Law practice management platform Filevine has introduced a new feature whereby law firms can accept electronic payments from clients, thus rounding off its suite of time and billing capabilities. This extended offering is being referred to as Time Tracking, Billing, and Payments.
The Payments by Filevine feature allows law firms to accept ACH, credit card, and debit card payments. Payment collection can also be tracked, automated, and customized according to the needs of the firm. In line with this, whenever an invoice is paid by a client via a link, the payment is directly applied to the client’s account and the status of the invoice is immediately updated.
Filevine attests that this addition provides a capstone to an end-to-end billing cycle, accommodating a variety of fee agreements. Whether a firm applies contingency fees, hourly billing, or flat fees, Filevine now equips them with a streamlined process to create time entries or fee items, incorporate them into an invoice, and subsequently receive payment in a more effortless way.
In a related development, Filevine has announced it will provide free user licenses to its basic platform for firms comprising of two or fewer employees. This offer is conditional and exists provided these firms process $500,000 in payments annually via Filevine Payments.
To learn more about the intricacies of this new feature, you may refer to the original coverage here.