Without time tracking functionality, your attorneys could lose track of how long they spent on tasks or forget to charge clients for time spent.
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Law firm accounting software ensures your firm stays productive and profitable by tracking billable hours in real-time as well as allowing attorneys to manually enter hours. Pull financial reports, view cash flow statements and profit and loss statements, and monitor attorney productivity. Automated reminders will be sent to you and clients to ensure important dates aren’t missed. Keep track of scheduled appointments, deadlines, and court dates. Documents include, but aren’t limited to, affidavits, wills, contract agreements, medical consent forms, real estate agreements, and employment agreements. Store images, files, and important documents pertaining to client cases.
Record billable hours as you work on tasks related to a client’s case.Ĭreate invoices based on recorded billable hours and hourly rate. Includes basic accounting features including accounts payable for tracking money owed, accounts receivable for tracking outstanding invoices, and a general ledger. Features of Legal Accounting Software Feature Fully integrated legal software suites will include accounting features along with other important features like practice management and time and billing. Larger law firms tend to prefer solutions that handle everything. For example, if you have a case management system in place that doesn’t offer accounting functionality and you don’t want to replace the existing system, standalone legal accounting software can integrate with it. Standalone legal accounting software is ideal for small firms or practices that have other software in place that can’t handle the firm’s accounting needs. Accounting software options that are specific to law offices will ensure confidential client information is stored properly and complies with data security laws. Legal accounting software helps law firms track time, bill clients, manage schedules and monitor business performance with financial reports.
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