The Best Legal Billing Software Of 2024
Looking for the best legal billing software? Here are the top options for firms of all sizes:
- TimeSolv: Ideal for small firms
- Rocket Matter: Perfect for firms of all sizes
- AbacusNext: Best for large firms with complex needs
- MyCase: Great for small firms using QuickBooks
- Clio: Ideal for growing firms
Compare features and pricing to find the best fit for your firm’s needs.
Best for Small Firms
TimeSolv
If you’re a small firm looking for a project management and billing software, TimeSolv is a great option to consider. With a starting price of $39.95 per user per month, it offers a free 30-day trial to test out the software.
Project Management
TimeSolv offers project management tools such as a to-do list, milestones, and budgeting. You can share the budget with employees and clients, and team members can see a daily to-do list for projects. The software also allows you to track time and expenses on or offline through the apps.
Payments
One of the standout features of TimeSolv is the ability to collect and store client payment information upfront. This means that payment is automatic, and you don’t have to chase clients down over unpaid invoices.
Legal Plan
For legal firms, TimeSolv offers a Legal plan that includes legal-specific billing formats, conflicts management, trust accounting, and ABA task codes. The cost for a Legal plan is $39.95 per user per month or $431.52 per user per year (for less than five users). Bulk discounts are available for firms with more than 100 users. 501(c)(3) pro-bono firms and charitable organizations can use the software for free.
Pros & Cons
Pros of TimeSolv include case management, tracking time and expenses, storing client payment information, and competitive pricing. However, the software is less user-friendly than some of its competitors and lacks advanced reporting features.
Overall, TimeSolv is a good fit for smaller firms with less complex needs, as well as nonprofit organizations who can use the software for free.
Best for Firms of All Sizes
Rocket Matter
Rocket Matter is a cloud-based platform designed for legal billing and case management. The platform offers a variety of features, including project management tools, document storage, and payment processing. The starting price for the software is $39 per user per month, with a free 15-day trial available.
Project Management
With Rocket Matter, you can store all of your matter-related information in one place, including documents, emails, tasks, and billable hours tracking. The platform offers Kanban boards for organization and document storage organized by matter. You can share documents securely with clients and request documents from clients for secure uploads. You can also create templates for matters that you can apply to any cases in the future.
Payments
Rocket Matter lets you set up automated billing, so invoices will be sent out on a chosen schedule based on your billable hours and expenses. You can spend less time on manual billing. The platform includes conflicts management and trust accounting for your law firm’s unique needs. Payment options include eCheck or credit card payments, with payment plans available.
Why We Picked It
Rocket Matter is an excellent choice for firms of all sizes. The software offers advanced reporting, including origination reports for new-business incentives, allocation reports, matter budgets, and team and matter productivity. It’ll even connect you with experts to build custom reports for your firm.
Pros & Cons
Pros of Rocket Matter include matter management, document storage, automated billing, advanced reporting, and high customizability. However, the software is more expensive than some competitors and less user-friendly than others.
Who Should Use It
Rocket Matter offers plans that are a fit for firms of all sizes. Choose the Essentials plan if you don’t mind handling billing yourself and have simple reporting needs. Upgrade to Premier to gain greater business insights and hands-off billing.
Best for Large Firms With Complex Needs
AbacusNext
AbacusNext is a legal management software provider that has been in the industry since 1983. It offers three products for law firms, namely Amicus Attorney, AbacusLaw, and Amicus Cloud. These products cater to the different needs of firms depending on their size and requirements.
Amicus Attorney
Amicus Attorney is a legal practice management software that integrates with QuickBooks and Microsoft 365. It is downloadable software that can be used on local servers or through a private cloud for easy access and sharing that’s still secure. It includes features for both case management and invoicing and billing. With Amicus Attorney, team members can track time and expenses on the go with a mobile app or online.
AbacusLaw
AbacusLaw is a practice management software with built-in accounting. It is also downloadable software that can be used on local servers or through a private cloud. Like Amicus Attorney, it includes features for both case management and invoicing and billing. With AbacusLaw, team members can track time and expenses on the go with a mobile app or online.
Amicus Cloud
Amicus Cloud is a cloud-based app for small firms that offers practice management and billing. It is accessible from anywhere and includes features for case management and invoicing and billing. With Amicus Cloud, team members can track time and expenses on the go with a mobile app or online.
AbacusNext’s solutions include a client portal with APX PayNow, a product that lets clients pay through a link in an emailed invoice. This feature makes it easier for law firms to receive payments from clients.
AbacusNext’s Private Cloud and integrated accounting features make it the best option for large, complex firms. The Private Cloud option offers secure access to the software from anywhere, making it convenient for firms with multiple locations. The integrated accounting features make it easier for firms to manage their finances within the software.
While AbacusNext’s software may not be as user-friendly as its competitors, it still offers a range of features that make it a great option for large firms with complex needs. Pricing for Amicus Cloud starts at $59 per user per month, while custom pricing is available for AbacusLaw and Amicus Attorney.
Overall, AbacusNext is a reliable option for law firms of all sizes, but it is particularly suited for large firms with complex needs. Its range of features and secure access make it a great option for firms that need to manage their practices efficiently.
Pros:
- Secure Private Cloud option
- Options for all firm sizes and needs
- Case management
- Built-in invoicing and billing
- Calendar integration to easily manage deadlines and court dates
Cons:
- Not as user-friendly as competitors
- Slightly more expensive
Best for Small Firms Using QuickBooks
MyCase
If you are a small law firm looking for a case management and legal billing software that integrates well with QuickBooks, MyCase is an excellent option. MyCase offers a free 10-day trial and pricing starts at $39 per user per month.
Project Management
MyCase offers a range of project management features, including document storage and sharing, calendaring, and automated workflows. With MyCase, you can securely store and share unlimited documents, manage your legal calendar, and automate repetitive tasks.
Payments
MyCase Payments allows you to accept online payments from clients. Clients can easily pay invoices online, making it a convenient and efficient way to handle payments.
Why We Picked It
MyCase is an excellent choice for small law firms that do not have complex accounting and reporting needs. It offers time tracking, invoicing, online payments, as well as task and case management features. With MyCase, you can track billable hours using multiple timers, create invoices for unbilled hours with a few clicks, and LEDES billing is available.
The software also includes lead management features to help you capture contacts and track your firm’s communications to convert more clients. MyCase integrates seamlessly with QuickBooks, making it easy to manage your finances.
Pros & Cons
Pros:
- Automated project workflows
- Time and expense tracking
- Unlimited document storage
- QuickBooks integration in Pro plan
- Popular software with law firms
Cons:
- No advanced reporting
- No native accounting features
Overall, MyCase is an excellent choice for small law firms looking for a case management and legal billing software that integrates well with QuickBooks. With its range of project management features and online payment options, it is a convenient and efficient way to manage your legal practice.
Best for Growing Firms
Clio
If you’re running a growing law firm, Clio is a practice management software that can help you manage your case management, billing, accounting, and client intake needs. With Clio Manage, you can keep track of everything you need to know about your client matters, including notes, contact information, documents, tasks, time tracking, and invoices.
One of the standout features of Clio is its integration with word processing software, which allows you to create and edit documents with familiar programs and save them to Clio with a single click. This makes document storage and organization a breeze, and can save you a lot of time in the long run.
Clio also offers a client intake management feature through its Clio Grow add-on. With this feature, you can schedule consultations, review cases for conflicts of interest, and automatically share intake forms and get documents signed online.
Pricing for Clio is based on the features you want, with plans ranging from $39 per user per month for the EasyStart plan to $129 per user per month for the Complete plan. The Essentials and Advanced plans offer additional features such as secure client communication, document templates, automated workflows, integrations with QuickBooks, Zoom, and more.
While Clio’s pricing is slightly higher than some of its competitors, it does offer a free 7-day trial, which gives you ample time to test out its features and see if it’s the right fit for your firm.
Pros:
- Client intake management
- Word processor integration for easy document storage
- Built-in time tracking
- Accounting features included
Cons:
- Short trial period
- Slightly higher pricing than most competitors
Overall, Clio’s client intake features through Clio Grow make it a great option for growing firms focused on building a strong client base. With its robust case management and billing features, as well as its integration with word processing software, Clio is a solid choice for firms looking to streamline their operations and improve their productivity.
Methodology
To determine the best legal billing software, we analyzed the top-rated options based on their billing, scheduling, reporting, analytics, and encryption features. We also incorporated feedback from third-party sources such as G2 and Capterra to include expert and customer reviews in our rankings. Additionally, we considered subjective factors such as the availability and value of features, pricing, popularity, and ease of use. By using this methodology, we were able to provide an unbiased and comprehensive evaluation of the most popular legal billing software available.
How to Choose Legal Billing Software
Choosing the right legal billing software for your firm can be a daunting task. With so many options available, it can be difficult to determine which one is the best fit for your practice. However, by considering your firm’s size and needs, you can narrow down your options and make a more informed decision.
Here are some factors to consider when choosing legal billing software:
1. Features
Legal billing software can offer a range of features, including billable hours tracking, expense tracking, invoicing (manual or automated), tracking late payments and automated follow-up, case information management, document storage, document sharing with employees and/or clients, customer relationship management, document signing, legal calendaring, online payments, and bookkeeping and/or accounting features. Determine what features your firm needs and which ones are worth the cost.
2. Integration
Consider whether you currently use accounting software or document signing and management software and whether you want your legal billing software to integrate with them. This can save time and streamline your workflow.
3. Case Management and Billing
Decide whether you want to handle case management and billing in the same place or separately. Some legal billing software offers both features, while others specialize in one or the other.
4. Number of Users
Consider how many users your firm will need to set up in the software. This can affect pricing, so it’s important to choose a software that fits your budget.
5. Trust Accounting
Decide whether you need software that offers trust accounting or whether you will manage that separately.
6. Payment Methods
Consider whether your clients will be open to paying through an online portal instead of by check or another method. Most legal billing software includes online payment options, but it’s important to make sure your clients are comfortable with this method.
By considering these factors, you can choose legal billing software that meets your firm’s needs and helps you streamline your billing process. Remember that most legal billing software includes the basics any firm needs, such as information security, data backups, and cloud access. The key is to choose the software that offers the features and functionality that are most important to your practice.
Frequently Asked Questions (FAQs)
What is legal billing software?
Legal billing software is a program that helps law firms track billable hours, send invoices, and receive payments. It is designed specifically for law practices and includes features such as trust accounting, LEDES billing, and retainer payments. With legal billing software, you can also manage case documents and information in one place.
Why use legal billing software?
Legal billing is unique compared to other small businesses. Law firms have complex billing structures and are subject to strict ethics and accounting regulations. Legal billing software can help manage time tracking and invoicing more efficiently than general bookkeeping and invoicing software.
What are the most common types of billing methods in a law firm?
Hourly billing is the most common billing method for law firms. However, firms may also offer flat fees, retainers, or contingency fees (a percentage of the amount won through judgment or settlement).
Can lawyers use PayPal or accept Venmo?
The ethical and legal rules for accepting online payments, such as credit and debit cards and peer-to-peer (P2P) payments, vary by state and location. Whether you should take payments via payment apps, such as PayPal or Venmo, depends on whether clients are paying for earned fees or retainers. Retainer fees must be placed in a trust account, which these apps do not do.
What are some benefits of legal billing software?
Using legal billing software helps eliminate potential human errors by automating several processes that are normally done manually. This saves time and helps improve project and client management. With automated billing and other processes, your billing process is more streamlined, and bills are processed and sent out in a timely manner.
What Features Should Small Law Firms Look for in Legal Billing Software?
When searching for legal billing software, small law firms should look for software that is affordable, user-friendly, and customizable to their specific needs. Additionally, it should have features such as time tracking, expense tracking, and invoicing. Integration with other software such as accounting software would also be beneficial.
How Do Solo Practitioners Benefit from Specialized Legal Billing Software?
Solo practitioners can benefit greatly from specialized legal billing software as it can help them manage their time and expenses more efficiently. It can also help them keep track of their billable hours and generate invoices quickly and accurately. This can ultimately lead to increased productivity and profitability for the solo practitioner.
What are the Advantages of Using Legal Billing Software for Large Firms?
For larger firms, legal billing software can provide a centralized system for managing time and expenses across multiple attorneys and cases. It can also help with budgeting and forecasting, as well as providing detailed reports and analytics. Additionally, it can help with compliance and ensure that billing practices are consistent across the firm.
Are There Any Free Legal Billing Software Options That are Recommended for Legal Professionals?
There are several free legal billing software options available, but it’s important to research and compare them before making a decision. Some recommended options include Wave, ZipBooks, and Invoicely. These options offer basic features such as time tracking and invoicing, but may not have all the features of paid software.
What is the Most User-Friendly Legal Billing Software Currently Available?
The most user-friendly legal billing software currently available is subjective and depends on the specific needs and preferences of the user. However, some popular options known for their user-friendliness include Clio, MyCase, and PracticePanther. These options offer intuitive interfaces and easy-to-use features.
How Does Legal Billing Software Integrate with Overall Law Firm Accounting Practices?
Legal billing software can integrate with overall law firm accounting practices through integration with accounting software such as QuickBooks or Xero. This allows for seamless transfer of financial data and ensures that billing and accounting practices are consistent. Additionally, legal billing software can provide detailed reports and analytics that can be useful for accounting purposes.
Next Up
Now that you have a better understanding of the backgrounds of the authors on Forbes Advisor, it’s time to dive into some of the content they’ve produced. Here are a few articles to check out next:
- “5 Tips for Building a Strong Financial Foundation” by Dana Miranda
- In this article, Miranda provides practical advice for setting yourself up for financial success.
- “Small Business Taxes: What You Need to Know” by Jane Haskins
- Haskins draws on her legal expertise to break down the complexities of small business taxes.
- “How to Create a Winning Digital Marketing Strategy” by Kelly Main
- Main shares her insights on creating an effective digital marketing plan, drawing on her experience as a marketing editor and writer.
In addition to these articles, Forbes Advisor offers a wealth of information on a variety of financial topics, from investing to credit cards to insurance. Be sure to explore the site to find more articles that are relevant to your financial situation.
Remember, while the information on Forbes Advisor can be a valuable resource, it’s important to keep in mind that everyone’s financial situation is unique. Before making any major financial decisions, be sure to consult with a qualified professional who can help you assess your specific needs and goals.