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Administrative tasks like billing and invoicing can be tedious and time-consuming and you may be stuck if you don’t implement the proper...

While you’ve spent years honing your skills to become a great lawyer, you didn’t understand deeply about accounting or bookkeeping,...

Attorneys routinely receive and handle money that belongs to clients for future use such as security settlement payments, fees advanced...

A three-way trust reconciliation involves three components that must match. If the three numbers don't match, you have to investigate to kno

Many people often consider ‘income’ as a synonym of ‘revenue’ since both terms refer to positive cash flow. Understanding the difference...

Lawyers are not accountants and they often make the same common mistakes when it comes to accounting for law firms.

Business success and sustainability are dependent on revenue. This metric is also critical to law firm owners who want to grow their...

Separating client trust funds from law firm operating funds is a necessary practice. When it comes to running a small firm, this concept...

Managing a law firm is totally challenging to every single lawyer. When it comes to the financial aspects of a business, it doubles the...

A simple explanation about IOLTA, how it works, 3 most common mistakes and how to avoid them.

Sometimes it is easy to understand the terms or technical words in the field you work in, sometimes it is not. Even when you understand...

Every single lawyer knows Trust funds are very crucial to them. They are not only your clients’ most valuable assets but are also...

Managing trust accounts means you should understand three-way bank reconciliations. Regardless of whether your state calls it an "IOLTA...

Accounting in law firms requires specific skills and care because it is distinguished from accounting in general businesses. In this...

Lawyers and law firms have specific financial needs that are unique to their industry. When a lawyer decides to make the jump from being...

In terms of business management, there are lawyers thinking of ways to spend the money they have earned and there are ones struggling to...

Get to love your numbers If you are a lawyer doing solo, or you have your own law firm and it terrifies you with just a flash of thought...

Bookkeeping is essential for every law firm, even if it brings back unpleasant memories of "math classes" in school. You can make...

Keeping track of time It's unbelievable how much time you waste if you don't keep track of time. According to research compiled by Ann...

When your business needs to prove or record its account balance, this is called reconciliation accounting. In all the activities that drive