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Your State Bar Trust Account Requirements—Simplified
Understanding the requirements for trust accounts can be a daunting task for many legal professionals. However, having a clear...
Jun 266 min read
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Cash vs. Accrual Accounting for Law Firms: Pros and Cons
Cash and accrual accounting are two primary methods used for tracking financial transactions in businesses, including law firms. Each...
Jun 246 min read
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Understanding Law Firm Revenue and Accounting
Running a law firm is about more than winning cases—it’s about building a financially sustainable business. For lawyers, understanding...
Jun 196 min read
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Managing Advanced Client Costs: Strategies for Law Firms
Advanced client costs are the costs a law firm incurs during a case on behalf of a client. The client later pays back the law firm or the...
May 285 min read
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Avoiding IOLTA Overdrafts: A Simple Guide for Lawyers
You know how heavy the weight of obligation is as a lawyer. You have to balance your clients' cases, court deadlines, and the moral...
May 236 min read
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Proven Strategies to Prevent Overdrafts in IOLTA Accounts
As a law business owner, your IOLTA account (Interest on Lawyers’ Trust Accounts) is more than just a bank account—it’s a cornerstone of...
May 225 min read
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Common trust account reconciliation errors to avoid
Taking care of trust accounts is a very important job for law firms. These accounts hold client money, and if you don't handle them...
May 205 min read
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Handling Discrepancies in Law Firm Reconciliation
As an attorney or administrator of a law company, you know that keeping the books in order is just as important as winning cases. Making...
May 166 min read
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Reconciling Client Invoices for Law Firms
Focus is needed to run a law firm on issues, clients, and how to win in court. But there is a job that needs to be done that can't be...
May 155 min read
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What Happens If You Overdraft an IOLTA Account?
Imagine that you are a lawyer who has a lot of cases, clients, and due dates to meet. You have an IOLTA account , which is a special kind...
May 137 min read
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Why having a correct chart of accounts and following IOLTA rules is a must
It takes accuracy, trust, and moral responsibility to run a law business. As a lawyer, your clients trust you to look out for their best...
May 106 min read
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Managing Retainers Effectively and Boost Collection Rate For Law Firm
TABLE OF CONTENT Optimizing Retainer Management Key Benefits of Effective Retainer Management Designing Dynamic Retainer Agreements...
Sep 14, 20245 min read
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