How To Set Up The Chart Of Accounts For Law Firm Clients
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Lawyers and law firms have specific financial needs that are unique to their industry. When a lawyer decides to make the jump from being...
- Aug 25, 2021
- 4 min
Why Law Firm Accountants And Bookkeepers Are Beneficial To Lawyers?
In terms of business management, there are lawyers thinking of ways to spend the money they have earned and there are ones struggling to...
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- Aug 25, 2021
- 6 min
Financial Fundamentals in Accounting for Law Firms
TABLE OF CONTENT Get to love your numbers Financial statements - Make it easy Balance Sheet (B/S) Profit & Loss Statement (P&L) Get to...
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- Aug 23, 2021
- 8 min
A Foolproof Guide to 8 Common Law Firm Bookkeeping Mistakes
Bookkeeping is essential for every law firm, even if it brings back unpleasant memories of "math classes" in school. You can make...
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- Jul 27, 2021
- 3 min
How Is Legal Accounting Software Useful In Law Firms?
There is no doubt that technological advances can support the business to improve and gain competitive advantages in the market and law...
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- May 9, 2021
- 4 min
Top 6 Reasons Lawyers Lose Financial Control
This article highlights critical accounting challenges that lead lawyers to lose financial control in law practices, emphasizing the...
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- Mar 19, 2021
- 3 min
What Does Reconciling Account Mean in Accounting?
When your business needs to prove or record its account balance, this is called reconciliation accounting. In all the activities that drive
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- Feb 3, 2021
- 3 min
4 Common Accounting Pitfalls Law Firms Must Avoid (2023 Updated)
- There is no Money In and Out of the fund (no flow of transactions)
- Overdraft client ledgers at the transaction level.
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- Jan 5, 2021
- 2 min
Law Firm Accounting: 4 Common Legal Accounting Mistakes
In legal accounting, all cases expenses are not treated the same. It is important to ensure that every item billed is tracked
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- Dec 15, 2020
- 3 min
What Is An IOLTA Account? The difference between IOLTA and Attorney Trust.
All of these account types (IOLTA, IOLA, and Attorney Trust) have the same purpose. They are all used to separate the client’s money from...
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- Dec 7, 2020
- 2 min
Trust Account Reconciliation: What Is Three Way Reconciliation?
For trust account management, this reconciliation process is one of the most important aspects of maintaining compliance and administration.
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- Nov 30, 2020
- 2 min
What You Need To Know About Trust Accounting For Attorney
Trust Accounting is simply bookkeeping of bank trust account under state requirements which involves
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