subject: Law Firm Billing Solutions [print this page] There are different types of law firm billing solutions available over the internet today. Over the last few years, accessibility to and use of law firm billing solutions have increased. Of course, it is a hot and popular product and offers multiple solutions and great functionality to law firms across the world. In a way, this solution or software is the first step towards streamlining time and billing for law firms using a type of e-billing technology.
There are basically three categories of law firm billing solutions available: for big law firms having more than 30 employees, for law firms with less than 25 employees, and for solo practitioners. If you are looking for a law firm billing solutions then the first thing to identify is the size of your law firm. Most of the top billing solutions for law firms comprise of a completely integrated system that will help you to track the total billable time of your law firm as well as revenue and costs. Some of the primary features of top-of-the-line billing solutions include:
1.Functionality for enhancing hourly billing
2.Functionality to ensure that you can create reports related to flat fee billing, minimum fee billing, contingency billing, and payment plan billing
3.The law firm billing solutions will help you to track time utilized in each of the client cases
4.The billing solution will initiate batch billing and can print or email any invoice within a matter of seconds
5.One of the salient points is the ability to create recurring billing with ease. You can create day-wise, week-wise and even monthly bills and ensure that they are a part of the billing cycle.
6.The billing solution for law firms ensure that contingency and retainer billing is easier than ever before
7.Most of the high-end law firm billing solutions offers an option to preset default hourly rates, which can be used for individual users
8.With the help of the software, you will be able to create bills for multiple client cases within a single invoice
9.You can even customize the permission levels for each user in your law firm
10.You can easily derive late payment status reports as well
One of the most important aspects of any law firm is accounts payable. Every law firm needs to bill their clients and the billing should not show over-charge or under-charge. It is extremely important that the invoices created are based on actual billable hours and not otherwise. Hence, you should always choose reputable law firm billing solutions that can ensure correct entry of data and management of billing data.
Most top-end law firm billing solutions are integrated with a time and billing functionality, which provides any law firm with the ability to capture all client advanced costs quickly and with ease to multiple ledgers. As a result, you will be able to maintain detailed aged accounts payable files as well, which can be used for reference to a particular client case. The main aim of the law firm billing solutions is to make it easier for your law firm to manage client expense or payment information with ease.
