2017 Year-End Legal Accounting Checklist & Tips
Follow our step-by-step Year-End Accounting Checklist for Law Firms and your office will be ahead of the holiday hustle and bustle and get to enjoy some well-deserved time off like everyone else.
Productivity & Compensation Models Made Easy
If your firm is struggling to sort out its productivity or if even part of your compensation is based on collections, this webinar is for you.
Moving Your Practice to the Cloud: Best Practices for Migration
Whether your law firm is using an outdated practice management software, or your current solution is simply not meeting your needs, don’t let your fear of a “systems migration” slow down the progress and productivity of your practice.
How To Run A More Competitive Law Firm in 2018
Running a successful law practice is a competition, and not just for new clients. It’s a constant battle against limited time and wasted effort.
Legal Accounting Webinar Series
Session I: Trust Accounting
Covering trust accounting basics, common errors committed by attorneys, and ways to keep your trust accounts compliant in this in-depth presentation.
Legal Accounting Webinar Series
Session II: Credit Card Accounting
Here’s your chance to get updated on simple, legal-specific credit card accounting for firms of any size.
Legal Accounting Webinar Series
Session III: Legal Business Accounting
There’s nothing basic about keeping your back-office books clean & compliant. Here’s what you can do to simplify your firm’s accounting.
Trust Accounting: Stop Putting Your Firm at Risk
Secure your trust accounting practices to ensure that you are not accidentally putting your firm at risk.
10 Critical QBO Challenges for Law Firms
QuickBooks Online is a popular accounting tool, but be warned…it comes with a unique set of challenges for law firms.
The Modern Law Office: Why Less is More
Today’s lawyer needs to move fast. Let us show you how less can truly be more when it comes to managing your practice.
Can Your Law Firm Last Using Generic Tools?
Can choosing generic business tools to use in your law office meet the legal-specific regulations faced by every law firm? It depends. Learn more…
Stop Losing Money: Bill More Efficiently with CosmoLex
Your firm will instantly make more money — by not losing money! We’ll show you where you’re losing money, and how a modern time and billing system can help.
Law Firm Financial Security: Top 10 Tips
Running a law practice on a sound financial footing is not easy to maintain. Learn 10 proven tips you can use immediately to improve your financial habits.
Experience a Fully Integrated Solution for Your Practice
Partial solutions don’t last. Once, we all had a cell phone just for talking. Blackberries were for email. Palm Pilots for calendar. iPods for music. Smartphones made them all obsolete, and we haven’t looked back… So why are you still using multiple solutions to run your law practice? CosmoLex combines the tools you need in a single solution. Timekeeping, trust accounting, calendar, secure communications, billing, and more. Register to see CosmoLex, a fully integrated solution, in action.
Compliance Challenges of Legal-Specific Accounting
It takes a lot of effort to fit a square peg into a round hole, which is one reason why lawyers often struggle with legal accounting. Your general office accounting program (such as QuickBooksTM) simply doesn’t have the appropriate features to fit efficiently into your law firm. Stop trying to shave the corners off of your generic accounting program and find an accounting solution that fits your needs. Watch this webinar to learn a few tricks that will effectively end your legal accounting headaches.
Simplify Credit Card Processing at Your Practice
Join us as the teams at LawPay and CosmoLex come together and show off the benefits of CosmoPay. LawPay completes the card processing, CosmoLex handles the accounting. It’s all automatic — and 100% compliant. And the best part? CosmoLex covers the monthly $20 LawPay fee for qualified customers. This is a win/win for you and your clients!
Tackling Client Costs: QuickBooks v. CosmoLex
Attorneys know that each day is filled with dozens of small tasks and expenses that often don’t get tracked and eventually fall through the cracks unbilled. And when you track and bill, accounting for disbursements and its recovery is a whole new challenge. In this presentation, Law Firm Accounting Demystified co-author, Pamela Rozsa, will walk us through client cost accounting in QuickBooks, a popular program, and compare pros & cons with a legal-specific solution such as CosmoLex.
Navigating Your Accounts Payable: Bills & Beyond
Sometimes it seems like there’s a regulation governing every dollar you bring into the practice. And that goes double for money that needs to go the other way — just think about your vendor bills, 3rd party lien claims, and the rest. It’s not enough to have money in the bank to cover your checks. You need an adequate accounts payable solution to track where the money is going, when, and what matter it’s related to. And that’s just for starters! When you’re acting as the fiduciary for your clients, these are not your debts, but you are held responsible. If something goes wrong, it’s your firm that’s in trouble. What do you need to know to stay safe? View this webinar to find out.
Get A 360-Degree View of Your Practice with CosmoLex
There are many points of view in a law office. From accounting to scheduling, billing to communications, it’s easy to lose focus and lose sight of your targets. CosmoLex gives you a 360° view of your practice. By combining practice management, billing, and accounting in one program, you get a much needed, big picture dashboard of your practice…What’s working and what’s not. What needs attention. Where your time is well-spent. And where the best paths for growth opportunities lie. If you’ve never seen your practice like this — from all angles — you owe it to yourself to check out this free webinar.
Find Your Practice Zen: Time and Stress Management For the Small-Firm Lawyer
Special Presenter: Heidi Alexander, Esq., Director of MassLOMAP As a small-firm attorney, you juggle everything – from administration to marketing to business development, not to mention actually practicing law. How can you manage your time and stress so you can get everything done, stop operating in “crisis mode,” and go home on time? If your firm is struggling with productivity or even part of your compensation is based on collections, this webinar is for you. You’ll learn how to build compensation models that are compliant & accurate — and how technology can streamline the entire process! Law firms already wait too long enough for collections to finalize. Don’t let a complicated compensation model delay your payments any longer!
Law Firms Need A Daily Bank Reconcilaiton. Really.
A lot can happen in 30 days. And law firms that only perform a monthly bank reconciliation find this out the hard way. A check clearing early, or even a bounced check chargeback, can easily overdraw a trust account. A disaster if it goes unnoticed until the end of the month. These examples are just the tip of the iceberg. When it comes to accounting, we live in a real-time world. Tools for lawyers — things like “bank feeds” — are already in place. All you need to do is learn how to use them correctly. That’s why you’ll want to view this special webinar…
Automatic Time Tracking to Increase Billable Hours
As an attorney, you know that time tracking can be incredibly important as well as tedious and often inaccurate. Which is why Chrometa has built an app to track time on everything you do — automatically, passively, and accurately — in the background. But tracking your time accurately is only one part of the equation. You also need a system like CosmoLex to convert time into billing and measure your productivity. CosmoLex helps attorneys manage their practice, billing, AND accounting, all in one login (No QuickBooks required). Which is why Chrometa and CosmoLex are now partners. In this 30-minute webinar we will show you the integration flow and benefits along with a live demonstration. You won’t want to miss this!
Office 365 Productivity Gains for Small Law Firms
Lawyers everywhere are beginning to realize that Microsoft Office 365 makes a major productivity difference that can build a better bottom line the entire practice. While the big news about Office 365 is that it is firmly rooted in the Cloud, there’s a lot more to it. Join our “Office 365 Productivity Gains for Small Law Firms” webinar and learn 8 ways that Office 365 will make a real impact on your day-to-day workflows. You will also learn how you can further turbocharge Office 365 productivity by leveraging its ability to integrate with law practice management systems. Full utilization of Office 365 is one of the keys you need to keep your practice competitive as the pace of law accelerates. Join this webinar and see it in action…
Playing By The Rules: Choosing Billing, Time & Practice Management Software
Special presentation by industry expert Dana Riel With so many “rules” out there for lawyers, it’s easy to trip over one now and then. A good way to find your footing is to start with the American Bar Association (ABA) Model Rules of Professional Conduct — in areas like conflict of interest, attorney/client confidentiality, acceptable billing, trust accounting, and more. One big function of practice management software is to keep lawyers out of trouble. One way they help, among many others, is to have automatic safeguards in place that prevent you from making all kinds of unintended mistakes. At a special webinar this week, our guest host Dana Riel will go over the ABA Model Rules that you should be aware of and how your practice management system should be keeping them in check at your legal practice (or will be after the webinar!). View this webinar, and learn how you can always play by all the rules (even if you occasionally forget one).
Avoiding Common Legal Billing Pitfalls
How is it possible, that for so many small law firms, the basic task of billing clients feels like a trying to wade through a patch of quicksand? Part of the problem has to do with the intricacies and compliance requirements that go into legal billing. But that doesn’t begin to cover the challenges. You need a billing setup that controls leakage, creates good cash flow, and maintains good client relationships. To avoid getting bogged down, you need the right approach and the right tools — shoe boxes of sticky notes will only make you sink deeper. Make sure your billing practices are up to the needs of a successful law practice. Join us for an interactive session on Avoiding Common Billing Pitfalls.
Cyber Security Practices for Small Law Firms
Protection of client data, whether it’s kept in local systems or cloud systems, is a continuous challenge. Hackers are in the news constantly, and they are not just going after big organizations. At least 30% of all victims are small firms — no target is too small. There are things you can do — steps you need to take — but you can’t do them on your own. Achieving solid data security involves more than just keeping your antivirus program up-to-date. It involves using best practices and deploying modern methods like encryption, validated backups, two-factor authentication, client communication portals, and more. In this webinar, we’ll show you various methods law firms can deploy today to greatly mitigate the cyber data risks.
Top Productivity Challenges for Small Firms
Fee-based client work is putting a lot of pressure on small law practices. It’s forcing every everyone to ‘get it done faster’ by finding better ways of working. It turns out that a few small changes in how you approach your projects can reward you many times over. We call these leverage points productivity multipliers. And as powerful as they are — most firms are not even aware they exist. You can learn about these productivity multipliers at a special 30-minute webinar. This is one webinar that is well worth your time. Because once you apply productivity multiplier in your practice, you’ll never worry about taking on fee-based projects again.
Top 10 QuickBooks Challenges for Lawyers
Special presentation by Caren Schwartz, author of ‘QuickBooks for Lawyers’ QuickBooks, the most popular accounting program, is used by many small law firms and solo attorneys. However, legal accounting is not simple and this is a case where the “most popular” pick may not be the best fit in all situations. QuickBooks was not built for — and never intended to be — a thorough solution for legal-specific accounting. And, as you know, your law firm must adhere to a host of specialized accounting requirements (with stiff penalties) that are unique to the legal profession. Some of these requirements create challenges in QuickBooks — challenges you should know about. If you are using QuickBooks, you’ll want to watch this free Webinar.
Challenges of Credit Card Acceptance At Law Firms
Presented in Partnership with LawPay. As part of a push to speed up bill paying and trust retainer replenishment, many law firms are tempted to accept, and even promote, payment by credit cards. What could go wrong with faster cash flow? A lot. Credit card payments and trust retainers present real challenges for law office accounting. These include how the revenue is recognized, what account it lands in, when it is “earned”, and more. A simple merchant account will not comply with the special rules law firms must live by. In light of the accounting complications, many law firms still do not accept credit cards. But that’s a self-defeating (& non-competitive!) option. You are much better served by learning how to setup your merchant accounts correctly. In this webinar, we covered: How accepting credit card payments at your firm differs from accepting cash or checks. Challenges that can be caused by your merchant services provider. How you can avoid issues caused by an improper internal setup.
Legal Accounting Shoot-Out: QuickBooks v. CosmoLex
Lawyers know that traversing legal accounting can be like heading into the Wild, Wild West. It has its own set of rules and high-stakes penalties. That’s why legal-specific accounting requires a special set of tools. These two went head-to-head during our Legal Billing Shoot-Out, now it’s time to see how they handle the rough terrain of legal-specific accounting. View Round 2 between these two top contenders — they couldn’t be more different: QuickBooks — the all-around “shotgun” package, often customized for legal work CosmoLex — a new “sharpshooter”, built from the ground-up for law firm accounting only, it didn’t take long. A 30-minute webinar. Eight tough questions. Each side took their best shot. Caren Schwartz (Author of QuickBooks for Law Firms) and Erica Birstler (CosmoLex Client Services) represented the two solutions. When the dust settles, it will be up to you to decide which one is best for your law practice.
Legal Billing Shoot-Out: QuickBooks v. CosmoLex
Slow cash flow can ambush any law practice. Matters get stuck in quicksand, while expenses never cease. And even the best clients often dodge their legal bills. That’s why your invoices need to be fired out as quickly as possible, and always on target. Join us for the first-ever shoot-out between two top contenders, and they couldn’t be more different: QuickBooks — the all-around “shotgun” package, often customized for legal work CosmoLex — a new “sharpshooter”, built from the ground-up for law firms only It didn’t take long. A 45-minute webinar. 8 tough questions. Each side took their best shot. Caren Schwartz (Author of QuickBooks for Law Firms) and Erica Birstler (CosmoLex Client Services) represented each of the two solutions. You’ll learn a lot about the specific issues of legal billing — what works and what doesn’t — solid information that you can apply to whatever solution you are currently using.
Law Firm Survival Skills: Business Accounting Basics
As a lawyer, you know this – sometimes a “simple thing” is not so simple. That’s indeed the case with law firm bookkeeping, where just the act of keeping your general ledger and journal entries accurate is no easy matter. That’s because law firms often use a general accounting program or a general practice CPA — and the complications and nuances of legal business bookkeeping go far beyond what general accounting solutions or general practice accountants can handle. On the plus side, proper attention to your legal business accounting can help you leverage your cash flow, uncover new revenue streams, and focus your energy on areas of your practice that are the most profitable. On the downside, keeping incorrect books leads to compliance or ethics violations that can sink even the best law practice. The stakes are high, so high that every lawyer needs to understand how to maintain precise, compliant accounting books. Please do justice to your firm, and take a few minutes to attend this special Webinar – Law Firm Survival Skills: Business Accounting Basics
Top 8 Pitfalls of Law Firm Management
If your airport limo driver showed up with a motorcycle, you’d call another car service. And yet, lawyers often try to “make do” with generic tools for work-flow and accounting -ignoring the specialized requirements for legal work. The result — too many law firms are plagued with poor cash flow, mishandled client funds, spotty paper trails, and more. Using the wrong tool is always a recipe for disaster. We’ll show you the top 8 traps law firms fall into when they rely on generic tools to manage their back office – and what you can do to avoid them.
Phishing: A Big Challenge for Law Firms
It’s a big challenge for any company, but an especially big challenge for law firms as the quantity and value of the data they possess makes them an attractive target. It’s estimated that 90 percent of recent attacks on law firms have included some level of phishing. Phishing works one of two ways, by getting an email recipient to visit a poisoned website, or to open a poisoned attachment.
How To Survive The Legal Audit Minefield
Do you worry about how well your firm would stand up to a legal audit? It’s a valid concern. That’s because so much of the practice of law involves strict compliance with numerous regulations. And these complicated legal regulations are often intertwined with peculiar accounting requirements — that are at times unknown to a general practice CPA.
Seven Cornerstones of Cash Flow Management
Cash flow at law practices can be notoriously slow. You already know that. However, you may not know that you can improve your cash flow – significantly – without running to your accountant or hiring a collection agency.
Escrow Account Controls in New CFPB Regulatory Environment
By now, we all understands how CFPB is transforming the real estate settlement industry. A significant compliance hurdle for settlement service provider is ensuring they have adequate escrow account controls.