Law firms are often late to the party when it comes to technology. Accepting credit card payments is another example of this. Too many law firms still do not accept...
Avoid having to enter the same information into a separate law practice management software and an accounting software. The resulting errors would be costly and can lead to severe consequences. This...
Legal time management is a difficult task at any law firm. For firms who are busy, both its importance and difficulty increase. Time is money, so it is important that...
Immigration attorneys see more IOLTA transactions than attorneys in other practice areas. This requires them to align data between multiple systems on a regular basis. This process can become time-consuming...
General accountants aren’t familiar with all of the unique challenges and regulations a law firm faces. Lawyers shouldn’t have to master accounting on top of their own specialty. General business...
Attorneys who manage their own practice or firm know the importance of billing their clients. If you don’t bill your clients, you don’t get paid, you can’t pay your bills,...
A ledger shows the amount of client funds a particular matter has. Understand that disbursements or invoice payments shouldn’t affect any balance other than the related matter in terms of...
Depending on your jurisdiction you are likely required to perform a 3-way reconciliation every 30 or 60 days. While it is important to meet these requirements, you should actually be...
So you’ve moved passed the shoebox of records containing the financial inflows and outflows that begrudgingly has to get organized by accountants or office staff. And you’ve decided the time-consuming...
The 3-Way Reconciliation Process can be a challenging endeavor for law firms. While it’s required to do this every 30-60 days, it is extremely beneficial to complete the process much...
