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Tech Tip #204: Your Firm Needs A Complete Picture of Matter Balances

tech_tip_clear_picture_matter_balances

When putting together a complete picture of your firm’s matter balances it should include account A/R, WIP, and your trust balances. Open invoices with trust retainers must first be cleared by drawing funds from trust (if any) into general and AR balances. Employing an automated legal accounting solution can help firms manage their matter balances […]

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Why Integrated Accounting Is Essential for Law Firms

Integrated Legal Accounting

Solo and small law firms are small businesses. Because of that, law office managers often think that they can survive by using the same solutions as other small businesses to manage their practice. This common misunderstanding can lead to headaches, disorganization, and even ethics violations for law firms. More so than in any other area, […]

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Tech Tip #193: General Accounting & Legal Accounting Aren’t the Same Thing

Tech Tip Legal Accounting

Legal accounting is far more complicated than accounting for any other small business. That’s why a law firm can’t rely on the same accounting solution as any other small business. General business accounting software doesn’t account for things like; client funds accounting, matter cost accounting, 3rd party billing, fee allocation, and revenue distribution. Your firm […]

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Five Legal Accounting Resolutions for the New Year

5 resolutions - Legal Accounting in 2018

What did you resolve to do in the New Year? From saving money to losing weight, many of us vow to make improvements to our personal lives, and it’s important to consider how we might better ourselves professionally as well. Especially if you run a law firm, it is critical to not only take a […]

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