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Back to Basics: Law Firm Accounting vs. General Accounting

CosmoLex

Many legal practices , however, use outdated accounting methods or an assortment of industry-agnostic tools that dont account for the unique requirements of law firm accounting. These requirements include the management of client trust accounts, compliance with ethics rules, and detailed financial reporting tailored to legal practice needs.

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The Year’s Top Downloads from the LawSites Resource Center

LawSites

It is a library of free downloadable content that includes white papers, webinars, product guides, case studies, industry analysis and more, all provided by experts and vendors within the legal industry. Clio 2021 Legal Trends Report. 2021 eBook: Running a Lean Law Firm. 2021 eBook: Running a Lean Law Firm.

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The Year’s Top Downloads from the LawSites Resource Center

LawSites

It is a library of free downloadable content that includes white papers, webinars, product guides, case studies, industry analysis and more, all provided by experts and vendors within the legal industry. Clio 2021 Legal Trends Report. 2021 eBook: Running a Lean Law Firm. 2021 eBook: Running a Lean Law Firm.

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The Future of Accounting in Law Firms: Embracing AI & Digital Transformation

CosmoLex

From data entry to regular reporting and accounts payable processes, law firms can simplify and improve core accounting functions. Your financial reports will only be as accurate as the data entered into your system, so this component of accounting is significant to your overall financial operations.

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Trust Accounting for Lawyers: Strengthening Client Relationships

CosmoLex

Ultimately, trust accounting exists to protect clients and help firms comply with industry regulations. Nearly every lawyer will be responsible for managing client funds at some point, and knowing how correctly protects client relationships and helps avoid legal issues. What is trust accounting?

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Writing Standard Operating Procedures: The Ultimate Guide (+ 20 Free Templates)

The Process Street

You can write a simple checklist that outlines the different tasks involved and looks more like a to-do list than a report. Start by answering the following questions: What tasks do you need to do? Who needs to do them? What are the best ways to approach these tasks? This will be your first step toward systemizing your business.

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6 Effective Lead Generation Strategies for Attorneys in 2024

Rocket Matter

Learn how big tech has changed the legal industry Free Guide The Small Firm’s Guide to Big Tech While any change in how you operate your law office can feel overwhelming, there’s never been a better time to start migrating your office structures online. Building these relationships begins with finding the right clients.