![]() You know how much time you’re spending or bringing in revenue by different practice areas. It's extremely important to capture revenue, obviously, of your law firm. The fourth tip is tracking income by different practice area. All these reports are a valuable to preview the PBS or Excel or you can export the data in an Excel sheet as well. Trust reporting, a summary report that shows you detailed information that you can run based on your criteria, such as date range, a responsible timekeeper that has captured your time, and as well as based on the account or client selection or as well as matters. Also, you have the financial aspect of it where you can run trust reporting to see a cash disbursement in trust ledger. The program comes right out of the box, it comes with a trust management where you can write checks right out of the system, and deposit unspecified amounts to unlimited trust accounts. The third topic that I want to go over is trust management. ![]() These are right out of the box assets, liability, capital expense, revenue, and expense accounts that comes as part of the program. You alsohave revenue, rent, expense accounts, write up, etc. When you get started, Abacus will come with a set of chart of accounts where you can capture clients' expense accounts, and as well as cash flow accounts, you can view capital expense accounts. Therefore, Abacus Accounting software provides you a legal-specific chart of accounts. Legal accounting requirements are unique. The second topic I want to go over is how technology can help your firm run legal financial transactions. Prints bill will give you an invoice that shows you all your captured time throughout the program, whether you have captured it from the billing or accounting side or the case management side of the program, within a click you can generate those invoices. Once your time is captured, the billing and financial side of the program takes over and you'll be able to see the time ticket entries, and within few clicks, you'll be able to create invoices and print bills. Throughout the program, you will see a timer, which is an effective way to capture time. That way, you don't have to go back to try to remember how much you have spent on composing an email or composing a document – the program allows you to capture it right there as you're inputting information. So in the case management software, as you are entering information like clients, matters, and/or calendar events, or notes, or email, or document that you are working on Abacus allows you to capture your time as you're imputing information. As I mentioned, AbacusLaw has integrated billing and accounting modules. I'm going to show you tips and tricks in how Abacus Billing and Accounting captures time. To get started, we're going to go over time capture and billing. And you have an integrated case management program. You can also support management decisions by providing up-to-the-minute and – the second match reports on your client’s matters and financial reporting. Using the tool you can accurately capture your time, which is extremely important to your firm's profitability (as well as internal accountability.) Then - because the program automates time tracking, accounting, and billing - you can manage the financial side of your firm with less effort and time. When you use AbacusLaw Billing and Accounting you can easily and accurately record the time it spends on handling client matters. Today I am going to focus on five specific features and benefits of billing and accounting, including: Time capture and billing, chart of accounts, trust management, different practice areas and eliminating duplicates.ĪbacusLaw Billing and Accounting is a time recording billing, trust, and accounting software package. Feel free to send me any questions via chat, and I'll be happy go over your questions at the end of the presentation.Īgain, today's topic is AbacusLaw Billing and Accounting. To get started, we're going to go over tips and tricks for the first 15-minutes of this webinar and then it's going to be followed by an open Q&A. ![]() I'm one of the senior sales engineers here at AbacusNext and have been with the company for about four years. Good morning and good afternoon to everyone! My name is Zohra Ghanimat and today we're going to go over AbacusLaw Billing and Accounting tips and tricks. ![]()
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