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How to Navigate the Complexities of Creating a Productivity-Based Compensation Model for Your Law Firm

legal compensation model calculator

Unsurprisingly, the issue of compensation is a major focus area for management when running a law firm (or any business for that matter). This point often becomes particularly complicated for lawyers due to the unique complexities associated with the billing practices in most law firms. Because of this, establishing a sound measurement of productivity in […]

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Tip #176: Proper Invoice Payment Allocation Is Important

Tip-#176-Proper Invoice Payment Allocation Is Important-Nov-21-2017

Many law firms will try to customize general accounting software to meet their needs. Unfortunately even the most customizable general accounting software will not support correct, automatic allocation of invoice payments. Partially paid invoices can become even more complicated. Find legal accounting software that will automate the payment allocation process to ensure that all liabilities […]

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A 6-Step Guide to Better Legal Bookkeeping

6 Steps For Better Legal Bookkeeping

As we prepare to say goodbye to 2017, it’s important to take some time to reflect on the months gone by. Around this time, we often think about making improvements to our personal lives: join the gym; read more; learn a new language. And while this is all well and good, the health of your […]

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Tech Tip #170: How To Manage the 3 Major Components of Legal Accounting

Manage Law Firm Business Accounting

There are 3 major components of legal business accounting: Client Funds Accounting, Matter Cost Accounting, & Back Office Accounting. All three need to be integrated and work alongside each other. To do this effectively, find an accounting solution that takes the specific needs of a law firm into account, eliminates double data entry, has the […]

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