The role of the best accounting software for small law firms is to make the challenging task of accounting easy and accounting in the demanding and changing world of law. Law firms have different legal accounting software due to their specific activities. These tools help streamline complex accounting tasks by automating payment tracking, simplifying tax management, and creating useful financial reports.
General accounting software can not handle complex financial work. Hence, different accounting software has been introduced to avoid any complexities. This software helps manage payments, time spent on clients, making bills, and trust accounts.
This article will show you the top accounting software for small firms to increase productivity, whether you’re new in the law field or already practicing.
Top 5 Best Accounting Software for Small Law Firms
Small law firms can choose from different accounting software options below to facilitate systematic accounting management. These best billing and accounting software for small law firms play a vital role in the expansion of law firms and in making accurate financial reports. Below are some of the top names,
- QuickBooks
- Zoho Books Accounting Software
- PCLaw Accounting Software
- Xero Accounting Software
- TimeSolv Accounting Software
QuickBooks – Best Accounting Software for Small Law Firms
QuickBooks is one of the top tools many small businesses use in accounting management. The software has several features to handle the demands of companies, whether big or small and help with their growth. The software is user-friendly but needs careful consideration if you’re unfamiliar with accounting rules.
Features of QuickBooks – Best Accounting Software for Small Law Firms
Some of the key benefits of the software are given below.
- A detailed reporting system and record-keeping system with over 50 reports are available in the beginner’s plan.
- Durable management of inventory in top-tier projects.
- Easy information sharing with the accountants.
- Practical functionality with more than 750 apps.
- Live chat and call assistance.
- Personalized control panel, global search option, and tools for automatic settlement process.
Pricing Plans
The starting price is $20/month for businesses, which increases with the increase in users and features. However, new customers can choose between a 30-day free trial or a 50% discount for 13 weeks.
| Standard | Essential | Plus | Advanced |
| AED 20.94 per month | AED 30.85 per month | AED 44 per month | AED 83.75 per month |
| For one user and accountant | For three users and accountant | For five users and accountants | Manage users up to 25 |
Advantages
The advantages of QuickBooks are given below,
- Comprehensive nature and user-friendliness
- It is easy to track income and expenses, generating financial reports and business invoices.
- The app is highly appreciated for real-time accounting.
Disadvantages
The disadvantages are,
- Slow operation while dealing with a large amount of data.
- Inconsistency in customer support services
- The price for advanced features is not high, according to some users.
- New users may find it challenging to understand the system.
Zoho Books – Best Accounting Software for Small Law Firms
Zoho Books is another cost-effective accounting software program with advanced features. The price is relatively low and has built-in software programs like payment monitoring, time tracking, and invoice creation. It is the best billing and accounting software for small law firms and is highly secure to protect from fraud.
Pricing Plans – Best Accounting Software for Small Law Firms
Zoho Books offers five pricing plans that meet your requirements. Each plan has different specifications and prices.
| Standard | Professional | Premium | Elite | Ultimate |
| $12/month | $24/month | $36/month | $120 per month with exclusive features | $240 per month with advanced features |
| Suitable for 3 users | Suitable for 5 users | Suitable for 10 users | Supports 10 users | Ideal for 15 members |
Advantages
The advantages include,
- Helps create cash accounts for clients.
- Helps with the company workflow.
- It enables you to develop various jobs to cover unique business use cases.
Disadvantages
Just like any other software, it also has some disadvantages,
- The legal accounting software is only suitable for small firms.
- It does not support payments through apps.
PCLaw – Best Accounting Software for Small Law Firms
It is a Law Practicing Management Software (LPMS) that LexisNexis developed. It helps lawyers in tracking times, client cases, and billing on one platform. With the help of this software, the lawyers get suitable compensation for the time spent on each client. However, the software falls behind other cloud-based law practice software regarding accessibility and other required features.
Features of PCLaw – Best Accounting Software for Small Law Firms
The benefits of PCLaw include the following,
- Personalization. The software allows users to personalize every aspect of the software according to their requirements.
- Easy to use Interface. It supports a user-friendly interface for simple navigation.
- All-inclusive Accounting Tools. The software has built-in accounting, time tracking, and billing features, which help users to have control over the client’s data.
- Incorporation with Insurance Carrier Portals. PCLaw can easily be incorporated into the insurance carrier portals.
Pricing Plans
The software’s starting course is $39 per month per user.
Advantages
The legal accounting software does have multiple advantages,
- On-site options, user controls, client management, and business reports.
- It allows lawyers complete control over their company’s data and makes detailed business reports.
- It is cost-effective for small and medium-sized companies, making the billing and cash flow smooth and easy.
Disadvantages
The software has some drawbacks, just like other software,
- The software is complex and may require the help of technical experts for initial set-up.
- No smart app access, which restricts accessing the information on the go.
- The software does not come with a client portal, which makes it difficult for lawyers to communicate with their clients.
- The software is slightly outdated and can crash anytime because of the large number of users.
Xero Accounting Software
It is one of the best billing and accounting software for small law firms looking to grow their business. It is one of the popular choices of firms because it is easy to use and does not restrict the number of users. Additionally, its Interface is flexible and user-friendly, which makes it an excellent option for small law firms. It is the top choice of legal firms because it has the feature of making transactions in more than 150 different currencies.
Features of Xero Software – Best Accounting Software for Small Law Firms
Some of the exclusive features of the software are,
- It lets you keep track of cash in-flow and out-flow.
- The users can easily pay an invoice with a single click.
- Keep a record of the amount due.
- It easily monitors the time and money invested
- It has the option of generating customizable invoices.
- It allows individuals and legal firms to connect with other smart apps.
Pricing
The software offers three different monthly plans at various prices,
| Early | Growing | Established |
| $12 per month | $34 per month | $65 per month |
| Basic features required for a law firm | Suitable for bulk transactions | Provides detailed records of the amount paid for projects |
Advantages
The software provides the following advantages to the law firms,
- The software is adaptable and versatile
- It offers its users a trial period
- It is easily customizable
- Unlimited users can be added to a monthly plan
Disadvantages
The software has the following cons,
- It has a limited number of features in its mobile application
- The number of invoices is restricted.
TimeSolv
It is also one of the top legal accounting software for managing financial records and projects without manual work. The software automatically tracks expenses and bills with a built-in feature to calculate taxes and penalties.
Features of TimeSolv
TimeSolv is one of the best billing and accounting software for law firms for different reasons,
- Helps with law firm’s tax management.
- It helps manage payments efficiently.
- Helps customize invoices to maintain professionalism.
- Allows access to unlimited clients.
- It enables you to review financial records in different formats for better understanding.
- Automatically pays bills on due dates, which simplifies the payment method.
Pricing
TimeSolv’s pricing method is different from that of other legal accounting software. It offers monthly and annual packages, and the cost depends on the number of users.
| Monthly Package | Annual Package |
| $39.95 per user | $4 per user |
Offers 30-day free trial and money-back guarantee in case of client dissatisfaction.
Advantages
The law firms must consider the advantages it offers,
- Simple and easy billing interface
- It offers an annual plan
- Allows management of multiple client’s accounts
- It has a 30-day free trial option and a money-back guarantee
Disadvantages
The disadvantages of TimeSolv are,
- It does not provide information about the deadlines.
- There is no built-in reminder option.
- It has few customization options as compared to other software.
Endnotes
In this article, we have provided complete information on the best accounting software for small law firms. Accounting software helps avoid the challenges and difficulties of law firms by managing their finances, invoices, and client bills. It provides exclusive features that allow the company to provide legal services to its clients.
The company must select appropriate accounting software to overcome the challenges of small law firms. Contact Al-Riyady for further information on the best accounting and legal software for small law firms. We can also help you with Accounting Services, Auditing Services, Business Plans & Feasibility Studies, and more.
