Searched: "client expenses"
Showing 52 Results:
In today's legal landscape, I still encounter companies that are hesitant to offer their law firm clients the option to pay by credit card. Yet, providing this payment method can significantly improve a law firm's cash flow and speed up the collection of accounts receivable. It's a win-win for bo...
In the dynamic world of law firms, there's a powerful transformation happening that you won't want to miss out on – the seamless integration of legal tech, specifically Clio and QuickBooks, into your software stack. This isn't just about convenience; it's a game-changer that can revolutionize you...
As a legal firm, effectively managing overhead expenses is crucial for maintaining profitability. Identifying and addressing the primary contributors to high overhead costs, such as office rent, staff turnover, and administrative expenditures, is essential. By strategically analyzing these areas,...
There are several tasks I like to accomplish for my clients at the end of the year, aiming to organize their files. December is the month that usually entails a period of tidying up. I aim to ensure that my existing clients' files are as prepared as possible. Considering we are entering Q4, atte...
Staying financially compliant is essential to maintaining a successful practice as an attorney. One aspect of financial compliance often overlooked is mastering estimated tax payments. Understanding how to navigate this process can save you from costly penalties and ensure you meet your obligatio...
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, it's easy to overlook the significance of establishing complete financial records from the beginnin...
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 use to ensure that your firm has enough cash? Here are some processes we use and some best practices f...
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 financial statements that you should ask your bookkeeper to provide so you can review include: Profit and...
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 might be sitting here going. Why didn't I plan better? How can we make 2023 a more profitable year for you...
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. This distinction is essential because if you start commingling the two, it will become difficult to tra...
