2018 Best Law Firm Accounting Software

0
1911

Last Updated on

Since time is value for law firms, an accounting software solution that can efficiently record billing and time information is of high importance. The solution should be able to flawlessly organize work time and schedules, producing detailed accurate reports for clients while ensuring that you can run your law practice efficiently.

A good legal accounting software application comes complete with schedule reporting capabilities to organize information as per user preferences and report for multiple clients at different rates. The best legal accounting software should solve your everyday pain points.

1. BillQuick

Designed to address industry-specific needs of lawyers, attorneys, and law firms, BillQuick efficiently handles day-to-day billing & accounting, case management, employee compensation tracking, and time tracking. Available as a stand-alone and cloud-based application, BillQuick is accessible anywhere anytime.

More accurate time tracking is a key feature of the software, which also facilitates comprehensive business accounting and project management. The scalable, highly configurable application is easy to integrate with third party accounting solutions, ensuring faster billing and accurate time and expense tracking. BillQuick makes it hassle-free to access lists, reports, and data entry for payments, billing, and expenses.

Cons: Its interface is complex, which makes navigation little difficult for users that are new to the system.

2. Xero

Run your law practice more efficiently with this law firm accounting software designed to make you work smarter and faster, with its accurate time tracking capabilities. Whether you have clients that are on retainer or fixed fee, Xero can accurately track and bill work time, so you never have to lose your dollars. With invoicing and billing capabilities, the legal accounting software is automated to update everything.

The intuitive software is designed to organize accounting operations while handling transactional charges, hourly rates for consultation, retainers, and fixed fees and even tracking time spent in pro bono work. Xero makes it easy to send invoices electronically, quickly & efficiently set up invoice templates, import billing information, and track payments.

Cons:  The software supports only English language. It would be better to improve its lingual capabilities to support other languages.

3. CosmoLex

The web-based legal practice management and trust accounting software, CosmoLex is an all-in-one solution that comes complete with accounting, cash flow management, time tracking & task automation, and multi-billing options.

With the application, it is easier to get all the information in one location, so you can have complete real-time view of the activities and outstanding bills and balances. The intuitive product automates processes, keeping tasks and time connected.

The fully integrated system includes Trust (IOLTA) accounting functions, enabling you to manage bank statements, client funds, deposit slips, and checks, so you can manage your entire office sitting anywhere around the globe.

Cons: Since it is a cloud-based application, it may be difficult to access when the Internet is down.

4. TimeSolv

Quick to implement and easy to use, TimeSolv is an intuitive, reliable , and easily accessible law firm accounting software, designed with time tracking, invoicing, and management capabilities, which can integrate electronic billing and automate scheduled billing.

With online and offline access, the application can be accessed anywhere anytime, ensuring you keep a track of your work wherever you go. TimeSolv comes complete with a comprehensive range of features and responsive tools that make it easy to track your time and billable hours, personalize billing & invoice templates, and manage employees.

Cons: The feature-rich legal billing solution dashboard may be a little complicated for new users. But with practice and every day use, you can get a hang of the product and maximize its efficiency for your legal business.

5. Jarvis Legal

The cloud-based law firm accounting and practice management solution is designed to facilitate time tracking, billing & invoice management, expense tracking, and calendar and document management. Automated processes save you time and make processes more efficient for your legal practice.

Jarvis Legal is easy to access from any part of the world, since it is web based, so you can keep track of your time on the go! What’s more, the intuitive product makes it easier to collaborate on your cases efficiently and thus enhance team efficiency, with all the data safely secured at one place. Automated time tracking ensures that you no longer have to keep track of your time and billable hours.

Cons: The cloud-based application cannot be accessed when the Internet is down, which could make keeping track of your processes difficult.

You want a law firm accounting software solution that can efficiently track time and manage your processes automatically, while saving you time and money. At ITQlick, we understand your needs well and can provide you with the best software recommendation for your legal practice.


Warning: A non-numeric value encountered in /home/itqlickc/public_html/Blog/wp-content/themes/Newspaper/includes/wp_booster/td_block.php on line 997