When making any big tech purchase for your small law firm, doing diligent research beforehand is incredibly important. This is especially true when tasked with picking out your firm’s invoicing tool. With the multitude of accounting and invoicing products out there, it’s easy to become overwhelmed. But, if you know what features your firm is looking for and which products best compliment your billing style, finding the perfect match just might be more simple than you thought.
Below, we’ve included a few of our favorite invoicing tools and how to know if it’s right for your firm.
Although it’s not made specifically for the legal industry, Xero is designed to serve small business owners like you. ). From your computer, tablet or smartphone, you can easily log into your firm’s account for a real-time view of your cashflow. On top of sending invoices, this program also allows you to prepare payroll, taxes and custom invoices for difficult-to-bill clients. The Xero runs on Cloud technology, meaning it’s accessible through any device that can connect to the internet (you can learn more about Cloud-based technology here). For small firms that are looking for a one-toll-does-everything package, Xero is your best bet.
Formally known as ZenCash, InvoiceCare provides a virtual accounts receivable team to small businesses who don’t have the accounting staff to support their needs. Sometimes you might end up doing business with clients who are hard to track down once it comes time to pay the bills. With InvoiceCare, you can simply send the invoice to their team and they’ll take on the follow-up leg work. They have a friendly staff on hand to send follow up emails, calls and thank you notes once payment has been received. If your firm is looking to collect from slow paying clients and but doesn’t have the manpower to continuously send out follow-ups, InvoiceCare is a service you should consider.
FreshBooks is one of the most widely used invoicing tools among small business owners, and for good reason. It comes loaded with features that allow you to create and send invoices easily from your computer, tablet or smartphone. Invoices are then tracked and entered into a client-specific database where you can run end-of-year reports. Additionally, FreshBooks users can send repeat invoices and billing estimates and accept credit cards.
With so many different features, each invoicing tool serves a different small business need. Once you figure out what your small law firm is looking for, it’ll be easier to narrow down the choices and find the invoicing tool that’s right for you.
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