RainMakerLegal Legal Accounting Software for Attorneys | Accounting Legal Software for Law Firms

RainMaker Platinum – Accounting Software Solutions for Law Firms
Financial Management at a Glance

RainMaker Platinum Financial Management is a result of working with hundreds of clients to analyze their needs and to provide a system built specifically for today's more demanding law firms. Law firms asked for more than just routine financial management legal accounting and billing software, they wanted advanced features, flexible set-up options and tools to improve productivity and profitability.

RainMaker Platinum legal accounting and billing software helps to improve a law firm's profitability and cash flow by reducing the time it takes to generate complex bills, speeding up client payments, streamlining the cash receipts process and effectively handling the firm's accounts receivable. The legal accounting software modules provide the expense controls and reporting necessary to manage the assets and liabilities of the firm.

The Goal

"Our firm needed an accounting software system designed exclusively for law firms that would allow for flexible, efficient reporting capabilities, particularly for ad-hoc report requests from partners, as this was our most time-consuming process. Furthermore, we needed a way to provide billing formats to more demanding clients without the expense of custom programming or drafting the bills outside the system in word processing."
– Director of Finance & Administration

Current Situation

Under the law firm's former legal accounting software system, ad-hoc information requests were virtually impossible to produce and basic reporting was inflexible, difficult and cumbersome. The accounting department was responsible for manually extracting information for monthly and ad-hoc reports from the system, and then transferring that information into a Microsoft® Excel spreadsheet. With the former accounting legal software system, on average, the accounting department spent 12 hours a month re-keying information from system reports to spreadsheets. This process generated unreliable information which was detrimental to the law firm’s business practice. Re-keying of data also resulted in lost productivity during busy month-end periods along with frustration by staff members who were being underutilized. Errors in this process often affected attorney compensation.

The law firm had important clients requesting more information on bills than could be provided with the former system. The billing department had to either manually draft bills in word processing or explain to the partners that the system just couldn’t meet the client’s request without expensive custom programming.

The RainMaker Platinum Solution

The RainMaker Platinum legal accounting and billing solution enabled a once complex and cumbersome reporting process, to become a streamlined procedure. Through the use of the Custom Report Builder, the accounting department is now more responsive to partner ad-hoc requests without incurring additional costs or time spent re-keying data. The department is now able to run 15 reports from RainMaker's accounting legal software and then consolidate them into three reports which satisfy all Partner requests. Also, the RainMaker Platinum solution eliminated possible errors transferring data from reports to Microsoft® Excel spreadsheets, since all of the functions are condensed automatically by the system.

Implementing RainMaker Platinum legal accounting software enabled the firm to reduce the time it took to convert recorded time into cash. Additional capabilities include more efficient time-collection and bill-editing features. Additionally, the firm was able to prepare P&Ls based on firm, office, department or practice group; establish and measure Key Performance Indicators (KPI); create its own custom bill formats; push daily or weekly cash flow reports to shareholders and project cash requirements.

RainMaker Platinum Can Help Your Law Firm:

Optimize the time it takes to convert time recorded into cash, with more efficient time- collection & bill-editing capabilities.
Prepare P&Ls based on firm, office, department or practice group.
Establish and measure Key Performance Indicators.
Create custom bill formats with Graphic Bill Designer.
Push daily or weekly cash receipts to the shareholders portal.
Establish Smart Alerts based on Key Performance Indicators.
Project cash requirements.

Legal Accounting and Billing Product Features:

Time & Billing – The RainMaker Platinum Time and Billing Module will save time and eliminate unnecessary keystrokes. All functions are selected from logical menus or icons so single keystrokes or mouse clicks are all that is required to invoke system functions. RainMaker Platinum Time and Billing includes a host of features such as: Graphic Bill Designer, Rate Tracking, Management Reporting, AP Voucher Imaging, Zoom – Inquiry Analyzer, Electronic Billing Interface (EBI), Cost Capture & Document Management Interfacing, Revalue Time, Reverse Billing, A/R Work Bench and Task-Based Billing & Budgeting.
General Ledger – This rule-based module provides the flexibility to set up specific requirements for updating the G/L from particular transactions in client accounting and AP and, once rules are established, the G/L is automatically maintained. RainMaker Platinum General Ledger Module will improve the efficiency of your financial management through reduced keystrokes, increased flexibility, accuracy and ease of use. Features of the RainMaker Platinum G/L module include; Recurring Journal Entries, Report Wizard/Manager, Bank Account Manager, Bank Account Reconciliation, Account Budgets and G/L Masking.
Accounts Payable – The Accounts Payable module is designed to help you manage your cash requirements and easily handle both firm and client related payments of expenses incurred. This module is fully integrated with RainMaker Platinum Client Accounting, General Ledger and Trust Accounting modules. The integration improves the efficiency of your financial management through reduced keystrokes, increased flexibility, accuracy and simplicity of use. RainMaker Platinum Accounts Payable module includes; advanced capabilities such as, Unlimited Check Formats, Multiple Addresses per Vendor, 1099 Module, Automatic Checking for Duplicate Invoices, Suite of AP Reports, Generic Vendors, Invoice Imaging, Separate Checks for Vendors and Client Disbursements.