Category Archives for Law Firms

Which is better!? Cash vs Accrual Accounting

 Entrepreneurs are often confused by the different accounting methods used to run a business. Have you found yourself wondering if you should be on a different method of accounting, asking yourself:  Which is better Cash Basis or Accrual?  Take comfort in knowing that you’re not alone in trying to figure this one out. The main difference in […]

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Tea and Cookies & with the IRS? Avoiding IRS Pitfalls

  It’s tax season! ….“UuuuggGH!” If that’s how you and your law firm associates are feeling these days, I get it. Totally understandable. After all, you’re the superheroes that sort out complicated messes, save people’s houses from being foreclosed upon and often untangle the most mysterious of stories (…only to find “it was the Professor […]

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Trust Accounting and the Negative Nellies

      Who is Negative Nellie? It could be argued that many attorneys would know, especially while representing some rather over-the-top-disgruntled clientele. In addition to the attitude of that particular client, any client who also has a negative balance on their trust account could be considered “negative” as well. LOL! 😉       […]

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Manage Workflows in QuickBooks Advanced

Like a kid in a candy store, there seem to be more and more things popping up in my accounting platform. One that I have been excited about because it allowed me not to have to add an app because the feature is “baked in” is the new Manage Workflows. When you work with attorneys, […]

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Work in Process – Law Firm Accounting

Work in Process

Work in Process (WIP):  Who knew you could rely on an 80’s rock band to impart such inspiration for law firm accounting? A WIP report is something you can find in LeanLaw reports, and it stands for “Work In Progress”! The WIP report is a valuable commodity that can be used as collateral to obtain […]

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Clio Legal Trends Report – answer your phone!

Week two and I am still discussing The Legal Trends Report by Clio. The second half of this report is fascinating. Especially as to how they went about researching what a client is looking for when seeking an attorney. Most people find an attorney by referral Most people seeking out an attorney do so by […]

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Annual Clio 2019 Legal Trends Report has dropped

I spend a ton of time studying the industry that I work with.  That is the Legal Industry.  I listen to podcasts, watch webinars, and try to learn the pain points in my clients’ industry.   This report was fascinating!  A big thank you to Joshua Lenon, the lawyer in residence at Clio for a […]

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4 Law Firm KPI’s to Remain Competitive!

  You know what you have to do every day…it’s on the calendar. “Meet with this client”, “meet with that lender”, “train the new co-worker”, “plan with the interior designer”, and at the end of the day, “enter in company expenses” (hopefully you’ve got a dedicated bookkeeper for this by now, ahem…”cough cough”).      […]

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Law Firm Accounting, Just One Piece of the Pie

I was pondering all the activity that’s been going on in the Facebook group I co-founded with Matthew Fulton called QB Community Live!, where we mentor other accountants, and I began to wonder…  What kind of community (if any), exist for our Attorneys and Law Firms for whom we serve? Accounting services are just one […]

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