The Accounting Process
We Assist Law Firms With The
Accounting Process
We can assist you through the many steps of the accounting process. Time and billing management is a necessary task for all attorneys, regardless of practice specialty and firm size. Time, Billing and Accounting software organizes time management, budgeting, client billing and the general ledger. If you or your firm would like to take the guesswork out of your billing and accounting preparation, consider our services.
Some Features and Functions of Time, Billing and Accounting software are:
Time Tracking
Tracks billable time; some programs may create reports for individual billing attorneys; Billable time can be recorded on an hourly, contingent, transactional, or user defined fee individually or firm-wide.
Bill Preparation /Accounts Receivable
Generates client invoices from firm's billable time records; Immediate access to client's overall balance; Records payments to client accounts; Some programs allow for a customizable bill design and easy conversions to PDF format, and secure delivery of bills via email.
General Ledger/Accounts Payable
Manage your firm's business; Records payments to vendors; Helps prepare mandatory IRS filings; Some programs have a check writing feature.
Trust Accounting
Manages clients' deposits on services not yet rendered. A lawyer should hold property of others with the care required of a professional fiduciary.
Accounting Process
Accounting is an information system that includes the process of recording, classifying, summarizing, reporting, analyzing and interpreting the financial condition and performance of the firm – in order to communicate it to stakeholders for business decision making.
Works with Other Programs
Many time, billing and accounting programs are compatible with and can share data with email programs (Microsoft Outlook), financial accounting programs (QuickBooks), and Personal Digital Assistants.
