Your Law Firm's Financial Report Card
Six dimensions. Six letter grades. Instant results — no spreadsheet download required. Find out exactly where your firm's money is leaking and what to do about it.
Utilization
Target: 85%+
Realization
Target: 90%+
Collections
Target: 97%+
Overhead
Target: ≤45%
Profitability
Target: 30–50%
Billing Speed
Best practice: ≤7 days
What the Report Card Measures
Every law firm's financial health can be tracked back to six core metrics. Together, they form the complete picture of where money is earned, where it leaks, and where it's recovered.
Utilization
Target: 85%+How much of your attorneys' potential capacity is being worked and recorded.
Realization
Target: 90%+How much of the time worked makes it onto a client invoice after write-downs.
Collections
Target: 97%+How much of your invoiced amount is actually collected from clients.
Overhead
Target: ≤45%Non-timekeeper expenses as a percentage of revenue.
Profitability
Target: 30–50%Your firm's net margin after all expenses — the ultimate scorecard metric.
Billing Speed
Best practice: ≤7 daysAverage days from matter activity to invoice sent — a key cash-flow driver.
Get Your Grades in Under 3 Minutes
Answer a short set of questions about your firm's finances. Your letter grade per dimension and overall grade appear instantly — with specific recommendations for each gap.
Get Your Firm's Financial Report Card
Answer 6 quick questions about your firm's finances. In under 3 minutes, you'll receive a letter grade in each of the six dimensions that drive law firm profitability — plus tailored recommendations to close your biggest gaps.
Your data stays in your browser. Nothing is stored or transmitted.
"We finally know which flat fees are making us money and which ones are killing us."
Karyn Anderson
Total Sum Accounting
LeanLaw Addresses Every Dimension on Your Report Card
Most law firm financial problems are operational, not market-driven. LeanLaw provides the specific workflows and reporting that move each metric: from time capture to invoice to payment, every step is tracked, automated, and visible in real time.
- Utilization: Mobile time capture and daily reminders recover 1–3 hours/week per attorney.
- Realization: Matter-level billing reports identify write-down patterns before they compound.
- Collections: Automated invoicing and e-payment links get invoices paid 70% faster.
- Overhead & Profitability: Live QuickBooks Online integration keeps your P&L and margin current with zero manual entry.
- Billing Speed: Rolling billing workflows replace month-end batch billing — invoices go out in days, not weeks.
"We've used LeanLaw for a year and a half and we're able to invoice our clients within two to three days, versus 10 or 12 — quickly and electronically, and they pay us faster, which increases our cash flow."
Alicia Wood, Firm Administrator
Burkhalter Law
$61K
in leaked revenue recovered per attorney, per year.
That's money that was already earned but never captured — unbilled time, under-priced flat fees, write-downs, and slow collections. The report card shows you exactly where it's going. LeanLaw closes those gaps permanently.
Why firms trust LeanLaw
Knowing Your Grade Is Step One
The report card identifies where profit is leaking. The next step is implementing the systems that close those leaks — and keep them closed. That's what LeanLaw is built to do.
Unlike generic practice management tools, LeanLaw is purpose-built for revenue operations: from time capture to invoice to payment, every step is tracked, automated, and visible in real time through native QuickBooks Online integration.
- Recover the $61K in leaked revenue hiding in your current workflow
- Invoice clients in days, not weeks — and get paid 70% faster
- Know which flat-fee matters are profitable before you reprice them
- Real-time QuickBooks Online sync — no manual entry, no stale data
- From onboarding to collections, every step runs on a system
Law Firm Financial Report Card — FAQs
Common questions about the assessment, the benchmarks, and how LeanLaw helps law firms improve their financial grades.
What is a law firm financial report card?
A financial report card assesses your firm's performance across six key revenue-cycle metrics and grades each against industry benchmarks sourced from NALP and Thomson Reuters. It shows you exactly where profit is leaking — and what to do about it.
How is this different from the downloadable spreadsheet?
This interactive version gives you instant results in your browser — no download, no email required. Enter your numbers, hit submit, and see your letter grade per dimension alongside specific, prioritized recommendations.
What data do I need to complete the assessment?
You need six data points: target and actual billable hours per attorney, invoiced hours, total dollars invoiced and collected, overhead percentage, net profit margin, and average days to invoice. Most firm administrators have these readily available.
Is my financial data stored or shared?
No. The entire assessment runs in your browser. Your numbers are never transmitted to a server or stored anywhere. They disappear when you close or refresh the page.
What is a good realization rate for a law firm?
90% or higher is considered excellent. Rates of 80–89% are good, 70–79% need attention, and below 70% is a material profit leak. LeanLaw firms track write-downs at the matter and attorney level to identify and address patterns.
How can LeanLaw help improve my grades?
LeanLaw directly addresses every dimension on this report card: daily time-capture tools boost utilization; matter-level billing reports improve realization; automated invoicing and e-payments accelerate collections; deep QuickBooks Online integration gives you real-time overhead and profitability visibility.
Still have questions? Talk to the LeanLaw team
"Tracking payments to specific matters was a nightmare before LeanLaw. Now everything syncs to QuickBooks automatically. We see invoices paid 70% faster."
Amanda Coughlan, Billing Coordinator
Zahn Law Group
Stop Leaking Profit. Start Keeping It.
Your report card shows where the leaks are. LeanLaw provides the systems that seal them — from time capture to invoice to payment, every step tracked and automated. Join 1,000+ law firms that run their finances on LeanLaw.