fees are crucial to the survival and progress of the company and when they are unavailable it can be difficult to assemble a case or even meet the expenses that keep the law firm in business. The various options of legal funding available make it possible for the different type of lawyers to continue with their business, hire expert witnesses, pay for advertising, cover the costs of discovery and maintain their office during extended periods of no income while they are awaiting collections.

 

Why not just go to the bank?

While many lawyers have chosen the traditional methods of seeking financial aid during this time, there are some reasons the conventional LOC (line of credit) is not the best option for this specific situation. The first reason is the credit check that banks will typically run before they open a line of credit. Because most lawyers are running a business as an individual, their personal credit may not be high enough to be eligible for this type of financial aid.

The collateral that most banks and financial institutions require for opening a line of credit can be another obstacle for a law firm. This must be in the form of stocks, bonds, real estate or some other asset not always available to the lawyer. Finally, a lawyer with the collateral and credit history to qualify for a line of credit from the bank may find that the interest rates and monthly repayment requirements may make this line of credit unsuitable to the needs of the firm. This leaves legal funding as the primary option for funding while waiting for a court decision.

How does legal funding work?

The process for acquiring legal funding is very different than what would be done to obtain a conventional line of credit. The entire process has been geared toward providing recourse for lawyers and their clients in a lengthy legal process. Also, apart from “Attorney lines of credit” these are not loans but advances. This means that all the cash they will receive is coming from future legal fees they expect to collect. Advances provided to plaintiffs will be paid from payments or settlements they expect to receive. Legal funding agreements are also not offered by your typical financial institutions but from special legal services corporation that specialize in this practice. To qualify for this advance the plaintiff or attorney must be currently involved in some type of legal process or have a case which has been recently brought to settlement.

Final Considerations for Legal Funding

Before you begin the process for legal funding be sure you have considered the following points:

  • An ongoing case or recent settlement.
  • Legal funding is an advance not a loan.
  • A top-quality law firm billing software will benefit your system.

It doesn’t take an advanced diploma in legal project management to know that the resources on hand will be crucial to how much you can build a case. In addition to finding legal funding, law firms can greatly improve their resource cache by applying top-notch legal billing software. The best law firm billing software can be used to set billing rates, manage clients and even organize contingency payment plans. This can save the firm plenty of time and resources.

 

6 Jul

5 Things to Consider When Choosing Time-Billing Software

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Your Advantage

 

Time billing software can make a huge difference in your daily business activities; however, there are five things you should consider before making that choice such as, will the software work for your business? Law firm billing software can make billing effective and smooth. Find out about legal billing software soon!

#1 Will the software be effective and work for your business?

 

It is most important that you find out if the software you are interested in will work for your company. In addition, it is important to ensure that the software you are interested in will work for all of your employees and that they can access the system without hassles or complications. Also, you need to give consideration to the features that the software offers. Find out about law firm billing software, today!

 

  • For example, does it offer a quick and accessible way to use colors or other icons for tracking different projects?
  • Does it also employ accuracy and accountability? Also, will the software be able to clearly spell out to your clients where and how you spent time on their projects?
  • Take time to look at all the features the software offers.

 

#2 What about choosing a web-based system?

 

Most importantly, think about choosing a web-based system. It is important to note; some companies use software that can be loaded to each computer; however, technology is changing. The best way to go, for many companies, is to choose web-based software. What this means to you and your employees is that you and your employees can access the software no matter where you are; just as long as you have a computer that has access to the Internet. Legal billing software adds value and efficiency to any law firm!

 

#3 Another point to consider: is the software easy to use?

 

It is important to note; if the software that you are thinking about is hard to use, you may not want to use it often. The software of your choice should never slow your work in any way. University of Georgia has billing software that works great!

 

  • Actually, it should go smoothly and be a great addition to your workplace environment.
  • Most importantly, software that takes a long time to learn will slow your work and cause you to use it less.
  • That is why it is important to use software that takes little time to learn and use and adds value to your work day.

 

#4 Another tip is do they offer a demo or trial?

 

One of the best ways to find out if the software is too difficult to use and if the learning curve takes too long, is to try it. If the company does not offer a demo or trial, you may want to move on to someone else. Once you find a company that offers a demo, make sure that you use the demo the same way as you would the actual product. Take time to use it well and see what it offers and what kind of features it offers, as well as how difficult it is to use. Paralegal duties are more efficient with law firm billing software.

 

#5 Be sure to look for reviews of the software!

 

Reviews can be a great way to find out what others are saying about the product. Some of the reviewers may have come across things that you didn’t see in the demo, both good and bad. Those reviews could influence your decision on whether to buy the product or not. Director of state courts uses billing software.

 

To conclude, time billing software can make a huge difference in your business life; however, there are five things you should consider before making that choice such as, will the software work for your business? Talk with a time billing software specialist soon and find out more! Law firm billing software can add value to your law firm.

3 Jul

Never Work for Free Again with the Perfect Legal Billing Software

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Preparing For Professional Legal Work

Attorneys who are fresh out of law school and have endless opportunities ahead of them can take several paths to gaining prominence. After all, what good is a career in law that doesn’t gain attention? The Access to Law Initiative in California has inspired several new classes of attorneys who are ready to enter the jurisprudence fields. These attorneys have the option of aggressively pursuing a traditional career, or tailoring an office toward the needs of modern clients.

 

Be Prepared To Be Flexible

If your path in legal assistance is leading toward public service, which means giving legal advice for free, there are several client filing and bookkeeping procedures that you should know about. There’s no question that a person trained in the legal fields has the know-how to run a firm. Business and legal details are related, but there are pitfalls to navigate. Anyone wanting to start a new legal practice should consider help from a billing service that makes extending assistance to clients easy and profitable.

 

All Service Deserves Compensation

It is very common for people entering the legal fields to go about representing clients with a service-oriented attitude. This is a great pursuit. It is also common for attorneys offering pro bono help to overwhelmed when it comes to bookkeeping. There is no reason that a qualified attorney should provide help to clients without just compensation. There are man opportunities to provide free help, but in other cases, a sure way of calculating professional costs must exist.

 

Software Allows Flexibility

Legal billing software is the most accurate way that legal offices can track and schedule payments. Since many attorneys have obligations to a diverse clientele, it is also a good idea to use law firm billing software that accepts and recognizes variances in international currency rates. Lawyers who are just starting out in the professional world should realize that their influence has the potential to involve international disputes. A legal billing software setup is vital for accurately collecting payment for services.

 

Software Eliminates Fact and File Problems

Another problem that new lawyers face is the potential for perjury disputes. The most common way a lawyer is pinned for this type of mistake is inadequate bookkeeping. In the past, it was necessary to hire a professional accountant to file records on every case. Now, accountant services can be accomplished through law firm billing software that is automatic and consistently reliable. Software that provides options for daily records, account management, and case discrepancies are valuable to a legal team. Instead of spending valuable time manually recording activity, legal billing software accurately accounts for all professional service actions.

 

Software Billing Fills the Gaps

One of the ways a legal team loses out on payment is extra time spent in research and preparation. Logging time spent researching case information is difficult. It is important to let clients know that time spent researching case material is a professional service that requires compensation. If law firm billing software is utilized, it is easier for clients to understand that every hour spent on a case requires compensation for things like,

 

  • Extra time spent on researching case details.
  • Time spent on organizing court files.
  • Extra time explaining legal processes to clients.
  • Reorganization at every level of case preparation.

 

Incorporating Billing Software is a Good Business Move

Legal billing software is a great tool for new and established firms in streamlining their books, or designing a new client payment schedule. Software options not only allow lawyers to keep accurate records of their actions, but provide concrete evidence in cases where bookkeeping is important. There is no need to start a legal career the old-fashioned way. Lawyers having to make records on their own are more likely to incur scrutiny when it comes to private firm accounts and time records. Using software to take care of all the details is a better option for lawyers who want to avoid clerical hassles as they build the reputation of their firms.

 

3 Jul

Never Work for Free Again with the Perfect Legal Billing Software

LEGAL-BILLING-SOFTWARE-9

 

Preparing For Professional Legal Work

Attorneys who are fresh out of law school and have endless opportunities ahead of them can take several paths to gaining prominence. After all, what good is a career in law that doesn’t gain attention? The Access to Law Initiative in California has inspired several new classes of attorneys who are ready to enter the jurisprudence fields. These attorneys have the option of aggressively pursuing a traditional career, or tailoring an office toward the needs of modern clients.

 

Be Prepared To Be Flexible

If your path in legal assistance is leading toward public service, which means giving legal advice for free, there are several client filing and bookkeeping procedures that you should know about. There’s no question that a person trained in the legal fields has the know-how to run a firm. Business and legal details are related, but there are pitfalls to navigate. Anyone wanting to start a new legal practice should consider help from a billing service that makes extending assistance to clients easy and profitable.

 

All Service Deserves Compensation

It is very common for people entering the legal fields to go about representing clients with a service-oriented attitude. This is a great pursuit. It is also common for attorneys offering pro bono help to overwhelmed when it comes to bookkeeping. There is no reason that a qualified attorney should provide help to clients without just compensation. There are man opportunities to provide free help, but in other cases, a sure way of calculating professional costs must exist.

 

Software Allows Flexibility

Legal billing software is the most accurate way that legal offices can track and schedule payments. Since many attorneys have obligations to a diverse clientele, it is also a good idea to use law firm billing software that accepts and recognizes variances in international currency rates. Lawyers who are just starting out in the professional world should realize that their influence has the potential to involve international disputes. A legal billing software setup is vital for accurately collecting payment for services.

 

Software Eliminates Fact and File Problems

Another problem that new lawyers face is the potential for perjury disputes. The most common way a lawyer is pinned for this type of mistake is inadequate bookkeeping. In the past, it was necessary to hire a professional accountant to file records on every case. Now, accountant services can be accomplished through law firm billing software that is automatic and consistently reliable. Software that provides options for daily records, account management, and case discrepancies are valuable to a legal team. Instead of spending valuable time manually recording activity, legal billing software accurately accounts for all professional service actions.

 

Software Billing Fills the Gaps

One of the ways a legal team loses out on payment is extra time spent in research and preparation. Logging time spent researching case information is difficult. It is important to let clients know that time spent researching case material is a professional service that requires compensation. If law firm billing software is utilized, it is easier for clients to understand that every hour spent on a case requires compensation for things like,

 

  • Extra time spent on researching case details.
  • Time spent on organizing court files.
  • Extra time explaining legal processes to clients.
  • Reorganization at every level of case preparation.

 

Incorporating Billing Software is a Good Business Move

Legal billing software is a great tool for new and established firms in streamlining their books, or designing a new client payment schedule. Software options not only allow lawyers to keep accurate records of their actions, but provide concrete evidence in cases where bookkeeping is important. There is no need to start a legal career the old-fashioned way. Lawyers having to make records on their own are more likely to incur scrutiny when it comes to private firm accounts and time records. Using software to take care of all the details is a better option for lawyers who want to avoid clerical hassles as they build the reputation of their firms.