Accounts Receivable refers to all the money you expect your law firm to make in a month. Knowing this number makes it possible to create an accurate budget and predict your monthly profit—when you know your expected profit for each month, you are able to better plan your business strategy.

Your Accounts Payable keeps track of all your law firm’s bills/expenses and when they need to be paid. We highly recommend going over your accounts payable once a month—this gives you a clearer picture of where your firm is financially.

Trust Accounting is an intimidating topic, for good reason. First-rate lawyers have been suspended or lost their practices, simply because of one or two mistakes made with their trust account. With the stakes so high, we wanted to make sure you have solid facts to understand this important part of your practice.

Streamlining the payroll process requires a lot of time and attention...and as a busy lawyer running your own firm, you probably feel like you could use a little more of both of them! That’s why we recommend hiring a capable bookkeeper to handle payroll for you.

Paying someone else to handle financial reporting can actually make you money—the more you sub out the tasks that syphon a ton of time away from your practice, the more time you’ll be able to spend directly working and directly getting paid.