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While you’ve spent years honing your skills to become a great lawyer, you didn’t understand deeply about law firm bookkeeping or...

Attorneys routinely receive and handle money that belongs to clients for future use such as security settlement payments, fees advanced...

A three-way trust reconciliation involves three components that must match. If the three numbers don't match, you have to investigate to kno

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

If you’re running a construction company, regardless of whether it is a general contractor subcontractor or something in between, you...

Lawyers are not accountants and they often make the same common mistakes when it comes to accounting for law firms.

Debtor and Creditor are common terms when it comes to bookkeeping. Although these two terms might seem straightforward, it's important to...

Overbilling in construction occurs when a contractor bills for contracted labor and materials before that work is actually completed

Sales tax is a tax paid to a governing body (state or local) on the sale of certain goods or services. The sales tax is generally...

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

Separating client trust funds from law firm operating funds is a necessary practice. When it comes to running a small firm, this concept...

Construction companies do not only build structures, they head for building profits also, of course. Although most of them know how to...