Soluno is a cloud-based platform that offers solutions for law firm accounting, billing, and trust management. It aims to simplify financial operations by providing tools for efficient time tracking, invoicing, and reporting. Staying up-to-date with new and shifting regulations related to trust accounting, recordkeeping, and financial reporting takes time and effort. For example, let’s say a law firm incurs a $700 travel expense for an attorney to attend a deposition related to two different client cases. Law firms, like any business, must maintain records of tax payments (income tax, payroll tax, sales tax, etc.) and any relevant tax forms filed.

What are the main differences between MyCase and Practice Panther’s accounting features?

• Depending on the size and needs of your firm, some solutions may be a better fit than others.
• PracticePanther’s legal trust accounting software syncs contacts, payments, invoices, time entries, expenses and flat fees with QuickBooks.
• MyCase Legal Accounting is easy-to-use accounting software built seamlessly into the MyCase practice management platform to meet the unique business needs of law firms.
• Office, case related, and vendor costs are tracked in detail.
• According to our 2025 Legal Industry Report, the majority (93%) of respondents reported saving time using accounting software.
• Outsourcing law firm bookkeeping services allows lawyers to focus on cases instead of spreadsheets and financial stress.

Clear expense visibility How Bookkeeping for Law Firms Strengthens Financial Health helps identify unnecessary costs. Better control directly supports improved firm profitability. Track time, invoices, and payments with streamlined legal billing tools.

How Accountants for Lawyers Add Strategic Value Beyond Compliance

His expertise spans various industries, consistently providing accurate insights and recommendations to support informed decision-making. Rick simplifies complex financial concepts into actionable plans, fostering collaboration between finance and other departments. With a proven track record, Rick is a leading writer who brings clarity and directness to finance and accounting, helping businesses confidently achieve their goals.

Solo and Small Law Firms

The software handles operational data, while outsourced accountants ensure financial compliance and insightful reporting. Accurate client records help track billing, retainers, and payments. Daily tracking ensures that all billable work is recorded accurately. Clients also receive clearer and more transparent bills.

• CosmoLex is cloud-based, which means you run the software from a web browser.
• Fortunately, you don’t have to sacrifice quality to find affordable accounting software.
• Generate invoices, manage trusts, integrate office accounting, and improve law firm finances.
• This software not only enhances financial accuracy but also streamlines operations, allowing law firms to focus more on their legal practice and client relationships.
• CARET Legal Workflows lets your team have the space to collaborate, align, and coordinate together.

A New Era of Legal Practice Management

© 2026 Axiom Law | Axiom is not a law firm and does not provide legal advice. Our clients’ legal teams supervise the legal work of the Axiom lawyer. Whether you charge hourly or by project, TimeSolv gives you the tools to track time and bill confidently. Use secure client portals, mobile time https://www.yuks.co/law/the-primary-aspects-of-bookkeeping-for-law-firms/ tracking, and easy reporting to work smarter and grow faster. Bill by campaign, track hours across clients, and show results with clear reports.