Entrepreneur
(noun)
/ˈäntrəprəˌno͝or,ˈäntrəprəˌnər/
You established a scalable business that helps people to solve their legal problems. As your business grows, you need to know how much you make, where all the money goes, what to do with profits, and how to keep track of all of this and stay state-bar-compliant at the same time.
How to keep track of multiple client trust funds in a single IOLTA account.
Missing billable time.
How to manage accounts receivable and accounts payable to maintain a consistent cash flow.
Differentiating Profit and Revenue - are you profitable?
Can you afford a new attorney?
Legal accounting can be complex and daunting.
Unless an accountant specializes in legal accounting, you are running into a risk of falling out of compliance with the legal-specific rules and regulations mandated by your state bar. When financial data is organized and well-prepared, it can offer critical insights into the operations of your firm.
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Discovery
Clean up
Process improvement
Ongoing Bookkeeping
Budgets & forecasts
Getting the lay of the land, understanding where you are and what the pain points are. Understanding the current condition of the books.
We will help to determine the issues and propose a solution including a timeline, and execute the action plan that works for your business.
We will evaluate as-is process, determine inefficiencies, and figure out what tools could improve and streamline the process.
Recording transactions, bank reconciliations, assistance with accounts payables and receivables, reconciling to the practice management software, three-way reconciliation.
Assist with budget preparation and reporting against it, forecasting your cash flow on a real-time basis.
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The info you need, in one place.
What Does the FFCRA Mean to Your Firm?
Implementing EPSL and EFML for your employees may be a smoother ride than furloughing them and having them apply for unemployment
California Unemployment - Tips and Facts
As a business owner, it is a hard decision to lay-off or furlough employees, but if that action is necessary, the EDD is the employees first point of contact.
What Is Your Law Firm’s Utilization Rate?
If your firms gets out ahead of the curve and starts to automate and/or outsource non-billable tasks, you can increase your utilization rate even more.
Is Your Law Firm Successful?
Maximize the efficiency of the lawyers already employed, and make sure that bills are created and paid for the hours they work; these are the keys to success.