Tag Archive for: practice management

Cash Flow Calrity
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Achieving Cash Flow Clarity for Your Law Firm

In the dynamic world of law practice, managing finances effectively is just as crucial as mastering the intricacies of the legal system. Cash flow serves as the lifeblood of any business, including law firms. As a lawyer managing your own practice,…
AFP Fraud And Control Report
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Understanding the Trends in Payment Fraud Attacks

Introduction: Addressing the Challenge of Payment Fraud Attacks In the dynamic world of financial accounting, the challenge of countering payment fraud attacks is more pressing than ever. Amidst technological advancements and the shift to…
Fraudulent Checks
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Protecting Your Law Firm from Fraudulent Checks: Strategies and Best Practices

Introduction In today's fast-paced legal environment, law firms must remain vigilant to protect their financial interests. Fraudulent checks have become increasingly prevalent, causing substantial losses for businesses that fall victim to…
contractor vs employee
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Employee vs. Independent Contractor: Understanding the Key Differences for Law Firms

In the legal industry, the decision to classify legal professionals as employees or independent contractors can have significant implications for both law firms and the lawyers themselves. This classification affects various aspects, including…
Law Firm Financial Statements
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Demystifying Law Firm Financial Statements

Financial statements are essential tools for monitoring your law firm's financial health and making informed business decisions. However, interpreting these reports can be challenging for those without an accounting background. In this post,…
financial metrics
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Five Financial Metrics Every Law Firm Should Track

Monitoring financial metrics is essential for law firms looking to optimize performance, drive growth, and maintain a competitive edge. By tracking key performance indicators (KPIs), you can make data-driven decisions, identify areas for improvement,…
cash flow law firms
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Six Tips For Law Firm Cash Flow Management

Managing cash flow is critical for the success and growth of any business, and law firms are no exception. Ensuring steady revenue streams and maintaining financial stability allows your firm to meet its obligations, invest in growth opportunities,…
escrow reconciliation
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Tackling Imbalances in Multi-Year Escrow Reconciliation

Expert Solutions for Navigating the Challenges of Escrow Account Discrepancies At Law Ledgers, we understand the unique financial challenges that legal professionals face, particularly when managing client funds in escrow accounts. One such…
Counterfeit Checks
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Identifying and Avoiding The Counterfeit Check Scam

The legal community is not immune to the ever-present threat of fraud, and lawyers must remain vigilant in identifying and avoiding transactions that may involve counterfeit checks. This is the key message of the 2021 Formal Ethics Opinion…