Financial

Embracing Change: How Resistance Can Harm Law Firms

Leave a Comment / Data Migration, Financial, Leadership, Software and Tech, Strategic Planning /

Law firms are known for their tradition and adherence to established practices, which can often make it difficult for them to embrace change. However, in today’s fast-paced and constantly evolving business landscape, resistance to change can have serious consequences for law firms. In this article, we will explore how resistance to change can harm law firms and what can be done to overcome it.

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Keeping it Separate: The Importance of Not Commingling Personal and Business Expenses for Attorneys

Leave a Comment / Accounting, Financial, IOLTA/IOLA, Strategic Planning /

Keeping it Separate: The Importance of Not Commingling Personal and Business Expenses for Attorneys Written By Geoff Burns As attorneys, managing finances is a critical aspect of running a successful practice. One common mistake that attorneys should avoid is commingling personal and business expenses. Commingling refers to mixing personal and business funds and using them

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Mastering Legal Bookkeeping: Best Practices For Managing Trust Accounts

Leave a Comment / Accounting, Financial, IOLTA/IOLA, Retainers, Software and Tech /

Proper bookkeeping practices are crucial for any business, but for law firms, it is especially important. Accurate bookkeeping can help ensure compliance with legal requirements, prevent potential financial fraud, and provide insights into a firm’s financial health. In this article, we will discuss legal bookkeeping best practices that attorneys can implement to ensure their client trust account records are accurate, up-to-date, and compliant with the law.

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How Bookkeeping Kills Your Business

Leave a Comment / Accounting, Budget, Financial /

How Bookkeeping Ruins Your Business Written By Geoff Burns Bookkeeping is supposed to provide the data and information necessary to make actionable decisions for your business. Reports created by your accounting software is a picture of your financial health, just as a routine physical from your doctor tells you the pertinent information about your body.

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