Clio is a leading legal practice management software used for law firm accounting. In this blog post, we answer some of the most frequently asked questions regarding Clio software and its usage. What is Clio software? Clio software is made up of two main components – Clio Manage and Clio Grow. While Clio Manage is […]
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Law firm client accounting is one of the many services that Legal Bookkeeping provides. To find and get bookkeeping clients from all around the globe, we integrate our client accounting services with LEAP legal practice management software. This article aims to answer some of the most common questions that law firm accounting clients might have.
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The pandemic has ushered law firms into an era where going digital has turned more into a requirement than an option. With remote legal bookkeeping becoming demanding, you first must be aware and up-to-date with the current legal technologies in the market when selecting the right legal practice management software for your law firm. This
Choosing The Right Legal Practice Management Software Read More »
When accountants take care of everyday expenses and revenue of law firms, they come across transactions that are unfamiliar or out-of-the-ordinary expenses or revenues that they then temporarily keep track of in suspense ledgers. This helps accountants to be more accurate and precise and avoid fatal errors that can harm the law firm’s finances. Use
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Law firm profitability is the heart and soul of any law firm, large or small. It is the reason a law firm of 50 people with a huge revenue might turn into a 10-people firm barely making it through within a few years time. A more profitable law firm retains experienced employees and is ensured
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Legal industry habits are a requirement for every small law firm (1-100 people with 1-5 partners). The difference between a successful law firm and an average one lies in the application of certain habits and practices within the firm. Here are some of the successful law firm habits that will make you stand out among
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Law Firm Legal Bookkeeping Challenges and Ways to Overcome Them Want to know why your law firm’s financial stability is having a hard time maintaining consistency? It is likely due to the legal bookkeeping challenges that your law firm is facing. Poor bookkeeping can result in unprecedented financial loss and even the closure of the
Law Firm Legal Bookkeeping Challenges and Ways to Overcome Them Read More »
Solicitors Regulation Authority or SRA is responsible for safeguarding clients’ money. It can take action against the law firms for breaking any rules or regulations. It has developed a Client and Matter Risk Assessment Framework to identify any breach or cases of money laundering. The assessment can also detect risks related to terrorist financing. It
As the year ends, attorneys find themselves busier than ever. The end of the year brings a flurry of activity as clients rush to finalize deals and resolve legal issues before the new year begins. With so much at stake, attorneys are working tirelessly to ensure their clients’ needs are met and their cases are
Year-End Accounting Checklist for Attorneys Read More »
Legal bookkeeping differs from general bookkeeping because of the rules set by the Solicitors Regulation Authority (SRA). Any legal firm, if registered under SRA, must follow professional standards to avoid penalties and obey the SRA Rules for Law Firms. The SRA sets the regulations to safeguard clients’ funds kept deposited with a law firm. These
Compliance Matters: SRA Rules for Law Firms and the Vital Role of a Legal Bookkeeper Read More »
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