TimeSolv Legal: The Essential Practice Management Tool for Law Firms

Developed in 1999, TimeSolv has emerged as the leader in time & expense tracking, billing, and management needs for businesses around the world. Our software is used by thousands of professionals in various industries, including legal, technology, engineering, health, marketing, design, and advertising. Raza Hasan, the TimeSolv CEO explains, ‘We believe in providing the best time billing services for law firms and other professionals.’ Let’s take a look at some of the incredible tools offered to our TimeSolv Pro users.

 

Time Tracking

The phrase ‘time is money’ is so popular, because it’s true. TimeSolv understands how precious time is to an attorney. We have created a software that aims you never lose another minute of your time. Every minute recorded means more revenue for the firm. Our time tracking software provides access anywhere, anytime, and on any device. Users can even switch effortlessly between devices such as your PC, Mac, iPhone or Android smartphone, or tablet.

  • Track Time Anywhere – Any device, any time of day. Even offline.
  • Run Multiple Timers – Track several tasks simultaneously.
  • Custom Abbreviations – Create uniform language for the entire firm and save time while making entries.
  • Categorize Entries – ABA task codes for LEDES billing built-in.
  • Stay On Budget – Create limits on hours billed for tasks.
  • Sync Everything – Our TimeSync desktop app means you can track time without your browser open or offline.
  • Organize Your Hours – Know how many hours you’ve billed by day, week and month at a glance.

 

Invoicing

If you bill faster, you will get paid faster. Every minute you spend working on an invoice means one less minute of billable time. With TimeSolv, not only will you get your bills out faster, you will avoid being inundated with questions over the details of the invoice with our flexible templates feature. Users can send bills anyway the client wants – in the mail, via email, or we’ll even mail them for you! And with our Client Portal integrated with LawPay, you’ll get paid faster. From LEDES billing and automatic tax calculations to custom narratives and easy-to-apply discounts, we’ve got you covered.

  • Flexible Billing Templates – Create individualized bills.
  • Split Billing – Customize how to divide an invoice and percentages of who pays.
  • Get Paid Faster – Clients can pay you online.
  • Batch Invoices – Send all your bills with one click.
  • Choose Fixed Fee – Fulfill any billing arrangement.
  • Adjust Invoice Tools – Make any edits or adjustments right from the draft bill.
  • Bill Electronically – ABA task codes, UTBMS, LEDES 1998b, LEDES 1998BI, Chubbs, Litigation Advisor.
  • AutoMail – Allows you to choose to have us send the invoices for you in the mail.

 

Reporting

Running an organization means you need to be able to see the whole picture. Gain fresh insights into your business with 31 different reports for law firms and other businesses covering billable hours, accounts receivable, expense tracking, performance, and so much more. TimeSolv allows you stay on top of your business’ performance with a simple interface. You’ll find powerful information right at your fingertips every time you access it. Our insightful reports can be viewed and shared in 10 formats, including PDF, Excel, Word, and more.

  • Multiple Reports and Formats – 31 different reports in 10 formats. We got you covered.
  • Stay on Top of Accounting – Group your Accounts Receivable by the client, see lists and invoices.
  • Firm Performance – See how you’re doing on budget vs. billed, who your most profitable timekeeper is and more!
  • Invoices, Payments, and Trusts – Six reports to choose from, ranging from aged invoices to cash receipts and trust banking.
  • Managing Projects – See how resources are allocated along with the details of all budgeted matters.
  • Time Tracking – Hours missed by the timekeeper, task summaries, all time and expense entries.

 

Budgeting

Budgeting allows you to forecast the profitability of your firm. With the ability to create estimates and establish profitable fixed fees for your clients, you’ll never be in the dark again with your forecasting. The bottom line is your firm’s profit. Using TimeSolv’s project management tools means you can calculate that profit to ensure growth year over year.

  • Estimate Matter CostsAccurately determine costs for time and expenses on a matter by matter basis.
  • Profitable Fixed Fees – With detailed project plans, you can confidently quote a fixed fee that will ensure profits.
  • Budget Reports – See your plan in action with real-time reports that show how a matter is progressing against the budget.

 

Expense Tracking

Our expense tracking software ensures every business expense is organized, accessible, and comprehensible. Gone are the days of paper bills, Excel spreadsheets, and crumpled receipts. TimeSolv lets you enter expenses from anywhere through our TimeSync app, even without internet access.

  • Track Expenses Anywhere – Any device, any time of day. Even offline with our TimeSync app.
  • View Expenses – Quick calendar view shows expenses by the day, week and month.
  • Custom Abbreviations – Create uniform language for the entire firm and save time while making entries.
  • Attach Receipts – Upload your expense receipts and attach to invoices.
  • Categorize Entries – ABA task codes for LEDES billing built-in.
  • Stay On Budget – Limit the billable expenses on a project or matter.
  • Sync Everything – Expenses paid in QuickBooks can be sent to TimeSolv for billing a client.
  • Stay Abreast – Wide variety of easy-to-understand reports available in 10 different formats.

 

Trust Accounting

Manage your Trust accounts with TimeSolv and pay invoices automatically from Trust, replenish if below your designated level. Trust accounting is a unique complication for law firms and there are severe penalties if not done right. TimeSolv allows you to manage your Trust payments easily and quickly. You can also auto-pay invoices from your Trust account as well as place replenishment funds onto an invoice automatically when the Trust falls below the threshold you designate.

  • Autopay invoices from Trust – When invoices are sent, they’re marked automatically paid and the fee is deducted from Trust account.
  • Replenish Trust Automatically – Have replenishment amount automatically added to invoices when the account falls below the threshold.
  • Pay Trust account with Credit Card – With integrated LawPay Client Portal, your clients can quickly and easily add to their Trust account.
  • Multiple Accounts – Create as many IOLTA (or COLTAF) accounts as necessary and as many accounts as needed for a matter.
  • Transfer Funds Between Accounts – When handling different matters for a client, transfer funds between matter trust accounts, if necessary.
  • Detailed Reporting – Use our Trust banking report to perform monthly bank reconciliation.

 

Document Automation

TimeSolv allows its users to access documents from a computer or tablet at any time. Our secure servers host your project files. TimeSolv’s document management feature provides storage from the same secure cloud environment as your invoices. Your documents are attached to your projects and matters and you can create tags and folders to keep your information organized. Document automation means creating custom documents containing unique client and matter information. You can host multiple versions and easily see who edited the documents. Our quick view lets you preview your documents before opening.

  • Matter/Project Directory – Save your documents at the matter or project level.
  • Document AutomationCreate custom documents from client and matter information in TimeSolv.
  • Unlimited Hierarchy – Create as many folders and subfolders as you need for each of your matters or projects to stay organized.
  • Custom Tags – Create your own tags for documents so you can easily find similar files across all your clients and matters or projects.
  • Quick View – Quickly and easily view the files in our quick view window before you download the file.
  • Document Descriptions – Add a description to your files so others can see what’s contained in the documents before viewing or downloading.
  • Multiple Versions – Create and store multiple versions of documents and describe the changes made.

 

Project Management

Projects that are on time and on budget. As a project manager, you have to be flexible, organized, and ready to tackle problems whenever they arise. That’s why you need comprehensive project management time tracking software that makes it easy to keep everything on schedule and on budget. TimeSolv ensures that each project is clearly broken down by tasks, helping you easily monitor progress from anywhere. Plus, you can compile easy-to-understand invoicing for your clients and keep within your budget by assigning limits to billed hours.

  • Set Milestones – Generate automatic invoices once certain milestones in a matter are reached.
  • Stay On BudgetTrack your budget in real time against your time entries, choose to authorize overtime or limit billable hours.
  • Establish Fixed Fees – Our budgeting tools allow you to establish fixed fees. Save a matter as a template for future use.
  • Keep Informed – See how much progress has been made on a task, see your billing, time tracking, milestones and synced calendar at your fingertips.
  • Share Information – Easily share with both clients and employees the matter plan and budget.

During registration, you can select your profession and TimeSolv Pro will configure to your specific needs. We offer unlimited projects and clients, unlimited document storage, flexible invoicing options to bill your clients for fixed fees or for time and materials, the ability to create multiple billing templates specific to your client’s needs, multi-step approval process for approval of time or expense entries, accounting features enable you to manage your accounts receivables, and 31+ reports to ensure that you can manage your business effectively.

What’s more is that there are no contracts, you will receive free one-on-one training sessions and industry-specific features. Click here now to check out our TimeSolv Pro pricing plan.