Efficiency Unleashed: Simplifying Legal Billing with TimeSolv

Law firms, from boutique to Big Law, all face the same task set when handling their legal billing processes: create accurate time records, generate prompt invoices, deliver them to clients, and process payments, all without compromising billable hours.  

However, how these tasks are handled has changed greatly over the years. Gone are the days of non-digital processes (paper invoice delivery, phone call follow-ups, and pay-by-check). Law firms now have a plethora of digital options they can use to handle billing.  

But just because there are lots of options available doesn’t mean they solve problems equally.  

Legal professionals need tools that streamline legal billing processes, ensure accuracy, and support efficiency. Solutions like TimeSolv can help them get the job done.   

The complexities of legal billing 

The legal billing process comes with a host of complexities that law firms must navigate. From a bird’s eye view, these important but involved processes include (but aren’t limited to):  

• Accurately tracking billable hours, non-billable hours, and expenses 
• Efficiently generating and delivering invoices  
• Identifying fee structures and payment options that work for clients and your firm 
• Getting paid in a timely manner to avoid cash flow crunches 
• Avoiding compliance missteps 

But the good news is that legal billing doesn’t have to be overly complex, and it doesn’t have to eat up your valuable time.  

TimeSolv’s approach to legal billing: 

Our legal software was developed to make the legal billing process more straightforward—by focusing on essential functionalities and removing unnecessary complexities from the billing process, TimeSolv provides an effective tool for law firms. 

From time-tracking solutions to keep all your hours logged accurately to customizable invoice templates to make billing your clients a snap, TimeSolv has plenty of solutions from which your firm can benefit. 

Tracking unbilled time and expenses 

One of TimeSolv’s key features is its ability to track your unbilled time and expenses to ensure that no billable activity is overlooked, which enhances your profitability and streamlines the billing process.  

Here’s a closer look at how you can make TimeSolv work for you: 

• Intuitive time-tracking: Accurately log time spent on various tasks with a convenient running timer that can be started with the click of a button. Work on a matter while you were away from the keyboard? TimeSolv also includes the ability to manually enter time records.  
• Detailed expense management: Easily enter expenses, attach digital receipts, and categorize these expenditures for specific client matters to ensure that all reimbursable expenses are documented and ready to be included in client invoices 
• Mobile time and expense entries: Efficiently capture time and expenses directly from your mobile device no matter where you’re located. 
• Comprehensive billed time and expense reports: Generate insightful reports on united time and expenses for a full overview of billable activities yet to be invoiced so you can conduct thorough reviews and ensure that no billable work is omitted from invoices. 

Customize your legal billing 

We know that law firms have diverse needs—that’s why TimeSolv provides customizations at multiple levels.  

To start, TimeSolv makes it simple for law firms to build unique invoice templates. Create templates to match your branding, as well as practice-area-specific and client-specific needs.  

You can also tailor fee structures with TimeSolv, whether you need flat fee billing for contract review services or contingency fees for your personal injury firm. This flexibility has the power to increase client satisfaction and get you paid faster.  

Secure payments—and your cash flow 

Today, the question isn’t just, “Does your law firm accept credit cards?” It’s also, “How does your law firm accept them?” 

Using the right payment processor for your law firm is instrumental in getting the results you want. TimeSolvPay allows legal practices to accept online payments, as well as:  

• Quickly allocate payments  
• Submit payments via secure client portal 
• Store payment information  
• Run payments in batches  
• Issue refunds and credits  
• Sync to QuickBooks or Xero 

All these capabilities add up to easier payment processes, fast payments, and a more secure cash flow.  

Achieving compliance without adding extra steps 

TimeSolv has robust features that help law firms with legal industry compliance regulations for billing practices and trust accounting. With TimeSolv, you can: 

• Track time more accurately 
• Generate detailed invoices 
• Automate trust transactions 
• Monitor funds in trust accounts 
• Request and replenish funds via TimeSolvPay 

By enabling precise customization of billing practices and detailed documentation for every transaction, TimeSolv minimizes the potential for billing disputes and ensures that your clients know you’re always on the up and up when it comes to what’s being billed. 

Enhancing efficiency in legal billing 

While we could spend all day telling you about the amazing features TimeSolv provides for law firms, we think it’s worth exploring a few scenarios that demonstrate what our software can do for your firm: 

Scenario 1: Transforming time-tracking and invoice processing for a mid-sized law firm 

The inefficiencies of manual time tracking and disjointed billing systems bog down a mid-sized law firm. The firm frequently has problems with inaccuracies in billable hours and delays with generating invoices, negatively impacting its cash flow and client relationships. 

The TimeSolv solution 

TimeSolv’s intuitive time-tracking solution enables the lawyers at this firm to accurately log their hours in real-time, reducing lost billable time, and the automated invoice generation feature streamlines the creation of invoices, cutting down the processing time from weeks to a matter of days. 

This not only improves the firm’s cash flow with faster payments but also enhances accuracy, significantly reducing billing errors. As a result, this firm sees an uptick in efficiency, allowing attorneys to spend more time working with clients instead of trying to correct their mistakes. 

Scenario 2: Streamlining project billing and enhancing client satisfaction for an intellectual property law firm 

A boutique law firm specializing in intellectual property is struggling with the complexities of adhering to varied client billing guidelines and managing project-based billing efficiently. These issues hinder compliance with billing practices and negatively impact client satisfaction. 

The TimeSolv solution 

With the adoption of TimeSolv, this firm benefits from the software’s customizable invoice templates, which allow the firm to easily adapt to the specific billing requirements of each client, ensuring that they’re adhering to billing requirements and enhancing client trust. 

On top of this, TimeSolv’s project billing features enable the firm to manage expenses and hours per project more precisely. This ultimately streamlines the billing process and facilitates clearer communication with clients on billing matters. 

Unleash your efficiency with TimeSolv 

If you’re bogged down under the weight of inefficient billing processes or dealing with software that wasn’t designed with the legal field in mind, it’s time for an upgrade. TimeSolv has the tools you need to take your processes to the next level and unleash your efficiency, including: 

• Time and expense tracking that ensures you’re recording every billable expense with the click of a button 
• Easy-to-use invoice templates that accommodate any billing scenario 
• Built-in TimeSolvPay, which makes it a breeze to collect, record, and allocate payments, getting you paid faster 
• Dashboards and advanced reporting to track your progress and make data-driven business decisions 

Ready to see what TimeSolv can do for you? Sign up for a free trial today.   

More useful posts:

7 Ways to Improve Your Law Firm Profitability with Zero AR & More Billable Time

ZERO AR: How to Achieve ZERO Accounts Receivable with TimeSolv and Batch Client Payments  

Is Your Legal Billing System’s Invoice Reconciliation Broken? Here’s How to Fix It