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Every single lawyer knows Trust funds are very crucial to them. They are not only your clients’ most valuable assets but are also...

Managing trust accounts means you should understand three-way bank reconciliations. Regardless of whether your state calls it an "IOLTA...

Accounting in law firms requires specific skills and care because it is distinguished from accounting in general businesses. In this...

Accounting is often considered the language of business. In order to paint a complete picture of a business's past, present, and future...

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

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...

According to the IRS, it is a must that all businesses keep basic financial records in order to track gross receipts, purchases,...

There is some steps business owner can take to minimize the risk of getting your tax returns flagged by the IRS for manual processing — a...

For every small business owner, cutting down costs to optimize profit is a complicated decision. Because cutting costs sometimes might...

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...

Why Would You Need to Do a Bank Reconciliation Monthly? Bank Reconciliation