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Billing management that can accommodate complex invoice generation, unique revenue models and more.
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The Invoiced Blog

Guides & Tools

The Guide to Automating Accounts Receivable for Law Firms

You can deliver the best service in town, but you won't stay in business if you can't collect your receivables. That's a universal business truth, but law firms face as tough a challenge as any. As you know, legal representation and advice is an intangible service that can't be repossessed or rolled back. Your invoices are often based on small increments of time, which are tedious to track. And billing often happens at month-end, sometimes well after the hours have been worked.

Without an efficient, organized system for managing accounts receivable, your law firm can easily find itself short on cash or failing to meet profitability targets. This is where an automated legal billing software can help. The right legal billing system can dramatically reduce the time you spend managing invoices and shorten your payment cycle.

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Automating Accounts Receivable Process

The Guide to Automating Accounts Receivable for Law Firms

The Unique Challenges of Legal Billing

The Unique Challenges of Legal Billing

Invoiced's automated attorney billing software addresses these challenges with thoughtful key features and modules.

1. You have clients on retainers.

The right system must do more than track hours against the retainer balance. It also needs to notify clients automatically when that balance gets low.

2. You bill on a case-by-case basis.

You customize billing arrangements to your client's situation. Your billing software has to be flexible enough to support those various payment structures.

3. Individual invoices can impact cash flow.

Even a single past-due invoice can wreak havoc on your cash flow.

4. You have limited time to worry about A/R.

Simply put, the more time you spend on A/R, the less efficient your firm is.

5. You handle sensitive information.

An information leak would damage your reputation and, possibly, the reputations of your clients.

6. You have to manage your client relationship, while getting paid for what you do.

A manual collections process can cause tensions with clients.

7. You have to comply with federal and state regulations.

Your invoices have to communicate charges and expenses clearly. That puts the burden on you to track small increments of time and to keep notes on the work completed.

The Unique Challenges of Legal Billing

The Benefits of Automating A/R for Attorneys

The Benefits of Automating A/R for Attorneys

Invoiced's automated attorney billing software addresses these challenges with thoughtful key features and modules.

Customer payment portal

A payment portal that gives your clients access to their bills, balances, subscription plans, autopay selections, and personal information can greatly reduce the time you and your staff spend answering A/R questions over the phone.

Subscription billing

More law firms are moving to a subscription model, where clients pay a flat monthly fee in return for agreed-upon hours of service. That removes surprises from the collections process, since the invoice remains consistent from month to month. With Invoiced, you can easily build customized and automated subscription plans that include trial periods, prorations, coupons, and even custom payment terms. Once the plan is set up, the system deploys the invoices automatically according to the rules you've established.

Installment plans

Large invoices can go unpaid simply because your client doesn't have the cash on hand. Invoiced addresses that issue by allowing customers to create their own personalized installment plans. You can also use the installment plan feature before you provide the services -- as a means of collecting a deposit. That improves your collection success and supports stronger client relationships.

Cash application

You don't have to spend your time manually associating payments with invoices. Invoiced's cash application uses a proprietary algorithm to scan bank feeds, spreadsheets, BAI files, or your virtual lockbox to match unapplied payments to invoices

The Benefits of Automating A/R for Attorneys

Automated A/R Integration for Law Firms

Automated A/R Integration for Law Firms

A key efficiency feature is out-of-the-box integration with your accounting software. You don't want to offset the time saved through automated invoicing and faster payment collection with manual recording tasks. Invoiced has seamless integration with the most popular accounting systems including QuickBooks and NetSuite.

You can also sync Invoiced to other applications, like Slack, Avala, Salesforce, or Collbox. Or, you can build a custom integration using the Invoiced API.

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Technology

It's cumbersome and risky to host billing software locally on a local server that you manage. Among other things, you'd need antivirus protocols, firewalls, offsite backups, and some type of VPN or secure connection to support remote access.A cloud-based system handles security, server and operating system stability, virus protection, and remote access for you. Invoiced is PCI compliant, which is the standard for companies that handle sensitive financial information. Invoiced can also be accessed securely from anywhere and from any device -- Mac, PC, or smartphone.



automated examples

Automating Your Law Firm's A/R

Legal Billing Software Success Stories

Automation of your law firm's A/R creates operating efficiencies, strengthens customers relationships, and shortens your payment cycle to improve your cash position. The right A/R system for law firms does more than streamline invoicing, collections, payments, and billing inquiries. It should also be flexible enough to handle your complex needs, which may include retainer agreements, subscription-based services, and installment plans. On top of that robust functionality, your billing software must be PCI compliant and accessible from any location or device.

Invoiced ticks all of these boxes and more. With Invoiced, you get paid faster, spend less time on A/R, and keep customers happier.

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