Good billing and collection practices are the lifeblood of a law firm of any size or specialty.  What you charge for your time and how you collect your fees also carry certain ethical obligations.  Along with addressing duties regarding communicating the basis or rate of fees and expenses with the client, MRPC 1.5 provides guidance on the reasonableness of fees. A reasonable fee is an honest one. So, before sending that bill, consider whether legal software that can accurately capture your time and properly generate your bills may be right for your firm.

Law firms differ from other businesses because they must track hours, apply retainer funds, and comply with state rules for IOLTA accounts.  As such, sophisticated billing software is essential to accurately record time and create bills, so you can get paid.  If you aren’t using billing software or are thinking about upgrading your current billing system, consider these options:

• For the small firm – Small firms are watching their wallet. Lawyers at small firms are also on the road a lot. So a cost-effective option with the ability to track time through an app when away from the office is important. TimeSolv, Smokeball, and CASEpeer are some good options for a small firm.
• For the growing firm – For the firm focused on growing its book of business, software with client tools can be a great resource.  Clio offers a client intake tool allowing its user to schedule client consultations and perform conflict checks.  CARET Legal has a client portal making communicating with clients easy and secure.
• For the firm using QuickBooks –If your firm uses QuickBooks, consider software that integrates well to streamline your billing processes.  MyCase, Filevine, and SmartAdvocate allow you to track time and invoice clients, so they can pay online. 

Interested in more billing tips? Register for our August webinar, Paid in Full: Tips for Ethical Billing & Avoiding Fee Disputes with Clients.