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The Law School Student’s Ultimate Guide To Digital Competency

April 3, 2019 By Andrew McDermott Leave a Comment

digital competency blog post feature image

Almost all of them are in debt.

The vast majority of law students graduate with an avalanche of debt. U.S. News wanted to answer a simple question. Which law school graduates have the most debt?

The answer is sobering.

In every law school except two, more than half the student population graduated heavily in debt. In some schools like the Southern University Law Center or Florida A&M University, 100 percent of their students graduated with debt ($94,447 and $61,500 respectively).

Debit is a facilitator and Law school is a worthwhile pursuit

This isn’t a tongue-in-cheek claim.

The data shows that most of the time, law school is absolutely worth it for graduates. If graduates are able to land a job with the right firm, their career is off to a fantastic and promising start.

Turns out that’s a big if.

According to Law School Transparency, the resultant debt from the average amount borrowed is $120,000. New graduates at the lowest end of the spectrum make $50,000 annually, those on the highest end make $190,000.

loan payment graph for law students

It’s not ideal but a graduate making $50,000 per year can still make headway, build a successful career and pay down their loan.

Certainly not ideal, but it can work.

Here’s the problem.

Law school graduates aren’t winning the jobs and opportunities they need. Don’t take my word for it. Let’s look at the data instead to be sure.

According to Paul L. Caron, Dean Pepperdine University School of Law, demand for legal services is declining. The number of graduates has also decreased.

TaxProf graph showing the number of law graduates from ABA accredited law schools

The ABA Journal released a report showing that less than half of graduates had jobs before graduation. The evidence shows a large segment of the law school population doesn’t fare any better post-graduation.

Perhaps this is good news?

Not so much. The percentage of grads employed in (full time/long term) jobs is up, but the total number of opportunities decreased from 28,029 to 26,923. The Bureau of Labor Statistics confirms this stating:

“Competition for jobs over the next 10 years is expected to be strong because more students graduate from law school each year than there are jobs available.“

There are lots of graduates and but there’s not enough employment opportunities to go around. Here’s what this means for you.

If you’re a law student you need an edge.

You need a mix of both quantitative and qualitative skills to succeed in the highly competitive environment you’re already swimming in. When I use the words quantitative and qualitative here’s what I mean.

Quantitative skills Qualitative skills
Conscientiousness (high) Agreeableness (high)
Good written/oral communication Openness (high)
Analytical and logical reasoning (high) Neuroticism (low)
Research skills (high) Organization
Knowledge of substantive law and legal procedure Teamwork
Time management Attention to detail

These skills are the basics.

Here’s the problem with this list of skills. They’re useful but they’re also quite generic. If you’re a graduate who’s looking to attract a significant amount of employer attention you’re going to need more help.

Dr. Bradford Smart has the answer.

Dr. Smart is the co-founder of Topgrading, a hiring and interviewing methodology that helps firms to identify A player, top-shelf employees. In his book, Smart lists 60+ core competencies an A player needs to qualify as an “A player.”

Here are the behaviors or core competencies that are required for A players. Some of these competencies are easy to change if you don’t have them. Others are harder change, some are virtually impossible.

Core Competencies image adapted from Topgrading, provided by Doug Wick

See what I mean?

If you’ve read this far you probably have the same questions as other readers. This post is supposed to be about digital competency. Why are we talking about job skills, hireability, and core competencies?

Competencies determine success.

These core competencies are the beginning, the foundation that your digital competency needs to be successful.

Here’s why.

Sharing the strategies needed to build digital competency, win your coveted spot in the right firm and keep your position requires these core competencies.

Advice without context creates resistance.

Digital competency is a proxy for… something else

It’s one of the tools law firms use to evaluate, rate and vet potential graduates/candidates. It’s something most graduates won’t do.

Meaning what exactly?

When it comes to digital competency, law firms are focused on very specific details. Law firms, like their clients, are under a significant amount of pressure to perform. They need new associates (recent graduates), who can hit the ground running. These are the graduates who consistently win excellent positions with well-paying firms.

What do these graduates have that others don’t?

Let’s take a look at the specific details you’ll need to achieve the competency you want.

Step #1: Assess your digital competency

You’re aware of the requirements that come with digital competency and why they’re important. You’re also aware of the consequences, how they impact you and your future firm. Here are a few questions you can ask yourself to assess your level of digital competency.

You…

  • Understand the pros and cons of online storage options (g. cloud, hard drive and portable storage)
  • Know/can identify the appropriate format to store data as well as when each format should be used (e. client data stored on secure hard drives, contract templates stored on cloud document management portals)
  • Understand how search engines like Google store, classify and retrieve information
  • Know how the Internet works (i.e. it’s a giant network), how people, private companies and governments use it
  • Are aware of the various digital services (g. document assembly/management, timekeeping tools, practice management software, e-discovery software, etc.) the formats available (e.g. On-premise, SaaS, IaaS and PaaS software) and you know how to use them
  • Understand the consequences of communicating through various media channels (g. phone, chat, video, text, social media, etc.)
  • Understand the consequences of identity contribution (g. discussing a client’s matter or sharing private information on social media)
  • Can easily distinguish between personal/public information and sensitive data
  • Have a professional understanding of legal frames (g. how the law governs rumors, gossip, spam, intellectual property, private data, threats, accusations, etc.)
  • Have a general understanding of security best practices (g. following best practices for creating, storing and retrieving passwords)
  • know how to encrypt sensitive data (g. two-factor authentication, encryption, password protection or digital fingerprints)
  • Know of/have various methods to identify fishing, malware and social engineering attacks
  • Have the capacity to learn and/or manage new software/technology on your own
  • Have a methodology or protocols in place to personally stay up-to-date with technology changes
  • Can perform an in-depth search of information/footprints about yourself and others
  • Have a habit of routinely backing up and restoring relevant digital devices and data
  • Can competently make a determination of illegal vs. inappropriate behavior (g. bullying vs. leaking secrets)
  • Consistently consider the source and location of the data you receive
  • Familiar with the terms and conditions of your digital services (g. Avvo’s terms of use)
  • Communicate digitally with the appropriate voice, tone and detail

If you’re feeling brave you can take the quiz.

Can you see how many of these questions communicate the core competencies we identified earlier? These details, things your future employer can see, communicates details about you they can’t see.

Step #2: Become acquainted with the software

Your (future) firm needs new associates, graduates who can hit the ground running (you). This means you’ll need a clear idea of the software tools and resources your firm uses to serve its clients.

Isn’t this a bad idea?

Let’s say you learn to use a particular piece of software. You’re hired on at a fantastic law firm but you find the software they use is different. Wouldn’t that mean it’s all for nothing?

Absolutely not.

When it comes to software, there’s a significant amount of overlap. The specific software tool you use isn’t as important as you familiarizing yourself with them. If you’re familiar with the details of one software vendor you’ll have an easier time learning (or re-learning) the details of another tool.

Okay, which software tools do you need?

Practice management

Practice management software actually refers to a suite of tools firms can use to manage their operations. Most attorneys spend 6 to 8 hours a day on nonbillable work. They’re essentially paid for one to three hours of work per day.

Not good.

Practice management software includes some or all of the specific functions listed below. Practice management software is important for a few distinct reasons.

  1. The software and forces firm-wide standards. When attorneys track their time, the entire firm relies on a unified measurement of time. This eliminates the everyman for him/herself scenarios that are so common in firms today.
  2. Practice management software boost revenue by 50% or more. Most firms bill for their time. Attorneys who wait one week to fill out their timesheets lose 50% of their revenue. Attorneys in many firms typically fill out their timesheets at the end of the month. Yikes.
  3. Security and disaster recovery are built-in. Cybercriminals target law firms because they’re data-rich sources with deep pockets. Law firms are prime targets for ransomware, malware and phishing schemes. Cloud-based practice management software reduces these threats dramatically, limiting the amount of data available to cybercriminals.

Productivity/project management

Productivity software enables firms to manage who’s responsible for what and when. Firms are able to manage deadlines and the distribution of work automatically. These productivity and project management tools give firms the ability to measure performance at a glance.

You’ll be able to identify the attorneys, paralegals and support teams caring their weight and those who are not. Law students will want to become acquainted with these standalone tools. How they work, the permissions required, who uses them, how they are used and when.

PDF conversion software

Many firms want to be paperless. PDF conversion is still important as law firm still receive physical documents on a regular basis. PDF conversion software allows you to scan and convert physical documents into digital copies. Adobe Acrobat is still the gold standard so it’s important to become acquainted with these tools, including how they work, what they’re used for, and when.

Document assembly/management

Document automation eliminates or reduces a firm’s dependence on mail merge. Document automation enables firms to customize pre-existing legal docs, enabling attorneys to insert boilerplate clauses and non-generic content into documents that require customization.

This is important because, as we’ve covered previously, clients are less willing to pay for routine or generic work.

They’re looking for value.

Document assembly maximizes your time (as an attorney) on high value, high-risk matters. It also simultaneously reduces the time spent on routine or mundane matters, which is exactly what your clients want.

What about document management?

70 percent of IT managers surveyed “know or believe that users (employees) have business (client) data in their own personal file-sharing accounts.” This basically means attorneys and other firms are storing sensitive client data in their personal Dropbox accounts.

A serious red flag and a major liability for offending firms.

Document management software provides firms with the user rights/permissions and security they need. Office managers won’t have access to sensitive client data they don’t need. When documents are difficult to find, law firms recreate them. When they need mobile access but that access isn’t available, they ask someone else to recreate them.

This creates unpleasant questions:

“Which document version is required for your client’s matter? Who has the right version? Is it you? Are you sure this is the right version? Do you have access to the right version?”

Law students should be fully acquainted with document management and storage software. You should understand how this software handles version control, search and user rights/permissions.

Time tracking, billing and accounting

Time tracking software isn’t created equal. If you’re going to work with time tracking, billing and accounting software, you’ll need to make sure the software you study follows a specific set of criteria:

  1. A convenient timekeeping method. The best automated or semi-automated. They provide attorneys with a convenient way to track their time as-it-happens. This eliminates billable leaks and ensures attorneys are focused on tracking their time. Time tracking is important even firms rely on alternative fee arrangements.
  2. Provide invoicing directly in the program. Attorneys should be able to create an invoice directly from their time tracking program. It’s ideal if the software works with UTBMS and LEDES billing codes.
  3. Allows for trust accounting reconciliation and IOLTA administration and management, ensuring compliance and proper management of client trust accounts.
  4. Provides robust reporting covering a variety of details including firm realization, accounting activity, client details, time and expense entries, user activity projects/matters productivity over time, etc.

Law students should spend a significant amount of time working with time tracking, billing and accounting software from an industry leader.

Case management

Case management software typically includes contact management (with a global search for conflict checks), calendar management, email archives, time tracking, billing and accounting. You want to learn to use these tools with appropriate details.

Learn how to schedule events, track emails (and conflicts), manage contacts and work with archives.

Internal communication

Slack, Apple’s Facetime, Microsoft Skype and Google Hangouts have been touted as helpful tools for lawyers to use in their practice. Here’s the problem: Facetime and Hangouts stores your content on their servers indefinitely. Skype stores content from calls with more than two participants.

Your conversations as a firm employee aren’t necessarily private.

They’re easily accessible via legal (subpoenas) and illegal (hacks, phishing) methods which means this is an enormous disaster waiting to happen. There are also a few significant downsides. These options don’t record meetings, chats and files. They also don’t integrate with the tools and resources your firm is already using.

Your firm needs (and may already own) secure software that allows you to communicate with your future team privately and securely. You’ll need to know how to use secure communication tools that provide you and your (future) clients with the privacy, control and security they need.

This is what you need to achieve digital competency

What if you’re way off?

What if you missed the mark completely focusing on insignificant details from software that isn’t a fit. There’s an easy way to avoid the situation.

First, determine where you’d like to work. If you’re interested in BigLaw, reach out to employees at other firms and ask for their help. Small to medium-sized firms? Do the same thing.

Second, ask them about the software programs they use. If they ask why tell the truth. Tell them you’re looking to improve your chances of winning a BigLaw position and you’re looking to become digitally competent. Let them know that you’re looking for ways to learn more about the tools and resources you’ll need to be great at your job.

Take notes.

Third, reach out to these companies and ask for their help. Tell them the truth as well then ask for what you want. A free copy or student license of the software so you can learn. Tell them you’d like to share their software with your classmates (only if it’s true).

Rinse and repeat.

When you get a free copy or license get to work. Take the time to get to know their software, tools and resources. Create a sample project or matter you can work on.

Finally, update your resume. List the software, tools and resources you studied on your resume.

Digital competency isn’t optional

It’s a requirement if you want to win.

Law schools are shaking up their curriculum, prioritizing digital competency ensuring graduates are better prepared for life after the bar. Change is slow.

Law school students can improve their postgraduate prospects by focusing on their core competencies. The skills and technology needed in their practice area/firm.

As far as critical thinking goes, lawyers are exceptional.

Law firms aren’t resisting technology, they’re embracing it, albeit slowly. Firms all around the country are adapting to meet the high-pressure demands of today’s modern client.

Adapt now and you’ll win.

Use this guide to digital competency, and you’ll have the tools and resources you need to show firms you’re the better candidate.

Try Bill4Time for free.

Filed Under: Blog, Legal

How Family Law Firms Can Get the Most Out of Bill4Time

December 7, 2018 By Andrew McDermott Leave a Comment

family law bill4time feature image. Woman with lawyers.

Picture this.

You’ve just signed up for a free trial of Bill4Time. You’re looking to maximize your Family Law Firm’s performance. You know what you want. You’re looking to achieve rapid (and profitable growth).

You want more clients.

You’re looking for a dramatic reduction of your non-billable work. A way to reduce billable leakage and avoid filling out timesheets altogether. You’re not sure about practice management software but you’ve decided to give this a chance.

How do you get the most out of Bill4Time?

Step #1: Throw everything you have at Bill4Time

Use it as your workhorse.

Skepticism is an important part of belief. When law firms take advantage of our free trial they’re skeptical. Can the platform do what they say? Is it really possible to produce the results others have experienced?

Skepticism shows you.

Add your clients, projects and matters. If you’re not sure how, ask a real person to help you get started. Dump your problems onto the platform. You’re looking to see if the platform can handle your heaviest workload with zero malfunctions or setbacks.

  • How long does it take you to set up all of your client/matters and begin billing time?
  • Drop your clients, projects and matters on the platform
  • Verify that automatic time tracking is truly automatic
  • Outline billing, invoicing and collections
  • Throw your accounts receivable and collections at the system
  • Test the platform on desktop, smartphone and mobile simultaneously

You’re looking for downtime or failure points.

You’ll want to push the platform as hard as you can. Upload documents, test compliance requirements (e.g. LEDES exporting). Push the software as hard as you can, for as long as you can.

Why?You’re confirming three things (1.) that Bill4Time can support your firm where you are right now, (2.) that it can produce the results you need whenever you need them and (3.) the platform can grow as fast as you need it to.

Step #2: Confirm features are interconnected

Features are nice.

But can they work together? Are these features interconnected? Can they perform as expected together or will the system wilt under pressure?

  • Do the calendar and event tracking sync with billing, invoicing and collections? Are these features a seamless part of your billing workflow?
  • Can you transfer/convert appointments and events into your billing workflow?
  • Are you able to manage and maintain firm-wide standards across a variety of environments and rule sets?
  • Can you track various billing rates for hourly/flat fee work across all associates?
  • How easy is it to record, view, and edit time entries? Can you automatically feed them into invoices?
  • Is the platform’s trust accounting functionality accurate, reliable and straightforward?
  • Are staff required to enter/track time or manage timesheets?
  • Can you add/create multiple cases under one client without having to duplicate the client?

You’ll want to verify that relevant features work together flawlessly. Data that’s added in one part of the platform should remain consistent across other feature sets.

Look for consistency.

Step #3: Validate our customer service

How good are we really?

Can you reach a real person when you call? How long does it take to connect with someone via live chat? When you do connect with us what’s the support like?

  • Are support reps knowledgeable and clear?
  • How often are your questions answered completely and concisely?
  • Are support teams patient and kind or are they condescending and rude?
  • How long do you have to wait for help or a reply to your support ticket?
  • What do other customers say about the product?
  • How do support teams handle “dumb” questions?
  • Will support reps import your clients for you?

You’ll want to verify and validate our customer support.

Use your questions to test the platform

Look for results.

A dramatic reduction of your non-billable work. A way to reduce billable leakage and avoid filling out timesheets altogether. To improve your firm’s utilization and realization rates.

Squeeze out value.

Add your clients, projects and matters. Confirm that relevant features are interconnected. Validate our customer service. Push for value, confirm results.

Put us to the test. Start your free trial today.

Try Bill4Time for free.

Filed Under: Blog, Legal

Future Proof Your Law Firm

June 28, 2017 By Jeremy Diviney 1 Comment

Your future as a lawyer doesn’t depend upon technology. Great client relationships, effective representation, and sound advice will trump fancy gadgets or complex software every time. In fact, clients are rarely impressed by technology unless they see an immediate benefit to their own needs.

That said, your firm’s financial success often depends on your ability to use technology in pursuit of lowering costs, reducing waste, and avoiding unneeded expenses. Understanding how and when to use emerging legal technology is as important as keeping current in case law.

What Do Clients Want?

As a rule, efficiency is vital to clients, even if they never say so. Any consultant or highly skilled lawyer comes at a high price. It is rare that a client looks for ways to pay more!

For client-facing technology (such as shared communications, billing portals), you need to stay proactive by explaining how the efficiency improvements you’ve made with technology will benefit your client. Many technologies promise labor savings, which can mean a reduction in billable hours. In the short term, good for the client, not so great for you.

However, you should be playing the long game – building solid client relationships, not monthly revenues. It is impressive that you’re willing to sacrifice a few billable hours through efficiencies to gain a long-term, committed client. If you don’t adopt obvious labor-savings efficiencies in your own firm, you are more likely to lose a client to a rival firm that made the switch.

Of course, not all labor savings need to be shared with clients. A good source of firm profitability comes from reducing non-billable labor and maximizing productivity. The ability to accept greater caseloads without an increase in administrative overhead is powerful operational leverage.

Below are several new and emerging technological solutions for your law practice. Some will improve your efficiency behind the scenes, while others will give clients immediate tangible value.

Time, Billing, and Case Management Software

Any given case can involve numerous documents, contacts, appointments, and billing information. Having one place to store and retrieve that data is an invaluable behind-the-scenes asset for your firm. With case management software, you have the choice between using a web-based or in-house server solution.

Cloud technology has come a long way in recent years, and it has many advantages for small firms who don’t want to run their own servers. Some legal time & billing solutions, like Bill4Time, offer 256-bit bank-grade security, 5-minute setup, full trust accounting functions, integration with on-line storage services (like Box.com), plus an online payment portal that can accept credit cards and ACH transactions.

Other cloud-based systems promise complete practice management software. This comprehensive approach can be powerful for your firm, but it requires a deep commitment and sustained effort to change virtually every aspect of your practice. Some firms find the challenge a bit too much and revert back to old ways.

Legal Research

Cloud-based companies can also provide automated research capabilities that can save your firm serious dollars. Automatic PACER tracking through CaseFlex could be useful if you file federal cases. Services like Witnex promise thousands of qualified expert witness profiles on a single database. Judicata is an enhanced legal search engine that delivers query results that are designed to be “precise, contextual, and comprehensive.”

Online Communication

Lawyer availability (or timely response) is one of the most important value considerations when clients evaluate a firm. Whether it’s by email, text, or chat, most clients will want to get in touch with you by means other than telephone. Your clients are likely already using secure chat platforms like Slack or encrypted email platforms like Virtru. Keep in mind that there are pros and cons of team communication apps like Slack.

Document Automation

There are better uses of the time and energy of your support staff than drafting legal documents over and over again. Standard templates for living trusts, copyrights, LLC formations, and other documentation, can be accessed through a cloud-based database from companies like Docasaurus, saving you time and money behind the scenes. iManage provides seamless management of your sensitive documents, and Intapp automates document confidentiality through a single interface.

Technology Support

Neither courts or clients care about excuses for broken technology, so you need to have an expert available at all times to fix problems with your firm’s computers and other tech when issues arise. If your firm is large enough, you may be able to justify a full-time IT person, but most smaller firms will need to work with companies like Dataprise or Synoptek.

Digital Security

Even if you run a small practice, information about your clients and cases has value to criminals. Even if you use cloud-based case management software, the devices you use to access the web need their own security. This means you need to install and consistently update anti-virus software like AVG, anti-malware apps like Malwarebytes, and firewall hardware like WatchGuard.

Legal Labor On Demand

Just like Lyft can connect passengers with available drivers, sites like CallRuby can connect law firms with on-demand labor quickly and easily. Let’s say everyone at your office is busy working on a case and your secretary calls in sick, you can make sure your calls get answered by requesting help through a website or mobile app. Ensuring your office has an available friendly voice will engender trust with your clients.

People benefit from technology in many aspects of their lives already, so they will expect your law firm to take advantage of advances whenever possible to improve their experience. Your first step should be to speak with clients about any value issues they may be having, as well as their relative comfort level with technology integration with 3rd-party partners. The tech you choose for your firm should clearly provide value to the client, not just your own firm.

 

Jeremy Diviney is President and co-founder of Bill4Time, web-based time billing software serving both small and large professional services firms. With offices in New York, Seattle, and Pittsburgh, Bill4Time creates simple-to-use, intuitive and user-friendly software.

Try Bill4Time for free.

Filed Under: Blog, Legal, Running Your Business

Release Notes: February 2017

February 10, 2017 By Bill4Time Staff 7 Comments

The Bill4Time product team releases new and enhanced features, system improvements, and bug fixes several times per week. We’re thrilled to announce a new series called Release Notes. Every month Release Notes will highlight all the changes we’ve implemented, so you can easily stay up-to-date on what’s new.

Take a look at what we’ve released this February:

 

Updated 2/24/17

New and Improved Schedule Report – We have completely overhauled the Schedule Report. This was the final report to transition from the Legacy version of Bill4Time to our new reports engine. This new report includes all the same functionality as before, and we’ve also added a filter for Project Type.

User Hours Summary Invoice Template Add-On – We’ve fixed a bug that was causing extraordinarily long project names to format incorrectly.

Added Server Capacity – We’ve more than doubled our server capacity. This change was made in an effort to improve load speeds and decrease latency for users.

Favorite Report Filters  – There is now a new Date Range option when saving filters to a Favorite report. You may now select ‘Last Month’ and the report will pull data using a date range  spanning from the first to last day of the month preceding the current month.

Project Type Filter – We’ve added a new filter to the Project Management page, which allows you to filter results for one or more Project Types. (Project Type column is coming soon!)

A/R Balances Summary Invoice Template Add-On – The A/R Balances Summary add-on is now available when using the ‘Official’ design template.

Trust Payments by Batch – We’ve resolved an issue where the Trust Account dropdown list was not always populating appropriately when making trust payments within a batch.

 

Updated 2/17/17

Conflict Checker – Advancements to the Conflict Checker have been released. Top right, click the check mark icon to access your Conflict Checker from any page. Full post here

The highlighted section contains a new button used to access the Conflict Checker.

Invoice Email Popup – We’ve resolved a small display bug where the Invoice Email popup was not formatted using the same size when opened in various places in the program. This popup is now consistently formatted throughout the program.

 

Updated 2/15/17

Invoice Status Report – We’ve added the option to group by Project and Account Manager when running this report.

Streamlined Setup Wizard – The Setup Wizard has been updated to make it easier to customize your Activity Types when first setting up your Bill4Time account.

 

Updated 2/10/17

Attach/Hide Trust Accounting Summary – We’ve enhanced this feature to allow the Trust Account Summary Add-On to be hidden when there is no new transaction data to display.

WIP Summary Report – We’ve added the option to group by Account Manager when running this report.

Project Type Report – The filter option for Project Type now allows you to select multiple types when running this report.

iPad app Data Download – We’ve resolved an issue for users downloading an extraordinarily large volume of data.

Tax Report Update – This report now groups by currency symbol by default.

Bill4Time Desktop Widget for Mac – Full post here


 

This post will be periodically updated throughout the month to reflect new releases. 

 

Filed Under: Blog, What's New Tagged With: Blog, Help & Support, legal billing software, Release Notes, time billing software

CPA Practice Advisor Review of Bill4Time

December 23, 2015 By Bill4Time Staff Leave a Comment

ratingBest Fit: Professional firms that want cloud-based time and expense management for time and expense tracking and billing, along with mobile apps that simplify daily use.

Strengths

  • Integration with QuickBooks, Outlook and Google
  • Apps for Apple and Android devices
  • Online payment acceptance
  • Management at the client, project and activities level
  • Features for accounting and legal firms

Potential Limitations

  • No accruals management

The cloud-based Bill4Time system offers flexible web-based management of time and expenses, which can be tracked against hourly billing, flat fee billing, projects, or staff. The program also includes accounts receivables management and invoicing features, strong reporting, easy time entry tools, and mobile apps. The system’s project management features give firms the ability to budget and track due dates, along with project and activity-based management tools that can track multiple engagements per client.

Basic System Functions:

The web-based Bill4Time system can be accessed via major browsers and
mobile devices, and is designed to track time, projects, activities and expenses, then includes AR management tools and invoicing functions. System interfaces are user friendly, and the program includes user-level security functions.

Mobile access tools make it easy to management time entry and expense functions, including adding markups and assigning expenses to specific clients, tasks and expense categories. Images of receipts can be uploaded into the program from either the user’s desktop or the mobile apps. Scanned or photographed copies of other documents, such as contracts, can also be attached to client engagement files.

Bill4Time offers versions for accounting or law practices, with WIPs and trust accounting options. Users can easily oversee the status of projects and client billables, with the system offering easy access to scheduling, reporting, accounting and other core function areas.

Users can select projects, staff, work codes and other settings from intuitive screens, and the client selection screen provides a sortable summary of client data, account balances and staff members engaged on a client engagement.

Bill4Time-AdTime Management Capabilities:

Bill4Time provides several methods of time data entry, including timers, summary or detailed data sheets, widgets or the mobile apps. Billable and non-billable time can be entered and tracked, and the program can convert appointments from the calendar into time data entries that are logged against client engagements. The system also includes group calendaring functions. Professionals in areas that have sales taxes on labor can assign and track those taxes automatically.

Project management tools let users create and manage budgets at the client or project level, with showing progress against budgets and offering users the option of setting up alerts that notify them when budgets or client credit limits have been hit. Project-level billing features simplify tracking of multiple engagements per client, with each detailed separately on consolidated invoices. The program allows setting default billing rates at the client, project or staff levels. A separate contact management feature allows having multiple contacts at clients, prospects and vendors.

Bill4Time can also be used to track non-billable tasks, such as staff training and firm development, as well as vacation, sick leave or other PTO, but it does not offer true accruals management capabilities.

Invoicing Functions:

Invoices created through the system can be fully customized with firm logos, and can be electronically delivered (the preferred method, since this system is web-based). Online payment acceptance streamlines receivables management and usually speeds the time in which clients pay invoices. The program also includes client portals that can be customized, allowing clients to log in and securely access related files and documents, as well as paying invoices. The system includes multi-currency support. Expense tracking features enable flat fee or percentage-based markups, as well as tracking travel time. Users can control the level of details, account histories, billing rates and other information that is included on the invoices.

Management Features:

Client budgets and credit limits can be created, and reporting options allow comparisons of budget to actual, WIP summaries and other options. Accounting functions include AR management with WIP reporting, collections, payments and account activity.

The Bill4Time system offers dashboards that provide key business indicators, including pending time entries, projects, billable hours and other information. A broad collection of reports are available from a library that includes options for detail and summary activity, balance and payment reports, as well as WIP summaries, AR aging, collections, write-ups and write-downs, and trust and tax reports. Reporting can be focused on users, clients and projects, expenses, client histories, budgets, and user productivity and efficiency.

Integration & Data Management:

The reports and invoices generated through the program can be saved as PDF, directly emailed to clients, sent to the client portal, or exported to Excel for customization. The program integrates with QuickBooks and QuickBooks Online to transfer labor, expense, payment and adjustment transactions and entries. The system’s scheduling system integrates with Outlook and Google. Client data can also be imported from CSV or Excel format.

Firms can accept online payments from clients via PayPal or credit cards, and payment links are included on digital client invoices.

Help/Support:

Bill4Time includes ample built-in support including field-level help options and links on each page of the program. The company’s online support center includes a knowledgebase, video tutorials, user manuals, webinars and how-to articles. Live technical support is included in system pricing, including email support, a t
icket-response system and by phone.

Summary & Pricing

Bill4Time is a user-friendly web-based time and expense management system that provides additional project and engagement tracking functions. The system integrates with QuickBooks and Outlook, and streamlines online payment acceptance.

The system is available in three general versions, with pricing starting at $15 per month for the Solo version which supports up to two users with 100 clients, 100 projects and 2GB of cloud data storage. The Pro version is $30 per month, with unlimited clients and projects, and 10GB storage, plus additional import and coversheet options. The Enterprise version is $75 per month, with unlimited clients, projects and cloud storage, plus additional reporting, data import and custom invoice template options.

Read the review in CPA Practice Advisor.

Filed Under: Accounting, Blog, In The News

Bill4Time Releases Legal Firm Manager with New IOLTA Features

November 18, 2015 By Bill4Time Staff Leave a Comment

Washington and Florida Bar Associations Offer Members Premier Time Billing Software  

Bellevue—November 18, 2015—Bill4Time®, a leader in time billing practice management software for attorneys, announced today the release of Bill4Time Firm Manager with new IOLTA (Interest on Lawyer Trust Accounts) features. A collaborative effort between the Washington State Bar Association (WSBA) and Bill4Time, the new IOLTA features are based on and comply with general accounting principles and WSBA rules. Bill4Time Firm Manager with IOLTA significantly reduces the level of complexity for solo practitioners managing IOLTA, eliminates over drafting and provides a complete digital audit trail for client accounts.

IOLTA is a program in all 50 states to increase access for individuals and families unable to afford legal services. Client funds, held in a trust account for future legal use and that would normally not earn interest are set up as an IOLTA account.  The interest earned is then pooled, together with state and federal appropriations, and private grants and donations, to fund civil legal aid to the poor and support improvements to the judicial system. IOLTA trust accounts are regulated by each state so it is important that every lawyer comply with the individual state rules. Bill4Time Firm Manager aids in compliance and simplifies the accounting process by providing an easy, accurate and transparent method to segregate and account for client funds in an interest bearing IOLTA trust account.

“Bill4Time IOLTA [Interest on Lawyer Trust Accounts] is a key feature as it makes managing trust accounts simple by automatically tracking every transaction,” said Talis Abolins, a partner at the Advocates Law Group in Washington. “Plus, key to managing IOLTA accounts is to never go into the negative. Bill4Time prevents this, ensuring strict compliance and control.”

Bill4Time Firm Manager Features
Bill4Time Firm Manager is a cloud-based legal management software, eliminating the need for servers and IT staff to maintain software. Bill4Time provides on- and offline time tracking and billing, along with a convenient online payment portal. The software includes ABA Task codes, case/matters management, LEDES export, trust accounting and integrates with QuickBooks, Box and others to provide a complete end-to-end solution for attorneys. The new IOLTA trust accounting provides:

  • Credit/Deposit Clear Date & File Upload. Reconcile account statements in minutes by quickly adding a “clear date” next to each credit/debit. Scan and upload copies of checks and cancelled checks for future reference and validation.
  • Voided Checks and Notes. Quickly learn the status of every entry. Click “Void Check” and enter the date and explanation in one step so the check is clearly marked. Create automatic triggers to hold a credit or debit until a clear date has been entered and easily scan for any status update.
  • Detailed Reporting. Easily reconcile IOLTA accounts in one step, in one place with the Trust Reconciliation Report. Review audits with time entry and time stamp of each transaction. View payments, voided checks and checks that have yet to clear. Provide a complete digital audit trail to maintain client confidence and avoid any claims of financial impropriety.

“Trust accounts are to protect client funds; however, attorneys need to be aware of the liabilities and rules involved in managing these accounts,” said Jeremy Diviney, president of Bill4Time. “With Bill4Time, we help reduce the complexity of managing trust accounts by creating a streamlined and transparent process that is easy to use, instills confidence and trust, and mitigates exposure to false claims. Our end-to-end firm management software helps legal practitioners focus on the client, not back office administration.”

Both the Washington and Florida Bar Associations join the National Association of Legal Professionals (NALS) in announcing a relationship with Bill4Time to offer members lifetime discounts for Bill4Time Firm Manager. Bill4Time Firm Manager is a comprehensive, end-to-end legal practice management system offering enhanced security, ease of use, is platform agnostic so it is accessible anywhere, anytime on any device, including Apple® iPhone, iPad, Android and BlackBerry smartphones and tablets.

For more information on Bill4Time Firm Manager with the new IOLTA features, please visit http://www.bill4time.com/legal-billing-software or view the video at https://www.youtube.com/watch?v=a51n2SkX2NU. To learn more about IOLTA programs by state, visit the ABA Directory of IOLTA Programs.

 

Contacts:
Chérie Wentz Blehm
cwblehm(at)bill4time.com
425.559.9790

Alex Trautt
atrautt(at)bill4time.com
425.559.9789

 

Filed Under: Blog, Legal, Press Releases

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