The Reasons why Your Law Firm Requires a Billing Software
There are of course a number of the billing software available out there and as a matter of fact your business is at liberty to choose whichever software it deems fit for it but in reality and actual sense, it will only be best with software that actually do have software with features that are particular to the legal profession or industry. Like it is rather sounding obvious, the generic type of business software will be indeed a great one for working with the generic businesses. However for the law practices and concerns, there is a need for there to be a dedicated billing software as they do have a billing requirement that can only be served by the equally special billing software and system. An example of such is Matter-based billing.
The business software of the common type will be good at handling the client billing and the other multiple billing tasks like the hourly rates and the flat rates. These billing packages may not be as good for a legal practice for the reasons that they do not categorize the billing according to the client category and not the assignment handled for the client, which is actually the best format to use for the legal firms. For the best organization of the matters for a legal practice, as a n attorney you must have the matters you are dealing with separated into separate billing systems.
Read on for this example that will further expound on the point we are trying to put across for the need for a billing software special to a legal practice. We will have a character in the name of Tim Parker getting a divorce and your firm is taking them through this. On top of the fact that they have contracted you to handle the divorce case, the same character has seen it fit to hire you as well to handle the need to update his will and the other estate paperwork to reflect the dissolved marriage they were in. In your contract agreement for the services, your firm takes on the divorce case at an hourly rate with the retainer and the will you settle for a deal with an agreement on the flat fee basis. Without a doubt, for the sake of efficiency and professional service to the clients, you will have to have these two cases kept separate. Particularly take a case where the planning case ends up getting to cost more in expenses related to it which you will want to bill the client, it will not be possible and any professional taking that from the retainer in the divorce case.
Do not think it possible curing this problem by having two separate files for the same client as you will still may not quite deal with it, as some clever attorneys attempt.