Expert Legal Billing and Receivables Management
Legal billing services and receivables management services are vital to optimizing income and interest and, to a slightly lesser degree, maintaining your good credit standing.
However, the last thing you need to devote your time to are the day-to-day demands of sound legal billing and receivables management. Are your invoices complete? Are they mailed on time each month? What about statements? Are your accounts current? Accurate? Which of your clients are delinquent? To what degree? How are your clients paying you? Have you reconciled your invoices to incoming payments this week?
Not only do these concerns distract you from your core business. They also consume an inordinate amount of time, which can impact billable hours. But with Legal Edge Services as your partner, you can offload these concerns to our skilled, experienced legal accountants.
Most attorneys only collect 86 cents per dollar billed
Attorneys live with write-offs that average as much as 14% of their total billing, according to a recent article in Attorney At Work. And write-offs are becoming more common as solo lawyers and small firms not only practice law but also run the business side, including billing, accounts receivable, and collections. The fact is, for busy attorneys it’s often easier to offer a discount on a bill that’s 60, 90 or 120 days past due that it is to collect the full amount.
If this scenario sounds familiar, talk to the team at Legal Edge Services. We can serve as your legal bookkeeping and billing service. And that means performing all of the routine and onerous tasks required, including collections. So that you can do what you love most: practice law.
Complete billing and receivables management services
Our team uses industry-leading QuickBooks software for receivables management, payables management, legal billing, legal bookkeeping, and related accounting services. QuickBooks consistently ranks #1 in its class, and enables us to generate a wide variety of reports, charts, invoices and statements on a scheduled or on-request basis.
Our legal billing and receivables management services include:
- Billing production and quality assurance
- Invoice printing, stamping, mailing and reconciliation
- Statement printing, stamping and mailing
- Recording cash, check and credit card payments
- Posting revenues
- Updating receivables by totaling unpaid invoices
- Researching and resolving account discrepancies
- Entering adjustments as required, with approvals
- Maintaining complete, accurate and auditable records
- Performing all tasks with full confidentiality
Keep your billable hours up to par
Don’t allow routine tasks to reduce your billable hours or client development efforts. And don’t let your stress and wasted time get out of control. Legal billing and receivables management services from Legal Edge Services can help you optimize income and interest going forward.
To learn more about our solutions and how they can help your legal practice, or to request an office tour, call us at 305.728.5300 or email us at Info@LegalEdgeServices.com.