17 Best Legal Accounting Software Reviewed In 2024
Best Legal Accounting Software Shortlist
Here's my pick of the 10 best software from the 17 tools reviewed.
Our one-on-one guidance will help you find the perfect fit.
Legal accounting software is a valuable asset for any company. With the right software, teams can efficiently track expenses and manage project profitability. But finding the right legal accounting software can be challenging, especially with so many available options.
Using my experience with finance and accounting software, I tested and compared several of the top legal accounting software available. From there, I compiled my results into in-depth reviews to help you find the best software for your unique needs. I’m confident that you’ll discover your next legal accounting software in the list below.
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Best Legal Accounting Software Summary
This comparison chart summarizes pricing details for my top legal accounting software selections to help you find the best one for your budget and business needs.
| Tools | Price | |
|---|---|---|
| CARET Legal | From $29/user/month (billed annually) | Website |
| Zoho Books | From $15/month (billed annually) | Website |
| FreshBooks | From $10/month (billed annually) | Website |
| MyCase | From $49/user/month (billed annually) | Website |
| Rocket Matter | From $65/user/month (billed annually) | Website |
| Centerbase | From $52/user/month | Website |
| Sage Accounting | From $19/month | Website |
| PCLaw | Pricing upon request | Website |
| TimeSolv | From $39.95/user/month (billed annually) | Website |
| LeanLaw | From $28/user/month (billed annually) | Website |
Compare Software Specs Side by Side
Use our comparison chart to review and evaluate software specs side-by-side.
Compare SoftwareHow to Choose Legal Accounting Software
It’s easy to get bogged down in long feature lists and complex pricing structures. To help you stay focused as you work through your unique software selection process, here’s a checklist of factors to keep in mind:
| Factor | What to Consider |
| Scalability | Will this software grow with your firm? |
| Integrations | Does it integrate with your existing systems? |
| Customizability | Can it be tailored to fit your specific needs? |
| Ease of Use | Is it user-friendly for your team? |
| Budget | Does it fit within your financial constraints? |
| Security Safeguards | Are there robust security measures in place? |
| Support | Is reliable customer support available? |
| Compliance | Does it comply with legal and regulatory standards? |
Best Legal Accounting Software Reviews
Below are my detailed summaries of the best legal accounting software that made it onto my shortlist. My reviews offer a detailed look at the key features, pros & cons, integrations, and ideal use cases of each tool to help you find the best one for you.
CARET Legal is legal practice management software designed to streamline case management, billing, and client communication. It provides law firms with tools to manage documents, track time, and secure client interactions all in one platform.
Why I picked CARET Legal: CARET Legal offers a secure client portal where your team can safely communicate with clients and share important case information. The platform also includes time tracking, allowing you to manage billable hours easily. You can create detailed invoices and manage trust accounts, ensuring your firm's finances are always accurate. Additionally, the software’s document management tools keep your case files organized and accessible from anywhere.
Standout features & integrations:
Features include secure client communication, detailed time tracking, and document management to keep your firm organized. You can create customized invoices and manage trust accounts with ease.
Integrations include Google Calendar, Microsoft Outlook, QuickBooks, LawPay, NetDocuments, Microsoft Office, Box, Dropbox, and Docusign.
Pros and cons
Pros:
- Strong document management tools
- Flexible time-tracking features
- Secure client portal for communication
Cons:
- Lack of advanced automation tools
- Limited reporting customization options
Zoho Books is a cloud-based accounting solution that helps businesses manage their finances, track expenses, and handle billing. It automates key financial tasks like invoicing, reporting, and cash flow management.
Why I picked Zoho Books: Zoho Books supports multi-currency transactions, making it ideal for international law practices. You can automate invoicing and payments while the built-in tax compliance tools ensure you follow local regulations. The software also offers real-time collaboration, so your team can work together, regardless of location. With its detailed financial reporting, you can easily monitor your firm's performance and make data-driven decisions.
Standout features & integrations:
Features include multi-currency support, bank account integrations, automated invoicing, and built-in tax compliance tools to monitor your finances.
Integrations include Zoho CRM, Zoho Projects, Zoho Inventory, Zoho Analytics, Zoho Expense, Zoho Subscriptions, PayPal, Stripe, and Microsoft Office 365.
Pros and cons
Pros:
- Strong tax compliance tools
- Flexible invoicing customization options
- Multi-currency support for international firms
Cons:
- Limited advanced customization for workflows
- Steeper learning curve for reports
FreshBooks is an accounting software that simplifies invoicing, expenses, and time tracking for small businesses and freelancers. It supports key business functions like managing finances, creating reports, and organizing payments.
Why I picked FreshBooks: FreshBooks automates invoicing and expenses, so you can easily keep track of your payments without hassle. You can send customizable invoices and accept payments online. The software also includes time-tracking tools, making it simple to track billable hours and generate detailed reports. Additionally, its user-friendly dashboard helps you manage all your financial tasks in one place, giving you more time to focus on your work.
Standout features & integrations:
Features include easy invoicing, time tracking, and expense management to keep your finances organized. You can send customizable invoices, accept payments online, and track your work hours in one place. FreshBooks also helps generate detailed financial reports, making it simple to stay on top of your business finances.
Integrations include Gusto, Stripe, Shopify, PayPal, Squarespace, Fundbox, Bench, Gmail, Zapier, and Slack.
Pros and cons
Pros:
- Reliable customer support access
- Intuitive report generation tools
- Simple invoicing customization options
Cons:
- No advanced inventory management
- Limited accounting feature depth
MyCase is a legal practice management software designed to simplify case management, billing, and communication for law firms. It enables users to handle document storage, time tracking, and client collaboration in one place.
Why I picked MyCase: MyCase lets you manage all aspects of your cases with a centralized dashboard for quick access to important files and client communications. You can also automate billing and set up recurring invoices with ease. The software offers built-in time tracking to ensure accurate billing for billable hours, while its secure client portal streamlines communication, making it easy for your clients to stay in the loop.
Standout features & integrations:
Features include document management, billing automation, and a secure client portal to streamline communication. You can track time and expenses easily while keeping client information organized. The platform also offers reporting tools to give insights into your firm's financials and case progress.
Integrations include LawPay, QuickBooks, Google Calendar, Dropbox, Google Drive, Outlook, Microsoft Office, Zapier, NetDocuments, and Box.
Pros and cons
Pros:
- Simple time-tracking tools
- Easy to customize billing templates
- Fast setup and onboarding
Cons:
- Mobile app lacks full functionality
- Some learning curve for features
Rocket Matter is a legal practice management software designed to manage cases, billing, and time tracking for law firms. It offers a centralized platform for managing all aspects of legal operations, making it easier to track work and manage documents.
Why I picked Rocket Matter: Rocket Matter allows you to track billable time and generate invoices. With built-in document management, you can securely store and organize your firm’s important files. The software also includes tools for managing billing, trust accounting, and matter budgets, ensuring financial accuracy.
Standout features & integrations:
Features include time tracking, matter management, and billing automation. You can manage trust accounts, generate invoices, and store documents in one platform. Rocket Matter also provides detailed reporting tools for tracking financial performance and client activity.
Integrations include QuickBooks, LawPay, NetDocuments, Dropbox, Box, Microsoft OneDrive, Google Drive, Outlook, Gmail, and Microsoft Office 365.
Pros and cons
Pros:
- Reliable trust accounting tools
- Customizable matter management features
- Easy setup for new users
Cons:
- Lacks advanced workflow automation
- Limited advanced reporting features
Centerbase is a cloud-based legal management software designed to help law firms handle billing, time tracking, and client management from anywhere. It provides tools to track billable hours, manage cases, and streamline administrative tasks.
Why I picked Centerbase: Centerbase lets you track time from any device, making it easy to capture billable hours on the go. You can manage billing, create customized invoices, and automate your firm’s accounting processes. The software also offers mobile access to case information and client details so your team can stay connected wherever they are, while its billing and time-tracking tools help keep your firm organized and efficient.
Standout features & integrations:
Features include mobile time tracking, customizable billing, and reporting and case management tools that streamline your firm’s operations.
Integrations include Microsoft 365, QuickBooks, LawPay, NetDocuments, Docusign, Worldox, Box, Dropbox, Google Drive, and Salesforce.
Pros and cons
Pros:
- Easy setup for billing automation
- Fast time-tracking on any device
- Mobile access to case files
Cons:
- Some manual entry for reports
- Complex onboarding for larger firms
Sage Accounting is a cloud-based software designed to handle financial management tasks like invoicing, expense tracking, and cash flow management for businesses. It helps users manage their accounts with tools to automate various processes and create financial reports.
Why I picked Sage Accounting: Sage Accounting offers AI-powered data capture capabilities to reduce the time you spend on manual data entry. You can automate your invoicing and track payments effortlessly. Along with these features, the software provides real-time insights into your finances, helping you stay on top of your cash flow. Sage Accounting also makes handling compliance and tax-related tasks simple, ensuring accuracy in your financial reporting.
Standout features & integrations:
Features include AI-powered data capture, invoice creation, payment tracking, and expense management. Sage Accounting also provides real-time insights into your cash flow, helping you stay on top of your business finances.
Integrations include AutoEntry, Stripe, PayPal, A2X, Satago, GoCardless, TransferMate, Shopify, and Zapier.
Pros and cons
Pros:
- Real-time financial insights
- Flexible invoicing options
- Fast onboarding with minimal setup
Cons:
- Occasional lag in processing data
- Limited customization for reports
PCLaw is an on-premise and cloud-based legal software solution for law firms to handle billing, accounting, and matter management. It helps legal professionals manage their cases, track time, and maintain compliance with legal regulations.
Why I picked PCLaw: PCLaw excels in combining case management, billing, and accounting in one platform, so your team can handle all key aspects of running a law firm. You can generate detailed financial reports, manage trust accounts, and track billable hours without switching between multiple tools. The software’s matter management features ensure you stay on top of case progress while maintaining compliance with legal standards. Furthermore, its built-in document management also keeps all legal files organized and accessible.
Standout features & integrations:
Features include mobile timekeeping, compliance with Canadian trust accounting, and a centralized case management system. You can customize workflows to suit your needs and use document templates to save time.
Integrations include Microsoft Office 365, QuickBooks, Worldox, NetDocuments, LawPay, Juris, Tabs3, Outlook, and Word.
Pros and cons
Pros:
- Detailed financial reporting options
- Strong trust accounting features
- Fast implementation for small firms
Cons:
- Lacks advanced workflow automation
- Learning curve for reporting tools
TimeSolv is a cloud-based solution designed to help professionals manage invoicing, payments, and project management. It allows users to track billable hours, manage expenses, and generate detailed financial reports.
Why I picked TimeSolv: TimeSolv offers real-time invoicing tools that let you send invoices immediately after work completion. The system provides flexible billing options, including hourly, flat-fee, and contingency-based billing, while the software’s automated payment reminders keep your cash flow on track. Additionally, TimeSolv also helps you manage trust accounts with detailed reporting for complete financial transparency.
Standout features & integrations:
Features include easy time tracking, flexible invoicing options, and trust accounting management to keep your firm’s finances in order. You can generate detailed financial reports for accurate billing and monitor project progress with automated reminders.
Integrations include QuickBooks, Dropbox, NetDocuments, LawPay, Xero, Zapier, Microsoft Outlook, Google Calendar, Sage Intacct, and AccountEdge.
Pros and cons
Pros:
- Reliable time tracking accuracy
- Fast onboarding and setup process
- Flexible billing options available
Cons:
- Occasional lag in generating reports
- Some features require manual input
LeanLaw is a legal billing software built to streamline financial management tasks for law firms. It focuses on helping users manage billing, trust accounting, and time tracking with ease while simplifying invoicing and expense tracking.
Why I picked LeanLaw: LeanLaw integrates billing and accounting processes, allowing your team to handle invoicing and expense management in one place. You can track billable time accurately and create detailed financial reports without manual adjustments. The software’s trust accounting features ensure compliance, making it simple to handle client funds. It also provides tools for generating customized invoices that align with your firm's needs.
Standout features & integrations:
Features include easy time tracking, detailed invoicing, and trust accounting tools that simplify legal billing and financial management. You can accurately track billable hours and expenses and create customized invoices that fit your firm's billing style. LeanLaw also offers tools for generating financial reports that provide insights into your firm's performance.
Integrations include QuickBooks Online, LawPay, Microsoft Outlook, Dropbox, Clio, Zapier, Google Calendar, and Microsoft 365.
Pros and cons
Pros:
- Detailed financial reporting tools
- Reliable time-tracking features
- Flexible billing customization
Cons:
- Learning curve with report customization
- Limited scalability for large firms
Other Legal Accounting Software
Here are some additional legal accounting software options that didn’t make it onto my shortlist but are still worth checking out:
- Unity Accounting
Best for Canadian legal compliance
- Xero
Best for small law firm accounting
- Clio
Best for over 250 integrations
- CosmoLex
Best for integrated trust accounting
- Aiwyn
Best for automating revenue processes
- QuickBooks
Best for advanced accounting
- Soluno
Best for real-time docketing
Legal Accounting Software Selection Criteria
When selecting the best legal accounting software to include in this list, I considered common buyer needs and pain points like ensuring compliance with legal regulations and automating billing and invoicing tasks specific to law firms. I also used the following framework to keep my evaluation structured and fair:
Core Functionality (25% of total weighting score)
To be considered for inclusion in this list, each solution had to fulfill these common use cases:
- Generate invoices
- Track billable hours
- Manage client trust accounts
- Handle multi-currency transactions
- Produce financial reports
Additional Standout Features (25% of total weighting score)
To help further narrow down the competition, I also looked for unique features, such as:
- Built-in legal matter management
- Automated compliance tracking
- Integration with case management systems
- Document management features
- Advanced reporting and analytics
Usability (10% of total weighting score)
To get a sense of the usability of each system, I considered the following:
- Navigate between features easily
- Customize workflows
- Access clear and intuitive dashboards
- Perform tasks quickly
- Adjust to mobile or desktop use
Onboarding (10% of total weighting score)
To evaluate the onboarding experience for each platform, I considered the following:
- Access training videos and templates
- Use interactive product tours
- Engage with chatbots and support
- Join onboarding webinars
- Perform data migration quickly
Customer Support (10% of total weighting score)
To assess each software provider’s customer support services, I considered the following:
- Offer 24/7 availability
- Respond quickly
- Provide multiple contact methods
- Share comprehensive knowledge bases
- Support onboarding with dedicated specialists
Value For Money (10% of total weighting score)
To evaluate the value for money of each platform, I considered the following:
- Provide tiered pricing
- Align features with pricing tiers
- Offer flexible contract options
- Include free trials or demos
- Ensure competitive pricing within the category
Customer Reviews (10% of total weighting score)
To get a sense of overall customer satisfaction, I considered the following when reading customer reviews:
- Mention ease of use
- Reference overall product reliability
- Include satisfaction with customer support
- Share user feedback on onboarding
- Indicate pricing satisfaction
Trends In Legal Accounting Software
In my research, I sourced countless product updates, press releases, and release logs from different legal accounting software vendors. Here are some of the emerging trends I’m keeping an eye on:
- AI-Powered Insights: Vendors integrate AI to analyze financial data and offer predictive insights. This helps firms anticipate cash flow issues or billing discrepancies before they become problems. Some tools are even using AI to improve trust accounting accuracy.
- Customizable Dashboards: More software providers are allowing users to design their dashboards so they can see the data that matters most. This trend is valuable because it lets law firms personalize workflows based on their specific financial tracking needs.
- Embedded Compliance Tools: Legal accounting software is increasingly adding built-in tools for compliance monitoring. These features automatically track regional tax laws, ethical guidelines, and trust fund regulations, reducing the risk of penalties.
- Client Transparency: Several vendors now offer client portals where clients can directly view their invoices and payments in real-time. This trend builds trust between firms and clients and can even speed up payment collection by making transactions more transparent.
- Blockchain for Transaction Security: Some tools experiment with blockchain to secure client trust transactions. This gives legal firms an extra layer of security, especially when handling sensitive or high-value accounts.
What Is Legal Accounting Software?
Legal accounting software is designed to help law firms manage their financial operations. Lawyers, paralegals, and legal accountants generally use these tools to handle billing, track expenses, and manage client funds. Time tracking, invoicing, and trust accounting features help ensure accurate financial management and compliance with legal regulations. Overall, these tools simplify financial tasks and improve accuracy for legal professionals.
Features of Legal Accounting Software
When selecting legal accounting software, keep an eye out for the following key features:
- Trust Accounting: Ensures compliance by accurately managing client funds held in trust accounts.
- Time Tracking: Allows precise billable hours tracking to ensure accurate client billing.
- Invoicing: Automates the creation and distribution of invoices, reducing administrative work.
- Expense Tracking: Monitors and records all case-related expenses, aiding in accurate billing and financial management.
- Financial Reporting: Generates detailed financial reports to provide insights into the firm's financial health and performance.
- Online Payments: Facilitates the acceptance of online payments, making transactions faster and more convenient for clients.
- Payroll: Manages employee payroll, ensuring timely and accurate compensation.
- Tax Compliance: Helps ensure that the firm’s financial practices comply with tax regulations, reducing the risk of legal issues.
- Integration with Practice Management Software: Enables seamless data sharing between accounting and practice management systems, improving overall efficiency.
- Security Features: Protects sensitive financial data with strong security measures, ensuring client confidentiality and data integrity.
Benefits of Legal Accounting Software
Implementing legal accounting software provides several benefits for your team and your business. Here are a few you can look forward to:
- Improved Accuracy: Legal accounting software helps reduce errors in financial records by automating calculations and data entry.
- Time Savings: Automating tasks such as invoicing, expense tracking, and payroll frees up time for more critical work.
- Better Compliance: Features tailored for law firms ensure that you stay compliant with industry-specific financial regulations.
- Enhanced Financial Insights: Generate detailed financial reports easily, helping you make informed business decisions.
- Streamlined Billing: Simplify the billing process with automated invoice creation and payment tracking, leading to faster payments.
- Trust Accounting: Manage client funds accurately with trust accounting features that prevent overdrawing and ensure proper handling.
- Improved Client Trust: Transparency in billing and financial management builds trust with clients, as they can see detailed breakdowns of costs.
Costs & Pricing of Legal Accounting Software
Selecting legal accounting software requires an understanding of the various pricing models and plans available. Costs vary based on features, team size, add-ons, and more. The table below summarizes common plans, their average prices, and typical features included in legal accounting software solutions:
Plan Comparison Table for Legal Accounting Software
| Plan Type | Average Price | Common Features |
| Free Plan | $0 | Basic time tracking, limited invoicing, and essential task management. |
| Personal Plan | $10-$50/user/month | Advanced time tracking, basic IOLTA compliance, customizable invoicing, and mobile access. |
| Business Plan | $50-$150/user/month | Full IOLTA compliance, advanced reporting, client portal, and integration with other tools. |
| Enterprise Plan | $150+/user/month | Customizable workflows, premium support, advanced security, and dedicated account management. |
Legal Accounting Software FAQs
Here are some answers to common questions about legal accounting software:
How does legal accounting software help with trust accounting compliance?
Legal accounting software helps you manage trust accounts by ensuring compliance with regulations like IOLTA. It maintains detailed records and separates client funds from operating funds, preventing commingling. Automated features like three-way reconciliation and low-balance notifications make monitoring and managing these accounts easier.
Can legal accounting software integrate with other practice management tools?
Yes, many legal accounting software options integrate seamlessly with practice management tools. This integration allows you to manage case data, billing, and financial operations in one place, improving overall efficiency. For example, MyCase and Clio offer integrated platforms that combine accounting and case management features.
How does legal accounting software handle billing and invoicing?
Legal accounting software simplifies billing and invoicing by automating these processes. You can track billable hours, generate invoices, and process online payments all within the software. This not only saves time but also ensures accuracy and timely payments from clients.
Is it easy to switch from general accounting software to legal-specific accounting software?
Switching to legal-specific accounting software can be straightforward, especially if the new software offers migration support. Many providers offer onboarding assistance and resources to help you transition smoothly. The benefits of using software tailored to your firm’s needs often outweigh the initial effort of switching.
Other Accounting Software Options
If you still haven’t found what you’re looking for here, check out these other tools that we’ve tested and evaluated:
- Accounting Software For Midsize Businesses
- Accounting Software for PC
- Engineering Accounting Software
- Accounting Software for Teams
- Accounting Software With CRM
- Real Estate Accounting Software
- Accounting Software With Client Portals
- Multi-Company Accounting Software
- Accounting Software for Startups
- AI Accounting Software
- Accounting Workflow Management Software
- Accounting Software With Payroll For Small Businesses
- Accounting Software For Service Companies
- Accounting Software For Rental Properties
- Accounting Software For Advertising Agencies
- Accounting Software For The Self-Employed
- Accounting Software For Large Business
- Accounting Software For Consultants
- Accounting Software for Mac
- Accounting Software For Accountants
- Cloud-Based Accounting Software
- Lease Accounting Software
- Small Business Accounting Software
- Property Management Accounting Software
- Construction Accounting Software
- Accounting Software For Nonprofits
- Online Accounting Software
- Business Accounting Software
What’s Next?
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