The Reasons why Your Law Firm Requires a Billing Software
You know it and it is a fact that your business actually can select from a number of the billing software available in the market though in reality for the best of the systems, it is important for you to ensure that you have those software that are special to the legal industry to have the best of the services of the software. Bear in mind the fact that generic business software will actually work well for 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. Matter-based billing is one of the requirements that the specialized billing needs that you will have from the specialized software.
The normal business software is in a position to take care of client billing and as well can deal with the multiple billing models like 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. Under the legal profession the lawyer must of course categorize the matters into separate billings.
Take this example of a case to highlight this point further. 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. Your firm accepts the divorce case is agreed on at an hourly rate with a retainer guarantee and for the will updating services, you agree to charge fees at a flat rate. Without a doubt, for the sake of efficiency and professional service to the clients, you will have to have these two cases kept separate. This need to have separate accounts and systems for the billing of the same client for separate cases is so particular considering a situation such as you may experience where you find that the case of helping them with the need for estate planning which you agreed to charge on a flat rate ending up in the end incurring additional expenses which will call on you to bill the client and you may not be so professional taking the charges or bills from the retainer you hold for the divorce case.
Even trying it out by creating two different accounts within the same system, such as for a “Tim Parker-Will” file and another one labeled, “Tim Parker-Divorce” file as this will in actual sense end up mixing you up in practice and may make you lose your credibility as a professional attorney.