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RISK MANAGEMENT

4 bad financial habits that may increase your policy premiums and your malpractice risk

Ineffective billing and collections practices affect more than the bottom line. They ultimately may determine what the firm has to…


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INCREASING PROFITS

Keep your accounts receivable young

Collection work is something that can’t wait, because a dollar of receivables doesn’t stay a dollar…


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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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MANAGING THE OFFICE

To-Dos: Your September office checklist

Now that the summer is over and you’re facing the final quarter, it’s time to roll up your sleeves and get to work. Here are some important tasks you…


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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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INCREASING PROFITS

Cutting costs? What worked in 2008 won’t work today

When money is tight, firm administrators start rushing to make decisions to save the bottom line, perhaps relying on strategies that saw the firm through…


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TRUST ACCOUNT

Trust account errors that could get you disbarred

As a law firm administrator, trust accounting issues need to be your primary concern, according to Joryn Jenkins, a collaborative divorce attorney, author and…


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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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