Navigating the complexities of billing and financial management in a law office can be challenging, particularly with the shift towards alternative fee arrangements. As a law office manager, you're at the helm of ensuring that the financial aspects of the practice run smoothly, from billing and collections to overall financial planning. First, let's talk about … [Read more...] about Navigating challenges in billing, collections, and financial management, with the shift towards alternative fee arrangements
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8 common mistakes in client billing and how to avoid them
Billing errors are common and can lead to disputes, loss of client trust, and financial setbacks. Here’s an overview of common mistakes in client billing and strategies to avoid them. One frequent mistake is inaccurate time tracking. Lawyers often juggle multiple clients and tasks, making it easy to misrecord billable hours. To avoid this, implement a robust time-tracking … [Read more...] about 8 common mistakes in client billing and how to avoid them
10 ways to balance budgeting and billing
Managing the financial aspects of a law office is a multifaceted challenge that requires a delicate balance between budgeting and billing. Here are 10 strategies to consider: 1. Establish clear budgets: Effective financial management starts with a well-defined budget. Work closely with the firm's partners or management to set clear and realistic budgetary goals. Consider … [Read more...] about 10 ways to balance budgeting and billing
The summer is over and it’s time to get back to law firm business
By Elizabeth M. Miller bio Summer is quickly coming to an end. While it is still hot in many places, the return after Labor Day for all intents and purposes signals the end of the summer—and summer vacations. Hopefully your firm has made good use of the "summer downtime" that exists when court dockets slow down as judges, court personnel, and the rest of the profession … [Read more...] about The summer is over and it’s time to get back to law firm business
Can any bookkeeper be a “law firm” bookkeeper?
By Elizabeth M. Miller bio I have no doubt you are scratching your head right now thinking, "what kind of question is that"? Indeed. What kind of question is that—one to which the short answer is NO. Bookkeeping, which in a law firm includes client billing, management of trust funds, and updating ledgers, is not something that can be done by "any" bookkeeper. If you want … [Read more...] about Can any bookkeeper be a “law firm” bookkeeper?
15 ways to improve your billings and collections
It's no secret that many clients don't like to pay their legal bills, says collaborative divorce attorney Joryn Jenkins. And without having measures in place to ensure payments, law firms can run into huge headaches. In a webinar for Law Office Manager, Jenkins, CEO of Open Palm Law and Open Palm Press in Tampa, FL, and Elizabeth Miller, an independent law firm administrator … [Read more...] about 15 ways to improve your billings and collections
Is your firm struggling with cash flow?
By Brenda Barnes bio Henry Ford once said, "Vision without execution is just hallucination." While revenue production is the core goal for every business, the real magic is in understanding and managing your cash cycle. You can't execute without cash. According to Patty Block, consultant and owner of The Block Group, many small businesses struggle to appropriately … [Read more...] about Is your firm struggling with cash flow?