Tech Tip #72 – General Accounting Software Doesn’t Have The Appropriate Chart Of Accounts


Many law firms will try to use general accounting software. The firms that do this will inevitably come up short in finding an accounting system that truly satisfies their needs. One reason, in particular, is that general accounting software does not include the legal specific accounts needed to appropriately manage a law firm’s accounting. Make […]

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What You Need To Know About Trust Accounting


If you are a lawyer, manage a law firm, or handle an attorney’s accounting it is imperative that you know how to manage trust accounts. If you don’t know how to manage trust accounts and you are working inside of legal accounting- read this post and familiarize yourself with these important components of trust accounting. […]

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Tech Tip #70 – Realizing Income For Your Firm


When your firm wants to realize income it is important that any invoice payments that are made go through the appropriate hierarchy before you consider any of that money yours. Any payments made to your firm must first be applied to liabilities, hard costs, soft costs, and any finance charges or late fees. Legal Accounting can […]

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Retainer Management & Your Law Firm


For a law firm, retainers can be the lifeblood needed to stay afloat. It allows firms to maintain a positive cash flow and ensures that client invoices are paid in a timely manner. While retainers can be extremely beneficial for firms, if they aren’t properly managed they can bring a great deal of trouble to […]

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