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The ethical management of client funds is a pivotal responsibility that falls on the shoulders of lawyers. Two key instruments that lawyers use to manage these funds are client trust accounts and Interest on Lawyers Trust Accounts (IOLTAs).
For all law firms, the flexibility of offering online payments comes with a cost; credit card processing fees. However, there are several strategies that you can employ to offset these costs — one of which is surcharging.
While Excel is great at data organization and basic calculations, software reporting and analytics tools designed specifically for law firms make it far easier to analyze each case’s profitability while tracking expenses and identifying areas where you can cut costs or improve efficiency.
Legal invoice management is vital for mid-sized law firms to ensure efficient billing, cost control and compliance. By utilizing legal billing software to manage legal invoices, mid-sized law firms can increase client satisfaction, save time and resources, improve data analysis, and simplify dispute resolution.
Most law firms rely on partners and associates accurately tracking billable hours to get paid for their services. However, many attorneys still use antiquated methods like paper timesheets or spreadsheet trackers to capture their time. This leads to missing billable hours, billing delays and lost revenue. By investing in attorney
Litigation management software is a comprehensive solution for managing all aspects of a litigation firm. Whether you’re a civil practice or a criminal defense firm, litigation management tools can streamline and organize discovery management, trial preparation, case strategy development, communication, and more.
Deadlines, client meetings, court appearances, and the constant need for research and preparation can make it feel like there are never enough hours in the day. With caseloads increasing and client demands escalating, these attorney time management tips can be the difference between success and stress.
Transitioning from manual matter management to a legal practice management system is pivotal for law firms seeking to address inefficiencies and implement more productive processes.
You know that feeling when you’re working on a jigsaw puzzle and can’t find the one piece you actually need? That’s how law firm financial reporting can feel at times. Between handling intricacies like client trust accounting, making sense of diverse compensation models, and breaking down the profitability of cases,
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