What are IOLTA accounts? Common Mistakes To Avoid
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Attorneys routinely receive and handle money that belongs to clients for future use such as security settlement payments, fees advanced...
- Sep 28, 2021
- 6 min
Three Common Mistakes that Lawyer Make With IOLTA
A simple explanation about IOLTA, how it works, 3 most common mistakes and how to avoid them.
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- Sep 22, 2021
- 5 min
The Beginner’s Guide to Trust Accounting
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...
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- Sep 21, 2021
- 5 min
4 Key Practices For Effective Trust Account Management
Every single lawyer knows Trust funds are very crucial to them. They are not only your clients’ most valuable assets but are also...
167
- Sep 14, 2021
- 5 min
7 Accounting Tips to Keep Law Firms Accounting Numbers In Order
Accounting in law firms requires specific skills and care because it is distinguished from accounting in general businesses. In this...
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- Sep 7, 2021
- 5 min
How To Set Up The Chart Of Accounts For Law Firm Clients
Lawyers and law firms have specific financial needs that are unique to their industry. When a lawyer decides to make the jump from being...
3,186
- 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...
188
- 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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- 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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- 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...
22,287
- 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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