The Secret Sauce to Speedy Payments and Efficient Billing

Now more than ever, law firms are looking for new ways to reduce costs, streamline workflows, and provide better value to their clients. However, the everyday tasks of billing, invoicing, and timekeeping take up a chunkable amount of their attorneys’ valuable time, especially when it requires toggling between multiple systems to get the job done.

Fortunately, by reevaluating the tools and workflows your firm uses, you can get all three tasks done without any hassle.

Wouldn’t your work life become way simpler if all these functions were integrated into a single full-featured solution? With a software like MyCase, you can do most of the heavy lifting associated with billing including invoicing, automated reminders, payment reconciliation, and everything in between with great ease while also saving your firm precious time.

No More Losing Track of Billable Time

As a lawyer, it can be easy to jump from task to task without remembering to track each of your billing activities. To ensure none of them fall through the cracks, MyCase offers built-in timers, which you can utilize whenever you’re doing billable work. Since it’s unlikely that you’ll devote an entire day on one task, you have the option to have up to three timers running at once. Just start the timer when you begin working and stop it when you’re done, and the software will take care of the rest.

These timers come complete with a standard list of activities including research, document preparation, or phone calls, and can readily incorporate your hourly rate or any other payment structure you’d like to use for the matter at hand.

MyCase also has timers that automatically run in the background, proactively logging time that you may have otherwise missed. This works in tandem with MyCase’s Smart Time Finder, which records time in the background for a number of routine tasks, spanning phone calls, emails, and text messages. At the end of the month, you can reconcile all your time from your Smart Time Finder to determine what you want to bill.

Bill Time More Easily, Even with Growing Caseloads

As your caseload increases, it may negatively impact your timekeeping and billing. Instead of missing out on billable time, use a software like MyCase, which will automatically generate an invoice with all time entries, expenses, unpaid balances, and applicable adjustments.

For every invoice, you can set your preferred billing cadence and how often you want to send these automated billing reminders. When it’s time to send out  invoices, you can pull up a list of all of your invoices, showing all of your billable time for all your matters.

Most firms send out invoices for multiple matters on the same schedule, also known as batch-billing. From your list of invoices, you can select all the outstanding ones you want to send out and set up billing parameters to apply collectively to all of them, including due dates, payment terms, and other standard language that appears on your bills.

When you have a particularly large caseload, batch-billing can save you dozens of hours each month on invoice preparation between you and your team.

Make the Payment Process Easy

There are few things worse for lawyers than having to chase down clients and deal with payment issues. Luckily, MyCase allows you to bill your clients in whatever way works best for them, including via email, text, and paper invoicing. Clients also have the option to send invoices, documents, messages, and payments, from within the MyCase system.

When payments come through, they’re automatically linked with the corresponding case and client file, where you have a continuous feed of all financial transactions with that client, eliminating the guesswork related to reconciliation.

Typically, all payments would go through the formal invoicing process. But sometimes, on-the-fly payments can make things a little easier. In this case, if you need to collect a payment, such as a retainer, on the go, MyCase provides you with a universal payment link your client can use to pay via credit card. The payment will be recorded in MyCase and you can reconcile it to an established matter later.

If you have a client that cannot pay large invoices upfront, you have the flexibility to accommodate your clients’ varying financial circumstances. When creating an invoice in MyCase, you have the option to set a payment plan for your client, determining what amount is to be paid at what intervals. MyCase will then calculate installment payments over the appropriate number invoices for that client, and when an installment payment is due, a notification will be sent with a payment link to your client.

Grow Your Firm with Better Billing

Whether your biggest obstacle is keeping up with billing, collecting payments, or both, MyCase gives you the tools you need to set yourself up for success. Even better, you have access to an award-winning success team and a dedicated payments onboarding team who are committed to your firm’s growth.

It’s time to start getting paid faster with MyCase. Have questions? Learn more here.