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7 Reasons To Run a QuickBooks-Free Law Firm

Reasons to Run a QuickBooks-Free Law Firm

Often the go-to software for general accounting, QuickBooks offers tools that fulfill the needs of many small and medium-sized businesses. However, due to the compliance requirements unique the legal industry, it is important to recognize the program’s limitations – particularly when it comes to billing, trust accounting, and proper allocation – and consider utilizing a […]

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Tech Tip #182: 3 Areas That Must Be Evaluated When Measuring Your Law Firm’s Productivity

Measuring Your Law Firms Productivity

Measuring productivity is crucial to any successful business. For law firms, the way in which productivity is measured is slightly different from that of other industries. When measuring your firm’s productivity, it is imperative that you consider; who the originating attorney is, who is the person responsible for overall efficiency, and all contributions to billable […]

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Tech Tip #181: Utilization vs Realization Rate: Building Productivity-Based Compensation Models

Productivity-based Compensation models

When building an incentive compensation model for your firm it’s important to remain consistent, transparent and objective. For that reason, we recommend basing compensation on realization rate vs utilization rate. Doing this ensures that all members of your firm are compensated based on what is collected. This will remove any controversy associated with any adjustments […]

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7 Common Habits of Successful Law Firms

Good Habits of Successful Law Firms

For so many lawyers, having their own law firm is a dream. Many lawyers reach that point only to learn how much more challenging it can be to run a successful law firm — and let’s be honest, nobody sets out to own and manage an unsuccessful firm. Here at CosmoLex, we work many different […]

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