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Invoice Payment Allocation

Tip #176: Proper Invoice Payment Allocation Is Important

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 and costs are paid before any income is realized. For more legal accounting tips, read our 6 Step Guide to Better Legal Bookkeeping.

CosmoLex Team