The big takeaways:
- Clear billing and upfront retainers help firms get paid faster and reduce unpaid invoices.
- CARET Pay makes it easy for clients to pay online using secure links and multiple payment methods.
- CARET Legal helps firms follow up on overdue accounts and manage collections in one system.
For many law firms, delayed payments and high write-offs are not a result of client unwillingness but rather of inefficiencies in billing and follow-up. Improving collections is about shortening the time between work performed and payment received. It requires a combination of consistent processes, proactive client communication, and the right legal billing software.
CARET Legal supports law firms in building stronger collection practices through integrated tools that manage billing, invoicing, and payment all in one unified system. From issuing clear, timely invoices to offering secure, client-friendly payment options, CARET Legal helps firms reduce administrative friction and improve cash flow.
Firms that consistently follow best practices see fewer unpaid invoices and less time spent chasing down overdue accounts. CARET Legal provides the infrastructure to put these practices in place efficiently and at scale.
Clear, Timely Invoices and Upfront Retainers
One of the simplest and most effective ways to prevent payment issues is to set expectations from the start. That includes:
- Collecting retainers before beginning work
- Using engagement letters that clearly outline fee structures and billing timelines
- Agreeing on payment terms in writing
CARET Legal makes it easy to document retainers and track balances directly within the platform. When funds are applied, they are reflected immediately in the matter ledger, giving attorneys and administrators real-time insight into available funds and billed time.
Just as important is delivering accurate invoices on a regular cadence. With CARET Legal’s legal invoice software, firms can:
- Automate invoice creation based on time entries, expenses, and flat fees
- Customize invoice templates to reflect branding and formatting preferences
- Send invoices via the secure client portal with just a few clicks
Clients appreciate clarity and consistency. A predictable billing cycle with easy-to-understand invoices builds trust and increases the likelihood of timely payments.
Streamlining Legal Payment Processing with CARET Pay
Even well-crafted invoices won’t result in prompt payment if the process of paying is inconvenient. CARET Legal integrates legal payment processing directly into the platform through CARET Pay. This system allows law firms to:
- Accept credit card and eCheck payments securely
- Embed secure payment links in emailed invoices
- Collect client payments directly from a link on their law firm website
By giving clients multiple convenient ways to pay, firms remove friction from the process. CARET Pay complies with trust accounting rules and can distinguish between operating and trust accounts, supporting ethical handling of client funds.
Firms also gain the ability to track payment statuses. Payment history is tied directly to each matter, eliminating the need to reconcile separate systems. This visibility allows staff to monitor unpaid invoices, apply payments correctly, and follow up as needed.
Proactive Follow-Up and Collection Tools
Consistent follow-up is essential to reducing outstanding receivables, but it often becomes an afterthought when managed manually across multiple systems. CARET Legal helps firms bring structure and visibility to their collections process by centralizing billing activity, enabling users to easily monitor matter balances, track receivables, and schedule reminders.
While outreach must be initiated by the firm, CARET Legal provides the tools needed to manage these communications more efficiently. With clear insight into overdue accounts, firms can prioritize high-value collections efforts and respond to delinquencies in a timely, organized manner. CARET Legal also supports flexible payment options for clients. Features like partial payments and payment plans give firms practical solutions for collecting on past-due accounts while maintaining positive client relationships.
Collections become a trackable, systematized process rather than a reactive task that drains staff time.
Building a Reliable Law Firm Payment Workflow
Collections success starts with structure. CARET Legal helps firms build reliable workflows from intake through payment. Every time entry, expense, and invoice is part of a unified system that tracks:
- What work has been done
- What has been billed
- What has been paid
This end-to-end visibility helps prevent gaps where revenue is lost due to unclear tracking or manual errors. Legal payment software should not require firms to operate in disconnected billing, timekeeping, and CRM tools.
Because CARET Legal handles everything in one platform, firms can:
- Monitor payment activity at the matter and client level
- Identify delays in the billing-to-payment cycle
- Align collections efforts with up-to-date financial data
Ultimately, the most effective law firm payment processing strategy is one that clients find easy and that firms can execute consistently. CARET Legal provides the tools to make that possible.
Start a free trial today using CARET Legal to streamline your collections process. With integrated legal billing and secure payment links, firms can reduce aging receivables and increase revenue reliability.
