Category Archives for Law Firms

Trust Club: Trust Accounting the Check Method

Trust Accounting the check method is a method I see with established firms with the partners that have the accountant or bookkeeper write a check from the IOLTA or Trust Bank Account to be deposited into the Operating Account.  One check per client.  That can involve lots of checks each month at the billing cycle […]

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Trust Club: Fixing the Errors in Trust Accounting

Fight ClubThe first rule of Fight Club is You do not talk about Fight Club. The second rule of Fight Club is You do not talk about Fight Club.Trust ClubThe first rule about Trust Club the trust account bank balance must match the trust account liability. The second rule about Trust Club the trust account bank […]

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Negative Cashflow Pro Bono No-No

​It rhymes AND it makes good sense! LOL! Note:  Happy Labor Day weekend!  I am taking a pause from the series on how to work with your first attorney client this week.  That series will resume next week!   You’ve heard the term pro bono before and you know what it means… You’re workin’ for FREE! Actually, a […]

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Attorney Invoicing Workflow using LeanLaw

Attorney invoicing is the topic of this post, which is part three of a series on how to work with your first attorney-client, what you need to know.   In Part One, we jumped in at the very beginning talking about the terminology around working with law firms and attorneys.  Part two was all about […]

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Attorney Expenses and Advanced Client Costs

This post is part two of a blog series on how to work with your first attorney-client, what you need to know. Last week, we jumped in at the very beginning and discussed the terminology around working with law firms and attorneys. This week it is all about the law firm expenses, and specifically, this […]

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Working With Attorneys: Trust Accounting

Trust Accounting

This article is for the person who just picked up a brand new law firm client and has no clue where to start. Trust accounting can seem scary. Also, what is all this terminology???? Trust accounts, retainers, matters, advanced client costs, and an Iolta account? What does it all mean?Well, it is super important to […]

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My Lawyers are NOT Guilty

..of these very common Law Firm Accounting mistakes. There I was, cruising the web for a little writing inspiration and suddenly… I was hooked! “Solo and Small Law Firm Accounting Issues” posted by FindLaw.com. Now THIS resonates!!!   These common mistakes, described by FindLaw are often the cause of many critical financial issues, whether you’re a small operation […]

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“Mixed” Trust Accounts Don’t Keep U.S. Tidy…

The internet provides valuable information about Trust Accounts and Trust Accounting.  The work to keep the books straight and tidy in your law practice is admirable, so I thought I would help clarify something that could throw a serious wrench into your record keeping effort.In Canada, there is such a thing as a “Mixed Trust […]

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