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Business success and sustainability are dependent on revenue. This metric is also critical to accounting and law firm bookkeeping, law...

Managing a law firm is totally challenging for 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...

Accounting in law firms requires specific skills and care because it is distinguished from accounting in general businesses. In this limited article, we try to summarize some most common accounting tips for law firms that would help to keep your accounting numbers in order and increase profitability lawyers. Some of these tips may be familiar to you but they should not be neglected for they will help you to better manage your business in the long run, particularly when you lo

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

TABLE OF CONTENT Get to love your numbers Financial statements - Make it easy Balance Sheet (B/S) Profit & Loss Statement (P&L) Get to love your numbers If you are a lawyer doing solo, or you have your law firm and it terrifies you with just a flash of thought about financial statements, named it financial fear, then you come to the right place. “I’m confused. Those numbers make no sense to me”. You might have heard of this before from your fellow attorneys. That’s fine. When

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

There is no doubt that technological advances can support the business to improve and gain competitive advantages in the market and law...

The Profit & Loss statement or P&L is an account compiled to show a business’s revenue, expenses, and net income over a given period of...

The ability to effectively manage your account receivables (AR) is a prerequisite for running a successful business. It is unfortunate...