Tag: Legal Accounting

Stay up-to-date on all things legal technology, including practice management, payments, automation, and more.

law firm financial reporting
Reporting & Analytics

Streamlining Law Firm Financial Reporting for Easy Accounting

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,

Read More →
Accounting and bookkeeping at a law firm
Billing, Payments & Accounting

Streamlining Law Firm Accounting & Bookkeeping

Law firms have unique accounting requirements — like being bound to a code of ethics to account for any funds held in trust on behalf of clients. It’s important to keep these requirements in mind when selecting the proper legal accounting system to streamline your processes. As an example, law firms are

Read More →
Group of lawyers discussing compliance within their firm
Matter Management

Law Firm Compliance Made Easy With a Practice Management System

Law firm compliance can be a burden to adhere to. But, legal practice management software (LPMS) goes a long way in alleviating some of the burden. It relieves you of the constant monitoring for regulatory changes, keeping your systems updated and ensuring that your firm is always in sync with

Read More →
lawyer working on billing requirements for the firm
Billing, Payments & Accounting

Law Firm Billing Guidelines Made Simple

Implementing clear legal billing guidelines is crucial for effectively managing client relationships and avoiding unnecessary disputes. No doubt you’ve heard the old phrase, “Harmony is achieved when everyone is singing from the same song sheet.” The same is true of billing – when everyone knows the rules, there are fewer

Read More →
attorney deciding whether to use flat fee or hourly billing
Billing, Payments & Accounting

When to Use Flat Fee vs. Hourly Billing at Your Firm

The legal industry, in recent years, has witnessed a seismic shift towards the adoption of “flat fee billing”, an alternative to the traditional “hourly rate billing.” This trend has emerged in response to client demands for greater predictability and transparency in legal costs. T

Read More →
lawyer working from home
Billing, Payments & Accounting

Beating the Summer Lag: How to Keep Receivables & Cash Flowing

Most businesses keenly understand the ebb and flow of seasonal cycles. Service companies like air conditioning contractors, vacation travel firms, resorts and airlines see peak business during the hot summer months, while many retailers tend to see their busiest season right around the holidays and tax attorneys and accountants see

Read More →
looking at law firm metrics
Billing, Payments & Accounting

Law Firm Metrics: Planning for Growth Despite Headwinds

If you are reading the headlines and wondering how to generate growth at your law firm in the face of economic headwinds, don’t assume it will be impossible. The good news is it’s possible to expand a firm even in a down economy. However, enabling growth requires establishing goals, monitoring

Read More →
Stay Connected