It’s been awhile since our last post. TimeNet Law has come a long, long way in the last year.
What’s New in TimeNet Law
Robust Reporting
– See how much time has been logged today, or yesterday, or last week with the Slip Analysis Report. Get a concise overview of your firm’s time.
– Keep clients happy with easy to read Credit Reports and Invoice Summaries that provide clear breakdowns of time spent and money collected & applied.
– Completely customizable Client Report shows you all of the data you need and nothing you don’t. See this data plotted on a bar graph for even greater visual coherency. Double-click any column to see a matter-by-matter breakdown of the data that encompasses that figure.
– Many more reports provide you with all the data you need: Statement of Account Report, Aged A/R Report, Net Investment Report, Billed/Unbilled Fees & Disbursements Reports, Trust/Escrow/Unapplied Credits Reports and more.
Powerful Tracking of Fund Accounts
TimeNet Law now allows you to store funds in client level accounts or matter level accounts. This makes organizing funds and grouping vendors and persons responsible for payment very simple. TimeNet Law also has a new Unapplied Credits fund (both at the client and matter level) to allow you to store funds in a general retainer account.
Funds can be deposited into these accounts and then applied to invoice balances manually or automatically. Detailed Credit Reports show you exactly how the funds were deposited and applied out, even showing how much (if any) is left from each payment.
Task Code Billing
Task Code is a new setting that can be applied at the client or matter level. Once Task Code Billing is enabled, slips added to the matter must be selected from pre-defined lists. This uniform list allows for compatibility with Electronic Billing services, and also simplifies entering tasks and expenses while cutting down on user entry errors.
TimeNet Law currently has four categories to choose tasks from:
Project Task Codes
Litigation Task Codes
TradeMark Task Codes
Patent Task Codes
When entering charges, the list is broken into subcategories so you can easily make your selection. Here is the Litigation Task Code Set:
Other New Features
TimeNet Law has many additional features, too many to list them all. Here are some highlights:
– Each matter has 4 custom fields for information that must be shown on invoices
– Ability to show clients sorted by last name
– Ability to track and show Timekeeper IDs
– Timekeeper Summary option for invoices
– Create Group listings under each client and subcategorize matters into those groups
More to Comethe standard in legal billing and accounting.