How To Request Trust Or Retainer Funds Online [MyCase Product Update: Request Funds]
We talk about the struggles of getting paid as a lawyer a lot on the MyCase blog. From the “5 Things Lawyers Need to Know When Accepting Online Credit Card Payments” to sharing “Legal Billing Tips for Solo and Small Firm Lawyers,” we’re always looking for ways to help save you time and streamline the legal billing process.
That’s why we’re excited to announce another great way MyCase can help you run a more efficient practice and drive revenue: Request Funds.
With the Request Funds feature in MyCase, your clients receive a customized message from your firm and can quickly pay requests through their Client Portal. The best part? Request Funds works seamlessly with MyCase Payments, eliminating accounting headaches and streamlining record keeping by automatically reconciling everything in MyCase.
Request Trust or Retainer Funds from Clients in Less Than a Minute!
Forget about printing and mailing paper invoices or spending time chasing down clients. Request Funds allows you to turn a process that would take multiple steps (most likely across multiple programs) and consolidate it into something you can manage in MyCase with just a few clicks of the mouse!
You don’t even need to have a case created in MyCase to request trust or retainer funds. Now you can avoid using “ghosts cases” and keep better records by simply requesting funds from a contact in MyCase. Just setup the case for a future date when you’re ready to start work (with the funds already in your account).
Instead of wasting the time and effort of sending out multiple invoices through the mail at the end of the month (and waiting days/weeks for those bills to get paid), all you need to do is log into MyCase and batch invoice all of your clients at once. They’ll be notified of the amount they need to pay and can then pay when and where it’s convenient for them.
Increase Your Law Firm’s Cash Flow
There’s no debate: sending electronic funds requests and receiving payments online saves you time. It also helps increase your law firm’s cash flow by helping get you paid faster. Plus, today’s consumer not only wants to be able to pay online, they expect it.
Powerful and easy-to-use features like sending an Invoice Reminder or receiving Low Balance Notifications will help you stay organized and on top of your business. And your clients experience a seamless and simple payment process that can be completed right from their mobile device. By managing all of your billing and invoicing in your case management software, you’ll increase your chances of getting paid sooner.
How to Request Funds with Confidence
Staying PCI Compliant and following trust accounting guidelines are part of your responsibilities as a lawyer, but some of these requirements are not always clear. Plus, some online payment processors make it even more confusing by charging monthly service fees (even if you don’t use the service) or hidden processing fees you may not even realize you’re paying.
Requests made through MyCase are legally compliant and settle within MyCase, so you have an integrated, holistic system for all of your invoicing and payment collection needs. When sending a request, you can add a custom message to your client, with an optional due date, so you can communicate clearly and set expectations up front when it comes to how your firm processes and accepts payments.
MyCase eliminates accounting headaches and lets you manage all your accounts receivable in one system, without the hassles and manual entry work of paper billing. You can rest easy knowing that MyCase Payments keeps trust and operating accounts separate, ensuring that any fees are taken out of the operating account. With MyCase Payments, you can request and process funds with confidence.
And in the rare case that you encounter any issues or problems, just contact the award-winning MyCase customer support team with questions about MyCase or your payment processing. Stop dealing with multiple services and support departments and instead work with a company that truly understands how attorneys manage and run their businesses. Let MyCase handle everything so you can practice more and manage less.
Are you a MyCase customer and not yet setup with MyCase Payments? Get started today!
Not using the MyCase all-in-one practice management system to manage your cases, clients and accounting? Start your free MyCase trial today!