Key Takeaways
- Distinguish billing features from complete legal accounting.
- Evaluate matter-level financials, trust, reconciliation, and reporting.
- Connect financial workflows to client and matter data where possible.
Why does this matter financially?
Law firms should evaluate this topic in the context of their workflows, users, data, security, integrations, and long-term technology strategy.
What should accounting teams evaluate?
Accounting teams should evaluate how the system handles matter-level financials, billing workflows, trust, receivables, payables, general ledger, reconciliation, reporting, and attorney or client-specific requirements.
How can integration change the workflow?
Connecting legal operations and accounting can reduce duplicate posting, simplify reconciliation, and improve visibility from work performed through billing, collection, and financial reporting.
How does PerfectLaw relate to this topic?
PerfectLaw Back Office combines time and billing with accounts payable, general ledger, trust accounting, collections, conflict checking, and management reporting in the broader PerfectLaw environment.
Frequently Asked Questions
Why do matter-level financials matter?
Law firms operate around clients and matters, so financial reporting often needs to connect revenue, cost, trust, work, and collections to those records.
Can firms use separate billing and accounting systems?
Yes, but they should evaluate integration, duplicate posting, reconciliation effort, reporting, and vendor coordination.
Should accounting users participate in software evaluation?
Yes. Accounting requirements can be substantially more complex than the billing features seen by attorneys.
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