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Tag Archives: law firm accounting

Don’t Use Ugly Data: 5 Secrets for Small Law Firm Accounting

Don’t Use Ugly Data 5 Secrets for Small Law Firm Accounting

“Nobody wants to look at ugly data,” says Tyler Chapman. He finds offering stakeholders sloppy and unpolished reports is one of the biggest accounting blunders law firm accounting staff can make. Instead, the LexisNexis business consultant recommends staff consider the audience first and customize reports for easy absorption. Polished reports are a function of process – and good process breeds ... Read More »

Avoiding Chaos in Closing Year-End Law Firm Finances

Avoiding Chaos in Closing Year-End Law Firm Finances

Note: The following is a post from contributor Carla Del Bove, who provides support to the business of law software product line within the LexisNexis software division. Closing the books on a small law firm’s finances is a clear point of stress for a busy attorney at the end of the fiscal year. However, the process doesn’t have to be ... Read More »

Sage Small Law Firm Accounting Advice from an Expert

Sage Law Firm Accounting Advice from an Expert-head

In an effort to save some money, a well-intended small law attorney had been managing his own books.  Now the auditing committee from the state bar association was taking a look – and couldn’t make sense of the data. Given her expertise with accounting software, and a history of teaching accounting at the university level, the auditing committee called Gale ... Read More »

Why an Attorney Referred an Engineer to Legal Billing Software

Why an Attorney Referred an Engineer to Legal Billing Software

Note: The following is a post from contributor Carla Del Bove, who provides support to the business of law software product line within the LexisNexis software division. Four hours a month. That’s how long Christine Ruther, owner of C&R Engineering in California, a solo biomedical engineering consulting firm, took to run billing for her biomedical consulting business (lawyers report an average of 8 hours ... Read More »

Friday Share:  A Legal Billing Conference in Illustration

A Legal Billing and Finance Conference in Illustration

What happens in Las Vegas isn’t staying in Las Vegas – at least if it was captured in an illustration format.   A short while ago we published the LegalTech Show in Illustration and earned good feedback – there’s power in doodling. When it came time to host more than 100 law firm billing, accounting and finance professionals for the 2015 ... Read More »

CPA:  How to Fairly Calculate Timekeeper Profitability Ratios

How to Fairly Calculate Timekeeper Profitability Ratios

Note: The following is an excerpt from a new eBook titled 15 Ideas for Getting a Jump-Start on 2015 which is freely available with registration. One concept that my CPA firm is working with several law firms on is adopting an objective way to gauge and compare the profitability of individual producers, all the way from paralegals to partners. For obvious reasons, most ... Read More »

Seven Tips for Improving Law Firm Billing Efficiency

Seven Tips for Improving Law Firm Billing Efficiency

Note: This post was penned by Loretta Ruppert and originally published in GP Solo in August 2013. Geneva Yourse was a relatively new attorney when she took a big risk: she quit a secure job as an attorney with a family friendly firm.  Why?  Because she wanted to pursue something bigger:  to hang her own shingle.  Hanging up a shingle, ... Read More »

The 4 Strategic Options in Software for Law Firm Accounting

The 4 Strategic Options in Software for Law Firm Accounting

For new law firms, processes, procedures and infrastructure are important decisions.   These are important for future plans – choosing systems that can support a firm as it grows. Accounting systems are a good example, because a law firm that outgrows it existing accounting tool will force a change precisely during a growth spurt.  In the worst cases, making a dramatic ... Read More »