A lot goes into running a law firm, and the required administrative tasks can be extremely time consuming. That’s why TimeSolv offers a number of integration options that allow lawyers to synchronize data, time, documents, and expense data over a variety of commonly used platforms. One of the offered platforms is AccountEdge, a business accounting software that can be used by MAC and PC users.
This post will explore the features of AccountEdge and how law firms can get the most out of the platform by using it in conjunction with TImeSolv legal billing software. So, if you’re looking for a new accounting program for your firm, keep reading to learn how the two programs can work together for the benefit of your legal practice.
What AccountEdge Offers
Formerly known as MYOB, AccountEdge is designed to assist small businesses with their accounting needs. It provides law firms with the following features:
- Banking management, including check writing, deposit preparation, and account reconciliation
- Customer management, such as customer tracking and vendor information storage
- Various business reporting capabilities
- Full-service payroll management
- Credit card processing capabilities
Along with these basic accounting capabilities, AccountEdge also offers accounting systems tailored to the specific needs of legal practices. With no monthly subscription requirements, the system allows attorneys to maintain client contact information, to include up to five addresses, emails, phone numbers, and other essential details. The system also allows law firms to attach representation agreements directly to client contact cards and set appointment reminders as needed.
After a one-time initial purchase, law firms own the AccountEdge software, along with any financial data that has been added to it. The company offers annual upgrades at a discounted price for attorneys that want their latest and greatest accounting capabilities. According to the company, when compared to their competitors the cost to own the software helps law firms “spend hundreds not thousands.”
Here are some of the other ways law firms can benefit from AccountEdge:
- The command center allows attorneys to run reports regarding all aspects of their law firms, including such metrics as sales and invoicing, purchases, payroll, and inventory. Users can also handle your own payroll and utilize the program’s direct deposit options to pay employees. Users can also subscribe to the company’s Payroll Tax Service and get the most up to date forms with Payroll Forms Service.
- For attorneys who prefer not to handle payroll, AccountEdge offers payroll outsourcing through their full-service option.
- AccountEdge’s command centers helps lawyers run and report on various business aspects of their legal practices, including sales and invoicing, purchases, payroll, time billing, and more. And for times when attorneys need to perform key accounting functions remotely, they offer an optional collaboration app, AccountEdge Connect.
- AccountEdge Mobile is a free companion app for the company’s pro version. It allows users to add or edit clients and matters. They can also record expenses and track mileage, all from any iOS device.
TimeSolv legal billing system includes AccountEdge among its integrated accounting options. Through the integrated system, users can export invoices, payments, write-offs, trust deposits, and disbursements directly from TimeSolv to AccountEdge.
To help attorneys get the most out of this integration, TimeSolv categorizes each task with a specific debit or credit account. They only need to enter data once. The system then syncs the information between AccountEdge and TimeSolv. Everyone is on the same page, with consistent formatting and labeling across all platforms. Within TimeSolv, clients and matters can also be classified into various account groups within AccountEdge for invoice and payment records.
Click here to learn more about how TImeSolv streamlines your business process through a seamless integration with AccountEdge.