TimeSolv Review: Features and Pricing 2023

The timekeeper dashboard makes it easy for you to track actual billable hours, amounts, and billing rates and compare them to your targets within a certain period. The new dashboard includes three tabs:

1. Hours: Shows the target billable hours, actual total hours, and actual billable hours
2. Amount: Shows the target billable amount, actual billable amount, and collected amount
3. Billing rate: Shows your target billing rate and actual billing rate.

TimeSolv’s timekeeper dashboard

We like how the dashboard is set up because it allows you to review these individual billing statistics, which helps you see which aspects of your business are the most profitable and which ones need your attention. Each timekeeper has their own dashboard so that they can track personal progress.

To set up target hours, amount, and billing rates, click on the Dashboard menu and select the Settings drop-down. Once your targets are set up, you can see actual progress against targets on the timekeeper dashboard:

• Track expenses with no timekeepers: With the new version of TimeSolv, firm admins can now track expenses that aren’t associated with a billing timekeeper. It’s important to track such expenses to understand the overall profitability of your firm better.
• Restrict payment method: Firm owners or admins can now restrict payment methods―credit card and automated clearing house (ACH) payments. This means clients can only make payments using the preset payment methods, giving your firm an additional layer of billing security.

One of the biggest benefits of using TimeSolv’s time tracking system is that you can use it from any device, even offline. To enter hours in TimeSolv, go to the Time tab on top of the main page, click on the Time Entry drop-down, provide the required information, like the number of hours and rate, and then click Save & New. You can also start a new timer right from the New Entry form. Click on the Start Timer button, and a running time entry window appears below the form.

Check out the GIF below to see how time tracking works in TimeSolv.

Tracking time in TimeSolv

TimeSync is a free desktop app available for Windows and Mac users. It can record time and expense entries even without an internet connection. You can log hours and expenses wherever you are, and when you get back online, sync your entries to TimeSolv with a single click. TimeSolv has an installation guide to help you install and set up TimeSync properly.

TimeSolv lets you create expense entries directly using its Expense Entry form, which you can launch from the Expense menu. From the new expense entry form, you need to provide information, including matter, expense code, quantity, and price per unit. You can also attach a receipt if needed.

Similar to the time tracking dashboard, the expense entry dashboard allows you to mark entries according to client and subject matter. Expenses may also be tagged with American Bar Association (ABA) expense codes. This can help you bill expenses to the appropriate client.

Creating a new expense entry in TimeSolv

Recurring expense entries make it easy for you to charge your clients for routine charges, such as technology fees and expenses that you charge for copies. When this feature is enabled, you can specify the frequency of a certain expense entry, as well as the start and end dates. If you need to end a recurring expense, then go back to the expense entry and specify an end date.

New recurring expense entry form in TimeSolv (Source: TimeSolv)

TimeSolv offers flexible billing templates depending on your subscription. You can split bills, batch invoices, or choose fixed fees when billing clients. You may also choose to schedule the issuance of invoices for recurring billings. The invoices can be sent electronically to the client from within the TimeSolv platform itself.

Creating a new invoice in TimeSolv is pretty easy. Click on the Invoices menu, select the Drafts drop-down, and create your new invoice using the Create Draft Invoices form.

Creating a new invoice in TimeSolv

While creating invoices in TimeSolv is straightforward, there are some areas that need improvement. For instance, we couldn’t find any option to convert a time entry into an invoice instantly. Other software programs like Zola Suite allow you to do that.

TimeSolv’s trust accounting feature allows you to pay invoices automatically from your trust accounts or replenish accounts when they fall below the user-designated threshold. With TimeSolv, you can handle multiple trust accounts and pay trust accounts using credit cards. It also allows the transfer of funds between trust matters accounts, which is extremely useful if you’re managing different matters for a single client.

Project managers can use TimeSolv to track all aspects of their ongoing projects, as it can store and generate information, ranging from scheduling to managing budgets and setting milestones. They can also use the platform to see how much progress has been made on a particular task.

To build projects in TimeSolv, you need to create a new matter first. When a new matter is created, click on the Matter Plan tab on the Matter Details screen; and then from here, you can start creating projects and assign them to responsible professionals. You can track the status of the projects and mark them complete if they’re successfully executed.

Project management in TimeSolv

This provides you with a streamlined way to store and manage legal documents. You can organize your files by creating as many folders and subfolders as you need, setting up tags to find the files you need easily, and adding descriptions so that others can see what the document is about before viewing it.

The client portal enables your clients to track their transactions with you, including invoices, balance, and work in progress. You can also accept payments within the client portal. You won’t be able to see the client portal readily when you log in to your TimeSolv account for the first time.

If you wish to set up a client portal, you need to enable this feature from the Settings tab, under the Clients menu. Scroll down to the bottom of the screen and select the Enable Portal checkbox. To create a portal for your client, select Contacts under the Clients menu, and then click on the Edit link at the far right side of the screen next to the client you wish to grant access to the portal. Click on Update, and then TimeSolv will email your client with the login credentials you provided for them.

Creating a client portal in TimeSolv

TimeSolv has a built-in payment solution called TimeSolv Pay to help you process credit card and automated clearing house (ACH) payments from your clients easily. It records all payment information, allowing you to keep track of every invoice transaction. Your clients can view and track the status of their payments and deposits within the client portal. You don’t have to pay monthly fees to use TimeSolv Pay.

You can generate different types of reports, including time and expense, accounting, and matter-related. Examples of time and expense reports include time entries, time entry summaries, expense entries, and missing time. Accounting reports include accounts receivable and ledger entries. You can also generate reports on invoice summaries, aged summaries, cash receipts, and payment histories.

TimeSolv has a fairly flexible reporting capability. For instance, time reports can be run across default parameters or grouped by client and matter or by a combination of client, matter, and timekeepers.

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On App Store

The TimeSolv mobile application is used to track time and expenses on the go. Similar to the web dashboard, you can input the number of hours you worked on a matter manually or use its built-in timer. You can download the app on Google Play and App Store.