Product Details

Case Expense Tracker

Complete case expense accounting system for trial law firms.

All too often, contingency fee law firms are not able to recoup permissible litigation expenses from settlements, as tracking individual case expenses are quite complicated. The rule is very simple: if you didn't track it, you can't charge it.

It is also critical that contingency case expenses are maintained and tracked separate from normal operating expenses, as these expenses may not be tax deductible from current-year income (they are considered non-deductible loan to the client by IRS. See IRS Letter Ruling 8246013). This means that litigation costs will have to be carried on the books for years until the matter is settled, won or lost. The expenses are then deducted against any award in the year of the disposition.

A number of jurisdictions also allow finance charges incurred from borrowed case costs to be charged to the settlement (see local ethics rules. Appropriate fee arrangements and client consent may be required).

At the end of the day, to run a profitable and IRS/Ethics compliant contingency-based litigation practice, you'll need to accurately track every transaction on a case-by-case basis. Easy Soft's Case Expense Tracker is a complete case expense accounting system, designed specifically for contingency based law firms.

Use Case Expense Tracker to:

• Enter and track litigation expenses for each case, kept separate from your normal firm operating expenses.
• Track funds as they move in and out of individual cases, and print checks as needed.
• Compute financing costs dynamically for each case, based on your bank's interest rates.
• Select and prepare from a comprehensive list of reporting options, such as itemized case closing statements, case balance summaries and categorized expense statements.
• View your total matter escrow balance (if using Easy Trust).

Litigation costs paid directly out of firm earnings ties up valuable capital. Borrowing allows us to take on new matters and finacing costs can be charged to the settlement.. But it's critical we track every last dollar back to each case, or risk running afoul of the IRS or Ethics Rules. With Case Expense Tracker, we're able to track every penny back to each case including accurate allocation of case finance costs, and know, at any time, our case balance summaries. Francisco J. Rodriguez, Goldsmith Harz, LLP, New Jersey

Download and try Case Expense Tracker today. With software licenses starting at $249, which includes unlimited, live-by-phone technical support for one year, you'll see why, for over 20 years, Easy Soft has been the trusted choice in law office automation solutions. All product purchases come with an unconditional 30-day money back guarantee.

Click here to experience for yourself the user interface of Case Expense Tracker Software.

At Easy Soft, our goal is to make getting product technical help and training as uncomplicated as possible. From live phone support, weekly webinars, web-based training videos to our technical articles library and FAQs, you’ll find a comprehensive range of choices to get the greatest benefit from your new legal software (to access product support options, click on Product Videos/Articles tab at the bottom).

 

KEY PROGRAM FEATURES

Efficiently manage case expenses, increase profit and stay compliant. Enter, track and reconcile all disbursements for each individual case, separate from regular operating expenses.