Blog Posts

Why Your Law Firm Should Accept Credit Cards

Why Your Law Firm Should Accept Credit Cards

At least 75% of Americans have a credit card and that number is rising. If your law firm is only accepting cash, check, or money order for payment, you could be leading potential clients to your competition. More and more law...

It’s Time to End That Toxic Relationship with Your Accountant

It’s Time to End That Toxic Relationship with Your Accountant

You've been with them forever, but they're consistently late, costing you money, forcing you to pay fines because they missed something crucial. The list can go on and on. You stay because it's familiar and you think finding someone new will take too long, or you...

What To Do If Your Law Firm’s Books Are a Mess

What To Do If Your Law Firm’s Books Are a Mess

You’re buried under a caseload that doesn’t seem to let up. Your paralegals are swamped. You’re due in court in the morning and have to meet with new clients in the afternoon. With a hectic work schedule controlling your firm, your financial records can suffer. If...

Your Guide to Understanding Business Accounting Terms

Your Guide to Understanding Business Accounting Terms

At your latest budget meeting, did you get lost in the maze of terminology? Or worse, did the alphabet fly at you in a flurry of acronyms? P&L, ROI, COGS, and GAAP. Luckily, a basic understanding of accounting doesn’t require mastery of a foreign language. Knowing...

End of the Year Accounting Tips for Law Firms

End of the Year Accounting Tips for Law Firms

2020 is fast approaching, and with it a clear vision for a profitable future. But before you can embrace the new decade, you have to close the books on 2019. If you’ve been diligent all year with keeping your accounting current, you have nothing to worry about. But so...

Top 5 Law Firm Bookkeeping Challenges and How to Overcome Them

Top 5 Law Firm Bookkeeping Challenges and How to Overcome Them

  Law firms have unique bookkeeping challenges. In addition to all the facets of a business like payroll, utilities, supplies, and expenses, they also have to comply with regulatory standards for managing client funds. Legal bookkeeping is a complex field that...

The Importance of the Attorney Trust Three Way Reconciliation Report

The Importance of the Attorney Trust Three Way Reconciliation Report

Most accounts are reconciled between two forms of documentation. The classic example is with a checking account. You keep a running account of the checks you write in your check ledger and when the bank statement is produced at the end of the month, you reconcile the...

Why Benchmarking is Critical for Small Business Success

Why Benchmarking is Critical for Small Business Success

If you want to be the best, you have to beat the best. That is true in life and in business. In any industry there is usually a clear leader of the pack. For a small business just starting out, adopting best practices of your top competitors can...