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The Completed Guide To Better Law Firm Bookkeeping and Accounting Practices!

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

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

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

In legal accounting, all cases expenses are not treated the same. It is important to ensure that every item billed is tracked