Navigating Success: Key Insights from the Clio Trend Report for Mid-Sized Law Firms

In the rapidly evolving world of law firms, staying ahead of the curve is crucial to achieving success. Mid-sized law firms, in particular, face unique challenges in navigating the ever-changing...

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Professional Accounts Receivable Workflows for Attorneys | AR Aging Reports

Open Accounts Receivable is a major issue with many law firms. When I specialized in my accounting firm to work exclusively with attorneys, one surprising discovery was the significant amount...

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The Importance of Financial Organization from Day One: A Blueprint for Legal Success

In the fast-paced world of legal practice, attorneys often juggle numerous responsibilities, from managing client cases to staying up to date with changing laws and regulations. Amid these demands,...

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10 Steps for Managing Cash Flow in a Law Firm

As an attorney, you know that managing cash flow is critical to running your law firm. After all, if the money isn't coming in, you won't be able to pay the bills. But what strategies should you...

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Best Financial Statements for an Attorney to Review

As an attorney, you should review your law firm's financial statements to get a sense of the firm's financial health and identify any potential issues that may need to be addressed. Some key...

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10 Tips for a More Profitable 2023 for your Law Firm

 OK, you filed your taxes, or you've at least submitted your records to the tax professional for processing. It feels like a relief unless you didn't pay enough estimated taxes, and then you...

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What's the Difference Between a Law Firm's Bank Account and The Lawyer’s Wallet?

A law firm is a business; as such, it's important to remember that it needs to be run like a business - which means ensuring your personal finances are kept separate from the business finances....

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Top 5 Bookkeeping Mistakes that Law Firms Should Avoid

We are in a full-on rush to get the books updated for our tax professionals. Are you looking at your books and seeing something "off"? There is a lot that goes into running a law firm. The most...

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Why Mid-Sized Law Firms Should Outsource their Legal Accounting

This is a question a potential law firm client asks me with a file requiring cleanup.  So what is legal accounting as opposed to regular accounting?  Legal accounting is keeping...

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