Maximize Your Law Firm’s Cash Flow Before Dec. 31

Maximize Your Law Firm's Cash Flow Before Dec. 31

As you probably already know, the survival of any law firm depends on a healthy and uninterrupted cash flow.   After all, if you can’t reliably cover your overhead, including salaries and vendor contracts, you can’t keep the lights on (or whatever the equivalent is if your firm offers remote or hybrid working).  You also can’t reinvest in your business. Your … Read More

Speed to Lead: What It Is and Why It’s the Key to Your 2024 Firm Growth

Speed to Lead What It Is and Why It’s the Key to Your 2024 Firm Growth

Are you looking for ways to keep your website clicks high and your phone ringing off the hook with potential leads in 2024? The secret might be simpler than you think. It’s all about speed to lead, or how quickly you respond to potential clients’ inquiries.  This critical sales metric can significantly impact the likelihood of converting prospects into clients, … Read More

How to Determine Your Effective Payment Processing Rate

How to Determine Your Effective Payment Processing Rate

When it comes to choosing a credit card processor, it pays to read the fine print.  Still, reading your statement isn’t always the most reliable option to know what your credit card processor is really charging. Many processors advertise a certain rate when you sign up, and then charge more than you expect in the form of hidden fees. Fortunately, … Read More

Make Year-End Closing a Breeze with These Q4 Accounting Tips

Make Year-End Closing a Breeze with These Q4 Accounting Tips

Depending on your firm’s accounting practices, the end of the year can either be a struggle or a breeze. If you don’t plan ahead, you can count on it being the former.   The key to a hassle-free year-end close for law firms lies in careful planning and proactive accounting practices. By laying the groundwork well in advance, your firm can … Read More

Four Signs Your Data Isn’t Ready to Migrate (And How to Get it Ready)

Four Signs Your Data Isn't Ready to Migrate (And How to Get it Ready)

Isn’t it nice to make a fresh start? The opportunity is fast approaching as we move into the fourth quarter of 2023 and contemplate how to wrap up the year and make some changes for the next one.   What’s on the list for some law firms? Adopting a new accounting software to kickstart 2024. The new year is an optimal … Read More

5 Purchases Law Firms Can Make to Maximize Their Tax Benefits

5 Purchases Law Firms Can Make to Maximize Their Tax Benefits

As we approach the end of the year, many legal professionals will be thinking about making some tax-deductible expenditures to give their firms a little extra shine and reduce their tax bill in the process.  While it’s a great idea to grab some new gear while improving your tax position, you don’t want to eat into your profits unnecessarily, so … Read More

5 Proven Ways to Maintain Accounting Compliance in Your Law Office

5 Proven Ways to Maintain Accounting Compliance in Your Law Office

In the high-stakes world of legal practice, accounting compliance is the backbone of your firm’s credibility and financial stability. While the intricacies of law captivate your intellectual curiosity, the numbers in your accounting books hold the key to your firm’s reputation and, ultimately, its success.   Navigating IRS regulations, ABA and state bar guidelines, and state data privacy laws can feel … Read More

The Rise of the Data-Driven Law Firm

In today’s fast-paced legal landscape, data is no longer just a buzzword; it’s a game-changer.   The rise of data-driven law firms is reshaping the industry, and for a good reason. Law firms harnessing the power of data are not only improving decision-making but also increasing profitability while delivering superior services to their clients.   Legal Talk Network Podcast recently sat down … Read More

Why Not All Payment Processors Are Created Equal

Why Not All Payment Processors Are Created Equal

In our increasingly tech-driven world, law firms have more options than ever for how to accept and process payments. And there are important differences between the various processors out there.   While many law firms use industry-agnostic payment processing options like Stripe, Square, or PayPal, there are drawbacks to using software that’s not tailored to the unique needs of the legal … Read More

A Primer on Deciding When to Change Your Law Firm’s Accounting Software

A Primer on Deciding When to Change Your Law Firm’s Accounting Software

Is your law firm’s accounting software causing headaches, frustration, and general annoyance among its users? If so, it may mean it’s time for a change.   As your law firm evolves, so do its needs, especially when it comes to accounting and practice management support.   But how do you know when it’s the right time to upgrade your law firm accounting … Read More