What Method Does Your Firm Use To Track Time?

Trust Accounting

Sometimes one of the most overlooked aspects of practicing law is time tracking. While it is sometimes overlooked or taken less seriously than it probably should be, don’t be fooled – it is extremely important.

You may be one of the best lawyers in the courtroom, but if you aren’t accurately tracking the time you spend on legal matters it could have negative effects on your practice.

Of course, there is the possibility that because of poor time tracking, you may be missing out on income due to under billing your clients. It is also possible that you may be accidentally overbilling clients and taking a hit to your credibility and reputation as an attorney. Either way, it’s clear that your firm needs to have an effective time tracking method in place.

Here are some different methods your firm can use to track time.

Legal Time Tracking Methods

Pen & Paper Time Tracking

Some would call it old-fashioned, and they would be right. While it may be old fashioned, some lawyers still do track their time with a pen and paper. The issue is that attorneys aren’t working the same way anymore. They work anytime, anywhere, and unless they are extremely diligent in keeping track of the many loose pieces of paper they are using to track time, it will be extremely difficult to get an accurate account of the time spent on different legal matters.

Track Time In Spreadsheets

Much of the work that an attorney does involves a computer. Time is spent on the computer, emailing, researching, and even engaging in live chat with clients or other attorneys. It only makes sense that time could be easily tracked inside of a spreadsheet on the same computer. The only issue with tracking time on a spreadsheet is that it may not be accessible to multiple devices and users. Firms and attorneys using native software (like Microsoft Excel) are limited to one central device or user that can track their time.

Legal Time Tracking In The Cloud

Legal time tracking in the cloud may be the most effective method used by attorneys and their firms to track time. Some firms may use cloud-based spreadsheets (like Google Sheets) to increase access and the agility in which their attorneys can operate. This is certainly an improvement upon native spreadsheets like Microsoft Excel, but there is an even better legal time tracking option available in the cloud.

CosmoLex takes legal time tracking in the cloud a step further than a spreadsheet. Accessible in the cloud across multiple devices and available to multiple users, members of your firm can easily attach time recorded to the matter it is associated with as it happens. Taking things a step further, CosmoLex can even passively track time in the background while you work on multiple matters. This takes the onus off of your firm when it comes to tracking every last second you spend on a matter and does it for you!

You can make time tracking easier for you and your firm by signing up for a free 30 day trial of CosmoLex today.


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