Expert Legal Billing and Receivables Management
Billing services and receivables management services are vital to optimize income and interest for your law practice. In addition, they help maintain your good credit standing.
However, various accounting and bookkeeping tasks are the last thing you need to spend your time on. And you shouldn’t have to worry about your accounts. For example, are your invoices complete? Are they mailed on time each month? What about statements? Are your accounts current? Accurate? Are any of your clients delinquent? To what extent? 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 are also detailed and time-consuming, which can impact your 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
Unfortunately, attorneys live with write-offs that average as much as 14% of their total billing, according to an article in Attorney At Work. And write-offs are becoming more common as solo lawyers and small firms not only practice law but also try to run the business side. And deal with billing, accounts receivable, 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 than 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 we’ll perform all of the routine and onerous tasks, including collections. So that you can do what you love most: practice law.
Complete billing and receivables management
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. It 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
Recent surveys show that attorneys spend anywhere from 28% to 48% of their time on unbillable administrative tasks. 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 from Legal Edge Services can help you optimize income and run a better business.
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.