Cosmolex
Ready Set Scale 770

Accounting Software

Law firms use accounting software to record and monitor the money that flows in and out of their business. Basic software can be used to track income and expenses, send bills and statements, write checks, and report on financial activities.

Many firms prefer software designed specifically for law firms over software designed for general business (for example, Quickbooks). This is because legal programs include client trust features and safeguards that make it easier to comply with state bar ethics rules. Legal-specific software is also designed to accommodate timekeeping and hourly billing rates. Today, law firm accounting programs often include payments, allowing firms to easily accept electronic payments and credit cards.

In addition, most accounting software includes reports ranging from basic profit and loss statements and balance sheets to customized reports.

legal billing in the cloud
Cloud Billing and Financials Take Your Firm Wherever You Need to Go 

Tabs3 Cloud includes access to the billing and financial features tens of thousands of legal professionals have come to trust.

Tabs3 - February 17, 2024
legal trust accounting
Legal Trust Accounting Basics: Stay Compliant with Confidence

Product Spotlight | Mistakes with legal trust accounting can lead to serious consequences. Let CosmoLex provide you with the tools necessary to remain compliant.

CosmoLex - January 26, 2024
billing and accounting software
Top Five Time-Saving Features to Look for in Billing and Accounting Software 

Managing your law firm's finances can be complex and time-consuming. Checkout these 5 billing and Accounting software time-saving features.

Tabs3 - August 24, 2023
embedded payments
Getting Paid Faster: Embedded Payments

Kevin Gallagher | Embedded payments offer much more than automatic payments.

Kevin Gallagher - May 31, 2023
law firm accounting
Law Firm Accounting: What’s in Your Law Firm’s Profit & Loss Statement?

Most small and solo law firms are working with financial statements that don’t give them the information they need to make informed business decisions. Here's a sample P&L for a law firm that looks like what I typically see.

Annette Fadness - February 25, 2023
law firm ar
How Modern Law Firms Can Reduce Accounts Receivable

Mayowa Oyebadejo | Why does law firm AR pile up?

Mayowa Oyebadejo - October 10, 2022
buyer journey
Buyer Journey: What Lawyers Should Know About the Psychology of Paying for Goods and Services

Understanding the four stages of the buyer journey can point to ways to improve your marketing, practice management and payment systems.

Mayowa Oyebadejo - September 17, 2022
law firm accounts receivable
How Zero AR Can Transform Your Firm’s Cash Flow

To reach zero AR, firms must use batch billing processes and automatic withdrawals for payment.

Erika Winston - June 7, 2022
Headnote Is the Latest Addition to the ASG LegalTech Platform

Headnote is the fourth addition to ASG LegalTech’s platform, joining three legal practice management products: PracticePanther, Bill4Time and MerusCase.

Joan Feldman - September 22, 2020
mitigate write-offs
Four Ways to Avoid Write-offs

To mitigate the impact of write-offs — or even having to accept a total loss — aim to employ these best practices (and the technology to support them).

Sarah Schaaf - November 6, 2019
envelope

Welcome to Attorney at Work!

Sign up for our free newsletter.

x

All fields are required. By signing up, you are opting in to Attorney at Work's free practice tips newsletter and occasional emails with news and offers. By using this service, you indicate that you agree to our Terms and Conditions and have read and understand our Privacy Policy.