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
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
Wouldn’t It Be Nice to Have One Source of Truth for All Your Leads in 2024?
In the hyper-competitive world of law firms, getting a handle on your leads is the first step in acquiring new clients, achieving growth, and edging out the competition. The process of lead management, from initial contact to client intake, requires accuracy, organization, and collaboration. And in the digital age, law firms have access to modern tools that streamline lead management … Read More
9 Tips for Planning Your Law Firm’s Year-End Accounting
The busy day-to-day work of a law firm can make tasks without a specific due date, such as year-end accounting, feel like something that can wait until the last minute. While putting off closing the books might seem like a reasonable time management strategy for a lawyer with a lot of pressing client work to complete, it can ultimately lead … Read More
8 Reasons Why Law Firms Fail at Trust Account Compliance
Proper trust accounting is critical to running a successful and ethical law firm. However, staying compliant can feel like a constant battle—and one with many obstacles to fight through. There’s a good reason for this. Trust accounting is a complex process that can feel difficult for even the most seasoned legal professionals. And the stakes for compliance are high. Attorneys … Read More
Why SEO Is Essential for Your Law Firm Website
These days, your law firm’s website has to be more than just a digital business card. It must be a beacon, guiding potential clients through the fog of countless search results. But how do you ensure that this beacon shines brightly enough to be seen by those in need of your legal expertise? The answer lies in the art and … Read More
7 Things to Consider When Switching Your Accounting Software
Switching software platforms. Just the idea of changing the accounting software you use at your law firm is enough to make you break out in a sweat. Let’s call it the “software sweats.” You know the usual reasons for that prickly feeling: the legal industry is historically resistant to technological change, colleagues claim that they don’t have time to spend … Read More
The Do’s and Don’ts of Trust Account Management
In the world of legal services, trust accounting is a complex and frequently misunderstood practice that can be tricky to navigate successfully. Fail to adhere to the rules and requirements, and you could damage client relationships, incur fines and penalties, or even face disbarment. On the other hand, cumbersome processes can also create inefficient, productivity-draining workflows. The struggle can be … Read More
Five Reasons Why a Financial Forecast is Critical to Your Law Firm’s Success
In the dynamic world of legal practice, most principals, owners, and managing partners know that financial forecasting is an indispensable tool for law firms aiming to achieve stability and long-term success. By leveraging historical data and market trends, financial forecasts empower law firms to make informed decisions, set realistic goals, and ensure efficient financial management. Let’s explore the benefits of … Read More
8 Common Trust Accounting Mistakes Made by Lawyers and How to Avoid Them
Trust accounting is one of the most onerous law firm tasks. Errors, even unintentional ones, can be damaging to attorneys and firms. No one wants that. So let’s dive right into the top mistakes lawyers can make with trust accounting, tips for avoiding those mistakes, and best practices to ensure your firm protects its reputation and doesn’t become a cautionary … Read More