In the last few blog posts, we’ve been emphasizing the importance of solid cash flow management practices. If you’re looking for a tool to ease the way, look no further. Consider our Payment Acceptance Plan, a merchant accounts option for law firms.
An Internet merchant account gives your clients a full range of electronic payment options. They can pay their bill by credit card, debit card, or remote check. You can also set up recurring billing. The funds can pour into your law firm operating account – or your escrow or trust account. You can even get real-time reporting – which allows you to use your desktop, laptop, Smartphone, or tablet PC to accept a credit / debit card payment, and see where your accounts stand. Best of all, the fees are low – and to prove it, we’ll compare them against your current credit card merchant payment plan free of charge. (Just fax us a cover sheet with your latest credit card processing statement: 877.439.7638).
What’s better for you and your cash flow is also easier for your client: rather than write out a check and wait for the proper authorized signature, he or she can simply provide you with a card or checking account number over the phone (or keep one on file). It’s a win-win scenario that simultaneously eliminates your collection frustrations (it practically prints money), and keeps clients more invested in you and your law firm.
By now, we’ve reviewed many angles of your cash flow plan, including retainer collection, billing and time tracking, expenses and expense tracking, invoice reminders, retainer replenishments, and electronic payments.
Together, these tasks would appear to require a full-time bookkeeper or accounting help. That is where law firm accounting software definitely helps. Easy TimeBill is designed to solve these issues right out of the box. It funnels your cash to the right accounts, segregates and tracks client matters, and tells you what you’ve got to work with – so you can rest easily.
Learn more about your law firm cash flow management system by calling us at 800-905-7638.