Tech Tip #170: How To Manage the 3 Major Components of Legal 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 appropriate safeguards in place to protect against ethics violations, and even allocates revenue appropriately. Learn more about improving your law firm’s accounting practices by following these Business Accounting Tips to Prepare Your Firm for 2018.