5 Best Law Firm Accounting Software Options in 2021

Cody Cromwell
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Top 5 Accounting Software for Law Firms 2021

Actually, most firms are way to much dependent on the existing accounting facilities. With due care, patience and of course availability of the desired accounting software software, it is possible to depend on the Software and spread the cost over a long period of time.

Firms are looking for a suitable software that can meet their varied needs of filing, accounting, payments, auditing and reporting. Even though their productivity has increased with the availability of such a software, they are faced with many issues that will limit their productivity and prevent them from optimising their workflow.

PCLaw: Best Overall Law Firm Accounting Software

PCLaw is a comprehensive law firm accounting software designed to handle the entire accounting and treasury process. It is also compatible with QuickBooks and other accounting programs. Available on the desktop and mobile, this is the only system that offers a wide range of features.

PCLaw offers a number of features and tools to make its use simpler and efficient. There are three ways to connect to the PCLaw accounting software. You can use the Accounting WebConnect, WebConnect Mobile, or WebConnect iPad application to perform all your accounting tasks.

It features a comprehensive set of report and analysis tools. Multiple people can access the system simultaneously. It is also mobile-friendly, enabling you to perform all your accounting tasks on the go.

PCLaw is a robust system that is perfect for a large law firm or business. But if you do not have a lot of accounting transactions, you can consider another system such as Yardi Accounting.

PCLaw Pricing

PCLaw Features

As part of our PCLaw research, we conducted a detailed assessment of the many features of the software. We paid special attention to the impact those features can have on the profitability of the firm.

Since it is unlikely that your first impression will be your last impression about a firm’s accounting software, I’ll start by writing about what I found very interesting about it.

I’m sure your field is as diverse as the company’s field of practice, and so is not limited to practicing attorneys. As an IT consultant, I am aware of the need to have solution oriented applications that can give businesses and professionals tools to manage their administrative and corporate tasks.

— The 5 Best Law Firm Accounting Software Options in 2021 —-

Since you have made the decision to switchover to an expense tracking program, and as you might already know, the discipline of accounting must have financial implications.

Therefore, in this post, I am going to discuss key features that I found intriguing about PCLaw that also ensure that your firm’s accounting software program must be able to offer you the features that serve as a solid foundation for your firm’s expenditure tracking program.

CosmoLex: Best All-in-One Cloud-Based Accounting Software for Law Firms

Most law firms today are fragmented into practices and individual attorneys often do not have the time or resources to assemble the right tools to manage their various aspects across the firm and within the practice department. CosmoLex is the right option for firms that are badly in need of easy-to-use software to handle the attorney’s daily tasks. Along with the software, CosmoLex will even help in automating the firm’s workflow and will change over time to improve engagement with the practice.

The program was developed with all the necessary tools to manage the work of a firm including a case management system, a calendar, time sheets and a mobile-friendly interface to keep those tasks to a minimum. This program is cloud-based and thus can be accessed from anyplace at any time. What’s more, it can be shared between multiple users to streamline the overall performance of the firm.

As for firm collaboration, CosmoLex provides a single-sign on feature that supports the firm’s management. The software can be accessed using dropbox, outlook and dropbox, to name a few. The program’s features also include an in-house invoicing system that eliminates the troubles of doing those clerical tasks. CosmoLex differentiates itself from other firm management software in that it works in a cloud-based system and has an extensive list of other features and components that is too long to mention in here.

CosmoLex Pricing

As an online accounting service, CosmoLex has great products and one of them is the CosmoLex Accounting Software. If you are a Lawyer or Law Firm looking for Accounting Software, you have come to the right place.

With this Accounting Software, you will have plenty of features to keep your balances up to date. Though it may not have all the features you are looking for, you have got to try it out or even the trial version.

CosmoLex Features

The CosmoLex Accounting software offers a comprehensive accounting suite that provides everything needed for completing your accounting tasks.

Time Tracking

CosmoLex enables employees to track all of their working hours for each day.

This lets you view all of the individuals working habits and productivity over a designated period of time. This also allows you to spot patterns such as consistent under or over-time and can form a basic understanding of the working habits of your employees.

This data allows you to streamline your business by eliminating unnecessary work while maintaining the quality of work.

Task Management

The task management tool lets you assign tasks to your employees. This is vital to organizing your workload and entering the correct information into your accounting system.

Each task can then be entered into the accounting system by your employee to be tracked and completed. All of information entered in this approach is kept up-to-date in the accounting system.

Time Card Entry

CosmoLex accounting software enables you to input data using an integrated time entry feature. This is great for those who wish to enter their working time using a barcode scanner.

LeanLaw: Best for Small Law Firms When Integrated With QuickBooks Online

LeanLaw Pricing

LeanLaw Features

Integrates with QuickBooks, Xero, and QuickBooks Online.

Weekly and Monthly Subscription Options …

While trial software generally has a time limit, you can try a fully functional demo of LeanLaw without having to worry about the expiration date. And you won’t have to enter your financials. There are weekly and monthly subscription plans for you to choose from.

TimeSolv: Best Integration for Law Firms Using Xero

TimeSolv Pricing

When you start researching a solution, don’t go out of your way to find –the best.” Rather, you need to find the solution that meets your needs within your budget. If you are comfortable with computer setup platforms, you will find a variety of software packages and add-ons that will suit your needs.

While TimeSolv is not the –best” accounting software it does the most things very well at an affordable price. That price is only going to go up as your practice gets bigger, you understand the features and how to use them.

Considering that TimeSolv suite is an open source suite, you have to pay very close attention to the softwares you are using. This is not a system that you can throw into your business and run off with.

You will understand the value of ·your ·accounting software as you see helping businesses just like yours grow. But remember, TimeSolv is not a requirement it is merely an excellent tool to assist you in your enterprise.

TimeSolv offers you a good solution at a great price. Time expenses are a crucial aspect of your business. You will want to make sure you are able to track all of your time activities and bill those associated hours to your clients.

TimeSolv Features

Zola Suite: Least-expensive All-in-One Cloud-based Solution

Zola Suite* is even less expensive but it has the limitation of requiring an internet connection to use. The cloud-based solution is a third cheaper than Google account while it provides the most in-depth analytics of Google account. It is now the top choice of accounting firm in the industry with more than 200+ happy customers, so it’s time to try our product.

It has the capability to provide you with a complete set of reports of your office. It helps you in your accounting activities by combining all the functions of accounting. It helps you in financial planning with the insights of automatic auditing. Its study report can be exported as a PDF to be sent to your clients.

Zola Suite Pricing

Unlike a standard finance system, Zola Finance is an accounting application integrated directly within the law firm management software. This means you have immediate access to financial input within the CRM system, including managing of receivables, expenses, contracts and cases, and payroll. One of the most powerful features of Zola Finance is the ability to select and track finance rules. In this way, you can capture receivables directly from customer invoices. Zola Finance also provides for a group of customers, which enables you to track several invoices in one “batch” of expenses and expenses.

Zola has three packages for users of the Zola Suite:

Zola Finance Pro: $ 10 per user / per month

Zola Finance Pro Review: $ 30 per user / per month

Zola Finance Enterprise: $ 50 per month

Evaluate (Zola Finance Pro and Pro Review) provides online invoicing, bills, estimates, contacts, and other features used as a law firm’s accounting system. The difference in Pro and Pro Review is that the Pro version of the Pro is user-friendly and more comprehensive. For example, the Pro version allows you to calculate what you can pay your bills, which automatically adjusts the amounts that remain to be paid.

Zola Suite Features

Bottom Line

Let’s first consider the general features of accounting software:

Accounting software that handles general accounting functions, does bookkeeping, and includes payroll is referred to as general-purpose accounting software. A separate piece of software is needed to handle payroll if you want to keep total work hours. If you want to keep visitor logs and time sheets, different software is needed; airtime management software and green software.

Accounting software that exclusively handles tax preparation is referred to as tax-preparation software. If you purchase tax-preparation software, your firm can recover tax-related costs by charging clients directly or by using the firm’s general-purpose accounting software.

Importance of Accounting Software for Small Law Firms

Clients expect a certain level of customer service quality for the full amount of services they are paying for. If your firm is expecting a quick turnaround with a small amount of work, you may want to consider using a faster tax preparation software or even a free online version.

While you’re at it, you want to make sure your firm has the right accounting software so that your clients don’t have issues with late or erroneous income tax returns. With accounting software, you can comply with IRS rules to reduce the likelihood of these issues.