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BILLING & COLLECTIONS

Traditional procedures bring in the most money

Getting paid or not getting paid to a great extent depends on the firm’s billing and collection guidelines – and whether they are…


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BILLING & COLLECTIONS

Louisiana firm sets up four sure-pay systems

A Louisiana firm has added a handful of measures to its billing and collections work that, while simple, have generated significant benefit…


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INCREASING PROFITS

To see better profits, look harder at where money starts and ends

Profit doesn’t happen without a prod.
Particularly in a tight financial environment, a firm has to know where its money is coming in and…


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INCREASING PROFITS

What’s overshadowing your partnerʼs big revenues?

Any firm can lose money to the very partners who are bringing in the most of it. That’s because…


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RISK MANAGEMENT

The forgotten cause of malpractice claims is poor communication

A great yet often ignored cause of malpractice claims is nothing more than poor client communication…


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BUDGET AND CASH FLOW FORECASTING

Why budgeting and cash flow forecasting are essential for effective law office management

Regardless of your opinion of budgets, they are vital for building and managing a law practice, says Brenda Barnes, a certified public accountant (CPA) and…


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FINANCIAL MANAGEMENT

A guide to understanding financial data

Law practice owners, especially those operating smaller firms, tend not to be super-knowledgeable about…


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INCREASING PROFITS

Some not-so-difficult ways to increase revenue

Need a better bottom line?
Don’t go the way of most firms and start “stripping the heck out of the operating costs.” The real dollars come from…


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RECORDKEEPING

Use weekly financial reporting to keep partners aware of cash flow

A Vermont manager has found that running the financial reports weekly instead of monthly is an easy way for the partners to stay always aware and in control of what’s…


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