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Trust Accounting

Easy, intuitive data entry interface for time, expenses, billing, payments, writeoffs, and trust and retainer processing

The PerfectLaw® Time and Billing System records and tracks time, expenses, bills, receivables, write-offs and trust accounting. The All-in One® database interfaces directly with all PerfectLaw® modules, including Accounts Payable, General Ledger, and all Front Office modules.

  • The system supports complex billing procedures for electronic and task based billing as well as a wide variety of billing formats and customer statements
  • Effortless transaction processing ensures that your firm will capitalize on every potential opportunity to maximize revenue
  • Unsurpassed flexibility allows billing at the client and/or the matter level, split and multi billing
  • Virtually unlimited billing editing capacity, including individual or group write ups/downs, time transfers, holds and more
  • Easy, intuitive data entry interface for time, expenses, billing, payments, writeoffs, and trust and retainer processing
  • Bill images are saved and profiled for future reference by all authorized personnel, including front office staff
  • AP invoice images created with Paperless Workflow® can be automatically included with bills submitted to the client as evidence of the expense
  • Electronic billing includes several industry standard formats
  • Use ABA task lists or create custom lists to conform with client requirements
  • Interface with third-party cost recovery systems to maximize overhead billing
  • Matter-level trust accounting ensures matter balances are not overdrawn
  • Various transaction auditing options are offered allowing you to monitor who is making changes
  • Available billing compliance module alerts users when 'bad words' are used or task budget limits are approaching
  • Rates can be set by timekeeper, timekeeper type, matter, and more, with flexibility for hourly or flat fee billing
  • Cash receipt and writeoff application at any level of detail: client, matter, bill, all the way down to timekeeper
  • Advanced searching capabilities allow bills to be searched by almost any property when client and/or matter is not apparent

 

Functions

  • Real-time stopwatch to track time on activities in progress
  • Electronic billing that includes several industry standard formats
  • Client and matter level billing
  • Attach images of invoices and other supporting documentation to client bills with Paperless Workflow®
  • Task based and electronic billing
  • Trust and retainer tracking and accounting
  • Export bills in multiple formats
  • Record and monitor retainer balances
  • Report and analyze attorney productivity for work-in-process, billing, and cash receipts
  • Dimensional analysis of billings, receivables, and attorney productivity
  • Monitor and capture cost recovery for client-related expenditures
  • Time values are automatically calculated during data entry and editing
  • Audit log of timeline changes recording who made what changes when
  • Transfer time and expenses from one matter to another in one step
  • Trust and prepaid/retainer tracking of funds applied to bills
  • Apply and/or reallocate cash receipts by client, matter, or bill with audit tracking
  • Interface to popular cost capturing products such as Equitrac or CopyTrac, to automatically recover copy, fax, phone, and postage charges

Benefits

  • Simple, efficient time keeping system for attorneys
  • Powerful bill editing and processing design promotes maximum productivity
  • Attractive, easy to read bill formats result in fewer client questions and faster payment
  • Flexible drill-down report analysis options promote better informed decisions
  • Trust, retainer, and unapplied fund standards and regulations ensures compliance with ethical practices
  • Flexible billing allows for editing and reprinting as often as needed before posting, minimizing the need for reverse billing