Lawyers live and die by billable hours. If you don’t meet expectations for billable time, you won’t generate revenue and grow as a firm. If you go overboard, you risk losing clients.
Since billing is arguably the most important administrative process in the legal profession, it’s a great place to start when you’re looking for
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Season 2: The Launch is Coming!
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A Law Firm’s Guide to Tax Season Preparation
When it comes to tax season, there are generally three types of law firms. Those that maintain meticulous accounting records all year long; those that leave tax prep to the last possible minute; and those that fall somewhere between the two. For law firm leaders and administrators who find their practices at less than their…
The Complete Guide to Your Law Firm’s Finances
This is the time of year when we set—and, for some of us, quickly break—our New Year’s resolutions. But some resolutions are more important than others.
As we enter our third year of living with the coronavirus, facing continuous uncertainty and unpredictable market fluctuations, the resolutions that prioritize our well-being are vital. Financial well-being is…
Why Your Law Firm Needs a Client Portal
While modern technology has changed the way that many lawyers connect with their clients, it hasn’t changed the fact that confidentiality is key when it comes to the attorney-client relationship.
In fact, the American Bar Association (ABA) has addressed the rise of cybersecurity threats (like hacking) with an attorney’s ongoing obligation to safeguard confidential client…
A Family Law Firm’s Guide to Client Intake
Family law clients are in deep conflict. They’re facing some of the most trying situations in their lives, whether it’s a matter of a separation agreement, divorce, alimony or child support dispute, or child custody battle. Their nerves are likely frayed, and they need support and guidance.
So, prospective family law clients probably need a…
Ten Trends That Will Shape the Legal Industry in 2022
It’s no secret that the last two years have been filled with unprecedented challenges. But, navigating these challenges has armed attorneys and legal operations professionals with valuable lessons about providing legal services in the midst of difficult times. Moving into 2022, the legal industry as a whole is taking those lessons and turning them into…
What is a Legal Operations Manager?
You know that your law firm is a business. But only recently have firms started focusing on how to improve their business. (After all, the leading legal industry organization dedicated to legal ops, the Corporate Legal Operations Consortium (CLOC), has only been around since 2016.) To date, few firms today have hired dedicated…
Your Guide to Building a Strong Legal Operations Team
A recent study from Bloomberg suggests that a third of law firms don’t have a dedicated legal operations function. But is that true?
To paraphrase Shakespeare, we think it’s a case of a rose by any other name smelling as sweet. Even if firms don’t have a formal legal operations team or use specific job…
Closing the Books for the 2021 Fiscal Year
Every law firm should start 2022 with accurately balanced accounting that is ready for all that the new year will bring. However, doing so requires the complete closure of books from the 2021 fiscal year.
While this annual process is typically easier for firms that have consistently updated their books monthly, those that wait until…
Answers to Your 7 Biggest End of Year Attorney Compensation Questions
Evaluating end-of-year compensation for your attorneys may be the last thing (or, we’ll say it, most dreaded thing) on your to-do list as you work through closing the books for 2021.
There is some good news – you
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How Your Law Firm Can Give Back to the Community This Holiday Season
Tis the season for law firms to give back and expand on their charitable endeavors! For some firms, this may be a one-time holiday event, while others may choose an initiative that continues into the new year and beyond. Whatever the case, giving back helps firms solidify themselves as members of their communities with a…
Embracing a New Level of Excellence
April Campbell (Executive Director at the Association of Legal Administrators) and Judy Hissong
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Accounting for Lawsuit Settlement Payments: Tips for Handling Client Funds
- A basic overview of general law firm accounting
- Which client funds go where, and why should they be separate?
- What is IOLTA and what are the requirements for an IOLTA account?
- Best practices for client trust accounts
- Common trust account mistakes
- What is the best way to handle client retainers?
- How do
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The Secret to Successfully Using Legal Technology
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