Best Law Firm Accounting Software

bookkeeping software for small law firm

In that case, you can also generate pay runs with the click of a button, for better efficiency. Accountants play an integral role in every business—law firms are no different. Legal accountants often prepare financial statements, help with forecasting, and record expenses.

  • If your firm’s users tend to need more technical support when learning a new tool, look for options that are easy to navigate and offer personalized customer support.
  • It may also be helpful to read law firm accounting software reviews to get an idea of the user experience of other firms who have tried the potential software before you.
  • Trialing a free application is a low-risk way for solo attorneys and small firms to get acquainted with different accounting software for lawyers.
  • Any connections between you, your bank accounts, and Wave are protected by 256-bit SSL encryption.
  • Generally speaking, a combined billing, case management and accounting solution will give you the most flexibility since it can utilize a wider variety of data for reporting purposes.
  • There is no additional fee for users which is common in other accounting software services on this list.

We recommend QuickBooks Plus and Advanced in order to get the most from your legal billing software. Both plans allow you to get a more granular view of your practice and track billable law firm bookkeeping hours by client, case, and employee. Manually preparing invoices and following up on payments is time-consuming, inefficient, and sometimes detrimental to healthy client relationships.

PCLaw: best law firm accounting software for large companies

Without regular—and accurate—financial reporting, you may not see potential opportunities, and smaller problems may inadvertently escalate. When it comes to financial records at your practice, accuracy should come above all else. Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. CosmoLex is cloud-based, which means you run the software from a web browser.

You’ll be able to import bank statements, run trust accounting reports, and print disbursements checks, all from one platform. Then, those can be posted directly into your accounting software, while a PDF of the invoice is pushed into your Xero accounting system. This makes all your documents easily accessible for when you are reviewing that accounting entry. In this
4-hour course, we outline our start to finish process for trust accounting in Clio, plus provide tips and best practices for working efficiently and staying organized. If you aren’t doing a 5-way trust bank reconciliation, you are not compliant.

QuickBooks Online

The support staff have been excellent and resolve any issues quickly. PCLaw has made its name a one-stop shop that works well in any situation, especially with large law firms. Everything a big operation could want and need from an accounting software solution is available through PCLaw.

  • Accounting software options that are specific to law offices will ensure confidential client information is stored properly and complies with data security laws.
  • This is where accounting software that integrates with your legal practice management software can prove especially useful.
  • To get accurate pricing for your firm, you will need to complete PCLaw’s web form and schedule a demo and consultation.
  • No matter what your specific needs are, it’s important to take stock of the features that are most important to achieving your goals.
  • It offers most—if not all—of the tools, other software options, and some of its unique features, most notably various management capabilities.

The best feature of LeanLaw, though, is its ability to keep your trust accounts updated and reconciled automatically. If you’ve ever dealt with an out-of-balance IOLTA, you know what a nightmare it can be to locate and resolve the discrepancy. You install a lightweight desktop application on your Windows PC, but the core of the software (and data) is stored on LEAP’s cloud platform. Tabs3 has been around a long time, and has a reputation for being a robust accounting platform, backed by excellent user support.