Accruals Management

Turn accruals into a math problem, not a guessing game.

In-house legal relies on their law firms to provide timely invoices and accurate estimates of what those invoices will read at the end of each month. Both are essential in making sure there are no spend or budget-related surprises for the legal and finance departments.

But law firms don’t always get accruals right.

If your in-house legal team spends hours sending emails to chase down accruals and constantly feels like expenses aren’t being recognized when incurred, it’s time to have a conversation with your law firms. Don't know where to start? Download our Law Firm Training Template.

The Law Firm Training Template provides a framework for:

• Training your law firms on the importance of accruals
• Helping your law firms accurately and effectively calculate accruals
• Explaining how and when your law firms should submit accruals

It’s not just an accounting exercise. Timely billing and accurate forecasts are a critical factor when you measure quality of service and determine which firms will help you achieve your goals both now and in the future.

Automated Accruals

Every month, SimpleLegal automatically emails your firms, reminding them to submit accruals. In just a few clicks, your law firms submit accruals directly into our system so all data is accessible from one convenient place.

Better Insights

With a tool like SimpleLegal, you have more control over your spend and are provided with up-to-the-minute dollar figures so you know exactly where each dollar is being spent. Staying within budget has never been easier.

Enhanced Relationships

By providing your law firms and vendors with more direction and an easy way to communicate about accruals, you can be confident that billing is accurate and expenses are being recognized when incurred, despite when they're paid.