TimeSolv Review: Features and Pricing 2023
This article is part of a larger series on Accounting Software.
TimeSolv is a cloud-based legal time tracking and billing solution with a built-in trust accounting system. Its features include time and expense tracking, document management, project management, client portal, and accounting integration with Xero and QuickBooks. The TimeSolv Legal plan costs $39.95 per user, per month, for one to four users, and it contains specialized features for your law firm operations. You can sign up for the TimeSolv 30-day free trial with no credit card required.
What We Like
- Can track time from anywhere, even when offline
- Integrates with QuickBooks Online and Xero to provide general bookkeeping features
- Has a streamlined timekeeper dashboard to track targets easily against actual billed hours and amounts
- Comes with built-in project management features
What's Missing
- Requires subscription to Xero or Quickbooks Online to use general bookkeeping features
- Can’t create invoices directly from time entries
- Doesn’t allow you to customize invoices
Can’t find what you’re looking for? Explore our list of the best small business accounting software to see if your law firm will benefit from general accounting solutions.
TimeSolv Deciding Factors
Supported Business Types | Solo practitioners and small and medium-sized law firms using Xero or QuickBooks accounting software |
Pricing |
(Prices decrease as the number of users increase) |
Free Trial | 30 days; no credit card required |
Money-Back Guarantee | 60 days, on the condition that you have completed its Essentials Training program |
Standout Features |
|
Customer Support | Phone support, email, ticket support, and self-serve resources, such as frequently asked questions (FAQs), troubleshooting guides, online meetings, and scheduled training sessions |
TimeSolv Notable New Features for 2023
- Recurring time entries: As with expense entries, you can set up recurring time entries based on a predefined frequency, such as daily, weekly, or monthly.
- Enhanced time and expense entry management: You can now edit time and expense entries from within an existing draft invoice in case you want to use it for a different matter and client. Alternatively, you can copy a draft invoice with the same entries and adjust the details as needed.
- Customer relationship management (CRM) Integration: TimeSolv integrates with Law Ruler to help you keep track of clients and new leads.
- Additional reports: TimeSolv has added some new reports, including:
- Reports by titles: Shows how time is being spent by a particular employee
- Accounts receivable (A/R) reports by as-of-date: Use as-of-date filters to run reports for invoice and opening balance, payments, credit memos, and other A/R transactions.
- Invoice and work in progress (WIP) aging reports: Shows how much money you invested in a client with aging of invoices and WIP.
TimeSolv Alternatives
TimeSolv Alternatives | Pricing ($/User/Month) | Built-in Accounting | Matter Management | Time Tracking | Offline Time Tracking | Recurring Expenses | CRM |
---|---|---|---|---|---|---|---|
From $39.95 | Integrates with Xero and QuickBooks | ✓ | ✓ | ✓ | ✓ | Integrates with Law Ruler | |
Custom quote | ✓ | ✓ | ✓ | ✕ | ✓ | ✕ | |
From $99 | ✓ | ✓ | ✓ | ✕ | ✓ | ✓ | |
From $60 (Essentials) with time tracking (up to five users) | ✓ | ✕ | ✓ | ✕ | ✓ | ✕ | |
From $69 | ✓ | ✓ | ✓ | ✕ | ✓ | ✓ |
TimeSolv Pricing
TimeSolv offers two products: TimeSolv Pro ($27.95 per user monthly for one to nine seats) and TimeSolv Legal ($39.95 per user monthly for one to four seats). Prices decrease as you add more seats.
TimeSolv Pro offers basic legal billing and matter management features. Meanwhile, TimeSolv Legal includes advanced legal-specific features, such as trust accounting, Legal Electronic Data Exchange Standard (LEDES) billing, and conflicts of interest management.
TimeSolv Pro Pricing
Number of Users | $/User/Month (Monthly Billing) | $/User/Month (Annual Billing) |
---|---|---|
1 to 9 | $27.95 | $25.16 |
10 to 24 | $22.95 | $20.66 |
25-plus | $20.95 | $18.86 |
TimeSolv Legal Pricing
Number of Users | $/User/Month (Monthly Billing) | $/User/Month (Annual Billing) |
---|---|---|
1 to 4 | $39.95 | $35.95 |
10 to 14 | $37.95 | $34.16 |
14-plus | $35.95 | $32.36 |
If you’re unhappy after six months of using the software, TimeSolv will refund your money, but only if you have completed its Essentials Training program with a TimeSolv Success Manager.
Tip:
We recommend TimeSolv Legal for law firms; it includes legal-specific features, such as trust account setup and LEDES billing. Trust accounts are necessary for law firms to separate their client funds given in trust from their operating funds.
TimeSolv Features
TimeSolv can help lawyers increase their profitability accurately through its time tracking, invoicing, and web-based billing capabilities. It can also manage expenses, to-do lists, and documents.
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:
- Hours: Shows the target billable hours, actual total hours, and actual billable hours
- Amount: Shows the target billable amount, actual billable amount, and collected amount
- 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.
Tip:
Sync your time and expense entries daily or as soon as you get back online to maintain consistency of your data between the systems.
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.
2.3
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.
TimeSolv Customer Service & Ease of Use
TimeSolv has an easy-to-use interface. It has a neat layout with organized menus and drop-downs, so you can quickly find the features you need. Even if you’re a beginner, you can add a new client or matter effortlessly, enter time or expenses, and create and send invoices. When looking up data, you can use the search filter to expedite the process.
A useful feature we found is the ability to duplicate matter and time expense entries. Instead of having to create a completely new, different entry, you can copy an existing entry and then the details accordingly.
If you need help, there are plenty of ways you can seek support from TimeSolv. You can contact its team over the phone, through email, and by submitting a support ticket. They also provide vast resources, including frequently asked questions (FAQs), online meetings, and scheduled training sessions. If you need help with transitioning from your existing system to TimeSolv, the company has a TimeSolv Certified Consultant (TSCC) program that helps law firms hire a TimeSolv expert.
TimeSolv User Reviews
We found mostly positive TimeSolv reviews. Some users commented that the interface is simple and that they can create new clients, bills, matters, and time and expense entries easily. Others like that there are different methods to track time and expenses incurred. Meanwhile, users who left negative comments complained that they’re unable to customize the invoices based on their preferences.
Overall, most users are happy with TimeSolv, as reflected in its ratings from popular review sites:
TimeSolv FAQs
Is TimeSolv easy to use?
Yes, it is, as TimeSolv has a user-friendly layout that’s easy to understand. From the homepage, you can locate the features you need easily, and it only requires a few steps to create or add clients, matters, and time and expense entries.
What accounting software can I connect to TimeSolv?
TimeSolv integrates with QuickBooks Online, QuickBooks Desktop, and Xero.
What other legal accounting software can I consider if TimeSolv isn’t for me?
If TimeSolv isn’t suitable for you, then explore our guide to the best law firm accounting software. If you prefer general accounting software, then you can choose from our top-rated small business accounting software.
Bottom Line
TimeSolv may not be an all-in-one legal billing and accounting solution, but when integrated with Xero or QuickBooks, it can be very capable accounting software. It lacks some functions, such as CRM and client intake forms, but if you need a powerful solution to streamline your legal billing and timekeeping workflows, then TimeSolv will suffice. It boasts some great features, like a timekeeping dashboard, trust accounting, and the ability to log time and expenses offline with the free TimeSync desktop app.