Accuracy in bookkeeping is a meditation of what’s happening in everyday life. If your books are a “mess,” it’s often an indicator of disorganization in your processes and procedures. You may: Lack the resources to manage your books properly Need to integrate processes to keep your books accurate Want to invest in state-of-the-art tools to […]
While Law firms must follow strict compliance and ethics rules for trust management, the rest of their business is pretty simple and straightforward. The accounting basics can help you track revenue and expenditures, better manage your time, and find key areas of your business that you can improve on. Accounting requirements for law firms are […]
Six months is a long time, but it comes and goes so quickly. Yesterday, it seemed like the year was just starting and firms were setting goals for the year. Now we’re here at the halfway mark, and it’s time for a six-month review. You should be looking back and forward to see what: Went […]
Cybersecurity threats are growing across the board, but bank fraud remains one of the most devastating threats for businesses and individuals alike. Banking and financial transactions have shifted to the digital sphere, and hackers have taken notice. Deceptive techniques like spoofing, in which cybercriminals trick individuals into divulging sensitive information, have been rising for years, […]
Millions of low-income Americans can’t resolve legal issues because they lack the resources to pursue them. Alternative fee arrangements for law firms allow you to better serve clients and the community by opening services to those who may not have the means to pay for services upfront. Law firms can add value to their clients […]
Finding the right bank for your small business can be a challenge. While interest rates are important, they shouldn’t be the deciding factor. This article dives into what truly matters: features, convenience, and how the bank can help your business thrive. We’ll also cover why switching banks might be a better option than you think. […]
Attorneys spend a lot of time practicing law. Your clients deserve your time, attention and experience helping them reach their goals. So, what’s the problem? While you’re focusing on offering the best service possible, it’s easy to: Push business management to the wayside Allow outstanding bills to pile up Spend excess time on client matters outside of […]
Start 2024 off with a bang by building rock-solid billing practices. Take a moment to reassess your habits from last year. You and your team are busy, and no one enjoys chasing after clients for payment of outstanding invoices. It’s time to develop and refine your collections strategy. You can make your bill collecting process […]
Lockup is a critical financial metric typically used among accountants. However, there has been a push to show how much it applies to law firms. Lawyers are skilled and educated professionals, but when they run their practice, they have the dual-sided challenge of running a business. Terms such as “lockup” can be instrumental in helping […]
The end of the year is a critical juncture for small and solo law firms, marking an essential period for reflection, analysis, and planning. During this period, law firms delve deep into their finances, assessing the year’s achievements (or shortfalls) and strategizing for the challenges and opportunities of the upcoming year. Essential End-of-Year Tasks […]
