5 Considerations for Law Firm Accounting
While you’ve spent years honing your skills to become a great lawyer, you didn’t understand deeply about law firm bookkeeping or...
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Sep 22, 20215 min read
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 7, 20215 min read
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...
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Aug 25, 20216 min read
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, 20218 min read
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...
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Jul 27, 20213 min read
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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Jun 16, 20212 min read
Why Would You Need to Do a Bank Reconciliation Monthly?
Why Would You Need to Do a Bank Reconciliation Monthly? Bank Reconciliation
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Feb 3, 20213 min read
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, 20203 min read
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...
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Dec 7, 20202 min read
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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Sep 5, 20163 min read
5 Reasons to Reconcile Accounts Monthly
At some point along the lines, you're going to make a mistake. Some mistakes will be larger than others, but for the most part, what's...
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